TMS Ep257: EY split, rain hits brand Bangalore, markets, quiet quitting

In a departure from the stand taken by its “Big Four” rivals, EY last week said that it was planning to split the firm’s audit and advisory businesses. Even as the other three of the group -- Deloitte, KPMG and PricewaterhouseCoopers -- were adamant on keeping the two services together, EY said that it was doing so to address regulatory concerns over potential conflicts of interest. So will this move prompt others to follow the suit and will its ripples be felt in India too. 

Big organisations like EY always think ahead of the curve to remain competitive. And they always have a contingency plan. But, Bangalore’s authorities had no plan B ready when the city’s roads and streets were flooded. A man swimming in the living room of his villa in the upscale Epsilon area, CEOs taking tractor rides to reach safer places… visuals emerging from India’s Silicon Valley were just plain shocking. We ask if brand Bangalore is taking a hit. 

Forecast of heavy rain is also keeping the country’s financial capital on the edge. Mumbai also sees regular flooding. Moving on, the Nifty MidCap and SmallCap indices have leaped up to 23% since their June lows. And though the valuations seem mildly stretched post this rally, analysts believe this broader market rally is here to stay. 
 

Meanwhile, a new trend is taking social media platforms by storm. It has triggered a debate around work culture. How much hard work should we put in? Should we go beyond our job description? Should we do only what we have been told or volunteer for extra work? Whichever way you chose to tilt, but you cannot ignore “quiet quitting”. This episoce of the podcast tells more about it.