BUSINESS
US govt hacking into Huawei servers since 2009, accuses China
According to Nikkei Asia, China's Ministry of State Security posted on its official WeChat account, revealing “key despicable methods by US intelligence agencies in cyberespionage and theft."
Bitcoin logs over 700K transactions in single day after almost 2 years: Data
According to the data presented by the analytics firm IntoTheBlock, the number of reported Bitcoin transactions increased to nearly 703,000, representing not only the highest number recorded in 2023, but also the highest transaction volume seen in nearly two years.
Hopeful of closing FY24 with Rs 1,200 cr revenue run rate: Licious
In a statement to IANS, Licious said that earlier this year, it turned operating margin profitable with "minimal cash burn at 8 per cent operating profit margin and 30 per cent product gross margin".
US Fed leaves interest rates unchangedUS Fed leaves interest rates unchanged
A paper on the economic projections released indicated another hike might be coming before the end of the year.
Govt to sell 4.9% stake in SJVN, share price fixed at Rs 69
The floor price has been fixed at Rs 69 per share which represents a 16 per cent discount from SJVN’s closing price of Rs 82.1 on Wednesday.
PSU stocks rally raises chances of government divestment
State freebies have already started in a big way. The fiscal performance is weak year-to-date (YTD) with tax collections 3 per cent YoY (Apr-Jul), vs budgeted 10 per cent for FY24. A slowing nominal GDP (+8 per cent in Q1) and rising oil prices / potential populist pressures will restrict tax revenue surprise.
US debt rises to $33 trillion as govt shutdown looms
Fitch sent Congress a wake up call after the debt limit fight earlier this summer. The ratings agency downgraded US sovereign debt from AAA to AA+ in August, citing the nation’s mounting debt and partisan brinkmanship as the major reasons behind its decision, CNN reported.
Govt likely to step in as tomatoes go from boom to bust
According to sources, the Consumer Affairs Ministry's price stabilisation fund (PSF) will be used to make the purchases to provide relief to the distressed farmers who have started dumping their crop as cattle feed since prices are not even covering transport costs in some areas.
Live entertainment & gaming app Eloelo raises $22 mn
The funding will be used to partner with more creators and develop new tools for them, attract more talent across tech and product, and bolster monetisation efforts, the startup said in a statement.
Nifty down 232 points as volumes on NSE close to highest in recent times
At close, Nifty was down 1.15 per cent or 231.9 points at 19901.4, while the Sensex reported a loss of 796 points, or 1.18 per cent, to settle at 66,800.84.
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