Climbing the career ladder; Anumuthu Chinnaraj’s fight against poverty

Hello,

It’s a “Party in the USA” and around the world, thanks to US Fed rate cuts.

The Dalal Street and Wall Street rejoiced on Thursday after the US Federal Reserve kicked off its monetary easing cycle with a large half-percentage point rate reduction.

The Nifty 50 index gained 0.15% to 25,415.8, while the S&P BSE Sensex added 0.29% to 83,184.8. 

Meanwhile, the Dow Jones Industrial Average jumped 500 points, or 1.2%. CNBC reported that the S&P 500 climbed 1.7%, and the Nasdaq Composite surged 2.7%.

Here’s what this rate cut could mean for you.

Elsewhere, Alibaba has entered the AI game. 

The Chinese company released over 100 open-source AI models, known as Qwen 2.5, designed for use in applications and sectors ranging from automobiles to gaming and science research. 

Moving on, let’s talk about our work cultures. It’s the pawn that’s sacrificed first on the chessboard. 

Expecting a safe, healthy working environment is the bare minimum a corporate employee expects, but deadlines and workloads leave them any quarter to breathe. This is especially true for junior employees. 

Considering this, JP Morgan has created an international role to oversee the “well-being and success” of junior bankers. 

ICYMI: Which is better: WFH or from the office?

Lastly, TechSparks 2024 is just A WEEK away! Did you buy your tickets yet?

In today’s newsletter, we will talk about 

• TeamLease EdTech bridging skills gap
• The fight against homelessness 

Here’s your trivia for today: In which country is it illegal to own just one guinea pig?

Edtech

TeamLease EdTech bridging skills gap

Today, a degree from a reputed university is not enough to jumpstart a career. As industries transform with new technologies, students must go beyond academic credentials, mastering the skills that keep them ahead of the curve.

TeamLease EdTech says it helps users land their dream jobs by training them in essential skills.

Key takeaways:

• Founded over a decade ago, TeamLease Edtech, which is focused on higher education, collaborates with universities to design, develop, and deliver online degrees.
• TeamLease has partnered with several employers, such as Tech Mahindra, Teachnook, Corizo, Allsec Technologies, Mphasis, Intellipaat, and NoBroker, to create work-integrated degree programmes.
• The company currently works with 4,000 corporate clients across industries, including manufacturing, ecommerce, retail, BFSI, automotive, BPOs, telecom, and hospitality.

<Funding Alert>

Startup: Vahan.ai

Amount: $10M

Round: Series B

Startup: NowPurchase 

Amount: $6M

Round: Equity and debt

Startup: Bookmybai 

Amount: Rs 2 Cr

Round: Pre-Series A

Inspiration

Anumuthu Chinnaraj’s fight against poverty

Anumuthu Chinnaraj started Snehan in 2008, to uplift the homeless in Puducherry. The NGO provides medical care and shelter to the homeless and also helps people in sustaining themselves financially. Currently, it has 16 team members.

Chinnaraj’s drive to help the homeless comes from his own experience with childhood poverty.

Helping hands:

• Snehan’s team regularly searches the city for homeless individuals. When they find someone, they offer basic medical care for any injuries or wounds.
• Chinnaraj recalls that when he first started the NGO, he had no steady source of income. There were moments when he considered shutting it down and returning to his job, but his commitment to giving back wouldn’t let him quit.
• He dreams of building a Snehan Village, a space where all the destitute can live a dignified life together. Until that becomes a reality, his focus remains on expanding his reach and helping as many people as possible.

News & updates

• Share: The NPCI is considering easing its proposed market share cap for Google Pay, PhonePe, and Paytm as it struggles to enforce limitations. It is considering increasing the market share that UPI operators are allowed to hold to more than 40%.
• Chips: Analog Devices and Tata Group have signed a pact to explore making semiconductor products in India. Tata Electronics is investing $14 billion to build India's first semiconductor fabrication facility in Gujarat and a chip assembly and testing facility in Assam.
• Strikes: Samsung Electronics' Indian unit has sued members of a labour union that has led a strike for 11 days at its plant in Tamil Nadu. Samsung's lawsuit asks a district court for a temporary injunction to restrain the union from agitating, sloganeering, and making speeches in and around the factory.

In which country is it illegal to own just one guinea pig?

Answer: Switzerland. Guinea pigs are social animals by nature and require healthy interaction with others of their kind in order to be happy and maintain a good attitude.

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