BUSINESS
Rajnath Singh urges defence production companies to prepare roadmap for next 25 years
Defence Minister Rajnath Singh urged the manufacturers to make a roadmap for the next 25 years and invest in research and development (R&D) and bring new products as they are awaited all over the world.
RBI fighting a lost INR battle, say analysts
The global narrative is undergoing a substantial regional rotation in favour of the US exceptionalism, even as we are unlikely to see the US growth upgrades. The theme of dollar dominance is still alive. While GBPINR is down 4 per cent, USDINR is up 2 per cent since the September FOMC meeting -- one of the worst EM hits.
Adani Group will invest over $100 bn of capital in next decade: Gautam Adani
"This optimism is the wind in my sails that has made us India's most valued business. It is the fire that flames my belief in the India growth story. It is the blue in the sky that Indians believe to be the symbol of the limitless. A democracy whose time has come cannot be stopped and India's time has arrived," Adani said.
Bank of England 'will not hesitate' to raise rates as pound falls
It will make a full assessment at its next scheduled meeting of the impact on demand and inflation from the government's announcements, and the fall in sterling, and act accordingly, the central bank said in a statement on Monday while dampening the prospects of an emergency rate rise to shore up the pound.
Bosses scared that employees slack off while WFH: Satya Nadella
In a recent report on shifting workplace attitudes, the Microsoft CEO commented that some bosses are skeptical of work-from-home culture, reports Windows Central. "We have to get past what we describe as 'productivity paranoia,' because all of the data we have that shows that 80 per cent plus of the individual people feel they're very productive -- except their management thinks that they're not productive," Nadella was quoted as saying.
Musk, Agrawal didn't depose as per court dates, spark speculation
According to a CNN report, citing sources, the dates listed in deposition notices filed with the court are "not always the dates that the two sides agree to officially begin the questioning". The absence of Musk and Agrawal marks another twist in the fierce legal case that is slated to begin in the Delaware Court of Chancery in the US from October 17.
ECB expects economic activity to slow, interest rates to increase further
Addressing a hearing of the European Parliament's Economic and Monetary Affairs Committee, Lagarde on Monday added: "We expect to raise interest rates further over the next several meetings, to dampen demand and guard against the risk of a persistent upward shift in inflation expectations." "Our future policy rate decisions will continue to be data-dependent and follow a meeting-by-meeting approach," she said.
Flipkart says 'anomalies' behind some iPhone 13 order cancellations
Some customers also complained that their refunds were taking a longer time on orders placed during the ongoing "Big Billion Day" sale. A few also tweeted that they received fake handsets although their claims could not be corroborated. The company said in a statement that "a minor fraction of orders (less than 3 per cent of all orders) have been cancelled by sellers due to anomalies".
Nirmala Sitharaman criticises states seeking more funds, says 'You Me' culture won't work
Addressing a CNN-News18 Town Hall event here, she made the comment while responding to Tamil Nadu's demand for more funds. "You can't expect more money just because you generate more money than other states. 'You, me' narrative won't work. A country cannot prosper like that. Revenues earned by states are for India," Finance Minister Nirmala Sitharaman said.
Markets warn pound slump could lead UK interest rates to triple by next year
The pound sterling tumbled to an all-time low of $1.03 against the dollar overnight before recovering to $1.07 in morning trading as traders priced in forecasts of a major intervention from Threadneedle Street to support the currency. Traders expect the central bank to convene a meeting of its monetary policy committee (MPC) soon to hike interest rates from 2.25 per cent to 3 per cent before increasing them further at a scheduled meeting in November, The Guardian reported.
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