BUSINESS
Bitcoin value drops by 50% since November peak
The world's largest cryptocurrency by market value has now fallen by 50 per cent since its peak in November last year. The slide in the value of digital assets comes as stock markets around the world also dropped in recent days. On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2 per cent.
Retail sector surpasses pre-pandemic levels with 47% y-o-y growth: Report
The re-opening of brick-and-mortar stores have resulted in a sharp rise in the retail job market. Easing of Covid-19 curbs have resulted in consumers frequenting recreational centres such as malls, creating a demand for retail talent following improvement in supply chain disruptions and global mobility resuming, growth has been witnessed in import and export (up 29 per cent) and travel and tourism (up 15 per cent) sectors as well.
Indian equities start new week in red
Asian markets started the fresh week on a volatile note as the US stocks took a hit on interest rate worries. At 9.28 a.m., Sensex was 801 points or 1.5 per cent down at 54,034 points, whereas Nifty 242 points or 1.4 per cent down at 16,168 points. "The latest U.S. jobs data cemented expectations the Federal Reserve will remain on its rate-hike path to combat stubbornly high inflation," said Deepak Jasani, Head of Retail Research, HDFC Securities.
WATCH | Nirmala Sitharaman gets up from seat to offer water to NSDL MD, receives praise
The event was held in Mumbai on Saturday on the occasion of the silver jubilee of NSDL. Sitharaman attended the event and launched the NSDL investor awareness programme for students - Market ka Eklavya. As seen in the video, widely shared on various social media platforms, the NSDL MD paused amid her speech and apparently asked for water from the hotel staff.
Jet Airways gets MHA security clearance to resume flight operations
The security clearance come in wake of the proposed change in Jet Airways's management control and shareholding pattern, for the scheduled operator permit, according to officials privy to the development. The government move came after the Jalan Kalrock Consortium became the new promoter of the airline and approached the government for the security clearance. The airline, earlier owned by Naresh Goyal, had operated its last flight on April 17, 2019 before a financial crunch led to suspension of its operations.
Tesla sues former engineer for stealing supercomputer tech secrets
The Verge reported, citing court documents, that the electric car-maker has sued Alexander Yatskov for downloading the confidential information to his personal devices which he declined to give back. Yatskov violated company's policies by "removing Tesla confidential information from work devices and accounts, accessing it on his own personal devices, and creating Tesla documents containing confidential Project Dojo details on a personal computer".
Energy experts fear India's turn to 'dirty coal' commercially unviable
They say combined with the global pandemic and the Ukraine-Russia war, which has increased coal prices internationally, it should be a death knell for coal. The time to ramp up wind and solar is now so that India is prepared to deal with a warming world.
LIC IPO Day 5: Overall issue subscribed 1.79 times
The issue opened for subscription on Wednesday (May 4) and continues to see strong interest from all investor categories.
The portion reserved for eligible policy holders was subscribed 5.04 times, reservation for eligible employees was subscribed 3.79 times, retail category was subscribed 1.59 times, the non-institutional category witnessed subscription of 1.24 times, and qualified institutional buyers category saw subscription of 0.67 times.
RBI rate hike a surprise as it came between 2 review meetings: Sitharaman
"It is the timing which came as a surprise to many, but the act people thought should have been done anyway - to what extent could have varied," she said at The Economic Times Awards for Corporate Excellence in Mumbai on Sunday.
Jeff Bezos donates nearly $120 mn to nonprofit: Report
According to a Securities and Exchange Filings (SEC) filing, Bezos transferred 47,727 shares of Amazon stock to an unnamed nonprofit, worth a total of $118 million based on that day's closing stock price, reports Forbes.
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