August 13, 2020

Business

Apple confirms 2020 iPhones won't arrive in September

Operating systems: The businesses of tomorrow

SAP appoints Kulmeet Bawa as President, MD, India subcontinent

Google to pump in Rs 75,000cr to help India go digital

Japanese Firm Tsuzuki To Set Up Manufacturing Unit In Reliance's Model Economic Township In Jhajjar

Zoom Video launches new hardware as a service

US dollar gains amid coronavirus worries

US dollar edges down amid coronavirus uncertainty

Supplies to mobile industry impacted

US dollar dips amid economic data

Urvashi Rautela is 'open to ideas'

New Delhi, Actress and former beauty Urvashi Rautela is open to learning and experimenting on screen, and she calls herself "extremely enthusiastic".

Urvashi ventured into Bollywood with "Singh Saab The Great" in 2013. She was later seen in films like "Sanam Re", "Great Grand Masti", and "Pagalpanti".

Vicky Kaushal-starrer 'Sardar Udham Singh' not hugely affected by pandemic


New Delhi,  Director Shoojit Sircar says his period film "Sardar Udham Singh", which stars Vicky Kaushal in the title role, has not been hugely affected by the coronavirus pandemic, adding that he plans to start with the post production work on the project soon

Big B: Rishi Kapoor was 'simply unbeatable'


Mumbai,  Late veteran actor Rishi Kapoor is being remembered by his fans and friends everyday. Megastar Amitabh Bachchan too misses his "Naseeb" co-star a lot.

Taking to Instagram, Big B posted a picture of Rishi Kapoor, praising his "lip sync" skills.

Ila Arun: Corporates should come out to support folk artistes


Mumbai,  Actress-folk singer Ila Arun, who has seen many ups and downs in her journey as an artiste since 1979, says that the live entertainment business and folk artistes will be badly affected post COVID-19, as social distancing becomes a part of our lifestyle. The artiste urges corporate companies to come out in support of artistes.

Chahatt Khanna urges for the boycott of Chinese goods

Mumbai,  Actress Chahatt Khanna is boycotting all Chinese applications and has blamed China for bringing the novel coronavirus into the forefront.

"China has been on the forefront on bringing this virus. We all know the motive behind the virus. They need to be taught a lesson. By boycotting goods and their services we are taking a step ahead. We are opening more doors for Indian services," Chahatt said.

Cover private sector Agri projects, rural MSMEs under MGNREGA to battle Covid-19 economic challenge: ASSOCHAM

 

Chandigarh- ASSOCHAM has described the record budget outlay of over Rs 1.1 lakh crore for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme as 'need of the hour'. The Chamber has made a strong case for the inclusion of private sector agricultural projects and industries in the rural areas, under the flagship programme, in the wake of Covid-19 crisis.

"Our suggestions will act as a catalyst for investment

World Bank projects global economy to shrink by 5.2% in 2020

Washington, The global economy is on track to shrink by 5.2 per cent this year amid the COVID-19 pandemic, the deepest recession since the Second World War, the World Bank Group said in its latest Global Economic Prospects.

Economic activity in advanced economies is anticipated to contract 7 per cent in 2020 as domestic demand and supply, trade, and finance have been severely disrupted, the report released on Monday said. The US economy is projected to shrink by 6.1 per cent this year, while Euro Area could see a 9.1-per cent contraction, Xinhua news agency reported

US economy officially entered recession in February

Washington,  The US economy officially entered a recession in February, ending the longest expansion in the country's history, the National Bureau of Economic Research (NBER) said.

The Business Cycle Dating Committee of the NBER, which maintains a chronology of the peaks and troughs of American business cycles, "has determined that a peak in monthly economic activity occurred in the US economy in February 2020", the NBER said in a statement on Monday.

US stocks fall amid downbeat data

New York,  US stocks finished lower on Thursday as investors pored through a slew of economic data.

The Dow Jones Industrial Average decreased 147.63 points, or 0.58 per cent, to 25,400.64. The S&P 500 was down 6.4 points, or 0.21 per cent, to 3,029.73. The Nasdaq Composite Index fell 43.37 points, or 0.46 per cent, to 9,368.99, Xinhua reported.

Six of the 11 primary S&P 500 sectors closed lower, with energy down 2.91 per cent, the worst-performing group. Utilities rallied 3.04 per cent, outperforming the rest.

Aus media giant announces closure of over 100 print titles

Canberra,  News Corp Australia on Thursday announced the closure of more than 100 regional and community print titles as part of a major restructure aimed at cutting costs and moving to digital publishing in the wake of the COVID-19 pandemic.

In a statement, the media giant said the bulk of its regional and community papers will go digital from June 29, reports Xinhua news agency.

Equity indices reverse all gains to end in red

New Delhi,The domestic stock market gave up all its gains on Tuesday to end in negative territory.

The BSE Sensex which surged over 400 points earlier in the day to cross the 31,000 mark, eventually ended at 30,609.30. The Nifty50 on the National Stock Exchange also closed marginally lower than its previous close.

Rahul Sharma, Head of Research, Equity99 Advisors said that profit booking was witnessed in the mid-trading session and traders were seen winding up long positions in technology and pharma stocks ahead of the monthly derivatives expiry

FWICE plea to Maharashtra CM: Let us resume post-production work


Mumbai, The Federation of Western India Cine Employees (FWICE) wrote a letter to Maharashtra Chief Minister Uddhav Thackeray on Tuesday, seeking permission for resume post-production work in the media and entertainment industry.

The letter, signed by Ashoke Pandit, chief advisor of FWICE, reads: "With reference to the subject matter, we would like to bring to your kind notice that there are numerous projects of the media and entertainment industry which are halted due to lockdown and

40-day lockdown to inflict $320bn loss on Indian economy: Report

New Delhi, The COVID-19 pandemic is expected to hit Indian economy with about $320 billion in terms of daily gross domestic product (GDP) loss after 40 days of lockdown, said a report.

The daily GDP of India is estimated to be approximately $8 billion.

The impact has been severe on the travel and mobility sector with unicorns such as OYO, Ola, MakeMyTrip seeing massive revenue decline, said the report from DataLabs by Inc42.

Facebook adds new 'care' emoji reaction

San Francisco, Facebook has rolled out a new 'Care' reaction on Facebook desktop and app to help people share their support during the COVID-19 pandemic.

The social media giant is gradually rolling out the care emoji to users. A number of people have already received the new emojis, however, for the majority of users, they will start appearing over the next few days.

US dollar dips in volatile trading

New York, The US dollar extended losses in volatile trading on Thursday as market participants rebalanced their portfolios and continued to digest the Federal Reserve's policy update.

The dollar index, which measures the greenback against six major peers, slipped 0.55 per cent at 99.0248 in late trading.

In late New York trading, the euro rose to $1.0951 from $1.0870 in the previous session, and the British pound rose to $1.2599 from $1.2450 in the previous session. The Australian dollar decreased to $0.6523 from $0.6540, Xinhua reported.

Rupee hits new low of 76.91 a dollar


Mumbai,  Rupee slumped to a new low of 76.91 per dollar on Wednesday on the back of a broad-based strength of the greenback.

Weakness in the oil prices and volatility in the global and domestic stock markets weighed on the factors behind depreciation of the Indian currency.

Australia wants Facebook, Google to pay news media for using their content

Sydney, The government has ordered the Australian Competition and Consumer Commission (ACCC) to develop a mandatory code of conduct for Facebook and Google that will force the tech giants to pay media companies for using their content.

According to a report in ABC News on Monday, the competition watchdog has been tasked with creating a "lever-playing fiend" for the traditional news media which is currently bearing the brunt of coronavirus (COVID-19) pandemic like elsewhere in the world.

After spectacular rally use correction to re-enter

 
The week at the markets consisted of a mere three days as there were religious holidays on Monday and Friday. It was a great time at the bourses as they registered big gains and improved the sentiment. BSE SENSEX gained 3,568.87 points or 12.94 per cent to close at 31,159.62 points while NIFTY gained 1,028.10 points or 12.72 per cent to close at 9,111.90 points. The broader markets saw BSE100, BSE200 and BSE500 gain 12.73 per cent, 12.41 per cent and 12.14 per cent respectively. BSE MIDCAP was up 11.31 per cent while BSE SMALLCAP was up 9.40 per cent.

Adani Gas reduces prices of CNG, Domestic PNG

Ahmedabad, Adani Gas Ltd. (AGL), the city gas distribution business of the Adani Group, has announced reduction in the prices of Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) across its various geographical areas with effect from April 9.

Cash is King - Conserve Cash

The markets were under pressure in the week gone by and lost on three of the four trading days. BSESENSEX was down 2,224.84 points or 7.46 per cent at 27,590.75 points whilst NIFTY was down 576.45 points or 6.66 per cent at 8,083.80 points.

7 lakh jobs gone in 14 days, worst yet to come in US


Washington, The worst stage of coronavirus pandemic became visible in the US when the Donald Trump government reported that employers cut over 7 lakh jobs in the first two weeks of March -- close to the May 2009 financial crisis peak of 800,000 job losses.

Most of the job losses were reported from restaurants and bars, followed by retailers. It was the first decline in payrolls since September 2010, CNBC reported.

US dollar climbs amid recession fears


New York, The US dollar gained in late trading on Thursday as worries of a possible coronavirus-fuelled global recession boosted the demand for the currency.

The dollar index, which measures the greenback against six major peers, was up 0.5 per cent at 100.1691 in late trading.

In late New York trading, the euro was down to $1.0851 from $1.0929 in the previous session, and the British pound was up to $1.2396 from $1.2372 in the previous session. The Australian dollar was down to $0.6048 from $0.6071, Xinhua reported.

US stock futures down after Trump extends social distancing guidelines



Washington, US stock futures were lower after President Donald Trump announced an extension of the social distancing guidelines to April 30.

On Sunday night, Dow futures were down 371 points, or about 1.7 per cent. S&P 500 futures fell around 1.8 per cent and Nasdaq futures were down around 1.5 per cent, CNN reported.

Wall Street tumbles after US tops world in COVID-19 cases

 

New York, US stocks ended significantly lower amid the fast-growing spread of coronavirus in the country.

On Friday, the Dow Jones Industrial Average slumped 915.39 points, or 4.06 per cent, to 21,636.78. The S&P 500 decreased 88.60 points, or 3.37 per cent, to 2,541.47. The Nasdaq Composite Index shed 295.16 points, or 3.79 per cent, to 7,502.38, Xinhua news agency reported.

Rupee's new low: Rs 75/$ for the first time

Mumbai, The Indian rupee touched a record low against the dollar on Thursday, trading at over Rs 75 per dollar against its previous close of Rs 74.26 a dollar.

Around 12.45 pm, it was trading at Rs 75.14, or 1.24 per cent weaker than its previous close.

Market at 3-year low, Sensex drops below 29,000

 

Mumbai, Sell-off intensified in the Indian stock market on Wednesday, as both Sensex and Nifty dropped to their lowest levels in three years.

Sensex plunged over 1,900 points and fell below the psychological 29,000-mark.

Markets have bottomed but aftershocks to continue


Markets went crazy on Friday the 13th and we had a reversal which is unparalleled in recent times. The benchmark indices hit the lower circuit of 10 per cent and on reopening, they fell further briefly before they recovered not only the losses of 10 per cent of the morning but closed in positive territory by about 4 per cent. Such volatility is sure to increase the health bills of many a senior citizen.

US dollar climbs amid hopes for stimulus measures

New York,  The US dollar strengthened on Tuesday, as market participants speculated possible stimulus efforts from global monetary policymakers to counter the impact of the coronavirus outbreak.

The dollar index, which measures the greenback against six major peers, rose 1.61 per cent at 96.4402 in late trading.

Sensex tanks 2400 points, RIL logs worst fall in 10 years

Mumbai, The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

Facebook invests in Indian education start-up Unacademy


Bengaluru, Social media giant Facebook on Wednesday joined others such as General Atlantic and Sequoia India for a fresh $110 million round of funding into one of India's fastest growing education technology start-up Unacademy.

"We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us. Our goal is to democratise education and become not just the largest educational organisation but the largest consumer Internet story out of India," Gaurav Munjal, Co-Founder and CEO, Unacademy, said in a statement.

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