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Top 20 finance news of the day, July 15, 2020

·7-min read

Major financial updates today at a glance:

Google invests $4.5 billion in India's Reliance Jio Platforms

Google has become the latest high-profile firm to back India's Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday. Read more

Reliance Jio to push affordable 5G smartphones in India, with Google partnership on board

Reliance Industries has announced the big push for 5G in India. At the company’s Annual General Meeting (AGM) virtual announcements, Reliance Jio confirmed that it is working on indigenous 5G mobile networks. At the same time, Reliance Jio has confirmed that it will enable a push for affordable 5G smartphones in India. This comes as Reliance Industries announced the Rs 33,373 crore investment by technology giant Google in Jio Platforms for a 7.7% stake. Read more

'Good News': First COVID-19 vaccine tested in US poised to begin key final check

The first COVID-19 vaccine tested in the US revved up people's immune systems just the way scientists had hoped, researchers reported Tuesday — as the shots are poised to begin key final testing. Read more

Air India to send certain employees on compulsory leave without pay for up to five years

Air India has started the process of identifying employees, based on various factors like efficiency, health and redundancy, who will be sent on compulsory leave without pay (LWP) for up to five years, according to an official order. Read more

Sensex falls 700 points from day’s high, Wipro surges 16%

Markets ended the day marginally higher with the Sensex giving-up gains of as much as 700 points from the days high, following selling pressure in Reliance Industries, which fell following its AGM. Read more

4 reasons why Sensex gained 700 points today

After Tuesday's dramatic fall, the Sensex and Nifty have again seen a pullback rally on July 15, 2020 driven by gains in heavyweights as well as IT stocks wherein Nifty IT index has posted gains of 4%. Read more

Gold price fall for second day; global rates steady above $1800/oz

Gold Prices in India on Wednesday (July 15, 2020) tumbled by a tad 0.08% or Rs. 41 in early trade to Rs. 49218 per 10 gm. This is even as prices in global markets steadied above levels of $1800 per ounce. This is primarily owing to depreciation in rupee against the dollar. Read more

After TikTok ban, 'Ding Dong' app gains popularity, but there's more to it than meets the eye

Earlier this month, the Indian government announced ban on 59 Chinese apps, which included TikTok, Shein, ShareIt, Mi Community, among others. With the ban of these apps, various unpopular-till-now apps have started to gain popularity. According to a report by analytics platform Sensor Tower, between 29 June and 8 July, apps like ShareChat and Roposo, both of which are India-grown video sharing apps, saw a rise in the number of downloads since the ban of the Chinese apps. Read more

From million fans to zero: TikTokers look to rebuild paradise lost

The ban on TikTok in India has left a void for content creators as their insatiable need to post content and engage with their audience has taken a major blow.

Since the ban, most of these content creators are looking to start afresh by migrating to Indian apps like Chingari, Trell, Roposo and Mitron which are the cream of the crop. Read more

History of World Youth Skills Day, 2020

Every year, the World Youth Skills Day is observed across the world on July 15 across the world. The special day aims to achieve better socio-economic conditions for yhe youth who would address several challenges including that unemployment with their innovative entrepreneurship skills. Read more

Maruti Suzuki to recall over 1.3 lakh units of WagonR and Baleno due to fuel pump issue

Maruti Suzuki India Limited has announced a mandatory recall for WagonR (1 Litre) manufactured between November 15th 2018 and October 15th 2019 and Baleno (Petrol) manufactured between January 8th 2019 and November 4th 2019. Read more

What makes Jio irresistible for arch-rivals Google and Facebook to come together as investors

In a rare event, world's largest technology companies and rivals, Google and Facebook, are investors in Reliance Industries Limited's (RIL) Jio. Read more

5 signs you are not earning enough

‘Spend less than you earn.’ We often come across this advice. Not just from financial experts but from our elders as well. Especially in a country like ours, where since childhood we are advised to ‘Live well within your means.’ So anytime we are short on money, we quickly resort to pinching pennies. Failing to realise that our income could be the spoilsport. Read more

But how can you spot the culprit? Is it your income or expenses?

How to check PPF account balance online and offline?

Public Provident Fund (PPF), the popular savings-cum-tax benefit investment instrument in India has been a long favourite among risk-averse investors due to its safe nature. The high-interest rate with tax-free returns is the major attraction of this long-term product. Read more

Facebook set to launch licensed music videos for users to rival YouTube

In an ambitious bid to take on Google-owned YouTube, Facebook is readying itself to launch officially-licensed music videos for artists on its platform in the US next month. In an email sent to Facebook Page owners linked to artists, the social network informed that they will need to toggle on a new setting to add their music videos to their page ahead of an August 1 deadline, reported TechCrunch. Read more

The truth about what stands between youth and decent jobs

More young people are staying in school instead of entering the labour market at an early age. That’s good news. Yet more than 200 million young people are either unemployed or have a job but live in poverty.

On World Youth Skills Day, 2020 explore this InfoStory to learn more about global employment trends for young people and what stands between them and a decent job. Read more

New (Fifth-Generation) Honda City launched in India: prices start at Rs 10.90 Lakh

Honda Cars India has launched the all-new City sedan in the Indian market. The all-new Honda City is now in its fifth-generation iteration and is offered with a starting price of Rs 10.90 lakh, ex-showroom (India). Read more

China vows to retaliate to Trump's Hong Kong sanctions

On Wednesday, China said that it would retaliate after US President Donald Trump signed into law an act allowing sanctions on banks over Beijing's interference with Hong Kong's autonomy. Read more

MG Hector Plus first look review: Can this new 6-Seater SUV beat Toyota Innova Crysta?

It's not easy for any automaker to enter India and create a name for itself. MG Motor, not only entered India last year in 2019, but created a name for itself as a premium carmaker offering all the bells and whistles at an affordable price with the launch of the MG Hector, a five seater SUV. Now MG Motor wants to take forward the success of the Hector with a 6-seater variant called the Hector Plus. Here's our first look review of the MG Hector Plus 6-seater SUV. Read more

4 things to remember on motor insurance policy renewal

Paying and renewing your motor insurance policy is an annual exercise and with years of owing your car, you might now be aware of what are your utmost needs and what kind of claim you may need of. Read more

DRDO develops P-7 heavy drop system for para drop of military stores

Agra (Uttar Pradesh), July 15 (ANI): DRDO has developed P7 Heavy Drop System which is capable of para dropping military stores up to 7-ton weight class from IL-76 aircraft. This system is fully indigenous and being manufactured by L&T who makes the platform system, parachutes manufactured by Ordnance Factory. Read more

Google faces privacy lawsuit in US for monitoring mobile apps even when users opted out

Alphabet Inc’s Google records what people are doing on hundreds of thousands of mobile apps even when they follow the company’s recommended settings for stopping such monitoring, a lawsuit seeking class-action status alleged on Tuesday. The data privacy lawsuit is the second filed in as many months against Google by the law firm Boies Schiller Flexner on behalf of a handful of individual consumers. The firm’s clients also have included Google competitors such as Facebook Inc and Oracle Corp. Read more