LatestlyWhatsApp Forward Message Limit Brought Down to One Chat at Time for Fighting Fake News Amid Coronavirus Pandemic
WhatsApp users now will be able to send frequently forwarded messages to one chat at a time. The company has narrowed the limit that allowed the users to forward messages up to five times.
- Reuters
All for one and one for all? Euro zone will for joint bonds tested
Step-by-step, the coronavirus crisis is forcing the euro zone into greater integration. A long called for joint euro bond is back on the agenda, but German and Dutch resistance to calls for a 'coronabond' from many southern European states and the European Central Bank is again testing the single currency bloc's cohesion. For countries like Italy, such a move would underline the commitment of bloc members to each other in times of need.
- PTI
Netflix introduces improved parental controls
New Delhi, Apr 7 (PTI) Video streaming platform Netflix on Tuesday said it is introducing new parental controls, including a PIN protect feature to prevent kids from accessing specific profiles.
- Reuters
Graphic: Bets on potential mining defaults surge on worsening sector outlook
The cost of insuring against potential debt default by mining companies has risen to the highest in five years on mounting fears of recession, demand destruction and shutdowns to contain the spread of the coronavirus. Commodity group Glencore's five-year credit default swaps (CDS) - which traders use as a hedge against uncertainty - were up at 443 basis points on Tuesday from 190 bps at the end of February, data from information provider IHS Markit showed. Glencore's relatively higher debt has driven the jump in its debt insurance costs, analysts said, while Anglo's climbed on its exposure to South Africa and the struggling diamond sector.
- Reuters
Student lender SoFi to acquire Galileo Financial Technologies for $1.2 billion
Online student lender Social Finance Inc has agreed to acquire payments technology provider Galileo Financial Technologies for $1.2 billion in cash and stock, the companies said on Tuesday. Galileo's platform provides technology to allow companies to easily offer a range of financial services to consumers and businesses, including checking and savings accounts, direct deposits, ACH transfers and bill payments. San Francisco-based SoFi already uses Galileo's technology for its cash management account service SoFi Money, as well as some of its other offerings, the company said.
- PTI
Corporates appeal to unite CSR efforts to protect vulnerable from COVID
Mumbai, Apr 7 (PTI) A section of India Inc on Tuesday appealed all corporate social responsibility initiatives to unite and focus efforts towards protecting the vulnerable sections of the society from the COVID-19 pandemic.
ReutersChinese refiners try out cheap, exotic oil from Europe: sources
Bargain-hunting Chinese buyers have snapped up very cheap and sometimes obscure crude oil grades, mostly from Europe, where the impact of lockdowns to halt the new coronavirus has devastated demand. "If there is a buyer in Europe now, it is China," a Mediterranean oil trader said on condition of anonymity.
ReutersECB makes it easier for banks to tap credit amid coronavirus crisis
The European Central Bank will make it easier for banks to borrow cash at rock bottom rates during the coronavirus crisis, it said on Tuesday, as it eased collateral requirements even at the cost of taking on greater risk. In a series of measures unveiled after an unscheduled Governing Council meeting, the ECB said it would ease collateral requirements, making it easier for banks to use its funding operations, which banks tapped for hundreds of billions of euros in March. "The measures collectively support the provision of bank lending especially by easing the conditions at which credit claims are accepted as collateral," the ECB said in a statement.
- PTI
Business briefs
* WNS to contribute Rs 5 cr to PM CARES Fund Mumbai, Apr 7 (PTI) Business process management company WNS on Tuesday committed Rs 5 crore to fight the COVID-19 pandemic in India.
ReutersGoldman Sachs must face class action over conflicts of interest, risky mortgages
Goldman Sachs Group Inc must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis. In a 2-1 decision on Tuesday, the 2nd U.S. Circuit Court of Appeals said Goldman failed to overcome a presumption that shareholders relied on its alleged misstatements, including that client interests "always come first" and "integrity and honesty are at the heart of our business," when buying the bank's stock. The Manhattan-based court also rejected Goldman's argument that allowing class actions based on "general" statements about companies' businesses would turn securities fraud claims into "a form of investor insurance," exposing companies to a flood of baseless litigation.
News18Ola, Uber to Carry Non-Coronavirus Patients in Bengaluru Due to Shortage of Ambulances
The charges for this service will be at a minimum, without any extra service charge or additional charges. The service will continue until April 15.
- PTI
Debt-laden DHFL not to make any payment to lenders, bond
New Delhi, Apr 7 (PTI) Dewan Housing Finance Corporation (DHFL) on Tuesday said it will not make any interest or principal payment to lenders as well as bond holders as the company is under resolution process.
- PTI
UBS Principal Capital Asia buys IndusInd Bank shares worth Rs 197 cr
New Delhi, Apr 7 (PTI) UBS Principal Capital Asia Ltd on Tuesday picked up shares worth over Rs 197 crore in IndusInd Bank Ltd through an open market transaction.
ReutersAT&T takes on $5.5 billion loan to boost 'financial flexibility'
AT&T Inc. on Tuesday announced a $5.5 billion term-loan agreement, which it said would give the company "financial flexibility" during the coronavirus outbreak. AT&T has been targeted by shareholder activists over its large debt load, accumulated over a buying spree that transformed it into a media and telecoms conglomerate. It said on its investor page that the new loan agreement, with five banks, would "provide additional financial flexibility to an already strong cash position."
- PTI
Vodafone Idea users face connectivity issues; telco says issue resolved
New Delhi, Apr 7 (PTI) Many Vodafone Idea Ltd (VIL) subscribers on Tuesday reported issues related to network connectivity, which the company claimed was resolved shortly.
ReutersGlobal Markets: Hopes of progress against virus lift stocks, weigh on dollar
World stock markets posted sharp gains on Tuesday as signs of progress in curbing the spread of the novel coronavirus in both Europe and the United States fueled investors' appetite for risk. Oil prices climbed on hopes of a deal to decrease supply, while the euro jumped against the greenback after six sessions of declines. Japan's Nikkei posted a 2% gain overnight as its government promised a near $1 trillion stimulus package - equal to a fifth of its gross domestic product.
- PTI
Wipro to announce Q4 and FY20 results on Apr 15
New Delhi, Apr 7 (PTI) IT major Wipro on Tuesday said it will announce its fourth-quarter and FY20 results on April 15.
ReutersSide effects: Fuel demand crash shuts U.S. ethanol plants, meatpackers lack refrigerant
A slew of U.S. ethanol plants have shut down as fuel demand has collapsed during the coronavirus outbreak, and meatpackers have been hit by a worrying side-effect: less carbon dioxide is now available to chill beef, poultry and pork. "We're headed for a train wreck in terms of the CO2 market," said Geoff Cooper, president of the Renewable Fuels Association industry group. The RFA said 29 of the 45 U.S. ethanol plants that sell carbon dioxide, or CO2, have idled or cut rates.
News18Amid Flight Cancellations Due to COVID-19, Delhi IGI Airport Records Highest Social Media Traffic
The IGI topped the global list with over 3.5 lakh social media engagements in the second half of March 2020.
- PTI
SIDBI offers emergency credit facility of up to Rs 1 cr to SMEs
Mumbai, Apr 7 (PTI) The Small Industries Development Bank of India (SIDBI)Â on Tuesday said it will provide emergency working capital of up to Rs 1 crore to small and medium enterprises against their confirmed government orders.
- PTI
CCI approves Hitachi's stake-buy in ABB's power grid arm
New Delhi, Apr 7 (PTI) Competition Commission of India (CCI) on Tuesday said it has approved acquisition of 80.1 per cent stake in ABB Management Holding AG by Hitachi Ltd.
- PTI
Wipro to announce Q4, FY20 results on Apr 15
New Delhi, Apr 7 (PTI) IT major Wipro on Tuesday said it will announce its fourth-quarter and FY20 results on April 15.
- PTI
JM Financial commits Rs 30 cr to fight Covid
Mumbai, Apr 7 (PTI) JM Financial Group has committed Rs 30 crore towards Covdi-19 relief measures under which it will give Rs 15 crore to the PM's relief fund and an equal amount will be contributed to work towards support for healthcare assistance to counter the pandemic.
- PTI
CCI approves acquisition of GMR Kamalanga Energy by JSW Energy
New Delhi, Apr 7 (PTI) Fair trade regulator CCI on Tuesday said it has approved acquisition of GMR Kamalanga Energy Ltd by JSW Energy.
News18Incredible Photos Show Airplanes Grounded at Airports Around The World
Spectacular photos show parked airplanes sitting on runways at the airports around the World as coronavirus pandemic puts a near stop to the global airline business.