Top events today: Apple launch event, Jack Ma hangs his boots, and more

SBI cuts MCLR by 10 basis points, to come into effect from today

The country’s largest lender, State Bank of India (SBI), has cut its key lending rate MCLR by 10 basis points (bps) across all tenors from Tuesday. It also reduced the interest rate on term deposits. The one-year marginal cost of funds-based lending rate (MCLR) would come down to 8.15 per cent from 8.25 per cent from September 10. This is the fifth consecutive cut in MCLR in the current financial year (FY 2019-20), the SBI said in a statement. Read More

Apple iPhone 11 launch to be broadcast live on YouTube

Apple fans will be able to watch the unveiling of the awaited iPhone 11 lineup on YouTube this year. Until now, the iPhone maker restricted the live streaming to its own ecosystem of devices, platforms, and chosen browsers. Now, as The Verge reports, for the first time, Apple will have a wider viewership through YouTube. This year, Apple is expected to introduce three iPhone 11 models, including a high-end iPhone 11 Pro version with the triple camera setup. The event will kick start at 10 AM PT on September 10, 2019.

Prabhat Dairy delisting

Shares of Prabhat Dairy, which sold its milk distribution business to French major Lactalis in January, rallied 20 per cent on Friday, a day after the company announced it was looking to delist from the exchanges. The stock was locked in an upper circuit band, closing trade on the BSE at Rs 78.15 per share after the company’s promoters said they were looking to buy back 49.9 per cent from public shareholders. They hold 50.1 per cent in the company. Read More

Jack Ma retires

Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460 billion juggernaut at a time when the market for its core e-commerce business has slowed sharply. As Ma, who turns 55 on Tuesday, holds centrestage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under his heir Daniel Zhang.

IAF's 17 Squadron to be resurrected Tuesday; to be first Rafale unit

The Indian Air Force on Tuesday is expected to resurrect its 'Golden Arrows' 17 Squadron which will be the first unit to fly the multi-role Rafale fighter jets. IAF Chief B S Dhanoa will resurrect the 17 squadron at an event on Tuesday at the Ambala Air Force Station as it prepares to receive the Rafale jets, official sources said. The 'Golden Arrows' 17 Squadron was commanded by Air Chief Marshal Dhanoa during the Kargil war in 1999. Read More