BUSINESS
PM Modi to launch innovative customer-centric initiatives of RBI
The Retail Direct Scheme of RBI is aimed at providing retail investors enhanced access to the government securities market. This offers the investors a new pathway for direct investments in securities issued by the Government of India and the State Governments.
Our renewable capacity, investment size makes us the leader among all global companies: Gautam Adani
"There is no other company that has yet made so large a bet on developing its sustainability infrastructure. We, therefore, believe the combination of our renewable capacity and the size of our investment makes us the leader among all global companies in the effort to produce cheap green electricity and green hydrogen," Adanisaid.
Not only indices, even brokerages' stocks are booming now
Therefore, the growing number of investors along with the exponential growth in market capitalisation levels has caused an increase in stock prices of listed brokerages firms. IIFL finance's stock rose by 265.37 per cent, in terms of one-year return. Angel's stocks grew at 262 per cent and MOFSL at 68.81 per cent, whereas Geojit and JM Financial grew at 44.59 and 08.04 per cent respectively.
Tencent reports 13% revenue growth in Q3
The company also disclosed data regarding its underage game players in its latest financial statement. On September 1, Tencent began implementing a series of measures to comply with China's latest regulations on restricting the gaming time of its underage citizens, reports Xinhua news agency.
Apple supplier Foxconn buys Ohio EV factory for $230 mn
The cash-strapped electric vehicle start-up will find some relief from the capital infusion, while the partnership gives Foxconn a jump start on producing fully electric trucks. Shares of Lordstown rose more than 13 per cent hours after the news broke, reports CNBC.
Japan's wholesale prices surge to 40-yr
The wholesale prices grew for 8 months continuously, with the latest rise of 8% being the highest since it grew at the rate of 8.1% four decades ago according to the country’s central bank, reported Xinhua News Agency. The petroleum and coal products prices also rose by 44.5 per cent, indicating the higher commodity prices. As many Covid-19 restrictions were lifted, demand for energy and raw materials was boosted with the recovering economies
Elon Musk offloads Tesla stock worth $5bn after Twitter poll troll
The filings that were posted later on Wednesday with the US Securities and Exchange Commission (SEC) showed that Musk sold another 3.58 million shares in Tesla. That sale was valued at about $4 billion, reports TechCrunch. The world's richest man had earlier posted two of the costliest tweets in the history of Global Inc.
Global cues subdue equity markets; Sensex down over 400 pts
At 10.15 a.m., the 30-scrip sensitive index traded at 59,921.26 points, down 438.60 points or 0.77 per cent. The Sensex opened at 60,291.70 points from its previous close of 60,352.82 points.
US inflation for October 2021 rises to highest level in three decades
The inflation remained high and further swelled up due to the disruptions that persisted in the supply chain for months. The consumer price index (CPI) soared 0.9 per cent in October after rising 0.4 per cent in September, as per the updated reports by the Department's Bureau of Labour Statistics.
US sues Uber for overcharging people with disabilities
The DOJ alleged in the lawsuit that Uber discriminates against people with disabilities. "Uber's policies and practices of charging wait time fees based on disability have harmed many passengers and potential passengers with disabilities throughout the country," the Justice Department said in a statement late on Wednesday. The lawsuit, filed in the US District Court for the Northern District of California, alleges that Uber violated Title III of the Americans with Disabilities Act (ADA), which prohibits discrimination by private transportation companies like Uber.
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