BUSINESS
'Global shipping crisis result of uneven post-Covid recovery'
The economic downturn due to Covid-19 led to the plight of the sector. Be it the supply chain disruption, the shortage of shipping containers to skyrocketing freight costs over the last year, many elements have collectively increased the woes of the SMBs across the globe.
Gaming firm Roblox sued for $200M over music copyright issues
The lawsuit alleged that Roblox "actively preys on its impressionable user base and their desire for popular music, teaching children that pirating music is perfectly acceptable". The lawsuit also seeks a court order that will make Roblox crack down on piracy.
Sensex, Nifty hit record highs
Sensex touched its new all-time high of 52,626.64 and the Nifty50 has hit its record high of 15,835.55 points. Healthy buying was witnessed in metal and IT stocks. Sensex was trading at 52,613.59, higher by 313.12 points or 0.60 per cent from its previous close of 52,300.47.
Fuel prices rise again across the country; petrol costs Rs 102/ltr in Mumbai
In the city of Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 102.04 per litre on Friday. Diesel prices also increased in the city to reach Rs 94.15 a litre, the highest among metros.
BookMyShow lays off 200 employees amid pandemic woes
Ashish Hemrajani, CEO and Co-founder of Bigtree Entertainment Pvt Ltd, which operates BookMyShow said: "COVID19 has taught me many lessons & I learnt another one today. As we let go of 200 of the most incredibility talented & performance-driven individuals, each & everyone has messaged, thanking me for the opportunity, the love for BookMyShow and asking me if they could help me in any way possible."
RBI to conduct third open market purchases G-SAP on June 17
The Reserve Bank will purchase government securities and state development loans (SDLs) through a multi-security auction using the multiple price method. Under the tranche, up to Rs 10,000 crore of SDLs will be purchased. "The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on June 18, 2021."
Covid to push air traffic recovery to FY23 end
"But the credit quality of airport operators will continue to be supported by strong business models and healthy liquidity covers amid low debt servicing requirements this fiscal. "This is based on an analysis of the top four private airports - Delhi, Mumbai, Bengaluru and Hyderabad - which accounted for 90 per cent of air passenger traffic handled by private airports in India and 50 per cent of all air traffic last fiscal."
ATM charges increased to Rs 21 from Jan 1
Customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs. They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres.
Eightfold AI raises $220M led by SoftBank Vision Fund 2
The company has raised more than $410 million to date, with $350 million coming in the last six months. Eightfold AI said that the funds will be used to continue the rapid growth and development of its talent intelligence platform and expand its growing partner ecosystem.
US inflation highest in 13 years but markets at record highs
The Labor Department said May's increase in consumer inflation was the largest since August 2008. The jump followed a 4.2 per cent rise for the year ended in April, WSJ said. The core price index, which excludes the often-volatile categories of food and energy, rose 3.8 per cent in May from a year before-the largest increase for that reading since June 1992.
Don't Miss
Advertisement