Stock traders cheer on Bannon exit

Stock traders cheer on Bannon exit

US stocks regained ground on Friday, after it was confirmed President Donald Trump’s polarising adviser Steve Bannon would depart the White House. Three major indexes turned higher in mid-morning trading and were modestly up by early afternoon. Mr Bannon, a right-wing nationalist, helped shape the “America First” message of Mr Trump’s election campaign. He also supported some of Mr Trump’s more radical economic positions. In a recent interview with the left-leaning American Prospect magazine, Mr Bannon said the US was in an “economic war” with China, and called for aggressive…

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Railways must exit catering business and focus on managing train services

Railways must exit catering business and focus on managing train services

A TV flash about a nail or a lizard found in a meal served to a train passenger is usually followed by a predictable official drill: Portentous announcements on termination of contracts, imposition of fines or the blacklisting of the firms. Disciplinary action is announced against officials found to be either negligent or for being in cahoots with the “rail catering mafia”. Clear-cut action plans and strict timelines aimed at fixing problems are issued. Once all these are done, the gigantic machinery of the Indian Railways (IR) reverts to its…

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