2020 Financial News

Also Read: Earnings preview: Indian IT firms to report soft numbers in Q2FY24; revenue, profit likely to be muted As far as TCS is concerned, the IT major is expected to deliver 0.5% revenue growth in constant currency terms and 0.3% USD growth, on a sequential basis. The brokerage expects TCS to report total revenue of ₹59,904.6 crore in Q2FY24 as compared to ₹59,381 crore in the June quarter. In USD terms, the company is likely to post revenue of $7,246 million as against $7,226 million, QoQ.

Finland and Estonia say the undersea Balticconnector gas pipeline running between the two countries across the Baltic Sea has been temporarily taken out of service due to a suspected leak

Ariana Grande and Dalton Gomez have successfully finalized their divorce. The former spouses reached a divorce settlement on October 6, with Ariana reportedly agreeing to make a one-time payment of $1.25 million to Dalton instead of providing monthly spousal support. In accordance with court documents obtained by E! News, the 30-year-old artist initially requested spousal support and the allocation of property, as stipulated in the prenuptial agreement between her and Dalton.

lower middle income countries (LMICs), and cost up to $2 trillion per year, a new report published in the Lancet has warned. According to the new analysis, stroke deaths will increase from 6.6 million in 2020 to 9.7 million in 2050.

Mint explains the hybrid approach: MCA’s new AI-powered compliance system will be rolled out on its MCA21 portal once an ongoing upgrade and migration of forms to high-security ones is completed in a couple of months, Mint reported, citing an unnamed official. However, while the system will draw up a list of errant companies, only an authorized official will take a decision in this regard. The idea is to adopt a “human-centric" approach to AI, and give the non-compliant companies time to respond before serving a notice.

Rio Tinto has warned it will need to ship more low-grade iron ore over the next few years as it grapples with bringing its next generation of Pilbara mines in Western Australia into production.

By Giuseppe Fonte and Gavin Jones

Bharti Airtel and Vodafone Idea on Monday requested the Supreme Court to hear in the “open court” their curative petitions against an earlier order, which rejected pleas for rectification of what they called arithmetical errors in the telecom department’s calculation of adjusted gross revenue (AGR) dues. Senior counsel Harish Salve, appearing for Vodafone Idea, told a bench led by Chief Justice of India DY Chandrachud that its curative petition should be heard soon. Salve was joined by senior counsel KK Venugopal, who appeared for Airtel, in seeking open court hearing on the curative petitions, saying that the «prejudice is so huge that there is a need for open court hearing”. The CJI said the court would decide on open court hearing after consulting the other judges who would be part of the bench.

₹100 crore of the ₹397 crore it owes him. According to the high court's 24 August order, the airline was instructed to pay ₹100 crore to Maran by 10 September. In the arbitration award execution case, Maran had claimed SpiceJet forfeited its right to be heard in court by wilfully disobeying orders.

Congress leader Kamal Nath on Monday said people will teach a lesson to the «abductors of democracy» in Madhya Pradesh assembly polls next month. A single-phase polling will be held in the state on November 17 and votes will be counted on December 3.

As per Nissan, conductive shavings from the drive motor's slip ring have the potential to short-circuit the two slip rings in impacted vehicles. Due to the short circuit, the inverter senses an overcurrent and reduces motor torque in accordance with fail-safe protocols. When this occurs, the vehicle may abruptly shut down, displaying an «EV System Off» notice on the dashboard, reports Electrek.

In India, the festive season is the time of heightened spirits and collective celebration, marked by joyous occasions initiating from Ganesh Chaturthi and culminating with the grandeur of Diwali. It is a period traditionally considered auspicious for embarking on new ventures.

Mayfair 101 founder and self-styled visionary businessman James Mawhinney is facing a threat of bankruptcy over an alleged $3.5 million debt.

PTI, "Samajwadi Party is going to strongly contest the elections in these five states (MP, Rajasthan, Chhattisgarh, Telangana and Mizoram) with the INDIA alliance's approach of removing the BJP from power. I believe that Samajwadi Party will contest in over a dozen seats in Madhya Pradesh."Congress also managed to win 68 seats out of 90 in Chhattisgarh. The party garnered a vote share of 43.9 per cent.

Reliance Industries: Reliance Retail Ventures Ltd (RRVL) on Friday said that sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will invest an additional ₹4,966.80 crore in the retail unit of Reliance Industries Ltd, following a 1.18% stake purchase in the company in October 2020. The fresh investment values RRVL at a pre-money equity value of ₹8.38 trillion, making it among India’s top four most valuable companies. TCS: Tata Consultancy Services Ltd informed the stock exchanges on Friday that its board will consider a proposal for a share repurchase on 11 October, when the company declares its second-quarter earnings.

AirTrunk has been mulling a $10 billion initial public offering, but a valuation hike across the ditch could put that number close to $13 billion or $18 billion on an enterprise value basis.

Boston Celtics guard, has agreed to a four-year contract extension worth $30 million. This fully guaranteed deal is set to commence at the beginning of the 2024-25 NBA season, according to a report from ESPN on Sunday. During the previous season, the 25-year-old Pritchard averaged 5.6 points, 1.8 rebounds, and 1.3 assists across 48 games, with three starts. Throughout his NBA career, spanning 185 games with nine starts, Pritchard has contributed averages of 6.6 points, 2.1 rebounds, and 1.7 assists. He was originally selected by the Boston Celtics as the 26th overall pick in the 2020 NBA Draft, hailing from the University of Oregon. Boston Celtics have a significant plan for Pritchard, positioning him as a crucial sixth man who will serve as the team's backup point guard. Although Pritchard saw limited playing time last season, his three-year career statistics showcase his ability, with averages of 6.6 points and 1.7 assists per game, along with a 40 per cent success rate from beyond the arc (on two attempts per game). Hailing from the University of Oregon, Pritchard has proven to be a reliable asset coming off the bench, and the Celtics are now looking to maximize his contributions in this role.

Marsh McLennan breached its own rules by failing to warn a client of Greensill Capital that it was “patently obvious” there were serious problems at an insurance agency linked to IAG, courts have been told.

Centrum Capital, the financial services business led by Jaspal Bindra, is exploring a possible sale of its stake in its mortgage financing business — Centrum Housing Finance, two people aware of the development told ET. Mumbai-headquartered Centrum group holds a 74% stake in Centrum Housing Finance. Private equity investor Morgan Stanley PE Asia holds around 25%, having invested ₹190 crore in the business in 2020. «Centrum is working on a plan to explore the sale of its stake in its housing finance business,» said one of the persons cited earlier.

NEW DELHI : China’s BYD Auto Co. Ltd’s executives have been unable to secure Indian visas for at least over a year, precluding in-person meetings with representatives of Megha Engineering and Infrastructure Ltd in India for their electric vehicle (EV) project, two people familiar with the developments said. In the absence of Indian visas, meetings between BYD and Megha executives are being held in countries such as Nepal, Sri Lanka and China, the people said on condition of anonymity.

Kansas City Chiefs tight end Travis Kelce has become even more popular recently thanks to his rumored relationship with pop superstar Taylor Swift. After Swift was seen cheering Kelce on at a Chiefs game at Kansas City's Arrowhead Stadium on Sept. 24, sales of Kelce's jersey jumped nearly 400% on sportswear and fan merchandise site Fanatics, according to The Associated Press.