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.
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.”
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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%
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.
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.
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.