BUSINESS
FCC bans Chinese tech equipment from entering US
The FCC adopted new rules prohibiting communications equipment deemed to "pose an unacceptable risk to national security from being authorised for importation or sale in the US". This is a huge blow to Chinese companies as they can't legally import or sell anything with a radio in the US without the FCC authorisation.
Binance launches proof-of-reserves system for Bitcoin reserves
The company currently has a 101 per cent reserve ratio. This indicates that it has enough BTCs available to cover every user's balance, reports TechCrunch. With the new proof-of-reserves website, the crypto exchange company confirmed that its own money is not included in the BTC wallets used in the proof-of-reserves system.
Thanksgiving Day online sales touch $5.3 billion in US, mobile top choice
According to Adobe Analytics, mobile devices accounted for 55 per cent of all online shopping, up 8.3 per cent from a year ago. "Thanksgiving this year has become an inflection point, where smartphones drove real growth and highlights how much these experiences have improved," said Vivek Pandya, lead analyst, Adobe Digital Insights. Consumers spent $72.2 billion online in October, 10.9 per cent more than they did in the month prior.
Paytm Payments Services Ltd to resubmit application for authorisation to provide payment aggregator service
The company said that it has received a letter from the RBI in response to an application from PPSL for the authorisation to provide payment aggregator services ("PA application") for online merchants. The company can now resubmit the application within 120 calendar days for the payment aggregator services.
Pre-2021 US currency valid even after 2023, Facebook posts proved false
"US dollar notes below year 2021 will not be acceptable from January 2023 -- US government -- something is fishy," reads the November 5 FB post that was shared more than 200 times in less than two weeks, USA today reported, saying that other versions of the claim amassed hundreds of additional shares on the social media platform.
Amazon to shut food delivery business in India
"As part of our annual operating planning review process, we have made the decision to discontinue Amazon Food," said a company spokesperson. "We don't take these decisions lightly. We are discontinuing these programmes in a phased manner to take care of current customers and partners," the spokesperson added.
Insolvency proceedings begin in Ansal Properties and Infrastructure
The creditors of Ansal Properties have been asked to submit their claims with proof by December 1 to the interim resolution professional. The classes of creditors ascertained by the interim resolution professional include home buyers and deposit holders. Ashwani Kumar Singla has been appointed as interim resolution professional for Ansal Properties.
Government releases Rs 17,000 crore GST compensation to states
The total amount of compensation released to the states so far, including the aforesaid amount, during 2022-23 is Rs 1,15,662 crore, official sources said. This is despite the fact that total cess collection till October, 2022 is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its own resources.
VMware posts $3.2 bn in revenue in Q3 amid acquisition by Broadcom
VMware's shares fell slightly in after-hours trading after it reported lower-than-expected earnings and revenue. The virtualisation software giant reported a net profit of $231 million, way down from $398 million in profit it posted in the same period last year.
Delhi High Court grants bail to Yes Bank Co-founder Rana Kapoor
The case was registered by the Enforcement Directorate (ED). Justice Sudhir Kumar Jain allowed the bail plea filed by Rana. A copy of the order is awaited. Earlier, a trial court had granted bail to 15 co-accused persons, whereas, Kapoor was denied bail. The Special Judge had observed that the allegations against Kapoor were grave and serious in nature.
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