Markets
Sensex, Nifty Resume Upmove After A Day's Pause, Led By Metal Stocks
However, a mixed trend was witnessed on the sectoral front wherein consumer durables, realty and auto pack posted decent gains while oil&gas, IT and telecom ended in the red. The mid- and small-cap shares also witnessed buying interest; the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose almost 1 per cent each. Rally in Nifty heavyweights such as Tata Steel (5.30 per cent), Bajaj Finance... [Full Article...]
TikTok owner gets another week to sell its US business
President Donald Trump's administration has expressed national security concerns over the app, claiming it could be used for Chinese espionage and threatening to ban it. ByteDance had submitted a plan to the committee to create a new firm with USA software giant Oracle and others to operate TikTok in the US. The administration has hit TikTok over alleged theft of American users' online data,... [Full Article...]
United Kingdom to launch new competition regime to limit Google, Facebook dominance
Under the new code, tech companies would have to be more transparent about how they use consumers' data. The new code will set clear expectations for the most powerful firms over what represents acceptable behaviour when interacting with competitors and users. [Full Article...]
India enters unprecedented recession with two consecutive quarters of GDP fall
India entered an unprecedented recession with the economy contracting in the three months through September due to the lingering effects of lockdowns to contain the Covid-19 outbreak. The 0.6 percent expansion in manufacturing has come as a pleasant surprise. A V-shaped recovery in FY 22 is in the realm of possibility. Manufacturing rose 0.6%, electricity and gas expanded 4.4% and agriculture ... [Full Article...]
Disney to lay off about 32,000 workers in first half of 2021
Not only they are the leader in animation industry, but also makes movies, TV shows, owns theme parks, hotels, cruise and more. The company announced its plans to cut about 28,000 jobs back in September. The parks have not seen any significant outbreaks of the coronavirus. Walt Disney Co. announced an additional 4,000 job cuts after virus lockdowns forced the closing of its theme parks. [Full Article...]
Alibaba Falls After Ant Group's IPO Is Suspended
As of Tuesday, both Shanghai Stock Exchange (SSE) and Hong Kong Stock Exchange (HKEX) suspended Ant Group's jumbo IPO after Jack Ma was summoned for talks with regulators on November 3, three days prior to its scheduled listing date. With the shock suspension of Ant's IPOs, initially planned for Thursday, spelling out a clearly tougher supervisory stance on online micro-lending - a pivotal p... [Full Article...]
CARS24 raises $200 million
CARS24 Services, an online marketplace for used cars, became the latest startup to join India's unicorn club after raising $200 million in its latest series E fundraising round led by Russia-born billionaire Yuri Milner's DST Global , the company said on Tuesday. [Full Article...]
Crock-Pot Recalls More Than 940000 Multi-Cookers
The issue is caused by the lid detaching while cooking. According to the CPSC, the problematic Crock-Pot multi-cooker model is capable of pressurizing when the lid is not fully locked. The products have been sold for a while now so double-check yours. A statement from the company says they have already addressed the issue and are working on a redesign to ensure safety. [Full Article...]