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Reserve Bank of India (RBI) had private shareholders, as it had before 1949, they would have been a happy lot on Wednesday evening. The old lady of Mint Street will deliver its bounty from the financial markets — by far the most generous payout it has ever made — to New Delhi. At a time when some of the central banks in the advanced world have reported losses and negative equity, RBI will hand over a dividend cheque of more than ₹2.1 lakh crore to its sole owner, the government. However, the optics of the event — a monetary authority headed by a former bureaucrat making a huge transfer to a macho government towards the end of a long, noisy general election — masks a more prosaic truth. The payout number is a function of local and offshore currency and money markets, coupled with RBI's active intervention in the foreign exchange market. FY24 WAS DIFFERENT

Tesla Inc got off to a sluggish start to the second quarter in Europe, where Chief Executive Officer Elon Musk was expecting a much better showing than the first few months of the year. The carmaker registered just 13,951 vehicles in April, the European Automobile Manufacturers' Association said Wednesday, down 2.3% from a year ago and its worst tally since January 2023. Tesla's result was an exception in an otherwise encouraging month for battery-electric vehicle sales, which rose 14% industrywide.

Check out the companies making headlines in midday trading:

PlayStation users, half of whom are still using the PlayStation 4, a console that cannot support GTA 6.This data indicates that approximately 50 percent of PlayStation gamers will be unable to play GTA 6 upon its release unless they upgrade to a compatible console. Although not all PlayStation gamers may be interested in GTA 6, those who are will need to transition to a PlayStation 5 or the anticipated PS5 Pro, which is rumored to offer enhanced performance capabilities.While the PS5 Pro has not been officially announced by Sony, leaks suggest it could offer a superior gaming experience for titles like GTA 6.

Financial Times (FT) investigative report that found the ports-to-power conglomerate's involvement in an alleged coal scam.Also Read: ‘Will investigate…’, Rahul Gandhi on report on Adani's suspected fraud in alleged coal scamTaking to microblogging platform ‘X’, Singh said, "A major investigative report, on why #GreatBritain had to colonize India in 1757 AD, by FT, BBC et al. Finding of Investigative Report: To stop formation of Adani Group.

Use of diabetes and obesity medications such as Ozempic, Wegovy and other so-called GLP-1 drugs has soared among teens and young adults

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now...

rapper Rylo Huncho and the tragic video, where he accidentally shoots himself in the head surfaced online. Rapper Rylo Huncho, whose original name is Raleigh Freeman III, was found dead at his Virginia apartment on May 16. Although the police have not explicitly named Huncho in the statement, but have mentioned that a 17-year-old had died from an accidental, self-inflicted wound to the head, according to 'The Mirror' report.

Equitable has strengthened its wealth advisory presence in California with a pair of former Lincoln advisors, including a four-decade veteran of the industry.

CNN quoting Saudi news agency SPA.Following tests, King Salman, 88, was found to have inflammation for which he is currently receiving antibiotic treatment in Jeddah.“Deeply concerned about the reports of the health of His Majesty @KingSalman bin Abdulaziz of the Kingdom of Saudi Arabia.

Amazon.com will introduce a more conversational artificial intelligence-powered version of its Alexa voice assistant later this year and plans to charge a monthly subscription fee to offset technology costs, CNBC reported on Wednesday. While the e-commerce giant is yet to nail down the price of the new services, a subscription to Alexa will not be included in its popular $139 annual Prime offering, the report said, citing people with knowledge of the company's plans.

British Prime Minister Rishi Sunak was due to address the nation on Wednesday amid mounting expectations that he will call a summer general election. Sunak's office confirmed that he would issue a statement statement after positive economic figures set Britain's political rumor mill alight with speculation that an election might be imminent. Multiple British media outlets said he would name a July 4 date for the election.

dollar rose against the euro on Wednesday as investors awaited Federal Reserve meeting minutes for insight into the central bank's interest rate path, while the pound strengthened on data showing UK inflation fell in April. Investors have been shoring up U.S. rate cut bets after a milder inflation reading last week, even as Fed officials have continued to sound a cautious note.

Top news of the day: On 22 May, a series of events are set to take place right from politics to business. A bomb threat was received by the Union Home Ministry’s office at Delhi’s North Block. China's top internet authority has introduced a language model rooted in President Xi Jinping's political philosophy.

Nykaa Q4 Results: FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Wednesday reporting a massive four-fold jump in the quarterly net profit attributable to shareholders on customer retention over heavy discounts. The net profit zoomed to 187 per cent to ₹6.9 crore in the fourth quarter of FY24, compared to ₹2.4 crore in the year-ago period.The Falguni Nayar-led company's revenue from operations in the March quarter rose 28 per cent to ₹1,668 crore, compared to ₹1,302 crore reported in the corresponding period last year.

Generations—The History of America’s Future, 1584 to 2069. Social analyst and demographer Mark McCrindle came up with the term Generation Alpha, after the first letter in the Greek alphabet, to indicate they were all born in the 21st century, from 2010 to 2024.) There has been a shift from “collectivism to individualism as society is going through major changes," said Kavil Ramachandran, senior advisor at the Thomas Schmidheiny Centre for Family Enterprise in the Indian School of Business (ISB), Hyderabad. “As an economy develops, business is no longer about survival and children have been insulated from their parents’ struggles.

Also Read: Porsche Pune accident: How come bail was granted within 15 hours even after killing 2? Cop explains reasonsOn May 19, the Porsche car, allegedly driven by the juvenile, knocked down two motorbike riders in Pune's Kalyani Nagar, leading to their deaths. The police have alleged that the juvenile was drunk at the time of accident.Two IT professionals died in the accident.

Paytm founder and CEO Vijay Shekhar Sharma told shareholders in a post-earnings call on Wednesday that the worst is behind the company after One97 Communications, its parent firm, reported lower quarterly revenue and a bigger loss on Wednesday."We learned a lot of our lessons to become better and resilient. We also resolved to be fully compliant according to the regulators expectations in letter and spirit," Sharma said in the earnings call.

financial savings to 6% of GDP in FY24 from 5.1% in the previous year, Goldman Sachs said in a report on Wednesday. “This (increase in net financial savings) is mainly driven by our estimate of higher gross financial savings of 12.5% of GDP (vs 11.0% of GDP in FY 2023) owing to our estimate of higher bank deposit growth,” it said. The global investment bank’s research unit noted that gross financial savings are expected to outpace the increase in household financial liabilities in FY24.

mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association of Realtors reported Wednesday. Sales dropped across the country — down 4% in the Northeast, 2.6% in the West, 1.6% in the South and 1% in the Midwest.

documentary is all set to be released on Netflix after the OTT streaming giant has won bidding war for "Diddy Do It". Hip-hop star 50 Cent is producing Sean 'Diddy' Combs' documentary «Diddy Do It», as per a report on WhatsOnNetflix. So far, production has commenced but makers are yet to announce a confirmed release date for «Diddy Do It» documentary. However, the documentary, once it is out, will delve into allegations and charges against Diddy, as per the WhatsOnNetflix report.