With the economy still struggling to recover from the pandemic recession, US Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer.
US President Donald Trump has said he is looking into American major Oracle’s reported bid for the Chinese-owned video-sharing app TikTok and want to ensure there is no compromise on national security before approving the deal. Last month, Trump signed an executive order to ban TikTok and WeChat by Sept 15 unless the ownership of … Continue reading No compromise on security: Trump on Oracle-TikTok deal
Shares of Happiest Minds Technologies made a solid debut at the exchanges on Thursday as the stock got listed at Rs 351 on the BSE index, around 111 per cent premium over its issue price of Rs 166. Once listed, the Happiest Minds scrip went up further to hit Rs 395 in intraday trade.
BJP’s long time ally Shiromani Akali Dal isn’t the only one who’s unhappy with the three farmers’ bills introduced by the Centre. Farmers are apprehensive that they won’t be able to get the MSP, if the bill passes. Farmers, especially across Punjab and Haryana, have voiced their protest against the bills with Punjab CM Amarinder … Continue reading Why is no one happy with the farmers’ bills
Attacking the Centre over the alleged rise in unemployment, Congress leader Rahul Gandhi on Thursday said employment is dignity and asked for how long will the government “deny” this to people. Gandhi also quoted a media report which claimed that over one crore people had registered on a government portal seeking jobs, but only 1.77 … Continue reading ‘Employment is dignity, for how long will govt deny it’
Route Mobile’s initial public offer (IPO) got a strong response from investors as it was subscribed 74.36 times on the last day of bidding (September 11). The Rs 600-crore public offer of Route Mobile, a cloud communications service provider, received bids for over 89 crore shares as against the total issue size of 1.21 crore … Continue reading Route Mobile IPO: How to check allotment status
HDFC Bank launches video KYC
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HDFC Bank has enabled opening of savings account remotely by activating video KYC. The bank is also offering personal loans to new customers who can avail of the facility.
A New Jersey-based staffing company, Savantis Solutions, has agreed to pay $345,000 to settle allegations that it has violated immigration and employment regulations concerning continuous employment and wage requirements of workers it had brought to the US on H-1B visas. A probe found that from Jan 2014-June 2018 many of Savantis’ H-1B workers were not … Continue reading US company to pay $345,000 to resolve H-1B violations
The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank’s chief economist Carmen Reinhart said on Thursday.
Equity indices fell on Thursday with the benchmark BSE sensex sliding over 300 points led by losses in financial stocks. Sensex plunged 323 points or 0.82 per cent to close at 38,980; while the broader NSE Nifty settled 88 points or 0.76 per cent lower at 11,516.
President Donald Trump’s June 22 proclamation declaring foreign workers a risk to the US labor market amid the coronavirus pandemic triggered pushback from workers and business groups. An array of the nation’s biggest tech companies have warned that the policy will do “irreparable harm on businesses and the nation’s economy.”
The Securities and Exchange Board of India (Sebi) on Thursday modified certain rules realted to mutual fund (MF) schemes. It said that the closing net asset value (NAV) of the day shall be applicable during purchase of MF units, irrespective of the size or time of receipt.
The Supreme Court on Thursday dismissed a plea by State Bank of India seeking resumption of insolvency proceedings against the then chairman of Reliance Communications (RCom), Anil Ambani, to recover Rs 1,200 crore loan granted to his two firms.
Auto companies should cut costs by reducing royalty payments to their parent companies abroad instead of asking the government to reduce GST, finance ministry sources said on Thursday, responding to criticism on high taxes in India.
In a first for Indian carriers, Vistara will from September 18 offer inflight Wi-Fi internet connectivity onboard its Boeing 787 Dreamliners that currently operate Delhi-London route. Initially, as an introductory offer for some time the service will be free for all passengers. The airline will later announce tariff plans for the service.
Advance tax collection fell 25.5 per cent to Rs 1,59,057 crore in the second quarter of the fiscal, an income tax official said on Thursday.However, there was improvement over the first quarter ended June, when advance tax revenue had plunged 76 per cent to a tepid Rs 11,714 crore as the whole economy was under … Continue reading Advance tax mop-up falls 25.5% in Q2: Report
Investor wealth eroded by over Rs 1 lakh crore on Thursday as equities came under pressure after registering gains in the past two days. The 30-share BSE sensex opened lower and remained in the negative territory throughout the trading session. The benchmark finally closed at 38,979.85, lower by 323 points or 0.82 per cent.
China will need to approve ByteDance’s proposed deal with Oracle Corp for its TikTok app, the Chinese company said on Thursday, indicating how its bid to stave off a ban in the United States could be further complicated. Oracle has submitted a proposal to the Trump administration that will allow it to become a technology … Continue reading China will have to approve US TikTok deal: ByteDance
A law firm in the US has filed a class action suit against HDFC Bank, claiming damages for the losses incurred by investors because of “materially false and misleading” representations made by India’s largest private sector lender.
Japanese auto major Toyota is suspending plans to launch new cars in India and is also putting a halt to fresh factory investments as it blames “prohibitive” taxes on vehicles for depressing consumer demand, leaving automakers with high costs and unutilised and idle capacities.
Happiest Minds gains in grey market
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The unofficial, grey market for stocks is indicating a strong listing for the just-closed Happiest Minds Technologies IPO. This could mean the investors in this may see their investments double on Thursday, when the company is expected to list on both the BSE and NSE.
Tomato prices soar across cities
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Tomato prices in Kolkata moderated to Rs 80 on Tuesday after touching Rs 100 a kg on Monday. This was over 200% more compared to last year. As per data compiled by the consumer affairs ministry, the retail price of tomato has increased significantly across the cities.
There has been a 26-fold rise in assets under management (AUM) of exchangetraded funds (ETFs) in a little over five years to more than Rs 2 lakh crore now. The main reasons are government support for these schemes, rising popularity among investors, and acceptance by fund houses to launch equity and debtbased ETFs with lower … Continue reading ETFs jump 26x in 5 years, cross Rs 2 lakh crore
Speaking publicly for the first time after the recent controversy around not banning influential people posting hate messages on its platform, Facebook India MD Ajit Mohan told TOI: Facebook doesn’t profit from hate speech of any kind. “It’s not good for us…(We) lean in as much as we can to both enforce our community standards … Continue reading Facebook does not profit from hate speech: India MD
US President Donald Trump said Tuesday that a coronavirus vaccine may be available within a month — an acceleration of even his own surprisingly optimistic predictions — but added that the pandemic could go away by itself. “We’re very close to having a vaccine,” he told a town hall question-and-answer session with voters in Pennsylvania.
China’s tech titans can rely on their massive home market to ride out a Donald Trump-led campaign against them overseas, and in the long-term, their global prospects remain strong, analysts say. Tech firms from China have stormed to success in the global market with everything from video-sharing apps and mobile games to smartphones and sophisticated … Continue reading Unfriended abroad, China’s tech giants seek home comfort
In what has come as a big relief for domestic toy manufacturers, the government on Tuesday extended the mandatory BIS certification by four months. The new norm will be implemented from January 1, 2021. This will allow the manufacturers to dispose of their stocks, which otherwise were not allowed to be sold in the market … Continue reading Government extends mandatory BIS norms for toys
RBI governor Shaktikanta Das on Wednesday assured the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth.