BUSINESS
Global cues, renewed buying lift market; banking stocks rise
Accordingly, the market opened with a gap up following Thursday decline.
New Relic acquires Kubernetes observability platform Pixie Labs
The acquisition will help New Relic expand in the rapidly growing Kubernetes market. Kubernetes is an open-source container-orchestration system for automating computer application deployment, scaling and management. It was originally designed by Google and is now maintained by the Cloud Native Computing Foundation.
Terming as 'Nonsense' Tata Sons reject Mistry's settlement proposal
Senior advocate Harish N Salve argued for the company before a three-judge bench which was led by Chief Justice of India SA Bobde, “Cut to the chase. They are seeking to have the assets of Tata Sons divided so that they can get an 18% share in all Tata companies.”
'Nonsense', 'Oppression': Tata, SP Groups' battle rages on in SC
Senior advocate Harish Salve, representing Tatas, opposed the SP Group's proposal that its stake, which it estimates at Rs 1.75 lakh crore, be swapped with the shares in the Tata Group listed companies.
Indian ABS performance risks remain despite better collections: Moody's
"As payment moratoriums came to an end in August, collections in rated Indian ABS improved markedly in September and October, although they remain below pre-coronavirus levels," said Dipanshu Rustagi, a Moody's Assistant Vice President and Analyst.
India and China to lead global economic recovery after COVID crash
India has already shown great incentives in economic recovery thanks to the festive season business towards the end of 2020. It is currently leading the world’s economic recovery with GDP growth rate set to reach 9% in 2021. The festive season helped the economy to bolster a 12.5% forecast increase in private consumption.
Shopping feature arrives on Instagram Reels globally
Businesses and creators will be able to tag products when they create Reels, and viewers can tap through those tags to buy or save them, reports The Verge. "A branded content tag is also available for influencers who are paid for their posts", the report said.
Walmart commits to export $10 bn India-made goods each year by 2027
In a statement, Walmart said that its new export commitment is expected to provide a significant boost to micro, small and medium enterprises (MSMEs) in India, alongside ongoing efforts such as the Flipkart Samarth and Walmart Vriddhi supplier development programs.
Anti-trust probe initiated against ACC, Ambuja Cements
Both Ambuja Cement and ACC said in regulatory filings that the CCI has initiated an investigation against cement companies in India, including Ambuja Cements and ACC Ltd.
Circulate Capital invests to scale India's circular economy for plastic waste
Established in partnership with PepsiCo, Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company, and Chevron Phillips Chemical, CCOF is the world's first investment fund dedicated to combating ocean plastic in South and Southeast Asia.
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