BUSINESS
Tesla delivers record 343,830 vehicles in Q3, Musk elated
The company said it produced over 365,000 vehicles and delivered over 343,000 vehicles.Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks," Elon Musk-run company said in a statement late on Sunday.
Credit Suisse fighting for its survival
The second Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the US bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.
Ahead of festive season, prices of essential commodities continue to spiral up
As far as wheat is concerned, prices have gone up considerably in the last few months. As per traders at Delhi's wholesale markets, wheat prices have seen a spike crossing a record Rs 2,560 per quintal, due to slower supplies and robust demand.
According to traders, the heat wave led to lower production of wheat this year, impacting the domestic supplies of the agricultural produce.
BRICS countries hold talks on reserve currency
"The possibility and prospects of setting up a common single currency based on a basket of currencies of the BRICS countries is being discussed," Knyazev said during a discussion about expanding BRICS and the Shanghai Cooperation Organization. According to the diplomat, member states are "actively studying mechanisms" to exchange financial information to develop a reliable alternative for international payments.
Honda Motorcycles and Scooter overtakes Hero Motorcorp in retail sales
This is the first time that Honda Motorcycle and Scooter pipped Hero Motocorp in retail sales. Hero MotorCorp on Saturday said it had dispatched 519,980 units of motorcycles and scooters in the month of September 2022 for sales. It also said it is geared up to launch its first-electric vehicle, VIDA on October 7.
Indian crypto exchange WazirX fires 40% of staff: Report
A total of 50 to 70 employees of the 150 workers at the exchange were asked to go, CoinDesk reported, citing sources. The laid-off employees were informed on Friday that they would be paid for 45 days and that they would no longer be needed to report for work.
Markets need to consolidate after being choppy
BSESENSEX lost on the four days of the weeks into expiry, and had a fantastic day on the first trading day, of the new October futures series. At the end of it all, BSESENSEX lost 672 points or 1.16 per cent to close at 57,426.92 points while NIFTY lost 233 points or 1.34 per cent to close at 17,094.35 points. The broader markets saw BSE100, BSE200 and BSE500 lose 1.42 per cent, 1.58 per cent and 1.51 per cent respectively. BSEMIDCAP lost 1.65 per cent while BSESMALLCAP was down 1.25 per cent.
Rampaging US dollar posts strongest quarter in at least 7 years
In September, a month where the dollar briefly touched its highest level since 2002, the dollar index rose 3.2 per cent, marking its best month since April, when it rose 4.73 per cent. Thanks to its strong gains during the first nine months of the year, the dollar could be on track for its best annual performance since 2014, when the dollar index rose nearly 13 , MarketWatch reported.
Worst is yet to come for global economy: Credit Suisse
"Overall, the economic environment for risk assets is deteriorating. Stagnating global industrial production, persistent cost pressures, and rising financing costs all suggest a prolonged period of low risk appetite," Credit Suisse said.
Prices of essential food items significantly spike
The prices of wheat and atta have gone up considerably in the last few months and as per traders in wholesale markets in the national capital, wheat rates have seen a spike crossing a record Rs 2,560 per quintal due to slower supplies and robust demand.
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