BUSINESS
Musk being probed by federal authorities over $44 bn deal, claims Twitter
Twitter also accused Musk's legal team of "failing to produce draft communications with the Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission as part of the two sides' ongoing litigation over whether Musk can walk away from the deal", the report mentioned.
Emerging markets, developing countries being hit by triple blow: IMF chief
"In this environment, we also must support vulnerable emerging markets and developing countries," Georgieva said at a press conference on Thursday during the IMF and World Bank annual meetings. More than a quarter of emerging economies have either defaulted or had bonds trading at distressed levels, and over 60 per cent of low-income countries are in, or at high risk of, debt distress, according to the IMF.
Technological transformation has led to good governance: FM
Speaking on the topic "Technology, Finance and Governance: The Multiplier Effect" at the John Hopkins School of Advanced International Studies in Washington, the Finance Minister said, "Good governance in India is being achieved through technology transformation, especially in the last two years." It has also helped in scaling and integration of micro, small and medium enterprises in India, the Finance Minister said.
Apple joins Goldman Sachs to launch high-yield savings accounts for users
Apple Card users will be able to grow their rewards in Apple Wallet by automatically depositing their Daily Cash into a new high-yield savings account from Goldman Sachs. In the coming months, Apple Card users will be able to open the new high-yield Savings account and have their Daily Cash automatically deposited into it � with no fees, no minimum deposits, and no minimum balance requirements, said the tech giant.
Finance Minister calls for infrastructure investments, simple international taxation rules
During her interventions in the conference, which is taking place on the sidelines of the IMF-WB annual meetings, Sitharaman focussed on infrastructure investments and international taxation. On scaling up sustainable and digital infrastructure investments, she highlighted the need to leverage private sector participation.
Sweden's inflation hits highest in 30 yrs
Electricity prices have increased by 54.2 per cent, and food and non-alcoholic beverages by 16.1 per cent over the past 12 months, Xinhua news agency reported. Prices also increased for repair and maintenance of dwellings, furnishing and household equipment, restaurant visits, accommodation services as well as miscellaneous goods and services. According to analysts, the fight against soaring inflation is far from over.
German annual inflation hits record 10% in September
Inflation has remained above 7 per cent for seven months now, it added on Thursday. Energy prices in Europe's largest economy rose by 43.9 per cent year-on-year, with particularly sharp increases registered for household energy. Natural gas was 95 per cent more expensive than last year and prices for heating oil even more than doubled, Xinhua news agency reported.
Global economy faces confluence of challenges: Nirmala Sitharaman
While addressing the closing session of the G20 Finance Ministers and Central Banks Governors (G20FMCBG) meeting in Washington D.C., on Thursday, she said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility.
Infosys posts Rs 6,021 crore PAT, announces buyback of shares
Approving the accounts, the company Board declared an interim dividend of Rs 16.50 per share. According to Infosys, it had posted a consolidated revenue of Rs 36,538 crore for the period ended September 30, 2022 (Rs29,602 crore -Q2FY22) and a net profit of Rs 6,021 crore (Rs 5,421 crore).
US core inflation rises to 40-year high
The US Labour Department said on Thursday that core inflation, excluding food and energy prices, rose 6.6 per cent in September from the corresponding period of last year. It was also up from 6.3 per cent in August, making it the highest increase since 1982. On a monthly basis, the core retail inflation rose 0.6 per cent in September, according to official data.
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