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Top 20 finance news of the day, July 14, 2020

·6-min read

Here’s a quick roundup of the top finance news today:

Sensex plunges 660 points on spike in coronavirus cases

The Sensex and the Nifty plunged in trade today, as rising Covid-19 cases, came back to haunt the markets. On Monday, World Health Organization Director-General Tedros Adhanom Ghebreyesus warned that "too many countries are headed in the wrong direction." Read more

Rupee skids 23 paise to close at 75.42 against US dollar

The Indian rupee tumbled 23 paise to settle at 75.42 (provisional) against the US dollar on Tuesday as risk appetite remained weak amid heavy selling in domestic equities and strengthening American currency. Read more

Verizon partners with Airtel to launch BlueJeans in India

Bharti Airtel announced on Tuesday it has partnered with Verizon* to launch BlueJeans video-conferencing service in India to serve business customers in the world’s second largest internet market. Read more

Mukesh Ambani leapfrogs Google founders to become sixth richest person in the world

Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani is now richer than Alphabet (Google's parent) co-founders Sergey Brin and Larry Page in terms of net worth, becoming the world's sixth-richest person. Read more

Google in talks to invest $4 billion in Reliance's digital arm

Alphabet Inc's Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd, Bloomberg reported on Tuesday, citing people familiar with the matter. Read more

Flipkart raises $1.2 billion from Walmart-led investor group; valued at $24.9 billion

E-commerce giant Flipkart Group on Tuesday said it has closed a $1.2 billion funding led by Walmart, its majority stake owner. In 2018, Walmart Inc invested $16 billion for acquiring 77 per cent stake in the group. Read more

Crisis should not be allowed to overwhelm India: Nirmala Sitharaman on COVID-19

Finance Minister Nirmala Sitharaman on Tuesday asserted that India should not wait for a crisis for economic reforms, as she laid out the government’s policies in the midst of the Covid-19 pandemic. Read more

2020 Hyundai Tucson facelift launched in India, prices start from Rs 22.3 lakh

Hyundai Motor India has launched the 2020 Hyundai Tucson facelift. Prices for the SUV start from Rs 22.3 lakh, ex-showroom India, this is for the base petrol version. The Tucson also comes with a range of warranty options to suit most driving requirements. Read more

China takes No.1 spot in this list too: Nations that produce maximum gold, 2020

Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most? Read more

Indian-owned 1933 Minerva Type AL wins first place at global Concours Virtual 2020

A 1933 Minerva Type AL, owned by Delhi-based collector Diljeet Titus, has been awarded the first place in the people's vote from the Art Deco category at the first-ever Virtual Concours. The Concours d'Elegance was organized by Hagerty and saw over 180 participants from the world over. The winners were judged by a panel of 44 experts. Read more

Fitch ratings believe near-term recovery not probable for NBFCs

The rating agency Fitch in its latest report said that a near-term recovery for India's non-banking financial institutions is not probable, as the sector continues to wrestle with the fallout of Coronavirus pandemic. Read more

As Bengaluru heads for week-long lockdown, K’taka Federation says step ‘Suicidal’ for Industries

Starting Tuesday night, IT city Bengaluru will head for another lockdown for a week. The city that has seen a steady and unabated rise in Covid-19 cases the last four weeks and will be locking down all activities except supply and movement of essential supplies like fruits vegetables and milk, meat and medicines. The decision has not gone down well with the city's industrial sector though, which was just about reviving operations but will have to shut shop for a week once again. Read more

Realme Smartphone with 6000mAh battery teased by executive

Realme is one of the fastest-growing smartphone brands across the world. Recently, the company unveiled the Realme X50 Pro Player Edition, a flagship smartphone in its home market China. Now, it looks like the company is prepping a new smartphone with a beefy battery within it. This information has been confirmed by the company's Indonesian Marketing Director. Read more

Mini Cooper made to wear mask in Chennai to promote used car sales revent amid COVID-19

The global coronavirus pandemic has changed the way in which the world functions. People are advised to maintain social distancing and wear a mask at all times when they are out in order to avoid the contraction of the COVID-19 disease. Read more

China reports unexpected increase in exports, mports for June

On Tuesday, China's customs data showed an unexpected 0.5 percent increase in exports for June, when compared to the same month a year ago. Its imports in June rose 2.7 percent year-on-year. The country said that these were dollar-denominated exports and imports. Read more

Google, Facebook, Microsoft, other tech companies join lawsuit against new student visa rule

More than a dozen top American technology companies, including Google, Facebook and Microsoft, on Monday joined a lawsuit filed by the Harvard University and the Massachusetts Institute of Technology against the Immigration and Customs Enforcement's (ICE) latest rule that bars international students from staying in the United States unless they attend at least one in-person course. Read more

Gold Vs Equity Mutual Funds: Why gold has been a better investment?

Until a few years back, gold was considered by many as a dead investment. The equity culture had taken shape, including investment in mutual funds. However, if you study the trend of returns between gold and large cap equity mutual funds, over 1, 3 and 5 years, you realize that gold has been a much better investment. Read more

Silver prices have zoomed to record highs of over Rs. 53000/kg: Here's why

Silver which until few weeks back was the second best performing metal amid the Covid 19 outbreak has now even surpassed gold in performance. On the MCX, silver for September contract jumped a huge 3.28% to close at Rs. 53048 per kg. Read more

Yes Bank launches 'Loan In Seconds'

The country's private sector lender Yes Bank has now introduced 'Loan in Seconds', a facility for instant disbursal for the bank's pre-approved liability customers. "This solution will help in availing instant financing without the need to visit a branch in person, fill an exhaustive form, or submit any documentation," the bank said in a statement. Read more

UK to purge Huawei from 5G by 2027, angering China and pleasing U.S

LONDON (Reuters) - Prime Minister Boris Johnson ordered Huawei equipment to be purged completely from Britain's 5G network by 2027, risking the ire of China by signalling that the world's biggest telecoms equipment maker is no longer welcome in the West. Read more

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