End of Covid Pandemic? That's what Pfizer scientists claim!
Mon, Nov 16, 2020 7:10 AM

End of Covid Pandemic? That's what Pfizer scientists claim!

At a time Pfizer said their vaccine candidate was found to be more than 90% effective in preventing Covid-19, two scientists working behind the vaccine on Saturday revealed that it has the power to stop the pandemic. Scientists Ugur Sahin and Ozlem Tureci said that the Pfizer vaccine hinders Covid-19 from gaining access to body's cells or eliminate it even if it manages to gain access.

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Escorts plans to raise annual tractor production capacity to 1.8 lakh units
Mon, Nov 16, 2020 6:45 AM

Escorts plans to raise annual tractor production capacity to 1.8 lakh units

Farm equipment and engineering major Escorts Ltd is planning to increase its overall tractor production capacity to 1.8 lakh units annually to meet the current robust demand for which it will be investing Rs 100 crore in the remaining part of the fiscal, according to a senior company official. The company, which currently has an annual capacity of 1.2 lakh units.

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Walmart to sell most of Japan's Seiyu to KKR and Rakuten
Mon, Nov 16, 2020 6:13 AM

Walmart to sell most of Japan's Seiyu to KKR and Rakuten

U.S retailer Walmart Inc has agreed to sell most of Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten in a deal that values Seiyu at 172.5 billion yen ($1.65 billion), the companies said. KKR will buy 65% of Seiyu and Rakuten will acquire a 20% stake while Walmart will retain 15%, the companies said in a joint statement.

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Social media platform Parler gets backing from Mercer family: Report
Sun, Nov 15, 2020 10:15 PM

Social media platform Parler gets backing from Mercer family: Report

Social media platform Parler, which styles itself as a "free speech-driven" space, gets funding from hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah. U.S. right-wing social media users have flocked to Parler, Telegram and Gab, citing the more aggressive policing of political comments on mainstream platforms such as Twitter Inc and Facebook Inc.

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Grofers looking at 4-fold rise in gross merchandise Rs by 2022
Sun, Nov 15, 2020 9:56 PM

Grofers looking at 4-fold rise in gross merchandise Rs by 2022

Softbank-backed Grofers is expecting its gross merchandise value (GMV) to grow four times to around Rs 30,000 crore by 2022 and focussing on private label products to drive overall sales growth, a top company official has said. The company is adding one-two new cities every month to sell groceries and expecting to to expand its services to over 50 cities by June 2021 from 27 at present.

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Oyo sees slow but steady recovery of co-living, co-working business
Sun, Nov 15, 2020 9:54 PM

Oyo sees slow but steady recovery of co-living, co-working business

BENGALURU : Hospitality unicorn Oyo expects its co-living and co-working businesses to recover in a slow but steady manner, as demand inches back during the ongoing pandemic. Oyo sees affordable and flexible solutions playing a key role in the recovery of the shared working and living segments, and may slow down a bit in terms of growth and expansion, said a top executive.

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NCLT approves Rs 103 crore resolution plan for NIIL Infrastructures
Sun, Nov 15, 2020 9:52 PM

NCLT approves Rs 103 crore resolution plan for NIIL Infrastructures

The National Company Law Tribunal (NCLT) has approved a Rs 103-crore bid to acquire debt-ridden NIIL Infrastructures, which is developing a housing project in Agra, Uttar Pradesh. A two-member Principal bench of NCLT, headed by Acting President BSV Prakash Kumar, has approved the Rs 103.18 crore resolution plan by a consortium of Rishabh Verma and Shilendra Khirwar along with N-Homes.

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Zoom to lift 40-minute time limit only for Thanksgiving: Report
Sun, Nov 15, 2020 9:51 PM

Zoom to lift 40-minute time limit only for Thanksgiving: Report

Videoconferencing platform has Zoom announced that it would be lifting its 40-minute limit even for non-paying users on Thanksgiving which is celebrated on November 26 in the US. According to a LiveMint report, this time limit has been a major obstacle amid the coronavirus pandemic, which often forces teams to restart the calls after the time limit comes to an end.

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We are close to 63% visa-independent in US: Infosys
Sun, Nov 15, 2020 3:00 PM

We are close to 63% visa-independent in US: Infosys

Infosys has been "intensely focused" on skilling and generating local employment in markets like the US, which has helped the IT services major become about 63% visa-independent in the US and over 50% in Europe and Aus-NZ, a top company executive said. New proposed immigration regulations in USA could impact onsite wage costs, granting of visas, tenure of visas, and overall costs of compliance.

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M-cap of eight of top-10 most valued firms zooms Rs 1.90 lakh crore
Sun, Nov 15, 2020 2:04 PM

M-cap of eight of top-10 most valued firms zooms Rs 1.90 lakh crore

The combined market valuation of 8 of the top-10 most valued companies zoomed Rs 1,90,571.55 crore last week, with Bajaj Finance emerging as the biggest gainer. The market valuation of Bajaj Finance jumped Rs 35,878.56 crore to Rs 2,63,538.56 crore, becoming the biggest gainer among the top-10 most valued firms. In contrast, the mcap of RIL eroded by Rs 18,392.74 crore to Rs 13,53,624.69 crore.

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TikTok employee withdraws lawsuit against US government: Report
Sun, Nov 15, 2020 1:50 PM

TikTok employee withdraws lawsuit against US government: Report

A TikTok employee who sued the US government over its possible ban of the video-sharing app has chosen to withdraw his case. A filing dated November 13, submitted by Patrick Ryan, stating that both sides were seeking dismissal of the case with prejudice, Bloomberg reported. The case is Ryan v. Trump, 20-CV-05948, US District Court, Northern District of California (San Francisco), the report said.

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ONGC books Rs 1,238 crore impairment loss, Q2 net profit down 55%
Sun, Nov 15, 2020 1:43 PM

ONGC books Rs 1,238 crore impairment loss, Q2 net profit down 55%

ONGC booked a Rs 1,238-crore impairment loss, which together with a fall in prices led to a 55 percent drop in the company "s September quarter net profit. Standalone net profit at Rs 2,878 crore in July-September quarter was 54.6 percent lower than Rs 6,336 crore net profit a year ago, the company said in a statement.

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FPIs remain positive on Indian markets
Sun, Nov 15, 2020 1:41 PM

FPIs remain positive on Indian markets

Foreign portfolio investors (FPIs) have invested a massive Rs 35,109 crore in Indian markets in November so far as corporate earnings and reforms measures undertaken by the government to revive investment activities kept the investors'' sentiment upbeat. According to the depositories data, FPIs invested a net sum of Rs 29,436 crore into equities and Rs 5,673 crore into debt segment in Nov so far.

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Reliance Retail Acquires Majority Stake in Urban Ladder for INR 182 Cr
Sun, Nov 15, 2020 12:45 PM

Reliance Retail Acquires Majority Stake in Urban Ladder for INR 182 Cr

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd (RIL), has acquired equity shares of online furniture startup Urban Ladder Home Decor Solutions Pvt Ltd for INR 182.12 Cr.   Reliance Retail has bought 96% holding in the equity share capital of Urban Ladder and has a further option of acquiring the balance stake, taking its shareholding to 100%, the company informed.

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UK to ban sale of new petrol and diesel cars from 2030: Report
Sun, Nov 15, 2020 12:36 PM

UK to ban sale of new petrol and diesel cars from 2030: Report

British Prime Minister Boris Johnson plans to announce next week a ban on the sale of new petrol and diesel cars from 2030, five years earlier than previously planned, the Financial Times reported on Saturday. Britain had originally planned to ban the sale of new petrol and diesel-powered cars from 2040, as part of efforts to reduce greenhouse gas emissions.

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