Business
$5 million question: Can bankers be fired for demanding 8 hours of sleep? US court to decide – The Times of India
A Manhattan federal jury is about to take up an unusually blunt workplace question: Can an investment bank lawfully fire a junior banker who insists on a protected sleep window as a disability accommodation? The case pits former Centerview Partners analyst Kathryn Shiber against the elite M&A boutique after she was dismissed weeks into a “guardrails” arrangement that carved out nine hours of rest per night, according to the Financial Times.The legal fight turns on whether extreme, unpredictable availability is truly an “essential function” of the analyst job or simply a culturally enforced expectation. As federal judge Edgardo Ramos put it in an order moving the case toward trial: “There is a genuine dispute [about] whether the ability to be available at all hours of the day and to work long, unpredictable hours is an essential function of the analyst role,” per court records.Shiber says she was pushed out not because she couldn’t do the work, but because she needed consistent sleep to manage a diagnosed mood and anxiety disorder, the FT reported.Why it mattersWall Street’s junior-banker grind has been a simmering flashpoint since pandemic-era deal surges, when complaints about punishing schedules and chronic sleep deprivation spilled into public view and forced some banks to tinker with “protected” time off, the FT noted.What makes this case more than a culture-war curiosity is that it asks a jury to draw a line between:• High-intensity work that’s legitimately inherent to the job, and• Work patterns that persist because “that’s how it’s always been,” even if they collide with disability law.Legal scholars are watching because trials like this are rare. Disability-law professor Katherine Macfarlane told the FT it was “incredibly unusual” for an Americans with Disabilities Act case like Shiber’s to reach a jury, and she added it would be “slightly absurd [to be] in court arguing that people have to be available 24 hours a day, that’s your expectation . . . The number of people that would preclude is pretty big.”Zoom inShiber joined Centerview in 2020 as a 21-year-old junior analyst. Soon after she started, the firm agreed to a trade: a guaranteed nine-hour nightly sleep period in exchange for being reachable essentially all other times, seven days a week, the FT reported.Then the arrangement collapsed fast. Less than three weeks after Centerview implemented the terms, Shiber was terminated on a video call, and Centerview’s COO chastised her for pursuing investment banking given her rest requirements, according to the FT.The underlying workplace conflict traces to a live deal assignment (“Project Dragon”), where Shiber logged off after midnight without messaging senior teammates working on a client presentation; she was reprimanded and then contacted HR to disclose her medical need for sleep, per the FT.Centerview’s position is that the accommodation wasn’t viable beyond the very short term. In filings, the bank said there was “no reasonable accommodation available” if she required eight to nine hours of consistent sleep each night, and it argued junior bankers “are known to work long and often unpredictable hours, a consequence of the job of an investment banker”, the FT reported.Between the linesAt trial, the fight won’t just be about how many hours analysts work. It’s about which hours matter, and whether the midnight-to-morning stretch is operationally essential or merely tradition.John Jacobi, a visiting professor at Columbia Law School, framed the key issue to the FT this way: a central question is “whether it is actually essential that someone be available at three in the morning” – and whether the firm followed an “interactive process” to explore workable options.That “interactive process” point matters because many disability-accommodation disputes hinge less on a single policy than on whether the employer and employee genuinely tried to problem-solve before the relationship broke down.The case is also expected to spotlight the social machinery of junior banking: constant coordination, rapid iteration, and informal norms about when you’re allowed to step away. Centerview has tried to frame Shiber’s sleep window as a communication and teamwork problem as much as a time-off request, saying: “Junior bankers obviously don’t need permission to go to sleep, but are expected to work together and communicate properly with teammates,” according to reporting summarized in Business Insider coverage.What nextThe jury will effectively be asked to decide whether round-the-clock availability is part of the job’s core function or an employer preference that can be adjusted without breaking the role. Judge Ramos’ refusal to end the case early underscores how fact-intensive that question is – and why it’s headed to jurors rather than being resolved on paperwork alone.Expect the courtroom battle to revolve around:• Job reality vs. job description: Whether Centerview can substantiate that overnight availability is indispensable, especially if written expectations weren’t clearly codified and communicated (a point raised in prior reporting on the dispute).• Feasibility of coverage: Whether teammates could adjust workflows, staffing, or handoffs without undermining client service and deal execution.• Accommodation efforts: Whether Centerview’s short-lived guardrails were a genuine attempt at accommodation or a stopgap that set Shiber up to fail.• Damages: Shiber is seeking millions, including lost earnings and “emotional distress,” the FT reported, while Centerview disputes the premise that the role can be done with a fixed sleep block.Bigger picture: Whatever the verdict, the case is already forcing an on-the-record look at how a top-tier advisory firm defines “essential” in a profession that often treats exhaustion as a rite of passage.
Business
Gold price rises up Rs1,100 per tola in Pakistan – SUCH TV
The prices of gold increased in the local market on Monday, with 24-karat gold per tola rising by Rs1,100 to settle at Rs491,462 compared to Rs490,362 on the previous trading day, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.
Similarly, the price of 10 grams of 24-karat gold increased by Rs943 to Rs421,349 from Rs420,406, whereas 10 grams of 22-karat gold went up by Rs864 to Rs386,250 against Rs385,386.
In the international market, the price of gold increased by $11 to $4,687 per ounce from $4,676.
Meanwhile, the price of silver per tola decreased by Rs 50 to Rs 7,744 from Rs 7,794, while the price of 10 grams of silver declined by Rs 43 to Rs 6,639 from Rs 6,682.
The price of silver in the international market also decreased by $0.50 to $72.60 per ounce from $73.10.
Business
Aurobindo Pharma gets board nod for Rs 800 crore share buyback plan – The Times of India
Hyderabad: Aurobindo Pharma’s board on Monday approved a Rs 800 crore share proposal to buy back up to 54.23 lakh fully paid-up equity shares of the company of face value Rs 1 each at Rs 1,475 a share.The proposed buyback, which is subject to regulatory and statutory approvals, represents up to 0.93% of the total number of equity shares in the company’s total paid-up equity share capital.The Hyderabad-based generics drug maker informed the bourses that April 17, 2026, has been fixed as the record date to determine shareholder eligibility and entitlement for the buyback, which will be carried out through the tender offer route on a proportionate basis, in line with SEBI’s Buyback Regulations and the Companies Act.All eligible equity shareholders, including promoters and promoter group entities holding shares on the record date, will be entitled to participate in the offer for which the company has already constituted a buyback committee.The company also said the board or buyback committee may increase the buyback price and correspondingly reduce the number of shares to be bought back up to one working day before the record date but the overall size will remain unchanged.The Rs 800 crore buyback size excludes transaction costs and related expenses such as brokerage, taxes, filing fees, legal charges and publication expenses, it said.The latest buyback comes less than two years after the last buyback offer aggregating to Rs 750 crore that was made at Rs 1,460 a piece in August 2024 by the company.As of December 31, 2025, promoters and promoter group entities held 51.82% stake in the company, mutual funds 19.52%, foreign portfolio investors 13.94%, insurance companies 5.50%, and public shareholders and others 7.93%.
Business
UK supermarkets told to restore worker pay to the real living wage
Major UK supermarkets are facing renewed pressure to restore worker pay to the real living wage, after many retailers scaled back commitments amidst significant industry cost pressures.
Investor activist group ShareAction is leading the call, urging the country’s largest grocery chains to reinstate pay at this level.
The campaign follows recent pay increases announced by the sector, ahead of the 1 April rise in the national minimum wage to £12.71 per hour for those aged 21 and over.
While many now pay above this statutory minimum, few currently match the higher real living wage.
This voluntary, independently calculated benchmark, reflecting true living costs, is currently £13.45 an hour nationally and £14.80 in London.
M&S was revealed last month to be no longer offering pay in line with the real living wage when it announced its latest wage hike, despite a rise of at least 6.4 per cent and offering levels above the national minimum wage and inflation.
The Co-operative Group also became the latest to announce its pay rise for workers, with a 3.5 per cent increase from April, but has now dropped a previous “long-standing commitment” to the real living wage.
The two biggest players in the sector – Tesco and Sainsbury’s – also no longer match pay to the real living wage and have not since 2025.
Both pay higher than the national minimum wage after above-inflation rises, but not at the living wage level.
Discount supermarkets Aldi and Lidl are the only major supermarkets to pay entry-level shop staff in line with the real living wage nationwide, with Aldi’s hourly rate exceeding the benchmark.
The John Lewis Partnership, which owns supermarket Waitrose, has hiked shop staff pay by 6.9% from April but only matches the real living wage for employees within the M25.
ShareAction said pressure on firms to make firm commitments on pay would be a “major focus” for it at upcoming annual meetings for shareholders.
But it comes amid steep cost pressures on the sector, not least higher National Insurance contributions after the tax hike in April last year.

Louise Eldridge, head of good work at ShareAction, said: “It’s disappointing to see supermarkets like M&S, Sainsbury’s and Tesco moving away from matching the real Living Wage pay rates after setting the pace in recent years.
“We know retailers are under real pressure.
“The latest Living Wage rise reflects higher living costs, but that’s exactly why paying people a wage can actually live on is so important.”
She added: “Investors have been making the case to these companies that better pay has proven business benefits, from better morale to lower turnover and higher productivity.
“We’ve made progress on disclosure, but that alone won’t help staff cover the basics, so we’re continuing to push for concrete commitments on pay. This will be a major focus for us at supermarket AGMs this year.”
A spokeswoman for Sainsbury’s, which increased worker pay by 5 per cent in April, said the group had increased hourly wages by 42 per cent in the past five years.
“Our colleagues are at the heart of our success and rewarding them well continues to be a priority,” she said.
A Co-op spokesperson said: “In recent years we have aligned our lowest rates of pay with the Real Living Wage, although we are not formally accredited as a Real Living Wage employer.
“Pay is considered as part of our wider reward offer, which includes benefits such as paid breaks, colleague discounts and wellbeing support.”
M&S stressed it has never formally committed to the living wage.
Tesco said its wages have risen by 43 per cent over the last five years, adding its workers “also benefit from a competitive reward package”.
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