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BANKING ON IT. The world’s back office is front of mind. Companies and banks rely on their workforces in India to power their global businesses. Now employers are scrambling to secure vaccines and medical supplies for employees as Covid-19 cases in the country top 18 million read more and grave diggers work round the clock.
Deutsche Bank (DBKGn.DE) has 13,000 people on the ground, its largest staff presence outside of Germany. It has set up teams to help them tap urgent medical assistance, according to an internal memo to staff seen by Reuters Breakingviews. Standard Chartered (STAN.L), Chief Financial Officer Andy Halford said yesterday that more than 4% of its 20,000 staff were infected.
Protecting people is a tall order. Even the country’s rich and well-connected are struggling to secure hospital beds for their loved ones. Many back offices are located away from New Delhi, the current epicentre of the crisis where an oxygen shortage read more has led to more deaths. But with the virus rippling across the country, they are now the recipients as well as the providers of support. (By Una Galani)
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Earlier in Capital Calls:
DBS adds to Asia bank optimism read more
Endeavor’s Hollywood ending read more
Ares throws down gauntlet in private credit arena read more
U.S. GDP goes big read more
Unilever planned profitability gain is optimistic read more
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