People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI File Photo)
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI File Photo)

Sensex scales 50,000; Reliance gains on nod for Future deal

Investor sentiment was also boosted with global equity benchmarks hitting record highs on Wednesday on expectations of further US stimulus from newly inaugurated US President Joe Biden's administration.
Reuters, Bengaluru
UPDATED ON JAN 21, 2021 10:34 AM IST

Indian shares rose to a record high on Thursday, with the benchmark index scaling the 50,000 level for the first time, boosted by heavyweight Reliance Industries after the country's stock exchanges approved its deal with Future Group.

The blue-chip NSE Nifty 50 index rose 0.44% to 14,708 and the benchmark S&P BSE Sensex was up 0.45% at 50,014.55 by 0346 GMT.

Investor sentiment was also boosted with global equity benchmarks hitting record highs on Wednesday on expectations of further US. stimulus from newly inaugurated US President Joe Biden's administration.

Reliance shares rose 1.7% after Indian stock exchanges on Wednesday gave the go-ahead for Future Group's $3.4 billion deal to sell its retail assets, taking it a step closer towards closing a deal that has soured ties with its business partner Amazon.com Inc.

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UK investigates Apple's App Store for 'stifling competition' and 'hurting consumers' (Reuters File Photo)
UK investigates Apple's App Store for 'stifling competition' and 'hurting consumers' (Reuters File Photo)

UK probes Apple's App Store for 'stifling competition' and 'hurting consumers'

PTI
PUBLISHED ON MAR 04, 2021 08:57 PM IST
UK's competition watchdog, the Competition and Markets Authority, said Thursday it was looking into “suspected breaches of competition law" by Apple. The App Store, Apple responded, is “a safe and trusted place for customers.”
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A branch of State Bank of India (SBI) is seen.(Mint)
A branch of State Bank of India (SBI) is seen.(Mint)

SBI to conduct property e-auction tomorrow: Here’s what you need to know

By hindustantimes.com | Edited by Mallika Soni
UPDATED ON MAR 04, 2021 08:34 PM IST
  • As per SBI’s official website, the properties that are included in the auctions are those of defaulters who failed to pay their dues.
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The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)
The EPFO has decided it will pay an 8.5% interest on deposits based on the current position of earnings and deposits of the organisation.(File photo)

EPFO retains 8.5% interest on EPF deposits: Here's how it is calculated

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 04, 2021 07:22 PM IST
  • Here’s how you can calculate the EPF interest
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Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)
Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.(Greg Allen/Invision/AP)

Square to pay $297 mn for majority stake in Jay-Z's Tidal, appoint him to board

Posted by Kunal Gaurav | Bloomberg
PUBLISHED ON MAR 04, 2021 07:09 PM IST
Jay-Z acquired Tidal for $56 million in 2015 and announced plans to turn it into the first artist-owned streaming service.
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FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. Picture taken October 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo(REUTERS)

WhatsApp adds voice and video calling feature to desktop version

Posted by Harshit Sabarwal | Reuters
PUBLISHED ON MAR 04, 2021 06:12 PM IST
The move to facilitate calls over large screens would put WhatsApp on par with video-conferencing bigwigs Zoom and Google Meet, but it is not clear if it has ambitions to compete with the two in the enterprise space.
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Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)

OPEC+ debates whether to raise or freeze oil output as price recovers

Reuters, Dubai/moscow
PUBLISHED ON MAR 04, 2021 05:54 PM IST
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.
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The Stoxx 600 Index slipped 0.7%, dragged lower by miners as gold held near a nine-month low. S&P 500 and Nasdaq 100 contracts declined though were off their session lows, spurred by the 10-year Treasury yield approaching 1.5% on Wednesday and rising inflation expectations.(AFP)
The Stoxx 600 Index slipped 0.7%, dragged lower by miners as gold held near a nine-month low. S&P 500 and Nasdaq 100 contracts declined though were off their session lows, spurred by the 10-year Treasury yield approaching 1.5% on Wednesday and rising inflation expectations.(AFP)

Inflation rise expectation, long-term borrowing show US markets at risk

Bloomberg
PUBLISHED ON MAR 04, 2021 04:56 PM IST
In an appearance at a Wall Street Journal webinar later today, Powell is expected to say the central bank will be ultra-patient in pulling back its support for the economy after the pandemic has ended.
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The European Commission is proposing binding pay transparency legislation to help close a pay gap that sees women paid 14.1% less than men across the 27-nation bloc. REUTERS/Francois Lenoir/File Photo(REUTERS)
The European Commission is proposing binding pay transparency legislation to help close a pay gap that sees women paid 14.1% less than men across the 27-nation bloc. REUTERS/Francois Lenoir/File Photo(REUTERS)

Employers may be barred from asking about candidates’ pay under new EU rules

Bloomberg
UPDATED ON MAR 04, 2021 04:54 PM IST
  • “Previous pay has no bearing on skills and the abilities of the applicant for work and that’s why we believe this must not be revealed if the employee does not want to.” EU Equality Commissioner Helena Dalli said.
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FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo/File Photo(REUTERS)
FILE PHOTO: An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo/File Photo(REUTERS)

Apple faces UK antitrust investigation into App Store

Posted by Harshit Sabarwal | Bloomberg
UPDATED ON MAR 04, 2021 04:26 PM IST
The Competition and Markets Authority said it plans to investigate Apple’s potentially “dominant” position in the supply of apps on iPhones and iPads.
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The change in Indian FDI regulations came against the backdrop of reports that Chinese firms were eyeing the acquisition of Indian companies hit by a fall in their valuation amid the economic slowdown.(Mint)
The change in Indian FDI regulations came against the backdrop of reports that Chinese firms were eyeing the acquisition of Indian companies hit by a fall in their valuation amid the economic slowdown.(Mint)

FDI rises 40 per cent to $51.47 billion in April-December 2020-21: Govt data

Posted by Harshit Sabarwal | PTI
PUBLISHED ON MAR 04, 2021 04:21 PM IST
India has attracted 22 per cent higher FDI inflow (including re-invested earnings) of USD 67.54 billion during the first nine months of the current fiscal as against USD 55.14 billion in the same period of 2019-20.
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The 10-year rule is applicable to jobs paying up to 50,000 rupees a month(Sanjeev Verma/ Hindustan Times)
The 10-year rule is applicable to jobs paying up to 50,000 rupees a month(Sanjeev Verma/ Hindustan Times)

Haryana's new hiring rule spells 'investment disaster', industry body warns

Reuters, New Delhi
PUBLISHED ON MAR 04, 2021 04:21 PM IST
  • Haryana's rule affects firms including India's biggest carmaker Maruti Suzuki and business process outsourcing firms such as Genpact.
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Representational image. (Getty Images/iStockphoto)
Representational image. (Getty Images/iStockphoto)

EPFO cheers working class by keeping interest rates on PF unchanged at 8.5%

By Zia Haq
PUBLISHED ON MAR 04, 2021 03:39 PM IST
According to prevailing EPFO norms, at least 12% of an employee’s basic salary is compulsorily deducted to be saved in provident fund, while an employer co-contributes another 12%
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Tesla CEO Elon Musk.reuters(MINT_PRINT)
Tesla CEO Elon Musk.reuters(MINT_PRINT)

The metal that worries Tesla most is getting much cheaper

Bloomberg
PUBLISHED ON MAR 04, 2021 03:38 PM IST
Elon Musk said in February that nickel was Tesla’s top concern for scaling lithium-ion cell production and was behind a shift to using iron for some EV batteries instead.
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However, 12 of the 14 major nifty sub-indexes finished Thursday's session in the red.
However, 12 of the 14 major nifty sub-indexes finished Thursday's session in the red.

Sensex, Nifty snap three-day rally as metals, financials slide

Posted by Harshit Sabarwal | Reuters
UPDATED ON MAR 04, 2021 04:10 PM IST
Indian shares had recovered from the previous week's sell-off at the start of the week, thanks to positive news around the country's Covid-19 vaccination drive and upbeat domestic economic growth data.
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Apple said the feature will not remove anything from the iCloud Photo Library.(File photo for representation)
Apple said the feature will not remove anything from the iCloud Photo Library.(File photo for representation)

Apple now lets you automatically transfer images from iCloud to Google Photos

ANI, Washington
PUBLISHED ON MAR 04, 2021 03:19 PM IST
Apple said that the transfer will take between three days to a week.
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