From the Editor's Desk Smart money is not looking so smart right now. Hedge funds in the US have lost 0.4% in the past quarter, while the S&P 500 has returned 1.4%. Even the gold standard of Wall Street, Goldman Sachs, has returned 6.4% on equity, as opposed to the 30% average it delivered before the financial crisis. Debt-fueled risk-taking is being controlled through regulation and hefty asset management fees are being questioned when returns are so low. Outsized fees and wages associated with finance, in turn, could be one of the reasons why overly large financial sectors seem to have a deleterious effect on economic growth. Some theorize that when nosebleed pay packages are the norm in the financial world, it starts to siphon off talented workers who otherwise would have contributed to real economic productivity somewhere else. - Comment
Online-to-Offline: How these 5 startups are doing it differently End-of-season sales were once known for eager shoppers lining up at store doors early in the morning to get the best bargains. In the last couple of years, however, the crowds have thinned out. Customers now prefer to buy online, attracted by the frequent discounts offered by e-commerce stores.
Call drops: Bharti Airtel sets benchmark at 1.5 per cent Bharti Airtel has committed itself to limit monthly call drops at 1.5 per cent of total calls and pledged to make a contribution towards rural education if it exceeds this voluntary limit that is more stringent than the industry norm of 2 per cent.
'Service tax on spectrum allotment to hurt telecom industry' The proposal to levy 15 per cent service tax on all spectrum allotments and transactions among licensees will hit the telecom industry financially, putting initiatives of Digital India and Smart Cities at risk, an industry body said on Thursday.