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Top 12 finance news of the day, July 13, 2020

·4-min read

Top financial highlights of the day:

India's retail inflation for June picks up to 6.09% after increase in prices of food items

India's annual retail inflation rose to 6.09% in June compared with 5.84% in March, pushed by a bigger increase in prices of some food items, government data showed on Monday. Read more

Wipro has no plan to lay off employees due to pandemic: Rishad Premji

Bengaluru, Jul 13 (PTI) Wipro Chairman Rishad Premji on Monday said the company has not laid off any employee due to the COVID-19 impact and has no plans to do so for now. Read more

Gold Price hovers near record highs; silver above Rs. 52000/Gm

Gold price in the domestic market continued their upward move and traded higher by 0.38% at Rs. 49048 per 10 gm. In the previous day's trade, gold hit a high of Rs. 49,230 per 10 gm. Read more

RIL hits record high; becomes Rs. 12-trillion M-cap company

After whopping gains of over 100% since March lows, RIL stock in Monday's (July 13, 2020) opening trade jumped to a new high of Rs. 1917 per share. The stock ever since its rights issue and back to back investment into its digital arm Jio Platforms has been on a high.And in the process the company has now become the first Indian company to hit market cap of Rs. 12 trillion. Read more

Top 4 ways to handle corporate abuse

As we continue to grow up, we gain a lot of responsibilities, and as adults, we need to fulfill our basic needs too. To fulfill those needs, all we need to do is to find a perfect job and have money.
But as we enter the corporate world, the main thing that terrifies everyone about it is corporate abuse. Read more

Fully autonomous self-driving cars may take years to come, experts say difficulties ahead

The road to fully self-driving vehicles remains riddled with obstacles, with years of refinements likely needed, despite Tesla founder Elon Musk’s claim to be able to produce one this year. Musk’s suggestion that Tesla is nearing "Level 5" autonomy appeared to stun the sector, which has repeatedly pushed back forecasts for vehicles able to operate without human help. Read more

Google announces $10 billion for digitalising India

On Monday, Google and Alphabet CEO Sundar Pichai announced $10 billion investment at the Google for India event. "Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India's digital economy. We're proud to support PM @narendramodi's vision for Digital India - many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us," Pichai said in a tweet. Read more

LinkedIn faces lawsuit over claims it 'secretly' read iPhone clipboard data

The clipboard detection in iOS 14 isn’t just prompting developers to rethink app privacy — it’s also putting these companies in legal trouble. Reuters reports that iPhone user Adam Bauer has sued LinkedIn over claims the job-focused social network “secretly” read iOS clipboard data often, including the Universal Clipboard that shares copied content with nearby devices. The Microsoft-owned firm was spying on users, according to the lawsuit, and allegedly violated California law in the process. Read more

VR time machine helps an inventor relive his past

Life is made of fleeting moments that you may easily forget, but one inventor might have found a way to remember it... much of it, anyway. As PetaPixel reports, Lucas Rizzotto recently developed a virtual reality “time machine” that lets him revisit any moment recorded using camera-equipped Snap Spectacles. He just needs to dial in a Back to the Future-style “destination time” to see what he was doing at a given moment from his perspective, complete with flashy effects. Read more

IT industry to see more lay offs as COVID-19 pushes challenges for the sector

Amid the ongoing pandemic crisis, when there is dearth of projects, IT industry across the globe is on a downsizing spree. This is there on account of excessive workforce. Read more

Mark Zuckerberg, Jeff Bezos, Bill Gates really 'self-made'? This viral Twitter thread debunks myths

In 2018, Forbes listed Kylie Jenner, of Kylie cosmetics and reality TV fame, as one of the richest 'self-made' people in America.However, the (then) 21-year-old's nomination stirred up a controversy about what the tag 'self-made' really meant. Many felt that considering she is part of the Kardashian clan and has appeared on her step sisters' unnecessarily famous TV show from age 13, the cosmetics moghul is barely on her own and that Kim Kardashian's star-power was enough to propel young Kylie forward, not to mention her family wealth. Read more

MG Hector Plus six-seater SUV to launch today - Watch it live here

MG is all set to launch the six-seater version of the Hector - the Hector Plus in India today. The car will be placed above the Hector in terms of pricing and will have an additional row of seats at the back.

Latest stories

  • Dollar bears emerge from hibernation as post-COVID normality beckons

    This bearish take on the dollar was the near unanimous verdict of investors attending the annual Reuters Investment Outlook summit this week, who predicted that non-U.S. assets, from commodities to emerging markets to European stocks will perform well while U.S. interest rates remain stapled to the floor. "The markets are right, I think the dollar will cheapen from here," Rick Rieder, BlackRock's chief investment officer for fixed income, told the Reuters summit. He said, however, there would always be an "organic bid" for dollars as the world's premier reserve currency, but that should not prevent it weakening at least moderately while the euro and emerging market currencies strengthen, he said.

  • Meet the 25-year-old newly minted billionaire betting on lasers to power autonomous driving

    Austin Russell's Luminar Technologies is now public thanks to a SPAC deal. It uses laser technology to power autonomous vehicles.

  • Cyclone Burevi: Kerala CM holds high-level meeting with representatives of armed forces, NDRF, others

    Thiruvananthapuram (Kerala) [India], December 4 (ANI): In the wake of a high alert issued for Cyclone Burevi, a high-level meeting was held with representatives of armed forces, Coast Guard, National Disaster Response Force (NDRF), various department heads, DGP and Chief Secretary, said Kerala Chief Minister Pinarayi Vijayan on Thursday.

  • Not just farmers, whoever commits suicide is coward, clarifies K'taka Min

    Kodagu (Karnataka) [India], December 4 (ANI): I had said that whoever commits suicide is a coward, never said farmers are cowards, they are the nation's backbone, clarified Karnataka Agriculture Minister, BC Patil on Thursday.

  • Trump news - live: DOJ sues Facebook as Ivanka hits out at ‘vindictive’ probe of her hotel work

    Follow the latest updates

  • Tottenham trio Lo Celso, Ndombele and Hojbjerg not worth the wait as Hart becomes a liability against LASK

    Tottenham booked their place in the Europa League knockouts via a wild 3-3 draw with LASK in a performance that did little to support Jose Mourinho's claims that they are among the favourites to win the competition. Spurs will now host Royal Antwerp next week in their final group match, needing a win to secure top spot and avoid the Champions League dropouts in the last-32 stage. Jose Mourinho must hope his side are more cohesive and defensively sound against the Belgians following an abject display in freezing conditions in Austria.

  • Coronavirus claims 1.5 million lives globally with 10,000 dying each day

    Nearly 65 million people globally have been infected by the disease and the worst affected country, United States, is currently battling a third wave of coronavirus infections. The novel coronavirus caused more deaths in the past year than tuberculosis in 2019 and nearly four times the number of deaths due to malaria, according to the World Health Organisation. Robert Redfield, the head of the U.S. Centers for Disease Control and Prevention, warned on Wednesday that the pandemic will pose the country's grimmest health crisis yet over the next few months, before vaccines become widely available.

  • Newtek CEO, Barry Sloane, to Host Webinar to Discuss Navigating the Ever-Changing Cloud-Computing Technology Landscape

    BOCA RATON, Fla., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek’s CEO, Barry Sloane, and the experts from Newtek’s technology portfolio company, Newtek Technology Solutions, will host a webinar to discuss the importance of navigating the new cloud-computing technology landscape in today’s ever-changing operating environment. The webinar will take place on Tuesday, December 8, 2020 at 3PM EST, and will discuss how small- and medium-sized businesses can manage their IT in a secure private cloud, as well as what businesses can do to be at the forefront of innovative technology processes. Specific topics will include, ecommerce solutions, managed IT services to protect against security threats, and the advantages of private cloud hosting for scaling and managing an organization. Please register through the following link Newtek Technology Solutions Webinar and learn how Newtek Technology Solutions can help your business stand out, with the right technology solutions to keep an organization secure and profitable.If you have any questions, please contact Newtek Technology Solutions at 1-877-323-4678 or email info@NewtekOne.com.Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing,  Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing,  Insurance Solutions, Web Services, and Payroll and Benefits Solutions. Newtek® and Your Business Solutions Company®, are registered trademarks of Newtek Business Services Corp. Note Regarding Forward Looking StatementsThis press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov/.   Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.SOURCE: Newtek Business Services Corp.Investor Relations & Public Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / jcavuoto@newtekone.com

  • Judges skeptical of bid by alleged Epstein victims to void non-prosecution deal

    U.S. appeals court judges appeared skeptical on Thursday of voiding a 2007 deal that shielded Jeffrey Epstein from child sex charges that one of his alleged victims says prevents her from talking to prosecutors about possible co-conspirators. The agreement shields unidentified alleged accomplices and nullifying it could impact the criminal case in New York against Ghislaine Maxwell, who stands accused of luring girls so Epstein could abuse them. Maxwell has pleaded not guilty.

  • Obama, Bush and Clinton pledge to film themselves getting Covid vaccine

    The three former presidents of the US want to promote confidence in Covid vaccine safety.

  • Alexis Sharkey: Friends say influencer was ‘worried for her safety’ before her death

    26-year-old was found dead Saturday after going missing Friday evening

  • Bengals' Burrow Has Knee Surgery, Complete Recovery Expected

    Cincinnati Bengals rookie quarterback Joe Burrow had knee surgery and is expected to make a full recovery, the team said Thursday.

  • Global Solar PV Backsheet Market to Grow at 15% CAGR and Register $2 Billion Incremental Growth During 2020-2024 | Technavio

    The Solar PV Backsheet Market will grow by USD 2.06 bn during 2020-2024

  • Gaia 'discovery machine' updates star catalogue

    The world's most productive astronomical facility releases its third big tranche of sky data.

  • Trump administration sues Facebook for discriminating against American workers

    The Department of Justice has accused Facebook of discriminating against US workers by giving hiring preferences to foreigners on temporary work visas. In a lawsuit filed on Thursday, the Justice department alleges the social media giant refused to recruit, consider or hire qualified and available Americans for more than 2,600 positions. The lawsuit was announced in a press release that alleged a two-year investigation found Facebook intentionally created a hiring system that set aside positions for temporary visa holders that the company wanted to sponsor for green cards instead of considering Americans.

  • Lacework Helps to Support the Launch of Professional Services in AWS Marketplace

    Lacework, a security platform for the cloud generation, is participating in the launch of Professional Services in AWS Marketplace.

  • Iraq unrest fuels spike in domestic violence cases

    Thousands of domestic abuse cases registered in Iraqi courts in past year

  • The TJX Companies, Inc. Announces the Pricing Terms of Its Cash Tender Offers for Certain Debt Securities

    The TJX Companies, Inc. (NYSE: TJX) ("TJX" or the "Company") today announced the pricing terms of its previously announced cash tender offers (collectively, the "Offers") for $1,118,651,000 combined aggregate principal amount (the "Amended Maximum Tender Amount") of the debt securities listed in the table below (collectively, the "Securities") validly tendered and not validly withdrawn on or before the Early Tender Deadline (as defined below) from each registered holder of Securities (individually, a "Holder," and collectively, the "Holders"). Subject to the Amended Maximum Tender Amount, the Offers and order of priority (the "Acceptance Priority Levels" as set forth in the table below under "Acceptance Priority Level") are as described in the Offer to Purchase dated November 18, 2020, as amended or supplemented (the "Offer to Purchase"). In connection with the settlement of the Offers, the Company expects to record a one-time pre-tax loss on early extinguishment of debt of approximately $315 million in the fourth quarter of fiscal 2021.

  • Warner Bros to release all movies in 2021 on HBO Max at same time as theaters

    WarnerMedia will keep the films on the streaming service for one month before pulling them off for a period of time

  • 9 Small Space Essentials You Can Buy on Amazon for Under $50

    Including storage baskets, floating shelves, and garment racks.