TCS layoff: What the company is offering to 12,000 affected employees
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JPMorgan Chase nears a deal to take over Apple's credit-card program
JPMorgan Chase is in advanced talks to take over Apple's credit-card program, according to people familiar with the matter. Discussions between the country's biggest bank and Apple accelerated in recent months, with Apple telling JPMorgan it is the tech giant's preferred choice to replace Goldman Sachs as its card partner. JPMorgan and Apple have been negotiating since early last year, The Wall Street Journal previously reported. Still, the deal hasn't been signed and there are chances that talks could unravel due to a number of challenges associated with the Apple program. An agreement would be one of the biggest credit-card deals ever, further cementing JPMorgan's status as the largest credit-card issuer in the U.S. It would serve to bring two of the country's most influential companies closer together, giving the bank a loyal base of Apple customers to whom it can pitch more financial products, and giving the tech giant a sprawling consumer franchise to help it sell and finance more gadgets. Write to AnnaMaria Andriotis at
Mint
20 minutes ago
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The Gen Xers who waited their turn to be CEO are getting passed over
When it comes to the C-suite, Gen X might be doomed to live up to its 'forgotten generation" moniker. More baby boomers are working past traditional retirement ages. By the time they are ready to pass the torch, millennials will be reaching for it. This is already happening at more companies. In the Russell 3000, 41.5% of chief executives are at least 60 years old, up from 35.1% in 2017. Over the same period, the share of CEOs in their 30s and 40s has grown to 15.1% from 13.8%, according to research by the Conference Board and ESGAUGE. That leaves Gen Xers, typically defined as those born between 1965 and 1980, with fewer chances to lead. People in their 50s held 51.1% of CEO seats eight years ago. Now they occupy 43.4%. Many Gen Xers say they operated on the belief that if they paid their dues, their time would come. But as they enter what is usually the prime, C-suite career stage, more businesses are retaining their aging leaders or skipping a generation in search of the next ones. 'We're starting to see a barbell phenomenon in the CEO role where Gen X is being squeezed in the middle," says Matteo Tonello, head of benchmarking and analytics at the Conference Board. Maybe it's fitting that workers dubbed 'slackers" in their youth would reach the top less often, though Tonello says companies don't necessarily lack faith in Gen Xers. Their predicament is largely a result of bad timing. Facing a pandemic, recession and supply-chain problems in recent years, companies prized boomers' experience. Now some are turning to millennials to navigate the advent of artificial intelligence. Gen Xers, especially those about to turn 60, might have missed their moment. The cruel thing is a lot of Xers don't realize they are headed for dead ends. 'A type of person I come across in my business all the time is the executive-in-waiting," says Shawn Cole, president of Cowen Partners Executive Search. 'They assume when their boss retires, they're going to get the seat. A lot of folks are going to be disappointed." The most vulnerable people are those sandwiched between leaders on the young side of the boomer cohort and hard-charging older millennials. Say you're a 55-year-old lieutenant with a protégé who is 44 and a CEO who is 63. If the boss hangs on for five more years, the board will be tempted to go with the younger option. One bright spot for Gen X executives whose windows are closing: Private-equity backed companies remain eager to hire them, says Bo Burch, CEO of Human Capital Solutions. A private-equity firm hoping to exit an investment in three to five years generally wants a veteran manager for a short stint. A 50-something often fits that bill. But in other settings, Gen Xers frequently get stuck in No. 2 roles. They have to fight to be seen as transformational figures by boards that want rising stars with big ideas for the next decade. 'There's a bias toward younger, future-fit leadership branding—even if Gen X has the real substance," Burch says. Brian Buckalew has spent his entire, 34-year career at Majestic Steel USA, whose baby-boomer founder was succeeded as CEO by his millennial son. Buckalew, 56, has been a road warrior for decades, traveling from his home in Georgia to meet with customers. Though he has risen from sales assistant to vice president of strategic sales, he has sometimes felt overlooked. 'I struggled with it until recently," he says. 'Why wasn't I chosen for this, or why wasn't I chosen for that?" He says Gen Xers are often viewed more as tacticians than visionaries. He notes Americans have never elected a Gen X president and doubts they ever will. Boomers have won eight of the past nine elections. (Joe Biden is part of the pre-baby boom silent generation.) And 2028 betting favorites mostly revolve around several millennials. Buckalew says he has come to appreciate having time for hobbies he might be forced to sacrifice if he climbed higher. It helps that he considers his millennial boss deserving of the post. Still, Buckalew, who grew up going home to an empty house after school, says Gen Xers' ability to figure things out on their own is underappreciated. The 'latchkey generation"—so nicknamed because its childhood coincided with a surge of women in the workforce—doesn't require hand-holding. This comfort working without guidance is arguably more valuable amid AI uncertainty than having been raised on the internet, says Megan Gerhardt, founder of Gentelligence, which advises companies on managing multigenerational teams. If AI is the biggest workplace disruption since the internet, then Gen Xers who survived the previous big shift can be a steadying presence now, she contends. 'It's this attitude of, 'Well, I figured that out, so I can figure this out too,' " says Gerhardt, who is also a management professor at Miami University in Ohio and, yes, a Gen Xer. That sounds like a decent pitch for any would-be executive whose demographic reality bites. Write to Callum Borchers at
Mint
20 minutes ago
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Buy or sell: Vaishali Parekh recommends three stocks to buy today — 30 July 2025
Buy or sell stocks: The Indian stock market ended its three-day losing streak and closed with gains after Tuesday's stock market session, as benchmark heavyweight stocks like Reliance Industries and HDFC Bank fueled the gains on 29 July 2025. The Nifty 50 index closed 0.57% higher at 24,821.10 points, compared to 24,680.90 points at the previous market close. The BSE Sensex index closed 0.55% higher at 81,337.95 points, compared to 80,891.02 points at the previous stock market session. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 index witnessed a strong recovery from the 24,600-point zone with steady gains and ended on a quite optimistic note. The index is expected to rise further in the upcoming stock market sessions. Vaishali Parekh recommended three buy-or-sell stocks for Wednesday: HFCL, Rashtriya Chemicals and Fertilizers (RCF), and Navkar Corporation. On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, 'Nifty witnessed a strong recovery from the 24,600 zone during the intraday session with a steady gain as the day progressed and ended on a quite optimistic note above 24,800 level to expect for further rise in the coming sessions.' 'A decisive close above the 25,000 zone would be important for the index which can boost the sentiment and anticipate for next target of 25,300 level with currently having 24,500 level as the major and crucial support which needs to be sustained, as mentioned earlier,' said the stock market expert. 'Bank Nifty, sustained the 55,900 zone and indicated a small pullback to end above the 56,000 level with bias still maintained intact and once again would need a decent revival to break past the important hurdle at 57,400 zone to trigger for fresh upward move in the coming days. The index would need to sustain the crucial support zone near the 50EMA level at 56,000 zone with the frontline banking stocks like HDFC Bank and ICICI Bank standing firm and their progress shall decide the further directional move of the index in the coming days,' said Parekh. Parekh said that the Nifty 50 Spot for today has support at 24,700 points and resistance at 25,000 points. The Bank Nifty index would have a daily range of 55,700 to 56,800. 1. HFCL Ltd (HFCL): Buy at ₹ 78; Target Price at ₹ 82; Stop Loss at ₹ 76. 2. Rashtriya Chemicals and Fertilizers Ltd (RCF): Buy at ₹ 152; Target Price at ₹ 160; Stop Loss at ₹ 148. 3. Navkar Corporation Ltd (NAVKARCORP): Buy at ₹ 130; Target Price at ₹ 155; Stop Loss at ₹ 126. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
