Top Headlines: Rishi Sunak to be UK's next PM, Samvat 2079 stocks & more

To record all the words ever spoken by humankind, five exabytes of storage would be enough. Mukesh Ambani’s telecom customers used up nearly six times as much data last quarter. Former British finance minister Rishi Sunak is set to become Britain’s next prime minister as his rivals quit the race, which analysts said, relieved some of the nervousness around the outlook for the UK economy. Read more on these in our morning brief of top headlines.

Here's how Mukesh Ambani will use financial services to tighten DNA loop

To record all the words ever spoken by humankind, five exabytes of storage would be enough. Indian tycoon Mukesh Ambani’s telecom customers used up nearly six times as much data last quarter. As the billionaire businessman targets his 428 million subscribers with a new 5G service and seeks to lure another 300 million feature-phone users to smartphones, the challenge facing him has changed. Read more
 

Rishi Sunak to be UK's first Indian-origin PM as his rivals quit the race

Former British finance minister Rishi Sunak is set to become Britain’s next prime minister as his rivals quit the race, which analysts said, relieved some of the nervousness around the outlook for the UK economy, boosting domestic markets. The 42-year-old will become the country’s third prime minister in less than two months, after his predecessor, Liz Truss, was brought down after just six weeks in office by an economic programme that roiled markets. Read more
 

Samvat 2079: From Ultratech to RIL, stock picks to fire up the new year

The year gone by was a volatile one for markets. This trend could continue in the near term, given the multiple uncertainties related to the Russia-Ukraine stand-off, global and domestic rate-hike cycles, global economic slowdown, and more importantly, staggering inflation. Indian markets have been resilient and outperformed most emerging market peers. With expectations of a rebound in the second half of 2022-23 and softening inflation, most brokerages are betting on the twin themes of domestic recovery and rising consumption. Read more
 

Caught in global maelstrom, rupee, govt bonds likely to weaken further

Indian government bonds and the rupee are likely to weaken in the year ahead as a series of adverse global developments has led to a rapid tightening of financial conditions, even as the sustainability of domestic growth recovery remains to be seen. At the end of Samvat 2078, the yield on the 10-year benchmark government bond had climbed a massive 126 bps, reflecting the significant degree of monetary policy tightening carried out by the RBI in the face of persistent inflationary pressure. Read more
 

Govt mulls way of protecting online consumers from 'reward'-based reviews

In a bid to make it easier for consumers to know whether the review they are reading of a product or service is entirely independent or based on the reviewers getting ‘rewards’, the Bureau of Indian Standards (BIS) has proposed a solution. In addition, in a draft revising the Standards on Online Consumer Reviews: Principles and Requirements for Their Collection, Moderation and Publication, the BIS has suggested that the administrators of online sites should not account ratings collected with rewards when calculating the overall rating of a product or service. Read more