PayPal Holdings Inc has made a $45 billion approach for buying digital social media company Pinterest Inc. Pinterest has been offered $70 per share, primarily in stock, by PayPal. By the time it announces quarterly profits on November 8, the online payments platform aims to have successfully negotiated and announced a contract. Sources claim, that the current discussion is secret and discreet.
Courtesy: Outlook India
Gita Gopinath who is known as the first female chief economist of the International Monetary Fund (IMF) has decided to leave the organisation in January 2022. Following the resignation, Gopinath will again join the Economics Department of Harvard University. Announcing the development, IMF's Managing Director Kristalina Georgieva thanked Gopinath for ''her tremendous impact on the global crisis lender's work''. Notably, Gopinath had joined… read-more
Courtesy: Live Mint
Reliance Industries bought 52% stake in the fashion brand, Ritu Kumar. However, no financial details have yet been unveiled by the company. Reportedly, Reliance also bought a 40% stake in Manish Malhotra’s fashion house. Furthermore, Birla Fashion and Reliance bought 51% stake in Sabyasachi. “The discretionary wallet spend on products of the top 20 million customers is what we remained focused on”, said… read-more
Zee on October 12 stated that Invesco's objection to a merger agreement of TV network with Sony's-India-subsidiary is hypocritical given US-investment company promoted a similar transaction earlier this year. Invesco attempted to merge the company with "certain entities owned by a large Indian group," in February allowing Zee CEO Punit Goenka to lead the amalgamated-organisation. Invesco, which earlier acknowledged Goenka's reputation, is now… read-more
Courtesy: Deccan Herald
The price of Ten gram of 24-carat gold on October 15 reached Rs 47,970 following the hike by Rs 680. While Silver was at Rs 63,200 per kg. In Delhi, Mumbai, and Chennai, 10 gram of 22-carat gold was priced at Rs 46,840, 46,970, and 45,050 respectively. However, 24-carat gold was priced at Rs 51,110, Rs 49,140, and Rs 47,970 in Delhi, Chennai, and Mumbai respectively.
Courtesy: Business Standard
The Department of Food and Public Distribution has asked major oil-producing states to take required measures to ensure the reduction in the prices of edible oils. The directions have been given to eight states, including Tamil Nadu, Gujarat, and Uttar Pradesh. The reduction would thereby help in bringing down the food inflation levels, by providing relief to customers if prices reduce by Rs 15 to 20 per kilogram.
HCL Technologies has reported a net profit of Rs 3,265 crore in the September quarter, on October 14. The profit is said to have increased by 3.9%, and has surpassed Bloomberg consensus, which is estimated to be Rs 3,196.50 crore. It has also signed 14 new large deals worth $2.3 billion in the September quarter and has also retained its EBIT margin in the range of 19-21%.
Amid the positive trend in global markets, Sensex crossed 61,000-mark to reach 61,159.48 for the first time following the jump of 350 points in the opening trade on October 14. The Nifty also surged to 18,281.50 with a gain of 119.75 points. Reportedly, L&T became the top gainer in the market followed by Infosys, SBI, NTPC, and HDFC Bank. Earlier, the US market closed on a positive note.
Courtesy: Business Standard
The United States Of America has become the world's center for Bitcoin mining. The country accounted for 35.4 percent of the global hash rate, which is a measure used to extract the digital currency. According to reports, China's observed share of Bitcoin mining has hit zero, which is down from as high as a 75% in September 2019.
Petrol and diesel prices have rose yet again on Thursday and have set records, after a two day pause. In Delhi, prices of petrol and diesel were raised by Rs 0.35 to Rs 104.79 per litre and Rs 93.25 per litre, respectively. In Mumbai, petrol rates were increased by Rs 0.34 to Rs 110.75, and diesel rates by Rs 0.37 to Rs 101.4 per litre.