BUSINESS
Bitcoin falls below $30,000 worst weekly loss in months
Two weeks ago, Bitcoin hit $42,000, but it is now down 30 per cent from that record high. According to reports, increasing calls for regulation is the reason Bitcoin has crashed so big. At a US Senate hearing earlier this week, Janet Yellen, US President Joe Biden's nominee for Treasury Secretary, suggested that lawmakers must "curtail" the use of cryptocurrencies such as Bitcoin over concerns that they are being used for illegal activities.
Plant closure: Supreme Court declines Vedanta's plea for early hearing of appeal
As the Tamil Nadu government had filed a special leave petition in the top court for expunging certain remarks in the Madras High Court order, a bench headed by Justice R. F. Nariman and comprising Justices Navin Sinha and K. M. Joseph admitted it and tagged it with the main matter.
Share Market: Sensex slumps 700 points, gives up 49,000
It fell 746.22 points, or 1.50 per cent, to close at 48,878.54 as heavy selling was witnessed in banking, finance and metal stocks. The Nifty50 on the National Stock Exchange closed at 14,371.90, lower by 218.45 points, or 1.5 per cent, from its previous close.
At $200 billion, household savings climb to 20-year high during Covid-19 lockdown: Report
A vast portion of this surplus is in cash only. The total savings soared by a whopping 135 per cent during the lockdown months, a report by UBS said, adding now household savings constitute as much as 58 per cent of the gross capital formation while that of corporates is only 32 per cent.
HDFC Bank reviews SEBI order in BRH Wealth Kreators' matter
A SEBI probe found that the lender had unilaterally invoked securities pledged by BRH to the extent of Rs 158.68 crore and the capital market regulator has thereby directed the bank to deposit an equivalent amount, along with interest from October 14, 2019 till date at the rate of 7 per cent per annum, in a separate interest bearing escrow account, till the issue of settlement of clients' securities is reconciled.
Alibaba's Tmall Global helps global SMEs open online stores
The company will provide tailored registration, consultation, logistics, operation and language services to global brands, allowing them to open online stores in as quick as 30 days. According to Tmall Global, experts on cross-border business will offer one-on-one online guidance in nine languages to merchants from over 20 countries within three working days.
Share Market: Sensex drops 550 points, holds on to 49,000
Heavy selling in banking, finance and metal stocks weighed on the indices. Around 2.40 p.m., Sensex was trading at 49,073.58, lower by 551.18 points or 1.11 per cent from its previous close of 49,624.76. It opened at 49,594.95 and has so far recorded an intra-day high of 49,676.88 and a low of 48,894.64 points.
Intel posts $20B revenue in Q4, beats expectations
Fourth-quarter revenue exceeded prior expectations by $2.6 billion driven by record PC-centric revenue with PC unit volumes up 33 per cent year-over-year led by record notebook sales, Intel said on Thursday.
The company said it also achieved better-than-expected data-centric results, including record Mobileye revenue.
Vaccination drive may help India regain positive GDP growth after COVID-19 slump: RBI
India’s vaccine drive was backed by a sophisticated system designed to be as efficient as possible. Furthermore, the comparative advantage of having the biggest vaccine production facility in the world and rich experience in mass vaccination operations against Polio and measles have surely favoured India in the fight against coronavirus.
Israel, Morocco sign aviation deal
Flights from Israel will be land in all of Morocco's international airport. No limitation has been put on the number of flights and air carriers that could operate the new route. The deal also calls for up to 10 weekly cargo flights.
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