BUSINESS
NSE Co-location Scam: CBI seizes digital devices from brokers after raids
The raids were conducted at Delhi, Kolkata, Mumbai, Gurugram, Gandhinagar and other parts of the country. "We have recovered a few digital devices, documents and other relevant things. We have recorded the statements of a few brokers. In coming weeks, they can be asked to join the investigation," said a CBI source. The source said that the digital devices and documents collected during the raids have been sent for forensic examination.
US stocks suffer longest losing streak since Great Depression
The Standard & Poor's 500 index fell as much as 2.3 per cent on Friday, leaving it 21 per cent below the all-time high that it reached in January and essentially ending a bull market run that began in March 2020, RT reported. The S&P is considered the most accurate measure of US stock market performance, as it's broader-based than the 30-member Dow Jones Industrial Average, which is made up entirely of blue-chip securities.
Excise duty cut on petrol, diesel; subsidy announced for Ujjwala gas beneficiaries
"Today, the world is passing through difficult times. Even as the world is recovering from Covid-19 pandemic, the Ukraine conflict has brought in supply chain problems and shortages of various goods. This is resulting in inflation & economic distress in a lot of countries," she said in a series of tweets. The duty cut will have revenue implication of around Rs 1 lakh crore per year for the government.
Paytm FY22 results: Revenue jumps 77% to Rs 4,974 cr, losses reduce 8% to Rs 1,518 cr
In Q4 alone, the company's revenue grew 89% on a year-on-year basis to Rs 1,541 crore, while EBITDA (before ESOPs) for the quarter improved 12 per cent year-on-year. The growth in revenue was led by the increase in consumer and merchant payments and disbursements of loans through its partners on Paytm.
UK consumer confidence plunges to record low amid cost-of-living crisis
May's result, down two points from April to minus 40, is one point below the previous record set in July 2008, when the headline score plunged to minus 39, Xinhua news agency quoted Joe Staton, client strategy director at the GfK, as saying on Friday. "This means consumer confidence is now weaker than in the darkest days of the global banking crisis, the impact of Brexit on the economy, or the Covid shutdown," he added.
Joe Biden tours Samsung chip plant in S.Korea amid supply chain woes
The two met at the facility in Pyeongtaek, 70 kms south of Seoul, shortly after Biden arrived in the country on his first visit as president and only 10 days after Yoon took office, reports Yonhap news agency.
Grounded airline Jet Airways to fly soon, DGCA grants operator certificate
The Naresh Goyal-founded airline operated its first commercial flight in May 1993 but had ceased operations in early 2019 due to some financial difficulties. Before this, Jet Airways flew to over 65 destinations in India and across the world with 124 narrow-body and wide-body aircraft.
RBI approves Rs 30,307 cr as dividend to Centre for FY22
The 596th meeting of the Central Board of Directors of Reserve Bank of India was held on Friday at Mumbai under the Chairmanship of Governor Shaktikanta Das, and reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
Equities recover previous losses led by gains in media, realty, metal stocks
China's cutting of its key lending rate also supported the indices back home. In a bid to stimulate economic activity hit by the latest outbreak of the Covid, the Chinese central bank cut the five-year prime rate by 15 basis points to 4.45 per cent.
Now Amazon takes a dig at metaverse as Zuckerberg makes grand plans
Addressing the 'Future of Everything Festival' by The Wall Street Journal, Limp said that even with current technology like smartphones and wireless earbuds, it can be hard to communicate with his kids, even when they're in the same house. "I want to try to work on technologies that bring people's heads up, get them to enjoy the real world, make the family a more communal experience," he was quoted as saying at the event.
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