BUSINESS
Flipkart says 'anomalies' behind some iPhone 13 order cancellations
Some customers also complained that their refunds were taking a longer time on orders placed during the ongoing "Big Billion Day" sale. A few also tweeted that they received fake handsets although their claims could not be corroborated. The company said in a statement that "a minor fraction of orders (less than 3 per cent of all orders) have been cancelled by sellers due to anomalies".
Nirmala Sitharaman criticises states seeking more funds, says 'You Me' culture won't work
Addressing a CNN-News18 Town Hall event here, she made the comment while responding to Tamil Nadu's demand for more funds. "You can't expect more money just because you generate more money than other states. 'You, me' narrative won't work. A country cannot prosper like that. Revenues earned by states are for India," Finance Minister Nirmala Sitharaman said.
Markets warn pound slump could lead UK interest rates to triple by next year
The pound sterling tumbled to an all-time low of $1.03 against the dollar overnight before recovering to $1.07 in morning trading as traders priced in forecasts of a major intervention from Threadneedle Street to support the currency. Traders expect the central bank to convene a meeting of its monetary policy committee (MPC) soon to hike interest rates from 2.25 per cent to 3 per cent before increasing them further at a scheduled meeting in November, The Guardian reported.
Indigenously-developed aviation fuel AVGAS 100 LL launched
Minister for Petroleum and Natural Gas Hardeep Singh Puri, while launching the fuel at Hindon air base, said: "We are undergoing a remarkable transformation which is almost revolutionary. We are reducing dependence on imported fuels by promoting biofuel blending, green hydrogen and introduction of electric vehicles."
Veira Group infuses Rs 200 cr to boost Smart TV production in India, to hire 1,000
The company aims to hire 1,000 people, thus creating new job opportunities for R&D personnel, management personnel and skilled workers. The company said it has already invested Rs 120 crore at the new facility, and the rest will be invested in the next six months. This is the second manufacturing plant of Veira Group in India, the first being at sector 63 in Noida.
Rupee plunges 63 paise to close at new record low
The rupee closed 63 paise down, at 81.62, against the US dollar on Monday. It had closed at 80.99 on the previous trading session. "Another day of large gains for the dollar versus the rupee as it fell for the fourth day in a trot amid risk-averse sentiments and unprecedented strength in the greenback following Fed tightening and recession worries," said Dilip Parmar, Research Analyst, HDFC Securities.
Indices end down, Sensex falls over 900 points
At close, Sensex ended 953.70 points, or 1.64 per cent, down at 57,145.22, and Nifty closed 311.05 points, or 1.80 per cent at 17,016.30. A total of 2,925 shares have declined, 660 shares advanced and 122 remained unchanged. Maruti Suzuki, Tata Steel, ITC, Axis Bank, NTPC, and Bajaj Finance were major losers on the Sensex.
Samsung launches credit card in India with 10% cashback on its products 24/7
The 10 per cent cashback offer will be over and above the company's offers, on both EMI and non-EMI transactions.
"We realise that 70 per cent of consumers are upgrading their devices within 12 months of purchase in the country.
Indian workforce to get average salary hike of 10.4% in 2023
Moreover, the attrition rate for the first half of 2022 continued to be high at 20.3 per cent, only marginally lower than the 21 per cent recorded in 2021, thus retaining the pressure on salaries. This trend is expected to continue for the next few months, according to global professional services firm Aon.
Rupee hits new record low of 81.55 against USD
At the interbank foreign exchange market, rupee was trading at 81.55 against 80.99 close on the previous trading session against the US dollar. "Rupee falls to fresh all-time lows as the dollar strengthens across the board. Hawkish Fed outlook, political instability in China and sell-off in pound after the tax cut announcement is also disturbing the overall market sentiment.
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