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2:20 AM

Huawei says US pressure on Brazil threatens long delays in 5G rollout

A Huawei Technologies executive warned that Brazil could suffer years of delay in deploying a 5G telecoms network and higher costs if it succumbs to mounting U.S. pressure to snub the Chinese equipment supplier.

His remarks come as the Trump administration steps up efforts to limit Huawei’s role in rolling out high-speed, fifth-generation technology in Latin America’s largest economy. U.S. Ambassador Todd Chapman has even suggested Washington is willing to fund the purchase of gear from other suppliers for Brazil.

2:19 AM

Wall Street ends lower after strong recent rally as COVID cases mount

U.S. stocks eased on Tuesday as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. Large parts of the United States reported tens of thousands of new coronavirus infections. New York expanded its travel quarantine for visitors from three more states, while Florida’s greater Miami area rolled back its reopening.

 

The Nasdaq outperformed the other two main indexes and claimed another record intraday high before ending down on the day. Strategists said investors may be taking profits after the recent run higher.

2:18 AM

Oil prices steady as economic data overshadows coronavirus worries

Oil prices settled little changed on Tuesday as demand concerns due to a new surge in coronavirus cases overshadowed US government forecasts for lower production.
 

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel. Early in the session, the market popped because of the higher forecast demand, and more bullish jobs data, said Phil Flynn, senior analyst at Price Futures Group in Chicago. But the market gave up the gains as focus returned to rising coronavirus cases.

12:25 AM

JNU to conduct exams for students who failed to take online tests

JNU VC M Jagadesh Kumar on Tuesday said the varsity will be conducting exams for the students who were unable to take them online, a day after the HRD Ministry decided not to cancel the final year exams in universities in view of the coronavirus pandemic.

 

Final year exams in universities will have to be conducted by September-end this year, the HRD Ministry announced on Monday, deferring the schedule from July in view of the spike in Covid-19 cases.

 

However, students unable to appear in final year exams in September will get another chance and universities will conduct special exams "as and when feasible", according to the revised guidelines issued by the University Grants Commission (UGC).

 

The decision by the HRD Ministry came following a nod from the Ministry of Home Affairs (MHA) to conduct the exams as per the standard operating procedure (SOP) approved by the Ministry of Health and Family Welfare.

11:53 PM

Jio Platform gets Rs 43,574 cr from Facebook for stake sale

Jio Platforms, the parent firm Reliance Jio, has received Rs 43,574 crore investment from Facebook for a 9.99 per cent stake in the company, Reliance Industries said in regulatory filing on Tuesday.

The deal between Jio Platforms and Facebook was announced on April 22.

"We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, today received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc)," RIL said in the filing.

11:53 PM

YES Bank Board okays fund raising by Further Public Offering

YES Bank on Tuesday said that its Capital Raising Committee of the Board of Directors has approved raising funds by way of a further public offering.

 

The committee took the decision at its two-hour long meeting on Tuesday.

 

"The Capital Raising Committee of the Board of Directors of the Bank ('CRC"'), at its meeting held earlier today i.e., July 7, 2020, has approved raising funds by way of a further public offering," the bank said in a regulatory filing.

11:44 PM

Mary Trump's book offers devastating portrayal of US president

President Donald Trump's niece offered a devastating portrayal of him in a book that credits a perfect storm of catastrophes" for exposing the president at his worst.

 

Mary L Trump, a psychologist, writes that the coronavirus pandemic, the possibility of an economic depression and deepening social divides have brought out the worst effects" of Donald Trump's pathologies, which were less evident when the country had a stable economy and the lack of serious crises.

 

Those factors, along with Donald's penchant for division, and uncertainty about our country's future have created a perfect storm of catastrophes that no one is less equipped than my uncle to manage," she writes.

 

The president's brother Robert tried to bar publication of the book. Early copies of the book, slated for publication next week, became available on Tuesday.

11:41 PM

11:28 PM

Will examine UGC guidelines on UG, PG exams: Rajasthan minister

Two after his government decided to cancel examinations for undergraduate and postgraduate courses, Rajasthan Higher Education Minister Bhanwar Singh Bhati said they will look into the fresh UGC guidelines and take a decision after discussions at the highest-level in the state.

However, the minister said they will apprise the University Grants Commission (UGC) of difficulties in holding the exams.

Bhati said the decision of not conducting the examinations was taken in view of the coronavirus pandemic, transportation and other problems.

11:18 PM

GMR completes deal with Groupe ADP for airport business; receives Rs 4,565 crore in second tranche