Top headlines: US election heads down to the wire, SBI Q2 profit up 52%

Republic TV editor Arnab Goswami was arrested by police in Mumbai for alleged abetment of suicide in a case registered in 2018.

The fate of the United States presidency hung in the balance, as President Donald Trump and Democratic challenger Joe Biden battled for three battleground states that could prove crucial in determining who wins the White House. Indian employees are likely to witness their monthly paycheck getting a bigger boost next year compared to 2020 as companies are betting on higher consumer demand due to enhanced government spending and bumper rainfall to neutralize the pandemic-led economic contraction, a survey showed. Here is more on what happened on Wednesday.

US Presidency race goes down to the wire, verdict hinges on few key states

The fate of the United States presidency hung in the balance Wednesday morning, as President Donald Trump and Democratic challenger Joe Biden battled for three familiar battleground states — Wisconsin, Michigan and Pennsylvania — that could prove crucial in determining who wins the White House. A late burst of votes in Wisconsin from Milwaukee gave Biden a small lead, but it was too early to call the race. Read More...

SBI standalone Q2 net up 52% to Rs 4,574 cr on rise in net interest income

The country’s largest lender State Bank of India’s (SBI) net profit (on a standalone basis) rose 51.88 per cent to Rs 4,574 crore in the second quarter (Q2FY21) steady rise in net interest income and dip in provisions for bad loans. It had posted a net profit of Rs 3,012 crore in July-September 2019 (Q2FY20). Lender had posted net profit of Rs 4,189 crore in first quarter ended June 2020 (Q1Fy21), the company said in a statement. Read More...

Oct services activity at 54.1, grows for first time in 8 months: PMI

Activity in India's dominant services industry, expanded for the first time in eight months in October as demand surged, but pandemic-hit firms continued to cut jobs, a private survey showed on Wednesday. The findings, coupled with a similar survey on Monday which found Indian manufacturing growth expanded at its fastest pace in over a decade, suggest a recovery in Asia's third-largest economy is under way. Read More...

Nearly 90% companies planning salary hikes in 2021: Aon India Survey

In what might bring some cheer to pandemic-hit India Inc. workforce, global professional services firm Aon’s latest Salary Trends Survey in India has projected that 87 per cent of surveyed companies plan to give salary hikes in 2021. The share of companies projected to offer at least some percentage of salary hike in 2021 is up from 71 per cent in 2020 when the Covid-19 pandemic took a toll on salary increment plans across sectors. The extent of salary hikes is also set to improve in 2021, as roughly 61 per cent of the companies are planning increments of 5-10 per cent as compared to only 4.5 per cent in 2020. Read More...

Mumbai police arrest Arnab Goswami on charges of abetment to suicide

Police on Wednesday arrested Republic TV Editor-in-Chief Arnab Goswami for allegedly abetting suicide of a 53-year-old interior designer, a police official said. The official said a team of Alibaug police picked up Goswami from his residence here. Goswami, who was seen being pushed into the police van, claimed he was assaulted by police at his home, while being taken away. In 2018, an architect and his mother committed suicide over alleged non-payment of dues by Goswamis Republic TV, the official said. Read More...