BUSINESS
Elon Musk loses world's richest man's title to Bernard Arnault
According to the Bloomberg Billionaires Index, Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73. Last week, Arnault and his family for the first time logged personal wealth of $185.4 billion, ahead of Musk which recorded a net worth of $185.3 billion, before jumping again to $190 billion.
US charges former FTX CEO with defrauding investors
The SEC report said that Bankman-Fried promoted FTX as a safe, responsible crypto asset trading platform, specifically mentioning the platform's sophisticated, automated risk measures to the investors. However, the complaint claims Bankman-Fried allegedly orchestrated a years-long fraud to conceal from FTX's investors.
Indian rupee records 6.9% depreciation in current FY
Exchange rate depreciation, other factors remaining unchanged, is likely to put upward pressure on prices of imported commodities and as a result, imported items becoming costlier, Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply.
Piyush Goyal, UK Trade Secretary discuss resumption of FTA negotiations
UK Trade Secretary Badenoch is in India to restart the India-UK FTA negotiations, which got stalled in July this year. The negotiations would aim to cut tariffs and facilitate financial and legal services by the UK in India. Badenoch will also meet business leaders to seek their feedback regarding the trade pact.
Cross selling, operational synergies exist with merger of 4 PSU general insurers with LIC
Industry experts had earlier told IANS that the five companies can be merged into one under the composite insurance regime. According to Jefferies, the global experience in favour of the composite insurer are: better cross-sells, operational expense synergies and diversification.
Reliance Industries tops charts on Wizikey Newsmaker Ranking
State Bank of India (SBI), ICICI Bank Limited, Bharti Airtel Limited, and One 97 Communications Limited are in the top 5 corporates on the ranking. The rankings are based on Wizikey's News Score which measures news visibility for brands & individuals by analyzing the volume of news, headlines presence, and the reach of publications.
Nov retail inflation down, RBI's repo rate hike in Feb could be modest'
"It is a pleasant surprise to see the headline CPI inflation print at 5.88 per cent in Nov-22 from 6.77 per cent in Oct-22 since most market participants estimated it to be above 6.0 per cent. This is an 11-month low figure and is clearly driven by the faster-than-expected decline in food inflation which stood at 5.1 per cent in the previous month," Suman Chowdhury, Chief Analytical Officer said.
India CPI - Food falls but what's in store for core?
Cereal inflation has been a concern and was strong in the November print too but rice stock is comfortable and there are recent reports of the Food Corporation of India considering offloading some of its wheat stock to ease prices.
Indigo asks passengers to reach Delhi airport 3.5 hours prior to domestic departures
The airline has also asked the passengers to carry only one piece of hand baggage weighing 7 kg for a smooth security check. The Delhi airports are experiencing high footfalls and the check-in and boarding time are expected to be longer than usual.
Nov retail inflation rate may be down, battle continues
"It is a pleasant surprise to see the headline CPI inflation print at 5.88 per cent in Nov-22 from 6.77 per cent in Oct-22 since most market participants estimated it to be above 6.0 per cent. This is an eleven-month low figure and is clearly driven by the faster-than-expected decline in food inflation which stood at 5.1 per cent in the previous month," Suman Chowdhury, Chief Analytical Officer said.
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