Markets
Monetary Policy: RBI Hikes Interest Rates Again; Loans To Get Costlier
The Reserve Bank of India on Wednesday raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. In its third bi-monthly policy review, the central bank kept the GDP forecast for the current fiscal unchanged at 7.4 per cent and saw it at 7.5-7.6 per cent in the second half of the current fiscal. [Full Article...]
Dixons Carphone cyberattack affected 10 million customers
The Dixons Carphone data hack has proved to be one of the UK's biggest breaches. At the time, Dixons Carphone reported that 1.2m records containing non-financial personal data, such as name, address or email address, have also been accessed. [Full Article...]
McDonald’s apologizes after serving pregnant Canadian woman cleaning solution in her latte
Douglas said the concoction was a washed-out brown color, resembling a liquid that had been left out too long. The mum had stopped at a McDonald's drive-thru in Lethbridge in Alberta province and was forced to pull over on the side of the road to spit out the coffee and rinse her mouth with water. [Full Article...]
Huawei takes No 2 spot in phone sales
Since 2010 Samsung and Apple have had the top two positions locked down tight, with no rival maker properly challenging their overall supremacy. Ryan Reith, program vice president with IDC's Worldwide Mobile Device Trackers, says that in most markets worldwide, Apple , Samsung , and Huawei are the major players in the ultra-high end ($700+) competition. [Full Article...]
United States considers increasing planned tariffs on $270b in Chinese imports
Washington imposed additional 25 per cent tariffs on $34 billion of Chinese goods July 6 in response to complaints Beijing steals or pressures companies to hand over technology. Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent USA business groups have condemned Trump's aggressive tariffs. [Full Article...]
BMW to build €1 billion vehicle factory in Hungary
The EU has threatened the United States with countermeasures worth $294 billion if the Trump administration imposes further tariffs on European cars as a result of the ongoing investigation into whether they pose a possible threat to national security. [Full Article...]
Durex recalls condoms over concerns they could burst
The batch number for the Latex Free are as follows: Durex Latex Free 12-Pack - Sku number 3014272: Batch numbers 1000444367 - expiry February 2021 and 1000433145 expires January - 2021. More information about the specific batches affected can be found here . All condoms have an expiry date after which the company can not guarantee they'll do the job they're supposed to, but Durex have recalled t... [Full Article...]
RBI increases key rate to 6.5% on inflation worries
It is the first time since October 2013 that the rate has been increased at consecutive policy meetings. With a general rise in the interest rate in the financial system, the EMIs you pay on your home and auto loans have been rising. Inflation is a worry: Good monsoon and a higher-than-usual increase in government-guaranteed price for crops will raise farmers' income, then rural demand and then i... [Full Article...]