• Tesla overtakes Toyota to become the world’s most valuable car company

    Tesla overtakes Toyota to become the world’s most valuable car company
    Published Date : 01-Jul-2020 11:03:55IST

    Elon Musk-led electric carmaker Tesla on Wednesday displaced Toyota as the world’s most valuable carmaker by market value after the company’s shares climbed over 4%, giving it a market valuation of over $208 billion. Toyota’s market cap is $203.21 billion. Tesla shares have more than doubled since the start of the year and hit a 52-week high of $1,129.18 today.

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  • TikTok app removed from Play Store, App Store after govt ban

    TikTok app removed from Play Store, App Store after govt ban
    Published Date : 30-Jun-2020 3:28:22IST

    Short-video making app TikTok disappeared from Google’s Play Store and Apple’s App Store a few hours after being banned by the Indian government. Users who already downloaded the app are able to use it. “We’ve been invited to meet concerned government stakeholders for an opportunity to respond and submit clarifications,” TikTok India head Nikhil Gandhi said.

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  • Dhoni Is Playing A New Role

    Dhoni Is Playing A New Role
    Published Date : 30-Jun-2020 12:09:27IST

    We have forever been following the activities of cricket superstar MS Dhoni. It seems the former India captain, now taking a break from international cricket, has opened an office in Mumbai to launch an entertainment business. We hear the Andheri office was inaugurated by none other than his missus, Sakshi, just before the lockdown was enforced. Dhoni himself could not attend the opening. It seems he has plans to make some television shows, and apparently one is already in production.

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  • 30-yr-old woman accused of Rs 500cr scam with husband kills him in Hyd

    30-yr-old woman accused of Rs 500cr scam with husband kills him in Hyd
    Published Date : 28-Jun-2020 6:41:35IST

    A 30-year-old woman allegedly involved in ‘₹500-crore money back policy’ scam in Tamil Nadu with her 50-year-old husband has been arrested for killing him in Hyderabad. Police said she had come to stay with her husband but was forced to leave as he was already residing with another woman. Angered with this, she smothered and killed him, the police added.

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  • Zuckerberg loses $7 billion in a day as companies boycott Facebook ads

    Zuckerberg loses $7 billion in a day as companies boycott Facebook ads
    Published Date : 27-Jun-2020 3:11:22IST

    Facebook CEO Mark Zuckerberg became $7.2 billion poorer on Friday after several firms pulled advertising from Facebook and Instagram citing concerns over the spread of hate speech on their platforms. Shares of Facebook fell 8.3%, pushing Zuckerberg’s net worth down to $82.3 billion, according to Bloomberg. Zuckerberg also moved down one notch to fourth place in the Bloomberg Billionaires Index.

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  • Mukesh Ambani earned Rs 95 cr every hour in last two months

    Mukesh Ambani earned Rs 95 cr every hour in last two months
    Published Date : 24-Jun-2020 11:47:46IST

    According to the report, of the four Indian billionaires who are among the world’s top 100, Mukesh Ambani saw a V-shaped recovery in his wealth. While Ambani lost $19 billion in the first two months after the Covid outbreak, he gained $18 billion (nearly Rs 1.37 lakh crore) in the last two months. This means he added Rs 95 crore to his wealth every hour during the last two months. According to the Hurun report, Ambani is now the 8th richest person in the world.

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  • Yatra fires 400 workers, sends 600 more on leave without pay: Report

    Yatra fires 400 workers, sends 600 more on leave without pay: Report
    Published Date : 23-Jun-2020 3:50:40IST

    Travel portal Yatra has fired nearly 400 employees in the wake of the coronavirus pandemic, the Economic Times reported. The Gurugram-based company had reportedly put around 600 employees on leave without pay. This follows the termination of Yatra’s pending merger deal with US-based software company Ebix. Ebix had agreed to buy Yatra at an enterprise value of $337.8 million.

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  • Cipla, Glenmark shares hit 52-week high over launch of COVID-19 drugs

    Cipla, Glenmark shares hit 52-week high over launch of COVID-19 drugs
    Published Date : 22-Jun-2020 3:10:09IST

    Cipla’s shares on Monday surged 9.2% to hit a new 52-week high of ₹696 on BSE. This comes after it was allowed to manufacture and supply antiviral drug remdesivir for treatment of suspected or confirmed cases of COVID-19. Shares of Glenmark Pharmaceuticals also surged 40% to a 52-week high of ₹572.7 after it launched antiviral drug favipiravir for COVID-19 treatment.

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  • Ambani now world’s ninth richest person, only Asian tycoon in top 10

    Ambani now world’s ninth richest person, only Asian tycoon in top 10
    Published Date : 20-Jun-2020 11:35:59IST

    Reliance Industries Chairman Mukesh Ambani has become the ninth richest person globally with a net worth of $64.6 billion and the only Asian tycoon in the club of the world’s top 10 richest, according to Forbes. Ambani added more than $30 billion to his fortune in the past three months as Reliance stock doubled from its March low.

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  • RIL 1st Indian firm to hit Rs 11 lakh cr market value as it becomes net debt-free

    RIL 1st Indian firm to hit Rs 11 lakh cr market value as it becomes net debt-free
    Published Date : 19-Jun-2020 4:34:38IST

    Reliance Industries shares surged as much as 8% on Friday after the company announced it has become net debt-free, taking its market value to over ₹11 lakh crore. It is the first Indian company to achieve the milestone. Reliance raised over ₹1.69 lakh crore over the last few weeks via stake sales in Jio Platforms arm and a rights issue.

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  • iPhone King of Premium Smartphones

    iPhone King of Premium Smartphones
    Published Date : 18-Jun-2020 9:26:56IST

    Apple led global premium smartphone segment with 57% market share in Q1, followed by Samsung and Huawei, according to Counterpoint Research. While growth declined for most brands, Oppo grew 67% (from a low base) driven by Reno 3 and Reno 3 Pro 5G, and Xiaomi also grew 10% from a small base driven by the Mi 10 5G and Mi Note 10 series.

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  • Apple first US company to hit $1.5 trillion market cap

    Apple first US company to hit $1.5 trillion market cap
    Published Date : 11-Jun-2020 11:43:47IST

    Apple has become the first US company that reached $1.5 trillion market cap and according to the investors and analysts, strong App Store sales, ARM chips-run Macs and a 5G iPhone this fall are the reasons for the surge in stock of the Cupertino-based iPhone maker. At a current price of $352 per share and 4.3 billion shares outstanding, Apple’s market cap hit around $1.53 trillion on Wednesday, reports Mac Rumors.

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  • Mukesh Ambani made Anil ‘beg’ for money so he could avoid jail last year

    Mukesh Ambani made Anil ‘beg’ for money so he could avoid jail last year
    Published Date : 04-Jun-2020 1:09:22IST

    Asia’s richest person Mukesh Ambani made his brother Anil Ambani “beg” for his help in clearing ₹460 crore dues to Ericsson last year so he could avoid a jail term, Bloomberg reported. The brothers were engaged in round-the-clock negotiations for weeks, Bloomberg added. In exchange for the money, Anil Ambani reportedly surrendered two 99-year leases on office buildings in Mumbai.

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  • Facebook engineer quits company over inaction on Trump’s post

    Facebook engineer quits company over inaction on Trump’s post
    Published Date : 03-Jun-2020 3:33:24IST

    A Facebook software engineer announced he has resigned from Facebook over no action on US President Donald Trump’s ‘when looting starts, shooting starts’ post. “Facebook is on the wrong side of history…I can’t keep excusing Facebook’s behaviour,” Timothy J Aveni said. Another employee who quit Facebook tweeted, “I’m happy I no longer support policies and values I don’t agree with.”

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  • Infosys crorepati club swells to record 74 members in FY20

    Infosys crorepati club swells to record 74 members in FY20
    Published Date : 03-Jun-2020 11:41:19IST

    Crorepati employees count at IT outsourcer Infosys jumped to 74 in 2019-20 as compared to 64 in the year ago. Most of these crorepatis were at the designation of vice-presidents and senior vice-presidents as per the company’s annual report. The significant jump in the crorepati count was because of the increase in the perquisite value of stock incentives previously granted and exercised during the year. Their remuneration includes fixed pay, variable pay, retiral benefits and stock options exercised during the period.

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