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Attorney General KK Venugopal grants consent for initiating criminal contempt against stand up comedian Kunal Kamra, for his alleged derogatory tweets against a SC judge. Tune in for LIVE updates.

2:03 AM

Chinese President Xi Jinping decided to halt Ant's IPO: Report

China's President Xi Jinping personally decided to pull the plug on Ant Group's $37-billion (£28 billion) initial public offering, the Wall Street Journal reported on Thursday, citing Chinese officials with the knowledge of the matter.

 

The decision to stop what would have been the world's largest ever IPO, came days after the fintech giant's billionaire founder Jack Ma launched a public attack on the country's financial watchdogs and banks.

 

President Xi ordered Chinese regulators to investigate and effectively shut down Ant's stock market flotation, the report said https://www.wsj.com/articles/china-president-xi-jinping-halted-jack-ma-ant-ipo-11605203556?mod=hp_lead_pos4.

 

Ant Group did not immediately respond to Reuters request for comment. The Information Office of the State Council, China's cabinet, could not be reached immediately for comment.

1:56 AM

Not my 'last election', Bihar CM Nitish Kumar says remarks misinterpreted

1:54 AM

Wall Street drops as pandemic fears return

Wall Street tumbled on Thursday as US coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine.

 

New York became the latest state to introduce stricter social distancing rules on Wednesday, as new infections in the country surged above 100,000 for an eighth consecutive day.

 

The blue-chip Dow was pulled down by industrial and financial companies sensitive to economic growth, with Boeing Co  and Goldman Sachs each down almost 2 per cent.

1:54 AM

Wall Street drops as pandemic fears return

Wall Street tumbled on Thursday as US coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine.

 

New York became the latest state to introduce stricter social distancing rules on Wednesday, as new infections in the country surged above 100,000 for an eighth consecutive day.

 

The blue-chip Dow was pulled down by industrial and financial companies sensitive to economic growth, with Boeing Co  and Goldman Sachs each down almost 2 per cent.

1:33 AM

UN: 870,000 measles cases in 2019, highest in 23 years

The number of children sickened by measles in 2019 was the highest in 23 years, according to new data published by the World Health Organization and the US Centers for Disease Control and Prevention.

 

In a study published on Thursday, WHO and CDC said there were nearly 870,000 cases of measles last year, and the number of deaths about 207,500 increased by almost 50 per cent since 2016. Officials blamed the record number of cases on a significant drop in vaccination; children must receive two doses of the measles vaccine to avoid being sickened by the highly contagious disease.

1:28 AM

US piles up record October budget deficit of $284.1 billion

The US is starting the 2021 budget year the way the old year ended, with soaring deficits.

 

The Treasury Department reported Thursday that the federal government ran up a record October deficit of $284.1 billion, nearly double the red ink of the same month a year ago, as revenues declined while spending to deal with the impact of the coronavirus soared.

 

The October deficit was almost double the $134.5 billion deficit logged in October 2019. It smashed the previous October record of a $176 billion deficit set in 2009, when the government was spending heavily to lift the country out of a deep recession caused by the 2008 financial crisis.

1:16 AM

US needs tougher antitrust enforcement: Biden transition team expert

The United States should increase enforcement of antitrust laws as part of a general attack on social ills, Bill Baer, who is on President-elect Joe Biden's transition team for the Federal Trade Commission (FTC), said on Thursday.

 

Baer pointed to multi-year battles that the FTC had to fight a series of hospital mergers as well as its ongoing battle against brand name pharmaceutical companies settling patent litigation by paying generic companies to delay entering the market, so-called pay-for-delay deals. The healthcare industry is one that has seen dizzying price increases.

 

"We should care too about under enforcement because it's led to growing concentration in many markets, think agriculture, telecom, wireless, travel, pharma and beer," he said at an American Bar Association conference.

12:43 AM

Trump administration readies crackdown on US investments in Chinese firms: Report

12:05 AM

PM Modi congratulates Myanmar's Aung San Suu Kyi over her party's election win

11:52 PM

Grand Alliance declares Tejashwi its leader; alleges manipulation in counting of votes