BUSINESS
Indian consumers seek to spend 25% of monthly salary on festive sales
Smartphones (37 per cent), consumer electronics (30 per cent) and home appliances (30 per cent) are on top of the shopping lists of consumers this festive season, according to consumer insights by CyberMedia Research (CMR).
Global smartphone market declines 6% YoY in Q3, Samsung tops
However, Samsung retained the number one spot in the third quarter with smartphone shipments of 69 million units. According to market research firm Counterpoint, the market declined due to the ongoing global component shortages and the slow recovery of key markets such as China and parts of Europe.
AWS sales jump 39% as companies accelerate Cloud journey
AWS generated $4.88 billion in operating income in the July-September period. "AWS has seen a re-acceleration of revenue growth as customers have expanded their commitment to the cloud and selected AWS as their cloud partner," said Brian T Olsavsky, SVP and Chief Financial Officer.
Apple posts nearly $100 bn in profits for its fiscal year
The company reported $366 billion of revenue for its fiscal year, which represents a 33 per cent annual growth, and a record 12-month profit nearing $100 billion. For the September quarter (Q4) alone, the net income was $20.6 billion.
Joe Biden unveils framework for $1.75tn social spending package
The so-called Build Back Better Framework includes $555 billion in clean energy and climate investments; $400 billion in funding for child care and free preschool; $200 billion in child tax and earned income tax credits; and $150 billion in investments for affordable housing, according to a fact sheet released by the White House on Thursday.
Global cues dent sentiments, equity indices trade lower
At 10 a.m., the 30-scrip sensitive index traded at 59,779.89 points, down 204.81 points or 0.34 per cent.The Sensex opened at 59,857.33 points from its previous close of 59,984.70 points. Besides, the NSE Nifty50 traded at 17,785.70 points, lower by 71.55 points or 0.40 per cent.
Apple doubles India market share in fiscal 2021: Tim Cook
"Even so, we set an all-time record for Mac and quarterly records for iPhone, iPad, Wearables, Home and Accessories representing 30 per cent year-over-year growth in products," Cook said during an earnings call with analysts late on Thursday.
RBI Governor Shaktikanta Das's term extended
In an order, it said: "The 'Appointments Committee of the Cabinet' has approved the reappointment of Shri Shaktikanta Das, lAS Retd. as Governor, Reserve Bank of India for a period of three years beyond December 10, 2021 or until further orders, whichever is earlier."
IndiGo's Q2FY22 YoY net loss widens by 20%
However, the airline's net loss declined by 54.8 per cent on a sequential basis. Besides, the revenue from operations rose by 104.6 per cent to Rs 5,608.5 crore from Rs 2,741 crore earned during the corresponding quarter of the previous quarter.
Centre releases Rs 44k cr to states/UTs under back-to-back loan facility
"After taking into account earlier release of Rs 115,000 crore, total amount released in the current financial year as back-to-back loan in-lieu of GST compensation is Rs 159,000 crore," the Ministry of Finanace said in a statement.
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