BUSINESS
17mn US workers hit by Covid-triggered economic setback
This is the figure as of October this year, Xinhua news agency quoted the report published by the Ascent, a website focused on financial services, using data from the Washington-based think tank Economic Policy Institute. Among those people who had suffered some sort of economic setback resulting from the pandemic, 7.4 million were, at some point, officially unemployed.
Inflation trend, US Fed rate decision to set course for equities
Besides, investors will look out for other major factors like global oil prices along with progression of Covid-19's Omicron variant. Last week, both the key indices - S&P BSE Sensex and NSE Nifty50 - gained the most in eight weeks on a relief rally from the overwhelming fears about Omicron variant of the coronavirus. However, the bounce ran out of energy towards the end of the week and just ahead of the US inflation data.
Speedbreaker: Semiconductor issues still hurting but supply constraints easing says Hyundai
Besides, the automobile major expects healthy demand to sustain during the initial phase of next year. In conversation with IANS, Hyundai Motor India's Director Sales and Marketing Tarun Garg said though it is hard to give a timeline for normal supply of semiconductors, however, the shortages have eased. "Semiconductor and input cost issues are global in nature but things are getting better. "
PM to address depositors in bank deposit insurance programme
Deposit insurance covers all deposits such as savings, fixed, current, recurring deposits, among others in all commercial banks, functioning in India. Deposits in State, Central and Primary cooperative banks, functioning in States or Union Territories are also covered. In a path-breaking reform, bank deposit insurance cover was enhanced from Rs 1 lakh to Rs 5 lakhs.
Indian-origin CEO Vishal Garg 'taking time off effective immediately': Report
According to Motherboard, the digital mortgage company's board of directors said in an email that the company has also hired an outside firm to "do a leadership and cultural assessment". The company did not immediately respond to a request for comment.
US consumer prices rise at fastest annual pace in almost 40 yrs
The consumer price index (CPI) last month rose 0.8 per cent from the previous month and 6.8 per cent from a year earlier, the largest 12-month increase since the period ending June 1982, Xinhua news agency quoted the Department as saying on Friday.
India's foreign exchange reserves down over $1.7 bn
The Reserve Bank of India's forex reserves decreased to $635.905 billion from $637.687 billion reported for the week. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
CAIT urges SEBI to stop PharmEasy's IPO
Citing a Delhi High Court order passed in 2018, the traders' body said that sale of medicines over the internet is not allowed. API Holdings, the parent company of the e-pharmacy firm PharmEasy has reportedly filed the 'Draft Red Herring Prospectus' to the market regulator recently.
India's Oct industrial production eases sequentially to 3.2%
The rise in Index of Industrial Production (IIP) for October marginally eased to 3.2 per cent from 3.30 per cent in September 2021. Similarly, on a year-on-year basis, the October output showed a decelerating trend from a growth of 4.5 per cent reported for the corresponding period of the previous fiscal.
Production cuts on semiconductor shortage dent Nov PV sales
"Industry continues to face headwinds due to global semi-conductor shortage," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said. "In the festive season, industry was hoping to make up for the lost ground, but the sales in the month of November 2021, were lowest in seven years for passenger vehicles, lowest in 11 years for two-wheelers, and lowest in 19 years for three-wheelers."
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