Bloomberg
Bloomberg
Page 613 - Bloomberg
Scrapping retrospective tax may not be enough to repair India's reputation
Political executive will need to strive for a fairer playing field, writes Andy Mukherjee.
 "Scrapping retrospective tax may not be enough to repair India's reputation")
RBI keeps rates unchanged amid policy dissent on lower-for-longer stance
Policy makers voted 5-1 in favor of keeping the stance accommodative, a departure from the past when they were unanimous on the need to support growth amid the pandemic.
 "RBI keeps rates unchanged amid policy dissent on lower-for-longer stance")
India wants ethanol to fuel its cars, but food inflation is a major risk
The government will fast-track an ethanol program that will divert as much as 6 million tons of sugar toward fuel production annually by 2025, according to the food ministry
 "India wants ethanol to fuel its cars, but food inflation is a major risk")
'Not plug and play': Amazon, Flipkart struggle to meet EV goal in India
Delivery giants find there aren't many models available that can be deployed at scale, and what supply there is can't keep up with demand.
 "'Not plug and play': Amazon, Flipkart struggle to meet EV goal in India")
Bank of England signals 'modest tightening' over the next two years
Policy makers led by Governor Andrew Bailey said they now expect annual price growth to peak higher than expected around 4%
 "Bank of England signals 'modest tightening' over the next two years")
ByteDance furloughs hundreds after China's tutoring crackdown
It's unclear if ByteDance will lay off more employees. Local media had earlier reported the shutting of the services
 "ByteDance furloughs hundreds after China's tutoring crackdown")
US President Biden sets US goal for clean cars to be half of 2030 sales
Biden will be joined at the White House Thursday by representatives of Detroit automakers and the United Automobile Workers union as he unveils an executive order establishing the goal
 "US President Biden sets US goal for clean cars to be half of 2030 sales")
SoftBank Group funding turns India start-up Mindtickle into unicorn
The latest funding takes the total capital raised to $281 million, including a $100 million round last November that was also led by SoftBank
 "SoftBank Group funding turns India start-up Mindtickle into unicorn")
ED said to probe crypto exchange Binance's role in betting app laundering
India is probing betting apps run by Chinese operators, which collected more than Rs 1,000 crore over the past 10 months, for allegedly laundering part of money through the WazirX cryptocurrency
 "ED said to probe crypto exchange Binance's role in betting app laundering")
India should nationalise Vodafone Idea, head off Jio-dominated duopoly
Merging state-run telcos with a nationalised Vodafone Idea could save jobs and capital. Managed professionally, it could be a credible third player.
 "India should nationalise Vodafone Idea, head off Jio-dominated duopoly")
India's worst-performing stock in July may rebound if history is any guide
Shares of pharma firm Dr Reddy's Labs have rallied about 15% after losing steam
 "India's worst-performing stock in July may rebound if history is any guide")
Global hunger to rise in 2021 due to income losses from Covid-19 pandemic
291 million people won't have enough to eat in 2021, according to the US Department of Agriculture.
 "Global hunger to rise in 2021 due to income losses from Covid-19 pandemic")
Kakao Corp founder's $6 bn surge unseats Samsung heir as richest Korean
Brian Kim, the founder of South Korean messaging giant Kakao Corp., is now worth $13.5 billion, according to the Bloomberg Billionaires Index, after Kakao shares rose 90% in 2021 alone
 "Kakao Corp founder's $6 bn surge unseats Samsung heir as richest Korean")
Amazon's recent numbers don't look good: should investors start worrying?
E-commerce sales are clearly slowing, foreshadowing more lackluster revenue results the rest of the year
 "Amazon's recent numbers don't look good: should investors start worrying?")
Big Oil shows confidence that the era of large profits is back
BP Plc and Equinor ASA have already made incremental dividend increases and announced more modest buyback plans
 "Big Oil shows confidence that the era of large profits is back")
Delta variant's spread in Nanjing tests China's Covid containment efforts
An outbreak that started at an airport in the eastern Chinese city of Nanjing is testing that country's zero-tolerance measures, which are some of the most sweeping and comprehensive in the world
 "Delta variant's spread in Nanjing tests China's Covid containment efforts")
Mark Zuckerberg says Facebook's future lies in virtual 'metaverse'
On Monday, Facebook announced a standalone product group internally tasked with building out this vision
 "Mark Zuckerberg says Facebook's future lies in virtual 'metaverse'")
ArcelorMittal boosts steel outlook as it sees best quarter in 13 years
Steel has surged over the past 12 months, joining a wider commodities boom as producers struggled to meet an unexpectedly strong rebound in demand from the construction and manufacturing industries.
 "ArcelorMittal boosts steel outlook as it sees best quarter in 13 years")
Credit Suisse Q2 profit misses estimates as bank pares risk after scandals
Net income tumbled 78% from a year earlier
 "Credit Suisse Q2 profit misses estimates as bank pares risk after scandals")
Beauty startup Nykaa seeks $4 billion valuation in IPO, says report
Company is aiming to file its draft red herring prospectus within the next few days
 "Beauty startup Nykaa seeks $4 billion valuation in IPO, says report")