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Recent reports suggest that Amazon had access to the ballots from the recent union elections which worked out in favour of the company and had the potential to alter the future of workers rights in Amazon warehouses across the world.

Amazon employee Kevin Jackson told National Labour Relations Board that&nbsp;security guards at the Alabama warehouse&nbsp;had access to keys of the mailbox containing ballots of the high-profile union election held earlier this year.

Jackson added that&nbsp;while he was finishing up a night shift, he saw the guards going through the opened mailbox for "a minute or two"&nbsp;as though looking for something.&nbsp;

Also read:&nbsp;<a href="Why Amazon’s workers sided with the company over a union">Why Amazon’s workers sided with the company over a union</a>

If true, this directly breaches the legality imbued in the elections, for only the US Postal Service had the right to open the ballots.&nbsp;Now, many believe such invasion could prompt the National Labor Relations Board to overturn the results.&nbsp;

Also read:&nbsp;<a href="Amazon leads union election by 2-1; count to resume on Friday">Amazon leads union election by 2-1; count to resume on Friday</a>

The mailbox was installed by US Postal Services at Amazon's request. Now,&nbsp;workers have accused the company of spying over them. They found Amazon's interference&nbsp;illegal as law restricts the surveillance of employees’ union election activities.&nbsp;

In an April 16 complaint, Retail Wholesale and Department Store Union accused Amazon of misconduct for issuing anti-union threats, firing an employee for distributing union cards, and pressuring workers to use the mailbox to cast their votes.

Amazon has constantly refused the allegations saying, "This mailbox — which only the USPS had access to — was a simple, secure, and completely optional way to make it easy for employees to vote, no more and no less." However, Jackson's testimony contradicted Amazon's assertion.&nbsp;

Out of 1798 who voted, 738 Amazon employees cast votes&nbsp;against the union with 505 other disputed ballots uncounted. The labour board holds the power of rejecting the polls if this could have altered the outcome and prevented employees from their choice to unionise.

Recent reports suggest that Amazon had access to the ballots from the recent union elections which worked out in favour of the company and had the potential to alter the future of workers rights in Amazon warehouses across the world.

Recent reports suggest that Amazon had access to the ballots from the recent union elections which worked out in favour of the company and had the potential to alter the future of workers rights in Amazon warehouses across the world. Amazon employee Kevin Jackson told National Labour Relations Board that security guards at the Alabama warehouse had access to keys of the mailbox containing ballots of the high-profile union election held earlier this year. Jackson added that while he was finishing up a night shift, he saw the guards going through the opened mailbox for "a minute or two" as though looking for something. Also read: Why Amazon’s workers sided with the company over a union If true, this directly breaches the legality imbued in the elections, for only the US Postal Service had the right to open the ballots. Now, many believe such invasion could prompt the National Labor Relations Board to overturn the results. Also read: Amazon leads union election by 2-1; count to resume on Friday The mailbox was installed by US Postal Services at Amazon's request. Now, workers have accused the company of spying over them. They found Amazon's interference illegal as law restricts the surveillance of employees’ union election activities. In an April 16 complaint, Retail Wholesale and Department Store Union accused Amazon of misconduct for issuing anti-union threats, firing an employee for distributing union cards, and pressuring workers to use the mailbox to cast their votes. Amazon has constantly refused the allegations saying, "This mailbox — which only the USPS had access to — was a simple, secure, and completely optional way to make it easy for employees to vote, no more and no less." However, Jackson's testimony contradicted Amazon's assertion. Out of 1798 who voted, 738 Amazon employees cast votes against the union with 505 other disputed ballots uncounted. The labour board holds the power of rejecting the polls if this could have altered the outcome and prevented employees from their choice to unionise.

Amazon employees say company had access to warehouse ballots in Alabama. What happens now?

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The era of Archies gift shops was something. It was a one-stop shop for all gifts, greetings cards and what not. But just after the turn of the millenium and ahead, the popularity of such shops nosedived.

From engraving someone's name on a keychain being a huge thing, we have come to an era in which even a villager can get a photo printed on a mug and get it delivered to his home. And the ideas of gifts are changing as well.

Enter stock cards! These are gift cards for blue-chip stocks. Couples in South Korea are gifting them to each other. One investment bank has sold 20,000 'stock gift cards' in just five months. Another stock provider sold 3.4 million such cards in a matter of 20 days.

3.4 million!

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&nbsp;

Who are buying these stocks? Mostly couples in their 20s and 30s. Which stock is their favourite? Tesla! Apple is close behind followed by Starbucks and Netflix.

A 23-year-old college student from South Korea gifted four stock cards to his girlfriend on her birthday. How did she react? The girlfriend first thought it was a scam.

Here's what her partner told a media house:&nbsp;"I didn't get beaten up by her, but she did say that I should increase the amount of cash I put into the gift card next time."

How much are these stocks priced at? A stock in Starbucks comes for as much as a latte. Couples who want to spend more can go for Apple stock gift card. They cost around 22 dollars. Then there are Testla stock cards for couples who can afford something a litte more expensive, with each stock selling at 26 dollars.

Believe it or not, the trend of gifting stocks may have something to do with Kim Kardashian. In 2017, she recieved Amazon, Apple, Disney and Netflix stock as Christmas gift. It was from her then-husband Kayne West.

The pair is now separated but their gestures have revolutionised gifting.

Leave alone stock gift cards, Who would have thought of stocks as gifts?

Most of us get confused when it comes to picking the perfect chocolate, or the right flowers. We were not always this spoilt for choice.

The history of gifting goes back to start of the civilisation. There were no cards, no ribbons, no wrapping papers then. Researchers say that back when we lived in caves, gifts were mostly unusual shaped rocks or animal teeth. They were exchanged to express one's love for another.

Time changed, and so did gifts.

Sometime between 605 BC and 562 BC,&nbsp;King Nebuchadnezzar II built the Hanging Garden of Babylon as a gift for his wife Queen Amytis.

In the 16th century, Queen of England Anne Boleyn had a fountain made as a gift for her husband King Henry VIII. They say the fountain was decorated with gold, rubies, pearls and silver.

In 2013, boxer Mike Tyson bought a 24-carat solid gold bathtub for his then-wife Robin Givens. It was a birthday gift worth $2 million.

In 2012, actor Angelina Jolie gifted her then-partner Brad Pitt a waterfall!

Planes and yachts are a common gift among the richie rich.&nbsp;

But what inspires these exorbitant gifting ideas? Researchers say, we humans use gifts to attract or retain mates. Even our nearest relatives the Chimpanzees often give gifts of food to females.

The global gifting market is worth $698 billion, according to a media startup, Bazinga.&nbsp;

It says India is expected to be one of the world's largest gifting markets by 2024. One estimate says India's gifting market is expected to cross $159 million by 2025. India is also home to the world's most famous emblem of love, the Taj Mahal. A gift in memory of Mumtaz Mahal, by her husband, the Mughal Emperor Shah Jahan. The Taj was completed in 1648.&nbsp;

It's been 373 years, and so much has changed. Even in middle of a pandemic, we can send customised cakes and gifts to our partners living thousands of miles away with just a click. What more? They are delivered within hours.

As a gesture of love, you can also name a star after your partner. People gift holidays, hand-made cookies, land, and luxuries.

The list is long.

And just in case you are still struggling to pick the right gift for your partner, you might want to keep stocks as an option!

The era of Archies gift shops was something. It was a one-stop shop for all gifts, greetings cards and what not. But just after the turn of the millenium and ahead, the popularity of such shops nosedived.

The era of Archies gift shops was something. It was a one-stop shop for all gifts, greetings cards and what not. But just after the turn of the millenium and ahead, the popularity of such shops nosedived. From engraving someone's name on a keychain being a huge thing, we have come to an era in which even a villager can get a photo printed on a mug and get it delivered to his home. And the ideas of gifts are changing as well. Enter stock cards! These are gift cards for blue-chip stocks. Couples in South Korea are gifting them to each other. One investment bank has sold 20,000 'stock gift cards' in just five months. Another stock provider sold 3.4 million such cards in a matter of 20 days. 3.4 million! × Who are buying these stocks? Mostly couples in their 20s and 30s. Which stock is their favourite? Tesla! Apple is close behind followed by Starbucks and Netflix. A 23-year-old college student from South Korea gifted four stock cards to his girlfriend on her birthday. How did she react? The girlfriend first thought it was a scam. Here's what her partner told a media house: "I didn't get beaten up by her, but she did say that I should increase the amount of cash I put into the gift card next time." How much are these stocks priced at? A stock in Starbucks comes for as much as a latte. Couples who want to spend more can go for Apple stock gift card. They cost around 22 dollars. Then there are Testla stock cards for couples who can afford something a litte more expensive, with each stock selling at 26 dollars. Believe it or not, the trend of gifting stocks may have something to do with Kim Kardashian. In 2017, she recieved Amazon, Apple, Disney and Netflix stock as Christmas gift. It was from her then-husband Kayne West. The pair is now separated but their gestures have revolutionised gifting. Leave alone stock gift cards, Who would have thought of stocks as gifts? Most of us get confused when it comes to picking the perfect chocolate, or the right flowers. We were not always this spoilt for choice. The history of gifting goes back to start of the civilisation. There were no cards, no ribbons, no wrapping papers then. Researchers say that back when we lived in caves, gifts were mostly unusual shaped rocks or animal teeth. They were exchanged to express one's love for another. Time changed, and so did gifts. Sometime between 605 BC and 562 BC, King Nebuchadnezzar II built the Hanging Garden of Babylon as a gift for his wife Queen Amytis. In the 16th century, Queen of England Anne Boleyn had a fountain made as a gift for her husband King Henry VIII. They say the fountain was decorated with gold, rubies, pearls and silver. In 2013, boxer Mike Tyson bought a 24-carat solid gold bathtub for his then-wife Robin Givens. It was a birthday gift worth $2 million. In 2012, actor Angelina Jolie gifted her then-partner Brad Pitt a waterfall! Planes and yachts are a common gift among the richie rich. But what inspires these exorbitant gifting ideas? Researchers say, we humans use gifts to attract or retain mates. Even our nearest relatives the Chimpanzees often give gifts of food to females. The global gifting market is worth $698 billion, according to a media startup, Bazinga. It says India is expected to be one of the world's largest gifting markets by 2024. One estimate says India's gifting market is expected to cross $159 million by 2025. India is also home to the world's most famous emblem of love, the Taj Mahal. A gift in memory of Mumtaz Mahal, by her husband, the Mughal Emperor Shah Jahan. The Taj was completed in 1648. It's been 373 years, and so much has changed. Even in middle of a pandemic, we can send customised cakes and gifts to our partners living thousands of miles away with just a click. What more? They are delivered within hours. As a gesture of love, you can also name a star after your partner. People gift holidays, hand-made cookies, land, and luxuries. The list is long. And just in case you are still struggling to pick the right gift for your partner, you might want to keep stocks as an option!

Greeting cards are so yesterday, 'stock cards' is the new buzz!

Indian stock market indices, Sensex and Nifty ended Friday's volatile session flat as losses in metal, auto stocks offset a surge in FMCG majors. Broader markets underperformed benchmarks with the midcap and smallcap indices down around 1.5 per cent each for the day.&nbsp;

Sensex culminated the session at 48,732.5 levels, adding 42 points or 0.09 per cent. During the choppy session, the index hit a high and low of 48,899 and 48,473, respectively.&nbsp;

On the NSE, the broader 50-share index defended the 14,650-mark to settle at 14,678 levels, down 19 points or 0.13 per cent.

Meanwhile, The Indian rupee ended higher by 13 paise at 73.29 per dollar. The local currency opened flat at 73.42 per dollar against Wednesday's close of 73.42 and traded in the range of 73.22-73.43.&nbsp;

(With inputs from agencies)

Indian stock market indices, Sensex and Nifty ended Friday's volatile session flat as losses in metal, auto stocks offset a surge in FMCG majors. Broader markets underperformed benchmarks with the midcap and smallcap indices down around 1.

Indian stock market indices, Sensex and Nifty ended Friday's volatile session flat as losses in metal, auto stocks offset a surge in FMCG majors. Broader markets underperformed benchmarks with the midcap and smallcap indices down around 1.5 per cent each for the day. Sensex culminated the session at 48,732.5 levels, adding 42 points or 0.09 per cent. During the choppy session, the index hit a high and low of 48,899 and 48,473, respectively. On the NSE, the broader 50-share index defended the 14,650-mark to settle at 14,678 levels, down 19 points or 0.13 per cent. Meanwhile, The Indian rupee ended higher by 13 paise at 73.29 per dollar. The local currency opened flat at 73.42 per dollar against Wednesday's close of 73.42 and traded in the range of 73.22-73.43. (With inputs from agencies)

Sensex ends flat, Nifty below 14,700

The report from the US Labor Department comes amid fears that rising consumer prices could push up interest rates.

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The price of bitcoin fell about 5 percent to $51,847 after Musk’s comments on Twitter. Tesla’s stock finished Wednesday down 4.4 percent.

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According to data released by the Centre for Monitoring Indian Economy(CMIE), India's unemployment rate jumped to 8 per cent in April.

Watch:

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Last month&nbsp;the <a href="https://www.wionews.com/india-news/covid-19-india-clocks-more-than-362000-fresh-covid-cases-4120-deaths-384687">second wave</a> became more contagious&nbsp;impacting many parts of Asia's third-largest economy.&nbsp;

The overall rate of unemployment in March 2021 was 6.5 per cent while the urban unemployment in <a href="https://www.wionews.com/india-news/india-will-have-to-invest-heavily-in-infrastructure-for-economy-to-recover-un-expert-384688">India </a>is now nearing 12 per cent, the highest in more than 10 months.

While the labour force shrank by 1.1 million in April, the count of the total employed fell by around 7.35 million last month, although there is no nationwide lockdown currently like last year, micro lockdowns have been announced by many states to curb the spread of the virus.

Some economists believe lockdowns by states which is equal to a quasi-national lockdown will put further pressure on the job market with prospects for jobs bleak during the year as the second wave of COVID-19 impacts economic recovery.

Professional forecasting agencies have already scaled back their GDP growth projections for the year.

Earlier on Tuesday, rating agency Moody’s investors' service had slashed its F22 growth forecast for India to 9.3 per cent from 13.7 per cent estimated earlier, joining others, including Nomura&nbsp;which also cut projection from 12.6 per cent to 10.8 per cent.

A Reuters report said<a href="https://www.wionews.com/india-news/covid-19-more-ventilators-oxygen-cylinders-arrive-in-india-from-europe-384685"> India's</a> inflation&nbsp;had eased to a three-month low last month as food costs rose slowly even as several parts of the country went into lockdown due to a surge in virus cases.

Annual retail inflation rose 4.29 per cent, down from 5.52 per cent in March, the Reuters report said as food prices rose &nbsp;2.02 per cent compared with 4.87 per cent in the previous month.

Amid the ravaging second wave, the Retailers Association of India (RAI) said workers and businesses need urgent support due to restrictions imposed in the aftermath of the virus surge.

"Retailers need to pay salaries, minimum electricity, rentals, property taxes, etc. Even if the businesses are shut due to lockdown. The cash inflow of the industry has come to a standstill, while the fixed operating costs remain intact," RAI said in a statement.

"Millions of MSME (Micro, Small &amp; Medium Enterprises) suppliers too get no payment from the industry participants," it added.

According to data released by the Centre for Monitoring Indian Economy(CMIE), India's unemployment rate jumped to 8 per cent in April. Watch: Last month the second wave became more contagious impacting many parts of Asia's third-largest economy.

According to data released by the Centre for Monitoring Indian Economy(CMIE), India's unemployment rate jumped to 8 per cent in April. Watch: Last month the second wave became more contagious impacting many parts of Asia's third-largest economy. The overall rate of unemployment in March 2021 was 6.5 per cent while the urban unemployment in India is now nearing 12 per cent, the highest in more than 10 months. While the labour force shrank by 1.1 million in April, the count of the total employed fell by around 7.35 million last month, although there is no nationwide lockdown currently like last year, micro lockdowns have been announced by many states to curb the spread of the virus. Some economists believe lockdowns by states which is equal to a quasi-national lockdown will put further pressure on the job market with prospects for jobs bleak during the year as the second wave of COVID-19 impacts economic recovery. Professional forecasting agencies have already scaled back their GDP growth projections for the year. Earlier on Tuesday, rating agency Moody’s investors' service had slashed its F22 growth forecast for India to 9.3 per cent from 13.7 per cent estimated earlier, joining others, including Nomura which also cut projection from 12.6 per cent to 10.8 per cent. A Reuters report said India's inflation had eased to a three-month low last month as food costs rose slowly even as several parts of the country went into lockdown due to a surge in virus cases. Annual retail inflation rose 4.29 per cent, down from 5.52 per cent in March, the Reuters report said as food prices rose 2.02 per cent compared with 4.87 per cent in the previous month. Amid the ravaging second wave, the Retailers Association of India (RAI) said workers and businesses need urgent support due to restrictions imposed in the aftermath of the virus surge. "Retailers need to pay salaries, minimum electricity, rentals, property taxes, etc. Even if the businesses are shut due to lockdown. The cash inflow of the industry has come to a standstill, while the fixed operating costs remain intact," RAI said in a statement. "Millions of MSME (Micro, Small & Medium Enterprises) suppliers too get no payment from the industry participants," it added.

India suffers record job losses in April amid second wave

Indian inflation eased to a three-month low in April as food costs rose more slowly, but lockdowns to contain the country`s raging coronavirus epidemic risk creating supply bottlenecks that could fuel price pressures in coming months. 
 
Annual retail inflation rose 4.29%, down from 5.52% in March and near the 4.20% forecast in a Reuters poll of economists. 
 
Food prices, which account for nearly half of the Ministry of Statistics` inflation basket, rose 2.02% compared with 4.87% in the previous month. 
 
"Any comfort from this could be illusory," Rupa Rege Nitsure, chief economist at L&amp;T Financial Services said, warning of a build-up of inflationary pressures that risked affecting wholesale prices first. 
 
Concern about high global commodity prices and supply chain disruptions amid widespread curbs on the movement led the central bank last month to raise its inflation projection for the six months to September to 5.2%. 
 
That still places it within the bank`s target range of 2-6%. 
 
India`s second COVID-19 wave, which official figures show is infecting around 350,000 people and killing around 4,000 per day, has forced nearly two-thirds of the country to introduce tough curbs that have slowed economic activity. 
 
The likelihood that India will receive an average amount of rain in the 2021 monsoon should however help ease inflationary pressure as a normal rainy season generally translates into higher farm output. 
 
April core inflation, excluding food and fuel costs, was estimated in the range of 5.4% to 5.43% by three economists, compared with 5.9% to 6.0% in March. India does not release official core inflation data.

Indian inflation eased to a three-month low in April as food costs rose more slowly, but lockdowns to contain the country`s raging coronavirus epidemic risk creating supply bottlenecks that could fuel price pressures in coming months.

Indian inflation eased to a three-month low in April as food costs rose more slowly, but lockdowns to contain the country`s raging coronavirus epidemic risk creating supply bottlenecks that could fuel price pressures in coming months. Annual retail inflation rose 4.29%, down from 5.52% in March and near the 4.20% forecast in a Reuters poll of economists. Food prices, which account for nearly half of the Ministry of Statistics` inflation basket, rose 2.02% compared with 4.87% in the previous month. "Any comfort from this could be illusory," Rupa Rege Nitsure, chief economist at L&T Financial Services said, warning of a build-up of inflationary pressures that risked affecting wholesale prices first. Concern about high global commodity prices and supply chain disruptions amid widespread curbs on the movement led the central bank last month to raise its inflation projection for the six months to September to 5.2%. That still places it within the bank`s target range of 2-6%. India`s second COVID-19 wave, which official figures show is infecting around 350,000 people and killing around 4,000 per day, has forced nearly two-thirds of the country to introduce tough curbs that have slowed economic activity. The likelihood that India will receive an average amount of rain in the 2021 monsoon should however help ease inflationary pressure as a normal rainy season generally translates into higher farm output. April core inflation, excluding food and fuel costs, was estimated in the range of 5.4% to 5.43% by three economists, compared with 5.9% to 6.0% in March. India does not release official core inflation data.

Indian inflation eases, but COVID-19 curbs risk stoking prices

A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year.

According to the media reports, a spokesman for Goldman Sachs confirmed Aziz McMahon, a managing director and head of emerging market sales based in London, has left the investment bank. But the spokesman also said that he had no knowledge of the investment in dogecoin. 
 
He graduated from Trinity College in Dublin with a master’s degree in Economics in 1998.

The Guardian newspaper reported McMahon made the money investing on his own personal account and wasn’t involved in trading cryptocurrencies for Goldman Sachs. While not much is known about the amount McMahon reportedly made, the newspaper cites unnamed sources claiming it was a “substantial sum.”

A report in eFinancialCareers suggested he might be starting a hedge fund, but it did not provide any information backing those claims.

SpaceX and Tesla chief Elon Musk's favourite cryptocurrency has gone up more than 130-fold this year. SpaceX announced the "DOGE-1 Mission to the Moon" in the first quarter of next year, with Musk's commercial rocket company accepting the meme-inspired cryptocurrency Dogecoin as payment.

However, Dogecoin lost more than a third of its price on May 9, after Musk called it a "hustle" during his guest-host spot on the Saturday Night Live (SNL) comedy sketch TV show.

(With inputs from agencies)

A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year.

A senior executive at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto-asset which has risen by more than 1,000 per cent in value this year. According to the media reports, a spokesman for Goldman Sachs confirmed Aziz McMahon, a managing director and head of emerging market sales based in London, has left the investment bank. But the spokesman also said that he had no knowledge of the investment in dogecoin. He graduated from Trinity College in Dublin with a master’s degree in Economics in 1998. The Guardian newspaper reported McMahon made the money investing on his own personal account and wasn’t involved in trading cryptocurrencies for Goldman Sachs. While not much is known about the amount McMahon reportedly made, the newspaper cites unnamed sources claiming it was a “substantial sum.” A report in eFinancialCareers suggested he might be starting a hedge fund, but it did not provide any information backing those claims. SpaceX and Tesla chief Elon Musk's favourite cryptocurrency has gone up more than 130-fold this year. SpaceX announced the "DOGE-1 Mission to the Moon" in the first quarter of next year, with Musk's commercial rocket company accepting the meme-inspired cryptocurrency Dogecoin as payment. However, Dogecoin lost more than a third of its price on May 9, after Musk called it a "hustle" during his guest-host spot on the Saturday Night Live (SNL) comedy sketch TV show. (With inputs from agencies)

Goldman Sachs director quits after making millions from Dogecoin: Report

Rating agency Moody’s Investor Service on Tuesday slashed India’s Gross Domestic Product (GDP) growth forecast for the current financial year 2021-22 to 9.3 per cent from the projected 13.7 per cent.

Moody's slashes FY22 GDP forecast for India to 9.3%

Domestic stock market indices, Sensex and Nifty ended lower on Wednesday dragged by heavy selling in metals, IT, private banks and financial services stocks.&nbsp;

Midcap and smallcap indices also declined. Gains were seen in PSU Banks, auto and media indices.&nbsp;

Sensex dropped 471 points to close at 48,691 levels. In the intra-day trade, the index hit a low of 48,551 levels.&nbsp;

On the NSE, the Nifty50 declined 154 points and gave up 14,700-mark to settle at 14,696 levels. Earlier in the day, the index had touched a low of 14,650.

(With inputs from agencies)

Domestic stock market indices, Sensex and Nifty ended lower on Wednesday dragged by heavy selling in metals, IT, private banks and financial services stocks. Midcap and smallcap indices also declined.

Domestic stock market indices, Sensex and Nifty ended lower on Wednesday dragged by heavy selling in metals, IT, private banks and financial services stocks. Midcap and smallcap indices also declined. Gains were seen in PSU Banks, auto and media indices. Sensex dropped 471 points to close at 48,691 levels. In the intra-day trade, the index hit a low of 48,551 levels. On the NSE, the Nifty50 declined 154 points and gave up 14,700-mark to settle at 14,696 levels. Earlier in the day, the index had touched a low of 14,650. (With inputs from agencies)

Sensex drops 471 points, Nifty ends below 14,700

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday.

According to its latest report Asia Pacific Prime Office Rental Index Q1 2021, Bandra Kurla Complex (BKC) in Mumbai witnessed a meaningful recovery in office rents to negative 0.8 per cent QoQ during January to March quarter compared to negative 5.5 per cent in the previous quarter. The robust recovery can be attributed to improved transaction activity.&nbsp;

Knight Frank forecasts the decline in rents to decelerate this year with overall rents expected to decline by 3 per cent in the Asia Pacific region compared to the 4.8 per cent decline seen in 2020.

The central business district of Bengaluru comprising areas like MG Road, Infantry Road and Residency Road registered a decline of 3 per cent QoQ in Q1 2021 against a decline of 4 per cent in Q4 2020. Connaught Place in National Capital Region (NCR) office rents saw a flat price change in Q1 2021 compared to a negative 1 per cent in Q4 2020.

According to the index, Taipei is the only city expected to witness an increase in office rental values across the A-Pac region in the next 12 months. Of the 22 cities tracked by the index, 8 recorded either stable or increased rents in the past quarter compared to 10 in the previous quarter. For Q1 2021, Knight Frank`s Asia Pacific Prime Office Rental Index fell negative 1.2 per cent quarter-on-quarter led by large office markets like Tokyo, Hong Kong and Bengaluru recorded rental decline between negative 3 to negative 2.8 per cent during the same period. On an annual basis, the overall index was down negative 5.5 per cent year-on-year.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the second wave of pandemic and associated regional lockdowns have temporarily delayed occupiers` office re-occupancy plans.However, control on infection case count with graded regional lockdowns and progress on vaccination drive will act as a market stabiliser in near future.

"Given the strong fundamentals of India office market, despite the near-term uncertainty, occupiers will positively react to any improvement in the pandemic scenario," he said.

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday.

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday. According to its latest report Asia Pacific Prime Office Rental Index Q1 2021, Bandra Kurla Complex (BKC) in Mumbai witnessed a meaningful recovery in office rents to negative 0.8 per cent QoQ during January to March quarter compared to negative 5.5 per cent in the previous quarter. The robust recovery can be attributed to improved transaction activity. Knight Frank forecasts the decline in rents to decelerate this year with overall rents expected to decline by 3 per cent in the Asia Pacific region compared to the 4.8 per cent decline seen in 2020. The central business district of Bengaluru comprising areas like MG Road, Infantry Road and Residency Road registered a decline of 3 per cent QoQ in Q1 2021 against a decline of 4 per cent in Q4 2020. Connaught Place in National Capital Region (NCR) office rents saw a flat price change in Q1 2021 compared to a negative 1 per cent in Q4 2020. According to the index, Taipei is the only city expected to witness an increase in office rental values across the A-Pac region in the next 12 months. Of the 22 cities tracked by the index, 8 recorded either stable or increased rents in the past quarter compared to 10 in the previous quarter. For Q1 2021, Knight Frank`s Asia Pacific Prime Office Rental Index fell negative 1.2 per cent quarter-on-quarter led by large office markets like Tokyo, Hong Kong and Bengaluru recorded rental decline between negative 3 to negative 2.8 per cent during the same period. On an annual basis, the overall index was down negative 5.5 per cent year-on-year. Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the second wave of pandemic and associated regional lockdowns have temporarily delayed occupiers` office re-occupancy plans.However, control on infection case count with graded regional lockdowns and progress on vaccination drive will act as a market stabiliser in near future. "Given the strong fundamentals of India office market, despite the near-term uncertainty, occupiers will positively react to any improvement in the pandemic scenario," he said.

India's prime office rentals expected to remain stable: Knight Frank

With infections now spreading to rural areas, a recovery is expected to take longer, the Federation of Automobile Dealers Association (FADA) said.

Indian auto dealers predict slow recovery as COVID prevails

The space tourism company reported an adjusted EBITDA loss of $55.9 million, down from a loss of $59.5 million in the previous quarter.

Virgin Galactic shares fall after another quarterly loss

The benchmark indices snapped a four-day winning streak with the Nifty50 falling below 14,900 levels as banking &amp; financials and IT stocks were under pressure.

S&amp;P BSE Sensex shredded 341 points, or 0.69 per cent, to end the session at 49,162 levels. During the day, the index traded within a range of 49,304 and 48,988 levels.

The Nifty50 index held the 14,850-mark today and settled at 14,851 levels, down 92 points or 0.61 per cent. The index breadth remained neck and neck with 28 stocks in the red against 22 stocks in the green.&nbsp;

JSW Steel, Hindalco, Wipro, and Divis Labs were the additional losers on the Nifty index while Coal India, Indian Oil Corporation, BPCL, and UPL were the additional gainers.

The broader markets, however, remained resilient to the market fall and ended higher today. The S&amp;P BSE MidCap and SmallCap indices gained 0.60 per cent and 0.80 per cent, respectively.

(With inputs from agencies)

The benchmark indices snapped a four-day winning streak with the Nifty50 falling below 14,900 levels as banking & financials and IT stocks were under pressure. S&P BSE Sensex shredded 341 points, or 0.

The benchmark indices snapped a four-day winning streak with the Nifty50 falling below 14,900 levels as banking & financials and IT stocks were under pressure. S&P BSE Sensex shredded 341 points, or 0.69 per cent, to end the session at 49,162 levels. During the day, the index traded within a range of 49,304 and 48,988 levels. The Nifty50 index held the 14,850-mark today and settled at 14,851 levels, down 92 points or 0.61 per cent. The index breadth remained neck and neck with 28 stocks in the red against 22 stocks in the green. JSW Steel, Hindalco, Wipro, and Divis Labs were the additional losers on the Nifty index while Coal India, Indian Oil Corporation, BPCL, and UPL were the additional gainers. The broader markets, however, remained resilient to the market fall and ended higher today. The S&P BSE MidCap and SmallCap indices gained 0.60 per cent and 0.80 per cent, respectively. (With inputs from agencies)

Sensex snaps 4-day rally, ends below 49,200; Nifty at 14,850

Aerospace company Boeing Co was explicit, naming who among its dozen directors were women, Asian and African American. Agricultural giant Archer Daniels Midland Co offered a more general accounting, saying its board was 55% diverse. 
 
Illinois officials have seen the range of responses from local companies - many with international profiles - to new state requirements they identify the gender and race or ethnicity of each board member. The regulators say they are going to push all to be more like Boeing. 
 
Companies, investors and elected officials will watch closely what happens next with the state`s rare requirement for director-by-director declarations. 
 
Others say less specific disclosures protect directors’ privacy, but even those plans face opposition. Some Republicans have called for regulators to reject a Nasdaq Inc proposal to ask for the number of directors by gender, race and ethnicity - without any names. 
 
State Representative Chris Welch, the speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. "You can`t go wrong with more data," said Welch, who is Black. 
 
Corporate America`s white-dominated leadership has been under the spotlight for supporting the Black Lives Matter movement while listing few leaders of colour. Activists point to some studies suggesting companies with diverse boards perform better. 
 
Chicago-based Morningstar Inc CEO Kunal Kapoor said, "Over time investors want more detail, rather than less." 
 
"Putting sunlight on areas that lacked it has rarely had a poor outcome for investors," added Kapoor, who is Indian American and identified as Asian in a corporate filing last year. 
 
Companies face no penalty if they do not fully report but may comply to avoid criticism by people scrutinizing the information, which began appearing on the Secretary of State’s website last year. 
 
Last month Illinois officials tweaked a disclosure form to make more explicit the call for companies to list the self-identified race or ethnicity of each director and gender. 
 
A spokeswoman for ADM - which in 2020 gave the 55% figure and noted five of its 11 directors were African American, Asian or Hispanic, and that three were women - told Reuters the company will consider reporting further detail next year. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic. 
 
Sixty-six of the 74 companies that filed forms since the law was passed provided enough information to parse out their racial diversity, University of Illinois professor Richard Benton said in a March study. He found non-white people held about 15% of the average company`s boardroom seats, compared to their 40% share of the state’s population. 
 
But even among companies with incomplete filings there seemed to be little resistance to the disclosures. For instance, at U.S. Cellular Corp only two of fifteen directors provided their race on a form last July. The company did not make directors available to comment but a spokeswoman said for a more current filing, “100% of our members have self-identified.” 
 
Phyllis Lockett, a director at exchange operator CME Group Inc, said that diversity disclosures should give some breakdown by race and ethnicity to help identify what groups might be missing. She said she did not mind being identified as a Black woman on a filing last August. "I am Black and I am a woman. There’s no secret there,” she said. 
 
Ekta Singh-Bushell, who described herself as Indian American and is identified as Asian in a filing from Huron Consulting Group, said that disclosure must have details and nuance on directors’ skills, knowledge and experience to show they do more than "check the box" for gender or race 
 
“To bring about sustainable and real, lasting change, the conversation should be, `Do we have the right representation to fulfil our highest purpose as a corporation?`” she asked. 
 
Among the S&amp;P 500, 9% of directors were Black as of January, according to researcher Equilar, up from 8% in August. Hispanics were 4.2% of S&amp;P 500 directors, up from 3.6% in August. Asian or Pacific Islander directors accounted for 4.5%, up from 4.4% in August. 
 
African Americans were 13.4% and Hispanics 18.5% of the U.S. population, as of 2019. Asians were 5.9%. Women, 51% of the U.S population, held 23.5% of board seats at Russell 3000 companies last year, up from 18.5% in 2018, Equilar found. 
 
Illinois State Senator Jacqueline Collins, an African American who co-sponsored the legislation, said that without name-by-name disclosures, it can be hard to determine whether companies are being frank when they declare they are diverse. 
 
"So we want to know the specific participation,” Collins said. 
 
Other plans do not go as far. Stock exchange operator Nasdaq Inc is awaiting regulators` approval to require companies it lists to report the number of directors by gender and in categories including Black or Hispanic and LGBTQ+, but not name-by-name. The exchange wants boards to have at least one woman and one minority or LGBTQ+ member, or explain why they do not. 
 
"We don`t actually care about which person is which. We want to understand the boardroom as a whole,” said Wendy Cromwell, vice-chair of the $1.1 trillion Boston money manager Wellington Management. It supports the Nasdaq plan especially for having companies provide diverse information in easily compared tables. 
 
But Joe Shoen, the CEO of U-Haul’s parent company, Nasdaq-listed Amerco, objects. 
 
"As soon as you sort people by skin colour, you got my back up," Shoen, who described his family as interracial, said in an interview. “That it has some meaningful indication as to how a corporation is being managed is superficial at best.” 
 
Shoen said he regularly speaks with entry-level U-Haul employees to gain diverse perspectives.

Aerospace company Boeing Co was explicit, naming who among its dozen directors were women, Asian and African American. Agricultural giant Archer Daniels Midland Co offered a more general accounting, saying its board was 55% diverse.

Aerospace company Boeing Co was explicit, naming who among its dozen directors were women, Asian and African American. Agricultural giant Archer Daniels Midland Co offered a more general accounting, saying its board was 55% diverse. Illinois officials have seen the range of responses from local companies - many with international profiles - to new state requirements they identify the gender and race or ethnicity of each board member. The regulators say they are going to push all to be more like Boeing. Companies, investors and elected officials will watch closely what happens next with the state`s rare requirement for director-by-director declarations. Others say less specific disclosures protect directors’ privacy, but even those plans face opposition. Some Republicans have called for regulators to reject a Nasdaq Inc proposal to ask for the number of directors by gender, race and ethnicity - without any names. State Representative Chris Welch, the speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. "You can`t go wrong with more data," said Welch, who is Black. Corporate America`s white-dominated leadership has been under the spotlight for supporting the Black Lives Matter movement while listing few leaders of colour. Activists point to some studies suggesting companies with diverse boards perform better. Chicago-based Morningstar Inc CEO Kunal Kapoor said, "Over time investors want more detail, rather than less." "Putting sunlight on areas that lacked it has rarely had a poor outcome for investors," added Kapoor, who is Indian American and identified as Asian in a corporate filing last year. Companies face no penalty if they do not fully report but may comply to avoid criticism by people scrutinizing the information, which began appearing on the Secretary of State’s website last year. Last month Illinois officials tweaked a disclosure form to make more explicit the call for companies to list the self-identified race or ethnicity of each director and gender. A spokeswoman for ADM - which in 2020 gave the 55% figure and noted five of its 11 directors were African American, Asian or Hispanic, and that three were women - told Reuters the company will consider reporting further detail next year. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic. Sixty-six of the 74 companies that filed forms since the law was passed provided enough information to parse out their racial diversity, University of Illinois professor Richard Benton said in a March study. He found non-white people held about 15% of the average company`s boardroom seats, compared to their 40% share of the state’s population. But even among companies with incomplete filings there seemed to be little resistance to the disclosures. For instance, at U.S. Cellular Corp only two of fifteen directors provided their race on a form last July. The company did not make directors available to comment but a spokeswoman said for a more current filing, “100% of our members have self-identified.” Phyllis Lockett, a director at exchange operator CME Group Inc, said that diversity disclosures should give some breakdown by race and ethnicity to help identify what groups might be missing. She said she did not mind being identified as a Black woman on a filing last August. "I am Black and I am a woman. There’s no secret there,” she said. Ekta Singh-Bushell, who described herself as Indian American and is identified as Asian in a filing from Huron Consulting Group, said that disclosure must have details and nuance on directors’ skills, knowledge and experience to show they do more than "check the box" for gender or race “To bring about sustainable and real, lasting change, the conversation should be, `Do we have the right representation to fulfil our highest purpose as a corporation?`” she asked. Among the S&P 500, 9% of directors were Black as of January, according to researcher Equilar, up from 8% in August. Hispanics were 4.2% of S&P 500 directors, up from 3.6% in August. Asian or Pacific Islander directors accounted for 4.5%, up from 4.4% in August. African Americans were 13.4% and Hispanics 18.5% of the U.S. population, as of 2019. Asians were 5.9%. Women, 51% of the U.S population, held 23.5% of board seats at Russell 3000 companies last year, up from 18.5% in 2018, Equilar found. Illinois State Senator Jacqueline Collins, an African American who co-sponsored the legislation, said that without name-by-name disclosures, it can be hard to determine whether companies are being frank when they declare they are diverse. "So we want to know the specific participation,” Collins said. Other plans do not go as far. Stock exchange operator Nasdaq Inc is awaiting regulators` approval to require companies it lists to report the number of directors by gender and in categories including Black or Hispanic and LGBTQ+, but not name-by-name. The exchange wants boards to have at least one woman and one minority or LGBTQ+ member, or explain why they do not. "We don`t actually care about which person is which. We want to understand the boardroom as a whole,” said Wendy Cromwell, vice-chair of the $1.1 trillion Boston money manager Wellington Management. It supports the Nasdaq plan especially for having companies provide diverse information in easily compared tables. But Joe Shoen, the CEO of U-Haul’s parent company, Nasdaq-listed Amerco, objects. "As soon as you sort people by skin colour, you got my back up," Shoen, who described his family as interracial, said in an interview. “That it has some meaningful indication as to how a corporation is being managed is superficial at best.” Shoen said he regularly speaks with entry-level U-Haul employees to gain diverse perspectives.

The US state with the most detailed corporate diversity disclosures

Moody’s Investors Service on Tuesday slashed India’s growth forecast for the current financial year to 9.3 per cent, from the 13.7 per cent projected earlier, on account of the negative impact of the second wave of COVID-19.&nbsp;

India is experiencing a severe second wave of coronavirus infections which will slow the near-term economic recovery and could weigh on longer-term growth dynamics, it said.

“As of now, we expect the negative impact on economic output to be limited to the April-June quarter, followed by a strong rebound in the second half of the year.

“As a result of the negative impact of the second wave, we have revised our real, inflation-adjusted GDP growth forecast down to 9.3 per cent from 13.7 per cent for fiscal 2021 and to 7.9 per cent from 6.2 per cent in fiscal 2022. Over the longer term, we expect growth of around 6 per cent thereafter,” Moody’s said.

On the fiscal front, Moody’s expects the renewed surge in the virus to contribute to a marginal shortfall in revenue and a redirection of spending toward healthcare and virus response relative to what the government budgeted in February.

“As a result, we now expect a wider general government fiscal deficit of about 11.8 per cent of GDP in fiscal 2021, compared with our previous forecast of 10.8 per cent and an estimated 14 per cent in fiscal 2020,” it added.

Moody’s said the combined impact of slower growth and a wider deficit would drive the general government debt burden to 90 per cent of GDP in fiscal 2021, gradually rising to 92 per cent in fiscal 2023.

India is facing the world’s worst outbreak of COVID-19, with more than 3 lakh new cases daily being reported for two weeks now, and the new cases reached more than 4 lakh new daily cases over the weekend. More than 2.49 lakh people in India have died from the virus infection. The public health system is buckling under the weight of surging infections and deaths with several parts of the country reporting shortage of hospital beds, medical oxygen, medicines and vaccines.

Moody’s Investors Service on Tuesday slashed India’s growth forecast for the current financial year to 9.3 per cent, from the 13.7 per cent projected earlier, on account of the negative impact of the second wave of COVID-19.

Moody’s Investors Service on Tuesday slashed India’s growth forecast for the current financial year to 9.3 per cent, from the 13.7 per cent projected earlier, on account of the negative impact of the second wave of COVID-19. India is experiencing a severe second wave of coronavirus infections which will slow the near-term economic recovery and could weigh on longer-term growth dynamics, it said. “As of now, we expect the negative impact on economic output to be limited to the April-June quarter, followed by a strong rebound in the second half of the year. “As a result of the negative impact of the second wave, we have revised our real, inflation-adjusted GDP growth forecast down to 9.3 per cent from 13.7 per cent for fiscal 2021 and to 7.9 per cent from 6.2 per cent in fiscal 2022. Over the longer term, we expect growth of around 6 per cent thereafter,” Moody’s said. On the fiscal front, Moody’s expects the renewed surge in the virus to contribute to a marginal shortfall in revenue and a redirection of spending toward healthcare and virus response relative to what the government budgeted in February. “As a result, we now expect a wider general government fiscal deficit of about 11.8 per cent of GDP in fiscal 2021, compared with our previous forecast of 10.8 per cent and an estimated 14 per cent in fiscal 2020,” it added. Moody’s said the combined impact of slower growth and a wider deficit would drive the general government debt burden to 90 per cent of GDP in fiscal 2021, gradually rising to 92 per cent in fiscal 2023. India is facing the world’s worst outbreak of COVID-19, with more than 3 lakh new cases daily being reported for two weeks now, and the new cases reached more than 4 lakh new daily cases over the weekend. More than 2.49 lakh people in India have died from the virus infection. The public health system is buckling under the weight of surging infections and deaths with several parts of the country reporting shortage of hospital beds, medical oxygen, medicines and vaccines.

Moody’s slashes India growth forecast to 9.3 per cent

US President <a href="https://www.wionews.com/topics/joe-biden">Joe Biden's</a>&nbsp;administration plans to restart the immigration programme for foreign entrepreneurs that his predecessor <a href="https://www.wionews.com/topics/donald-trump">Donald Trump</a>&nbsp;tried to end.&nbsp;

Three days before his tenure ended in 2017, former president Barack Obama announced the International Entrepreneur program that gives foreign entrepreneurs the right to work in the US for up to five years, as long as their companies are able to attract at least $250,000 in the US venture capital, and meet other requirements.&nbsp;

Watch |&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/bidens-approval-rating-boosted-by-covid-response-384213/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The Trump administration said that it wants to end the program as it is based on an authority known as parole that lets foreigners enter the US without visas for as long as there is "significant public benefit".&nbsp;

The programme was not ended, but applicants did not apply for it as they understood that US would not entertain their cases.&nbsp;

Since Biden came to office, venture-capital companies have urged the US administration to put the resources to back a program that allows thousands of foreign startup founders to move into the US or expand their businesses in the country.&nbsp;

Also read | <a href="https://www.wionews.com/world/no-evidence-of-russian-government-being-behind-ransomware-attack-says-biden-384191">No evidence of Russian government being behind ransomware attack, says Biden</a>

"Immigrants in the United States have a long history of entrepreneurship, hard work, and creativity, and their contributions to this nation are incredibly valuable," Acting US Citizenship and Immigration Services Director Tracy Renaud was quoted as saying by Wall Street Journal.

There is no separate visa program available for startup founders as of now in the US, and entrepreneurs based abroad are to apply via other categories.&nbsp;

Between 2017 and 2019, the US received just 30 applications for the program and just one was approved, according to an USCIS official.&nbsp; 
&nbsp;

US President Joe Biden's administration plans to restart the immigration programme for foreign entrepreneurs that his predecessor Donald Trump tried to end. Three days before his tenure ended in 2017, former president Barack Obama announced the International Entrepreneur program that gives foreign entrepreneurs the right to work in the US for up to five years, as long as their companies are able to attract at least $250,000 in the US venture capital, and meet other requirements.

US President Joe Biden's administration plans to restart the immigration programme for foreign entrepreneurs that his predecessor Donald Trump tried to end. Three days before his tenure ended in 2017, former president Barack Obama announced the International Entrepreneur program that gives foreign entrepreneurs the right to work in the US for up to five years, as long as their companies are able to attract at least $250,000 in the US venture capital, and meet other requirements. Watch | The Trump administration said that it wants to end the program as it is based on an authority known as parole that lets foreigners enter the US without visas for as long as there is "significant public benefit". The programme was not ended, but applicants did not apply for it as they understood that US would not entertain their cases. Since Biden came to office, venture-capital companies have urged the US administration to put the resources to back a program that allows thousands of foreign startup founders to move into the US or expand their businesses in the country. Also read | No evidence of Russian government being behind ransomware attack, says Biden "Immigrants in the United States have a long history of entrepreneurship, hard work, and creativity, and their contributions to this nation are incredibly valuable," Acting US Citizenship and Immigration Services Director Tracy Renaud was quoted as saying by Wall Street Journal. There is no separate visa program available for startup founders as of now in the US, and entrepreneurs based abroad are to apply via other categories. Between 2017 and 2019, the US received just 30 applications for the program and just one was approved, according to an USCIS official.

Biden administration seeks to revive visa programme for entrepreneurs

India's largest carmaker Maruti Suzuki India ltd. will keep its factories shut for another week citing the coronavirus pandemic.

India's top carmaker extends plant shutdown due to pandemic

Israel will sign a free trade agreement with South Korea this week, marking the first such arrangement with an Asian market, Israel's economy ministry said on Sunday.

Israel and South Korea to sign free trade pact

As China moves closer to rolling out the world's first major sovereign digital currency, speculation over the global implications has reached a fever pitch.

China's much-hyped digital Yuan fails to impress

Stock market indices, Sensex and Nifty ended higher on Monday led by strong gains in metals and pharma stocks amid positive global cues. Midcap and smallcap indices ended over 1 per cent higher each.&nbsp;

The BSE barometer of 30-shares hit an intra-day high of 49,617 before ending the session at 49,502 levels, up 296 points or 0.6 per cent.

On the NSE, the Nifty50 index reclaimed the crucial 14,900-mark and extended it rally to as high as 14,967 during the day. It ended the day at 14,942 levels, up 119 points or 0.8 per cent, riding on the back of gains in Coal India, UPL, Hindalco, Indian Oil Corporation, Tata Motors, L&amp;T, and Divis Labs. These stocks rallied up to 8 per cent.

Global markets

World stocks ticked up to new peaks on Monday on bets interest rates will remain low and the economies will continue their recovery. MSCI’s gauge of stocks across the globe hit a fresh record high and was up 0.1 per cent.&nbsp;

Europe’s STOXX 600 regional benchmark was up 0.1 per cent in early deals, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent.

In the commodities market, however, oil prices rose after a cyber attack shut down a US pipeline operator that provides nearly half of the US east coast's fuel supply. Brent crude rose 0.5 per cent to $68.64 per barrel, while US crude ticked up 0.5 per cent to $65.23 a barrel.

(With inputs from Reuters)

Stock market indices, Sensex and Nifty ended higher on Monday led by strong gains in metals and pharma stocks amid positive global cues. Midcap and smallcap indices ended over 1 per cent higher each.

Stock market indices, Sensex and Nifty ended higher on Monday led by strong gains in metals and pharma stocks amid positive global cues. Midcap and smallcap indices ended over 1 per cent higher each. The BSE barometer of 30-shares hit an intra-day high of 49,617 before ending the session at 49,502 levels, up 296 points or 0.6 per cent. On the NSE, the Nifty50 index reclaimed the crucial 14,900-mark and extended it rally to as high as 14,967 during the day. It ended the day at 14,942 levels, up 119 points or 0.8 per cent, riding on the back of gains in Coal India, UPL, Hindalco, Indian Oil Corporation, Tata Motors, L&T, and Divis Labs. These stocks rallied up to 8 per cent. Global markets World stocks ticked up to new peaks on Monday on bets interest rates will remain low and the economies will continue their recovery. MSCI’s gauge of stocks across the globe hit a fresh record high and was up 0.1 per cent. Europe’s STOXX 600 regional benchmark was up 0.1 per cent in early deals, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent. In the commodities market, however, oil prices rose after a cyber attack shut down a US pipeline operator that provides nearly half of the US east coast's fuel supply. Brent crude rose 0.5 per cent to $68.64 per barrel, while US crude ticked up 0.5 per cent to $65.23 a barrel. (With inputs from Reuters)

Sensex scales 49,500, ends 296 points higher; Nifty above 14,900

IAG, owner of&nbsp;British&nbsp;Airways&nbsp;and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes.

It was a reduction, however, on the company's net loss of 1.68 billion euros in the first three months of 2020 as Covid took off, IAG said in an earnings statement.

It added that group revenue collapsed 79 per cent to 968 million euros in the first quarter of this year.

Passenger numbers dived 87 per cent compared to a year earlier at the company that owns also Spanish airline Iberia and Ireland's Aer Lingus.

"We're doing everything in our power to emerge in a stronger competitive position," IAG chief executive Luis Gallego said in the earnings statement.

Its earnings update came a day after rival Air France-KLM posted a net loss totalling 1.5 billion euros for the first quarter.

International travel

IAG said it would not be providing 2021 profit guidance "given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19".

Britain's government is Friday set to reveal which foreign destinations people can fly to without quarantining.

The UK has set a date of May 17 to relaunch international travel using a "traffic-light" system.

Travel destinations will be ranked green, amber or red according to virus risk, according to the government led by Prime Minister Boris Johnson.

International travel to and from the UK is banned except for a handful of permitted reasons. This has created massive pent-up demand for summer holidays abroad.

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"We're absolutely confident that a safe re-start to travel can happen as shown by the scientific data," Gallego added in the earnings statement.

"We're ready to fly, but government action is needed."

He called for "travel corridors without restrictions between countries with successful vaccination rollouts and effective testing such as the UK and the US".

Gallego added there needed to be affordable and simple testing, well-staffed borders and digital passes for testing and vaccination documentation.

"These measures will enable a safe re-opening of our skies," the IAG boss said.&nbsp;

"There's a high level of pent-up demand and aviation will play a critical role in reconnecting people and getting economies back up and running again."

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Owing to Covid fallout, IAG has axed around 10,000 jobs at&nbsp;British&nbsp;Airways, or one quarter of the carrier's workforce and has cut 500 positions at Aer Lingus.

IAG meanwhile plunged into a record annual net loss of 6.9 billion euros in 2020.

IAG, owner of British Airways and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes.

IAG, owner of British Airways and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes. It was a reduction, however, on the company's net loss of 1.68 billion euros in the first three months of 2020 as Covid took off, IAG said in an earnings statement. It added that group revenue collapsed 79 per cent to 968 million euros in the first quarter of this year. Passenger numbers dived 87 per cent compared to a year earlier at the company that owns also Spanish airline Iberia and Ireland's Aer Lingus. "We're doing everything in our power to emerge in a stronger competitive position," IAG chief executive Luis Gallego said in the earnings statement. Its earnings update came a day after rival Air France-KLM posted a net loss totalling 1.5 billion euros for the first quarter. International travel IAG said it would not be providing 2021 profit guidance "given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19". Britain's government is Friday set to reveal which foreign destinations people can fly to without quarantining. The UK has set a date of May 17 to relaunch international travel using a "traffic-light" system. Travel destinations will be ranked green, amber or red according to virus risk, according to the government led by Prime Minister Boris Johnson. International travel to and from the UK is banned except for a handful of permitted reasons. This has created massive pent-up demand for summer holidays abroad. "We're absolutely confident that a safe re-start to travel can happen as shown by the scientific data," Gallego added in the earnings statement. "We're ready to fly, but government action is needed." He called for "travel corridors without restrictions between countries with successful vaccination rollouts and effective testing such as the UK and the US". Gallego added there needed to be affordable and simple testing, well-staffed borders and digital passes for testing and vaccination documentation. "These measures will enable a safe re-opening of our skies," the IAG boss said. "There's a high level of pent-up demand and aviation will play a critical role in reconnecting people and getting economies back up and running again." Also read | US Treasury starts distributing $15 billion in payroll aid to airlines Owing to Covid fallout, IAG has axed around 10,000 jobs at British Airways, or one quarter of the carrier's workforce and has cut 500 positions at Aer Lingus. IAG meanwhile plunged into a record annual net loss of 6.9 billion euros in 2020.

British Airlines parent IAG loss tops 1 billion Euros in first quarter

The&nbsp;EU&nbsp;and&nbsp;India&nbsp;were set to bolster warming ties at a virtual summit Saturday by relaunching long-stalled trade talks and agreeing to work together against the coronavirus pandemic battering the south Asian giant.

The devastating wave of infections sweeping&nbsp;India&nbsp;has already impacted the meeting by forcing Prime Minister Narendra Modi to scrap plans to fly to Portugal to see his European counterparts. &nbsp;

But the 27-nation bloc and the world's largest democracy remain determined to capitalise on growing momentum for tighter relations fuelled by shared concerns over the rising might of China.

"I am positive that we will be able to do a major step forward because between the&nbsp;EU&nbsp;and&nbsp;India&nbsp;there is a close relationship, but also a lot of untapped potential," European Commission President Ursula von der Leyen said as&nbsp;EU&nbsp;leaders gathered in Porto.

"The most untapped potential is in trade and investment."

EU&nbsp;countries have sent medical equipment and drugs worth an estimated 100 million euros ($120 million) to&nbsp;India&nbsp;as part of international efforts to help it fight against the flood of COVID-19 cases.

The focus on the virus at the summit will be on making sure the two vaccine-producing powerhouses can maintain global supplies and monitoring the spread of variants, as well as on trying to plan together to tackle future pandemics.

"We obviously need to work together to continue our efforts to ramp up production, secure the necessary raw materials, and keep supply chains open," a senior&nbsp;EU&nbsp;official said.&nbsp;

"Leaders are going to commit to working together, to better prepare for and respond to global health emergencies, and this clearly includes strengthening and reforming the World Health Organization."

Von der Leyen said the two sides would agree on a "common platform" on sequencing the Covid-19 virus to help keep track of any new variants that may emerge.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/push-on-social-issues-as-eu-faces-covid-fallout-383556">Push on social issues as EU faces Covid fallout</a>

Waiving patents&nbsp;

Modi could also push the&nbsp;EU&nbsp;on waiving patents for COVID-19 jabs after the US threw its weight behind the proposal.

European Council chief Charles Michel said the bloc was willing to discuss the initiative once a concrete proposal was "on the table", but leaders have expressed scepticism about lifting patents.&nbsp;

While the <a href="https://www.wionews.com/topics/coronavirus">pandemic</a> casts a long shadow over the summit, the key announcement is the restarting of talks on a free trade agreement that have been suspended since 2013.

Von der Leyen said talks would restart on a trade pact and begin on separate deals to protect investments and regionally-specific&nbsp;products.&nbsp;

She said that the two sides would also look to cooperate on developing cutting edge technologies including Artificial Intelligence and supercomputers.&nbsp;

Negotiations on the trade deal were halted eight years ago after getting stuck on issues including cutting tariffs and access for Indian workers to Europe.&nbsp;

'Elephant in the room'&nbsp;

It remains to be seen if&nbsp;India&nbsp;is now willing to drop an approach viewed as deeply protectionist by the&nbsp;EU&nbsp;to seal a deal this time around.

"It won't be easy or quick to reach," an official from the bloc told AFP.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/crucial-india-eu-summit-india-european-union-to-hold-key-virtual-trade-talks-383655/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

But growing tensions with China could create a new impetus for talks, with one diplomat calling Beijing "the elephant in the room".

For the&nbsp;EU, the push to restart negotiations comes as efforts to ratify an investment deal agreed with China that hit the buffers after relations soured over tit-for-tat sanctions.

"India&nbsp;for its part has also decided to invest more in its relations with the&nbsp;EU, driven in part by China's growing assertiveness and Brexit, requiring New Delhi to no longer see London as its sole entry point into&nbsp;'Europe',"&nbsp;EU&nbsp;foreign policy chief Josep Borrell wrote in a blog post.

Britain's departure from the bloc has also created another rival for Brussels as London makes its own play to bolster trade ties with&nbsp;India.

The British government said Tuesday it would start formal free talks with&nbsp;India&nbsp;later this year after the two sides agreed on an initial package to boost trade and investment.

The EU and India were set to bolster warming ties at a virtual summit Saturday by relaunching long-stalled trade talks and agreeing to work together against the coronavirus pandemic battering the south Asian giant.

The EU and India were set to bolster warming ties at a virtual summit Saturday by relaunching long-stalled trade talks and agreeing to work together against the coronavirus pandemic battering the south Asian giant. The devastating wave of infections sweeping India has already impacted the meeting by forcing Prime Minister Narendra Modi to scrap plans to fly to Portugal to see his European counterparts. But the 27-nation bloc and the world's largest democracy remain determined to capitalise on growing momentum for tighter relations fuelled by shared concerns over the rising might of China. "I am positive that we will be able to do a major step forward because between the EU and India there is a close relationship, but also a lot of untapped potential," European Commission President Ursula von der Leyen said as EU leaders gathered in Porto. "The most untapped potential is in trade and investment." EU countries have sent medical equipment and drugs worth an estimated 100 million euros ($120 million) to India as part of international efforts to help it fight against the flood of COVID-19 cases. The focus on the virus at the summit will be on making sure the two vaccine-producing powerhouses can maintain global supplies and monitoring the spread of variants, as well as on trying to plan together to tackle future pandemics. "We obviously need to work together to continue our efforts to ramp up production, secure the necessary raw materials, and keep supply chains open," a senior EU official said. "Leaders are going to commit to working together, to better prepare for and respond to global health emergencies, and this clearly includes strengthening and reforming the World Health Organization." Von der Leyen said the two sides would agree on a "common platform" on sequencing the Covid-19 virus to help keep track of any new variants that may emerge. Also read | Push on social issues as EU faces Covid fallout Waiving patents Modi could also push the EU on waiving patents for COVID-19 jabs after the US threw its weight behind the proposal. European Council chief Charles Michel said the bloc was willing to discuss the initiative once a concrete proposal was "on the table", but leaders have expressed scepticism about lifting patents. While the pandemic casts a long shadow over the summit, the key announcement is the restarting of talks on a free trade agreement that have been suspended since 2013. Von der Leyen said talks would restart on a trade pact and begin on separate deals to protect investments and regionally-specific products. She said that the two sides would also look to cooperate on developing cutting edge technologies including Artificial Intelligence and supercomputers. Negotiations on the trade deal were halted eight years ago after getting stuck on issues including cutting tariffs and access for Indian workers to Europe. 'Elephant in the room' It remains to be seen if India is now willing to drop an approach viewed as deeply protectionist by the EU to seal a deal this time around. "It won't be easy or quick to reach," an official from the bloc told AFP. But growing tensions with China could create a new impetus for talks, with one diplomat calling Beijing "the elephant in the room". For the EU, the push to restart negotiations comes as efforts to ratify an investment deal agreed with China that hit the buffers after relations soured over tit-for-tat sanctions. "India for its part has also decided to invest more in its relations with the EU, driven in part by China's growing assertiveness and Brexit, requiring New Delhi to no longer see London as its sole entry point into 'Europe'," EU foreign policy chief Josep Borrell wrote in a blog post. Britain's departure from the bloc has also created another rival for Brussels as London makes its own play to bolster trade ties with India. The British government said Tuesday it would start formal free talks with India later this year after the two sides agreed on an initial package to boost trade and investment.

EU and India relaunch trade quest at COVID-hit summit