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Top 12 finance stories of the day, July 30, 2020

·4-min read

Major financial updates today at a glance:

India found cyber security lapses at National Payments Corp in 2019: govt document

A government audit of India's flagship payments processor last year found more than 40 security vulnerabilities including several it called "critical" and "high" risk, according to an internal government document seen by Reuters. Read more

Apple, Amazon, Facebook, Google face claims of 'harmful' power

The heads of some of the world's biggest tech companies have appeared before Washington lawmakers to defend their firms against claims they abuse their power to quash competitors. Read more

Here's what the Indian workforce is thinking

While hiring, it is essential for hiring managers to get a deeper understanding of the mindset of the workforce to make appropriate appointments and deciding pay scales. Here are some useful insights into what job seekers are inclined towards and how this plays a role in landing a job, according to the Michael Page Salary Benchmark. Read more

Diesel price to get cheaper in Delhi by Rs. 8 after govt decides to reduce vat

Diesel prices which became costlier than petrol in June after the daily price revision has been reinstated will now become cheaper in the national capital. Read more

Bharti Airtel records net loss of Rs 15,933 cr in June quarter

Total revenues increased by 15.4% year-on-year (YoY) to Rs 23,939 crore during the quarter. EBITDA jumped 25.3% to Rs 10,639 crore in Q1 FY21 from Rs 8,493 crore in Q1 FY20. EBITDA margin stood at 44.4% as on 30 June 2020 as against 41% as on 30 June 2019. Read more

Gold at record highs. Here are a few ways of investing in the yellow metal

As an investment option, gold has enjoyed prized status among Indian investors. Besides the traditional and emotional bonding, the yellow metal’s track record in safeguarding wealth during financial uncertainties and inflation has been striking. The global economy is currently witnessing one of its biggest challenges ever with volatile stock markets as a result of the Covid-19 pandemic. But gold is the only asset class gaining handsomely in the ongoing turmoil. It has risen nearly 60% since the start of 2018, touching Rs.50,000 per 10 grams recently, and experts predict that continuing uncertainties over Covid-19 will keep driving the demand for gold, thus pushing up its price further. Read more

From Bezos eating a snack, room ratings and 'the net': moments that highlighted big tech hearing

Two years after Facebook Inc Chief Executive Mark Zuckerberg’s explanation to U.S. lawmakers - “Senator, we run ads” - exploded as a meme, online viewers again ridiculed moments of a tech antitrust showdown on Wednesday. The chief executives of the country's largest tech companies - including Zuckerberg, Amazon Inc's Jeff Bezos, Sundar Pichai of Alphabet Inc's Google and Apple Inc's Tim Cook - gave virtual testimony here before the U.S. House Judiciary Committee's antitrust panel. Read more

Zuckerberg saw WhatsApp & Instagram as threat to Facebook, internal emails show

Facebook Inc Chief Executive Mark Zuckerberg stumbled at a congressional hearing on alleged abuse of market power on Wednesday, as lawmakers confronted the social media titan with damaging internal emails about the company’s acquisitions. The House Judiciary Committee’s antitrust panel appeared to draw on a rich trove of Facebook company emails, releasing numerous screenshots of correspondence from Zuckerberg and other Facebook executives. Read more

Is Paytm a Chinese app? Know about founder, country, and company details

Indian government authorities recently banned various Chinese apps. Following the move, a lot of queries regarding the origin of particular apps are popping up on the internet. The list includes popular apps like PUBG, Paytm, and more. Often, we're unaware of the origin and the developers of an app. This aims to clear any doubts about the Paytm app. Read more

Apple begins assembling iPhone 11 in India

Apple’s contract manufacturing partner Foxconn has started to assemble the current generation of iPhone units -- the iPhone 11 lineup -- in its plant near Chennai, India, a source familiar with the matter told TechCrunch. Read more

This Indore-based edtech platform is using DIY kits to spruce up preschool learning

When Vijeet Pandey returned to India in early-2016 after stints in retail businesses in the UK, he wanted to become an entrepreneur. Read more

Starting up from a Messy Corner, these siblings built a Rs 6 Cr personalised gifting startup

What’s in a name? Plenty, especially for startups into customised gifting options. The Messy Corner (TMC) was founded in 2015 by siblings Aayush and Aanchal Poddar, who love travelling and would often get personalised gifts for each other. The lack of Indian companies offering personalised gifts and accessories that are stylish, good quality, and affordable led them to start TMC. Read more