BUSINESS
Equities close week in red amid volatility in global market
Domestic market reduced exposure ahead of the shortened next week and opening of India's largest IPO, he said. Besides, dips are encouraging investors to accumulate quality stocks with focus on defensives and domestic growth sectors like manufacturing and capital goods. On Friday, Sensex closed at 57,061 points, down 0.8 per cent or 460 points, while Nifty ended at 17,102 points, down 0.8 per cent or 142 points.
US Fed behind curve, significant recession likely by late next year: Deutsche Bank
Notably, the US is currently witnessing a rise in inflation. "Inflation is too high and unemployment has moved too low to be consistent with stable inflation," the report said. The US Fed's Misery Index has jumped to four decade highs, the report said. "It is noteworthy that in the past, every time this index has moved noticeably above zero, the economy has gone into recession within a few years as a result of monetary tightening."
Now Zilingo fraud saga threatens India's great startup run
After the long-drawn Ashneer Grover-BharatPe saga that put corporate governance on top of the stakeholders' minds, Singapore-based fashion-tech startup Zilingo asked Bose - who co-founded Sequoia Capital-backed Zilingo as a 23-year-old in 2015 -- to stay out of office till May 5, accusing her of inflating revenues.
Amazon Fire TV Cube now supports audio streaming for hearing aids
The company said that this makes Fire TV the first-ever streaming media player to support ASHA. "With this feature, your hearing aids connect with Fire TV at the system level, so you can not only enjoy audio from your favourite apps but also Alexa, music, navigational sounds, and more," the company said in a blogpost.
Samsung ends deadlock with workers, agrees to 9% pay raise for 2022
The world's largest memory chip and smartphone maker reached an agreement with representatives of its employees over wages and other labour policies, including paid leave. The announcement was said to be made internally earlier in the day, according to the sources, reports Yonhap news agency.
'GST Council's GoM to recommend best practices to tax online gaming, horse racing'
Speaking to reporters ahead of the GoM in the national capital on May 2, Godinho, the state's representative to the Council, also said that after the recommendations made by the GoM, the GST council would take a final call on the taxation policy for the three services.
GST Council meet: Extension of compensation cess to be in focus
Among the many items on the Council's agenda, the extension of the GST compensation cess to states could turn out to be a contentious issue if the government refuses to accede to the request, given its vociferous demand from several opposition-rules states.
Spice Money ties up with Religare Broking for rural populace to apply for LIC shares
The life insurance giant is coming out with a premium initial public offering (IPO). Spice Money offers essential digital financial and e-retail services such as cash deposit and Aadhaar led withdrawals, mini ATM services, bill payments and recharge, money transfers, loans, tours and travel and more to the rural citizens through Spice Money Adhikari App.
Biocon Q4 results: Consolidated revenue growth recorded at Rs 2,476 Cr, up by 21%
During the year-ago period, the Bengaluru-based biopharma giant reported a net profit of Rs 253 crore on revenue of Rs 2,048 crore. The company recorded a decline of 6 per cent compared to Q4 of last year and 12 per cent decline in comparison with the financial year 2021. The 2021 net profit stood at Rs 740 crore. The figures for 2022 stood at Rs 648 crore, as per the official statement.
Equities tad up in early trade, analysts see volatility going ahead
At 9.46 a.m., Sensex was 0.3 per cent up at 57,668 points, whereas Nifty was 0.1 per cent up at 17,263 points. Even though the indices are in the green, analysts expect volatility to continue in Dalal Street.
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