'Already tired of his 9-to-5': Baby born with a moustache becomes internet sensation, video goes viral | Watch

Watched Manoj Bajpayee’s Gajab Raat on Netflix? 5 movies and TV shows to watch next on OTT

Chorbagan stampede: A week later, the strangest visarjan Kolkata has seen

‘Saddam Hussein opened a cheesecake factory’: Obama mocks Trump’s White House renovations; defends Abdul El-Sayed

Tu Hai Meri Kiran film review: Sonakshi Sinha and Zaheer Iqbal's thriller gets tangled in its own twists

Bodies of 2 missing Japanese climbers recovered from Himalayan peak

'You’re a horrible little reporter, aren’t you?': Trump snaps at NBC reporter questioning his support for Ramaswamy's campaign ad

PL Round-Up: Man City's perfect run ended by Villa as Arsenal draw level at top

Rising Asia Cup 2026 schedule announced, India-Pakistan clash set for Nov 22

Britain is building the world's first AI biosecurity lab, with OpenAI and Anthropic inside

China's dancing robot turns violent bodyguard, lifts cars and fights intruders - Watch

France protests: Clashes erupt between police and protesters in Paris as nearly 410,000 take to streets across country

AI slop or smart strategy? South African author Coral Hart defends Her 370 AI- assisted books in 20 months

Chemical warehouse explosion in Mexico: Several injured in multiple blasts, 1,000 evacuated in León

New Friday OTT releases (October 23, 2026): Gajab Raat, Dorothy, Chaar Yaar- Watch these 6 new movies and TV shows on Netflix, Prime Video and more

Viral video shows cross falling on Colombia priest, no official confirmation | WATCH

Farooq Abdullah says Pakistan’s raising of Kashmir issue keeps pressure on Delhi

Saudi says debris fell in Mecca, Medina after missile interceptions; Houthis deny targeting holy cities

French Open: PV Sindhu storms into final with win over Hina Akechi

AI just found a flaw in software running most of the web! One request hijacks the server

Train crashes into crane on São Paulo monorail line, wreckage falls onto busy road | VIDEO

Pakistan airline PIA unveils new crew uniforms, faces online criticism

Hitler’s ‘Eagle’s Nest’ mountain retreat wrecked by fire, suspect detained: What to know about the Nazi-era site

US midterm elections 2026: Minnesota heads to polls in the shadow of Minneapolis ICE shootings

Tu Hai Meri Kiran box office: Sonakshi Sinha and Zaheer Iqbal's film fails to take off, mints Rs 15 Lakh on day 1

Can Putin cheat death? All about his daughter’s billion-dollar quest for immortality

Trump invokes Operation Sindoor at US midterm rally, claims 250% tariffs stopped India-Pakistan war

An AI that reads your face can now estimate how long you have to live

Frontier AIs keep escaping their test cages! The industry still can't reliably stop them

Pezeshkian says Iranians ‘struggling to put food on the table’ as war with US drags on

Horrific video shows the moment 18-year-old fell to her death from Mexico amusement park ride

Scientists make digital nose that can sniff and send scents over the internet

US Midterms 2026: Dead for years, paedophile Jeffrey Epstein finds mention in over 500 campaign ads; Texas alone spent $10 million

Why Europe’s protests are about more than austerity and rising costs

Albania protests enter 12th day as students clash with police, demand Rama's exit

France protests: 135 arrested, weapons seized as fresh demonstrations erupt amid heavy security

VECV has bought the Volvo bus operations. They will cover the manufacture, assembly, distribution, and sale of the Volvo Buses in India, and other rights forming part of the business.

VECV acquires Volvo bus operations: Volvo bus employees to be absorbed

China on Friday said it will launch a digital currency pilot program in some cities.

In an online statement, the Chinese commerce ministry said the cities would include northern Chinese region of Beijing-Tianjin-Hebei, the eastern region of Yangtze River Delta, "Greater Bay Area" around the Pearl River Delta, and some cities in Midwestern China.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/opinions-blogs/the-race-for-national-digital-currency-is-gaining-momentum-is-india-lagging-behind-299893">The race for national digital currency is gaining momentum, is India lagging behind?</a>

China's state-run media reported earlier this month that major government-run commercial banks were carrying out large-scale internal testing for a digital wallet application.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-passes-cryptography-law-to-gears-up-for-digital-currency-258334">China passes cryptography law to gear up for digital currency</a>

The four banks that are conducting these testings are Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China, and if these tests are successful, China will become world's country to have a sovereign digital currency.&nbsp;

China's push towards digital currency will strengthen it's already dominant digital payments infrastructure, which according to The Brookings Institute, is more advanced than many of its Western counterparts.

Meanwhile, Switzerland-based Bank for International Settlements conducted a survey in 2019 that found that as many as 80 per cent of the world's central banks have shown interest in the idea of developing a sovereign digital currency.&nbsp;

The G7 nations are mulling over a collective move on central bank-sponsored digital currencies.&nbsp;

China on Friday said it will launch a digital currency pilot program in some cities. In an online statement, the Chinese commerce ministry said the cities would include northern Chinese region of Beijing-Tianjin-Hebei, the eastern region of Yangtze River Delta, "Greater Bay Area" around the Pearl River Delta, and some cities in Midwestern China.

China on Friday said it will launch a digital currency pilot program in some cities. In an online statement, the Chinese commerce ministry said the cities would include northern Chinese region of Beijing-Tianjin-Hebei, the eastern region of Yangtze River Delta, "Greater Bay Area" around the Pearl River Delta, and some cities in Midwestern China. Also read | The race for national digital currency is gaining momentum, is India lagging behind? China's state-run media reported earlier this month that major government-run commercial banks were carrying out large-scale internal testing for a digital wallet application. Also read | China passes cryptography law to gear up for digital currency The four banks that are conducting these testings are Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China, and if these tests are successful, China will become world's country to have a sovereign digital currency. China's push towards digital currency will strengthen it's already dominant digital payments infrastructure, which according to The Brookings Institute, is more advanced than many of its Western counterparts. Meanwhile, Switzerland-based Bank for International Settlements conducted a survey in 2019 that found that as many as 80 per cent of the world's central banks have shown interest in the idea of developing a sovereign digital currency. The G7 nations are mulling over a collective move on central bank-sponsored digital currencies.

China to launch pilot digital currency program in some cities

Domestic stock market equities rose on Friday, led by gains in metal and bank stocks, as hopes of more stimulus to shore up an economy reeling from the fallout of the covid-19 pandemic boosted sentiment.

The S&amp;P BSE Sensex added 180 points at 38,490 levels and the Nifty50 index hovered around the 11,350-mark. Reliance Industries, Larsen &amp; Toubro, and Sun Pharma (all up 1%) were the top Sensex gainers.

Indian stocks have been hovering around five-month highs after a rare six-day winning streak, while small-cap shares have risen enough to clock a gain in 2020, rallies that many analysts say does not reflect the economic reality.

As an unabated rise in coronavirus cases further dims the economic outlook, some investors are hopeful of further government measures to revive growth, analysts said.

(With inputs from agencies)

Domestic stock market equities rose on Friday, led by gains in metal and bank stocks, as hopes of more stimulus to shore up an economy reeling from the fallout of the covid-19 pandemic boosted sentiment.

Domestic stock market equities rose on Friday, led by gains in metal and bank stocks, as hopes of more stimulus to shore up an economy reeling from the fallout of the covid-19 pandemic boosted sentiment. The S&P BSE Sensex added 180 points at 38,490 levels and the Nifty50 index hovered around the 11,350-mark. Reliance Industries, Larsen & Toubro, and Sun Pharma (all up 1%) were the top Sensex gainers. Indian stocks have been hovering around five-month highs after a rare six-day winning streak, while small-cap shares have risen enough to clock a gain in 2020, rallies that many analysts say does not reflect the economic reality. As an unabated rise in coronavirus cases further dims the economic outlook, some investors are hopeful of further government measures to revive growth, analysts said. (With inputs from agencies)

Sensex up 180 points; metals, pharma stocks rally

Benchmark indices are trading higher supported by the IT and metal stocks. Hindalco, JSW Steel, Wipro, TCS and Adani Ports are among major gainers on the Nifty.

Sensex was trading higher at around 38,450 mark and the Nifty50 index hovered around 11,350. Titan (up 2%) was the top Sensex gainer, followed by Kotak Mahindra Bank, UltraTech Cement, and Larsen &amp; Toubro (all up 1% each). On the other hand, Bharti Airtel dipped over 4 per cent in early deals before recovering

Meanwhile, Indian rupee opened flat at 74.82 per dollar against Wednesday's close of 74.82, amid buying witnessing in the domestic equity market. 
 
(With inputs from agencies)

Benchmark indices are trading higher supported by the IT and metal stocks. Hindalco, JSW Steel, Wipro, TCS and Adani Ports are among major gainers on the Nifty. Sensex was trading higher at around 38,450 mark and the Nifty50 index hovered around 11,350.

Benchmark indices are trading higher supported by the IT and metal stocks. Hindalco, JSW Steel, Wipro, TCS and Adani Ports are among major gainers on the Nifty. Sensex was trading higher at around 38,450 mark and the Nifty50 index hovered around 11,350. Titan (up 2%) was the top Sensex gainer, followed by Kotak Mahindra Bank, UltraTech Cement, and Larsen & Toubro (all up 1% each). On the other hand, Bharti Airtel dipped over 4 per cent in early deals before recovering Meanwhile, Indian rupee opened flat at 74.82 per dollar against Wednesday's close of 74.82, amid buying witnessing in the domestic equity market. (With inputs from agencies)

Sensex, Nifty in the green; broader indices outperform

In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation.&nbsp;

Zomato founder and CEO Deepinder Goyal said female and transgender staff would be entitled to one day of leave for each menstrual cycle.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/zomato-employees-burn-official-t-shirts-over-chinese-investment-in-food-start-up-309349#:~:text=As%20the%20anti%2DChina%20sentiment,Chinese%20investment%20in%20the%20company.">Zomato employees burn official t-shirts over Chinese investment in food start-up</a>

"There shouldn't be any shame or stigma attached to applying for a period leave. You should feel free to tell people on internal groups, or emails that you are on your period leave for the day," said Goyal in an email reply that was shared publicly by Zomato.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/marico-ties-up-with-swiggy-zomato-to-deliver-goods-during-lockdown-290473">Marico ties up with Swiggy, Zomato to deliver goods during lockdown</a>

Urging people who faced "unnecessary harassment" or "distasteful comments" for taking offs during the period to speak up, Zomato founder said women need to be supported to build a "collaborative culture".

"I know that menstrual cramps are very painful for a lot of women — and we have to support them through it if we want to build a truly collaborative culture at Zomato," Goyal said.

Menstruation remains largely a taboo subject in India, where women experience a lot of difficulties, including lack of hygiene and awareness.

The situation is vulnerable in rural parts where access and the of use of sanitary napkins is not very common.&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

 
&nbsp;

In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation.

In a bid to tackle "stigma" around the issue, Indian restaurant aggregator and food delivery company Zomato has allowed women employees to take leaves up to 10 days in a year for menstruation. Zomato founder and CEO Deepinder Goyal said female and transgender staff would be entitled to one day of leave for each menstrual cycle. Also read | Zomato employees burn official t-shirts over Chinese investment in food start-up "There shouldn't be any shame or stigma attached to applying for a period leave. You should feel free to tell people on internal groups, or emails that you are on your period leave for the day," said Goyal in an email reply that was shared publicly by Zomato. Also read | Marico ties up with Swiggy, Zomato to deliver goods during lockdown Urging people who faced "unnecessary harassment" or "distasteful comments" for taking offs during the period to speak up, Zomato founder said women need to be supported to build a "collaborative culture". "I know that menstrual cramps are very painful for a lot of women — and we have to support them through it if we want to build a truly collaborative culture at Zomato," Goyal said. Menstruation remains largely a taboo subject in India, where women experience a lot of difficulties, including lack of hygiene and awareness. The situation is vulnerable in rural parts where access and the of use of sanitary napkins is not very common.

Zomato starts period leaves in bid to tackle 'stigma'

China has extended anti-dumping tariffs on Indian Fiber Optic Products. Tariffs to last for five years.

China puts tariff on Fiber Optic product made in India

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model.

"The emphasis is on making every rule-law, policy people-centric, and public friendly. This is the use of the new governance model and the country is getting its results," he said while speaking at the launch of a platform for "Transparent Taxation-Honoring the Honest".&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/FacelessAsssessment?src=hash&amp;ref_src=twsrc%5Etfw">#FacelessAsssessment</a> has benefits like making tax assessment fair,transparent,ensuring ease of compliance &amp; improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious &amp; efficient disposal.(5/7)<a href="https://twitter.com/hashtag/HonoringTheHonest?src=hash&amp;ref_src=twsrc%5Etfw">#HonoringTheHonest</a> <a href="https://t.co/zVo4De8V5Q">pic.twitter.com/zVo4De8V5Q</a>
— Ministry of Finance (@FinMinIndia) <a href="https://twitter.com/FinMinIndia/status/1293797398024605696?ref_src=twsrc%5Etfw">August 13, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The Prime Minister said that the new tax system is going to become faceless and this will give a belief of fairness and fearlessness to taxpayers.&nbsp;

"The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said.&nbsp;

"The platform has major reforms like faceless assessment, faceless appeal and taxpayers’ charter. Faceless assessment and taxpayers charter has come into force from today. The facility of faceless appeal will be available for citizens from September 25 on the birth anniversary of Pt Deen Dayal Upadhaya," he added.&nbsp;

"Now the tax system is going to become faceless but this will give believe to fairness and fearlessness to taxpayers. In the last 6 years, our focus was banking the unbank, securing the unsecured, funding the unfunded," said Modi.&nbsp;

"A new journey is beginning today honouring the honest. Country`s honest taxpayers play an important role in nation-building. New facilities beginning from today establishes our commitment to minimum government and maximum governance," he added.&nbsp;

Meanwhile, Union Finance Minister Nirmala Sitharaman said that the initiative is a landmark in the history of tax administration.

"The Prime Minister`s vision is to empower taxpayers, to provide a transparent system and to honour the honest taxpayer. To realise this vision, CBDT has given a framework and put in a place a system in the form of this platform," she said.&nbsp;

"A transparent, efficient and accountable tax administration is what this platform brings it. It uses technology, data analytic and also uses artificial intelligence. It eases compliance burden, brings fair, objective and just system," the Minister added.&nbsp;

According to a release of the Prime Minister`s Office (PMO), the Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in recent years.

Last year, the corporate tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution tax was also abolished.The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws.&nbsp;

Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department. This includes bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number.

Similarly, to increase the ease of compliance for taxpayers, IT Department has moved forward with the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified.

With a view to provide for the resolution of pending tax disputes the IT Department also brought out the Direct Tax "Vivad se Vishwas Act, 2020" under which declarations for settling disputes are being filed currently.&nbsp;

To effectively reduce taxpayer grievances/litigation, the monetary thresholds for filing of departmental appeals in various appellate Courts have been raised.Several measures have been taken to promote digital transactions and electronic modes of payment.&nbsp;

The IT department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during the COVID times by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers.

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model.

Prime Minister Narendra Modi on Thursday emphasised the role of tax compliance in nation-building and said the government is following a policy-driven governance model. "The emphasis is on making every rule-law, policy people-centric, and public friendly. This is the use of the new governance model and the country is getting its results," he said while speaking at the launch of a platform for "Transparent Taxation-Honoring the Honest". #FacelessAsssessment has benefits like making tax assessment fair,transparent,ensuring ease of compliance & improved quality of assessment. No more physical interface. No more visits to IT office.Reply to be filed online. Expeditious & efficient disposal.(5/7)#HonoringTheHonest pic.twitter.com/zVo4De8V5Q — Ministry of Finance (@FinMinIndia) August 13, 2020 × The Prime Minister said that the new tax system is going to become faceless and this will give a belief of fairness and fearlessness to taxpayers. "The trend of structural reforms in the country has reached a new stage today. Transparent Taxation - Honoring the Honest, this new system of the 21st-century tax system has been launched today," he said. "The platform has major reforms like faceless assessment, faceless appeal and taxpayers’ charter. Faceless assessment and taxpayers charter has come into force from today. The facility of faceless appeal will be available for citizens from September 25 on the birth anniversary of Pt Deen Dayal Upadhaya," he added. "Now the tax system is going to become faceless but this will give believe to fairness and fearlessness to taxpayers. In the last 6 years, our focus was banking the unbank, securing the unsecured, funding the unfunded," said Modi. "A new journey is beginning today honouring the honest. Country`s honest taxpayers play an important role in nation-building. New facilities beginning from today establishes our commitment to minimum government and maximum governance," he added. Meanwhile, Union Finance Minister Nirmala Sitharaman said that the initiative is a landmark in the history of tax administration. "The Prime Minister`s vision is to empower taxpayers, to provide a transparent system and to honour the honest taxpayer. To realise this vision, CBDT has given a framework and put in a place a system in the form of this platform," she said. "A transparent, efficient and accountable tax administration is what this platform brings it. It uses technology, data analytic and also uses artificial intelligence. It eases compliance burden, brings fair, objective and just system," the Minister added. According to a release of the Prime Minister`s Office (PMO), the Central Board of Direct Taxes (CBDT) has carried out several major tax reforms in direct taxes in recent years. Last year, the corporate tax rates were reduced from 30 per cent to 22 per cent and for new manufacturing units, the rates were reduced to 15 per cent. Dividend distribution tax was also abolished.The focus of the tax reforms has been on reduction in tax rates and on simplification of direct tax laws. Several initiatives have been taken by the CBDT for bringing in efficiency and transparency in the functioning of the IT Department. This includes bringing more transparency in official communication through the newly introduced Document Identification Number (DIN) wherein every communication of the Department would carry a computer generated unique document identification number. Similarly, to increase the ease of compliance for taxpayers, IT Department has moved forward with the prefilling of income tax returns to make compliance more convenient for individual taxpayers. Compliance norms for startups have also been simplified. With a view to provide for the resolution of pending tax disputes the IT Department also brought out the Direct Tax "Vivad se Vishwas Act, 2020" under which declarations for settling disputes are being filed currently. To effectively reduce taxpayer grievances/litigation, the monetary thresholds for filing of departmental appeals in various appellate Courts have been raised.Several measures have been taken to promote digital transactions and electronic modes of payment. The IT department is committed to take the initiatives forward and has also made efforts to ease compliances for taxpayers during the COVID times by extending statutory timeliness for filing returns as also releasing refunds expeditiously to increase liquidity in the hands of taxpayers.

Faceless assessment, taxpayer charter has come into force from today: PM Modi

Domestic stock market shares fell and the Nifty snapped six straight sessions of gains on Wednesday, as metal and private sector banks lost ground, with rising coronavirus cases dampening investor sentiment.

Sensex dipped 260 points to 38,140 levels and the Nifty50 index hovered around 11,250-mark. Bajaj Finance (down 2%), Bajaj Finserv and Axis Bank (down 1%) were the top Sensex laggards. Besides, heavyweights HDFC Bank and Reliance Industries also slipped more than 1 per cent each in early deals.

In Mumbai trading, the Nifty private banking index slipped nearly 1% and the Nifty metal index fell more than 1.5% in early trading.

Meanwhile, coronavirus cases in India jumped by 53,601 to nearly 2.27 million as of Tuesday morning, including 45,257 deaths. 
&nbsp; 
(With input from agencies)

Domestic stock market shares fell and the Nifty snapped six straight sessions of gains on Wednesday, as metal and private sector banks lost ground, with rising coronavirus cases dampening investor sentiment.

Domestic stock market shares fell and the Nifty snapped six straight sessions of gains on Wednesday, as metal and private sector banks lost ground, with rising coronavirus cases dampening investor sentiment. Sensex dipped 260 points to 38,140 levels and the Nifty50 index hovered around 11,250-mark. Bajaj Finance (down 2%), Bajaj Finserv and Axis Bank (down 1%) were the top Sensex laggards. Besides, heavyweights HDFC Bank and Reliance Industries also slipped more than 1 per cent each in early deals. In Mumbai trading, the Nifty private banking index slipped nearly 1% and the Nifty metal index fell more than 1.5% in early trading. Meanwhile, coronavirus cases in India jumped by 53,601 to nearly 2.27 million as of Tuesday morning, including 45,257 deaths. (With input from agencies)

Sensex falls 200 points; financials, metal stocks decline

As coronavirus pandemic has hit the aviation world hard globally. Plane makers are witnessing a surge in order cancellation. Talking about US-based plane maker Boeing. Its customers have canceled more than 400 orders. Watch report.

Boeing woes continue: Boeing 737 max deliveries drop as crisis continues

Shrinking for 4 months in a row India's industrial output has fallen 16.6 % in June. Though the monthly measure indicated some recovery in coronavirus hit the sector. Watch report.

India starting at an economic slowdown as industrial output shrinks | India News

Led by coronavirus induced lockdowns India's fuel demand has fallen 10.8% in July. Sales of Gasoline or petrol were 10% lower from last year. Watch report.

India's fuel demand fell 10.8% in July: Gasoline sales down 10.2%

Domestic stock markets rose and the Nifty gained for a sixth straight session on Tuesday as gains in ICICI Bank Ltd following the launch of a share sale put market fears over rising coronavirus cases on the back burner.

The S&amp;P BSE climbed 338 points to 38,520 levels and the Nifty50 index topped the 11,350-mark.

Private-sector lender ICICI Bank rose as much as 2.27% to a more than 2-week high and was the top gainer on the Nifty after it set floor price of 351.36 rupees per share for its qualified institutional placement.

The Nifty private banking index advanced over 1% in early trading.

Among the major asian markets, the Japanese Nikkei 225 index shot up 1.75 per cent, South Korean Kospi roared 1.66 per cent, Hong Kong's Hang Seng skyrocketed2.44 per cent while the Shanghai index added 0.33 per cent in the opening bell trade session.

At the Wall Street yesterday, Dow Jones rose 1.30 per cent, Nasdaq shed 0.39 per cent, SmallCap 2000 rose 1.03 per cent while S&amp;P 500 added 0.27 per cent.

(With inputs from agencies)

Domestic stock markets rose and the Nifty gained for a sixth straight session on Tuesday as gains in ICICI Bank Ltd following the launch of a share sale put market fears over rising coronavirus cases on the back burner.

Domestic stock markets rose and the Nifty gained for a sixth straight session on Tuesday as gains in ICICI Bank Ltd following the launch of a share sale put market fears over rising coronavirus cases on the back burner. The S&P BSE climbed 338 points to 38,520 levels and the Nifty50 index topped the 11,350-mark. Private-sector lender ICICI Bank rose as much as 2.27% to a more than 2-week high and was the top gainer on the Nifty after it set floor price of 351.36 rupees per share for its qualified institutional placement. The Nifty private banking index advanced over 1% in early trading. Among the major asian markets, the Japanese Nikkei 225 index shot up 1.75 per cent, South Korean Kospi roared 1.66 per cent, Hong Kong's Hang Seng skyrocketed2.44 per cent while the Shanghai index added 0.33 per cent in the opening bell trade session. At the Wall Street yesterday, Dow Jones rose 1.30 per cent, Nasdaq shed 0.39 per cent, SmallCap 2000 rose 1.03 per cent while S&P 500 added 0.27 per cent. (With inputs from agencies)

Sensex rises 300 points, Nifty rise on strong global sentiments

It is the world's largest recession in history. HSBC's profits has plummeted 96 per cent to $192 million in April to June period.

HSBC expects total losses of upto $13 billion by the end of the year. The bank has said it will shed 35,000 jobs to focus more on Asia&nbsp;where it gets most of its business but&nbsp;Hong Kong and China remain a geopolitical sore point. 
&nbsp; 
Europe's second-largest insurer AXA has had no insurance against the pandemic. In the first six months of the year, the French insurance giant posted profits of $1.7 billion, down from $2.33 billion posted over the same period last year. Coronavirus-related property and casualty claims have deeply hurt the insurance industry.

Energy giant BP is fighting an existential crisis as the pandemic batters oil prices. The UK-based oil firm has reported a loss of $17 billion for the April to June period. Almost every part of the business was hit very hard due to lower demand during the pandemic.

German auto major BMW has gone into a tailspin. The luxury carmaker has posted a loss of nearly $800 million in the second quarter which is the worst in a decade as sales slumped 25 per cent during the lockdown period. More cars are being sold in China, but not enough to make up for sales lost due to the pandemic.

As air travel remains a health hazard most of Lufthansa's fleet is still grounded. The airline has suffered a $2 billion loss in the previous quarter. In June unable to keep up its operations anymore Lufthansa received a government bailout of $10 billion. Now, the airline like its competitors is planning to carry out massive lay-offs.

The state of airlines is indicative of what's happening in the tourism and hospitality industry. Hilton says it will be a long time before its rooms are full again. The world's second-largest hotel operator has posted a loss of $430 million in the June quarter. Hilton is planning to fire 2,000 employees.&nbsp;

Disneyland is without its rambunctious crowd which is reflective in its parent firm &nbsp;Walt Disney company's earnings. Over the last three months, the entertainment company has lost $5 billion which is a rare loss for a company that thrived on its movies, theme parks, resorts and cruise operations until the pandemic struck.

McDonald's global sales have slipped by 24 per cent in the previous quarter with operations limited to drive-thru and delivery services with 96 per cent of the company's stores operating on this model.&nbsp;

Luxury fashion house Prada has closed 70 per cent of its stores due to the pandemic since the virus outbreak the company has lost $1 billion. However, a rising e-commerce trade and reopening of some of its stores in the Asia-pacific region may cushion the fall but the rich jet-setting patrons will not step into Prada's stores anytime soon. 
&nbsp; 
The pandemic has shown De Beers that diamonds are not forever. Diamond production dropped by more than 50 per cent in the last quarter mainly due to lockdowns in South Africa as a result sales collapsed by over $1 billion.

It is the world's largest recession in history. HSBC's profits has plummeted 96 per cent to $192 million in April to June period. HSBC expects total losses of upto $13 billion by the end of the year.

It is the world's largest recession in history. HSBC's profits has plummeted 96 per cent to $192 million in April to June period. HSBC expects total losses of upto $13 billion by the end of the year. The bank has said it will shed 35,000 jobs to focus more on Asia where it gets most of its business but Hong Kong and China remain a geopolitical sore point. Europe's second-largest insurer AXA has had no insurance against the pandemic. In the first six months of the year, the French insurance giant posted profits of $1.7 billion, down from $2.33 billion posted over the same period last year. Coronavirus-related property and casualty claims have deeply hurt the insurance industry. Energy giant BP is fighting an existential crisis as the pandemic batters oil prices. The UK-based oil firm has reported a loss of $17 billion for the April to June period. Almost every part of the business was hit very hard due to lower demand during the pandemic. German auto major BMW has gone into a tailspin. The luxury carmaker has posted a loss of nearly $800 million in the second quarter which is the worst in a decade as sales slumped 25 per cent during the lockdown period. More cars are being sold in China, but not enough to make up for sales lost due to the pandemic. As air travel remains a health hazard most of Lufthansa's fleet is still grounded. The airline has suffered a $2 billion loss in the previous quarter. In June unable to keep up its operations anymore Lufthansa received a government bailout of $10 billion. Now, the airline like its competitors is planning to carry out massive lay-offs. The state of airlines is indicative of what's happening in the tourism and hospitality industry. Hilton says it will be a long time before its rooms are full again. The world's second-largest hotel operator has posted a loss of $430 million in the June quarter. Hilton is planning to fire 2,000 employees. Disneyland is without its rambunctious crowd which is reflective in its parent firm Walt Disney company's earnings. Over the last three months, the entertainment company has lost $5 billion which is a rare loss for a company that thrived on its movies, theme parks, resorts and cruise operations until the pandemic struck. McDonald's global sales have slipped by 24 per cent in the previous quarter with operations limited to drive-thru and delivery services with 96 per cent of the company's stores operating on this model. Luxury fashion house Prada has closed 70 per cent of its stores due to the pandemic since the virus outbreak the company has lost $1 billion. However, a rising e-commerce trade and reopening of some of its stores in the Asia-pacific region may cushion the fall but the rich jet-setting patrons will not step into Prada's stores anytime soon. The pandemic has shown De Beers that diamonds are not forever. Diamond production dropped by more than 50 per cent in the last quarter mainly due to lockdowns in South Africa as a result sales collapsed by over $1 billion.

Banks, insurance, airlines, tourism battered amid coronavirus pandemic

Flagging fears that the country's GDP growth may even touch its lowest since independence in the backdrop of coronavirus pandemic, Infosys founder N R Narayana Murthy on Tuesday said the economy should be brought back on track and people should be prepared to live with the pathogen.

He also pitched for developing a new system that should allow every player in every sector of the country's economy to operate at full steam with suitable precautions.

"India's GDP is expected to shrink by at least five per cent. There is a fear that we may even reach the lowest GDP (growth) since independence, since 1947," Murthy said.

The software icon was participating in a discussion on 'Leading India's Digital Revolution' during the 16th edition of Institute of Engineering and Technology's India Digital Conversations held virtually.

"The global GDP has gone down. Global trade has shrunk, global travel has almost disappeared. The global GDP is likely to shrink between 5 per cent and 10 per cent," he said.

Murthy said that right from the first day of the national lockdown on March 24 his view had been that people have to be prepared to live with the virus for three reasons -- there is no vaccine, no cure for coronavirus and the economy cannot be brought to a halt.

The earliest possible vaccine was from Oxford University, which may be available in the country anywhere from six to nine months, he said.

"But even if we are able to vaccinate 10 million people a day, it is going to take 140 days to vaccinate all the Indians. That is a long period to prevent the spread of the disease," Murthy said.

"...We cannot make the economy come to a halt. Over all, 140 million workers have been affected by this virus. So the smartness is in defining a new normal. This normal should allow our economy to grow while moving on the earth and fighting the virus," the tech leader said.

Stressing on developing a new system to deal with the current situation, he also laid emphasis on creating a health infrastructure for vaccinating everybody once a vaccine was available and working towards a cure for the new virus.

"India has traditionally not invested sufficiently in public health. We have severe shortage both in talent and in material for a robust public health system. The state of our Institute of Public Health is a good data point," said Murthy.

In the given system, Murthy said, social distancing, and use of masks were the best way to combat the virus.

He, however, lauded the country for having done a decent job under the present circumstances.

To bring the economy back on track, the Infosys founder suggested getting back the 140 million migrant workers who have gone back to their villages to their workplaces, mostly in urban India.

His second advice was increasing the number of hospital beds and adding equipment for testing and taking care of the projected number of COVID-19 patients for three months and six months from now.

"Even today there is a severe shortage of COVID-19 care facilities in second tier and third tier towns," said Murthy lamenting the demise of one of his relatives due to coronavirus in Hubballi, a north Karnataka tier-2 city and district headquarters.

The 74-year-old tech leader also favoured amending laws and providing infrastructural facilities for companies which cannot use the work-from-home paradigm and increasing the public transport and public safety facilities for businesses and the public to operate 24 hours.

Flagging fears that the country's GDP growth may even touch its lowest since independence in the backdrop of coronavirus pandemic, Infosys founder N R Narayana Murthy on Tuesday said the economy should be brought back on track and people should be prepared to live with the pathogen.

Flagging fears that the country's GDP growth may even touch its lowest since independence in the backdrop of coronavirus pandemic, Infosys founder N R Narayana Murthy on Tuesday said the economy should be brought back on track and people should be prepared to live with the pathogen. He also pitched for developing a new system that should allow every player in every sector of the country's economy to operate at full steam with suitable precautions. "India's GDP is expected to shrink by at least five per cent. There is a fear that we may even reach the lowest GDP (growth) since independence, since 1947," Murthy said. The software icon was participating in a discussion on 'Leading India's Digital Revolution' during the 16th edition of Institute of Engineering and Technology's India Digital Conversations held virtually. "The global GDP has gone down. Global trade has shrunk, global travel has almost disappeared. The global GDP is likely to shrink between 5 per cent and 10 per cent," he said. Murthy said that right from the first day of the national lockdown on March 24 his view had been that people have to be prepared to live with the virus for three reasons -- there is no vaccine, no cure for coronavirus and the economy cannot be brought to a halt. The earliest possible vaccine was from Oxford University, which may be available in the country anywhere from six to nine months, he said. "But even if we are able to vaccinate 10 million people a day, it is going to take 140 days to vaccinate all the Indians. That is a long period to prevent the spread of the disease," Murthy said. "...We cannot make the economy come to a halt. Over all, 140 million workers have been affected by this virus. So the smartness is in defining a new normal. This normal should allow our economy to grow while moving on the earth and fighting the virus," the tech leader said. Stressing on developing a new system to deal with the current situation, he also laid emphasis on creating a health infrastructure for vaccinating everybody once a vaccine was available and working towards a cure for the new virus. "India has traditionally not invested sufficiently in public health. We have severe shortage both in talent and in material for a robust public health system. The state of our Institute of Public Health is a good data point," said Murthy. In the given system, Murthy said, social distancing, and use of masks were the best way to combat the virus. He, however, lauded the country for having done a decent job under the present circumstances. To bring the economy back on track, the Infosys founder suggested getting back the 140 million migrant workers who have gone back to their villages to their workplaces, mostly in urban India. His second advice was increasing the number of hospital beds and adding equipment for testing and taking care of the projected number of COVID-19 patients for three months and six months from now. "Even today there is a severe shortage of COVID-19 care facilities in second tier and third tier towns," said Murthy lamenting the demise of one of his relatives due to coronavirus in Hubballi, a north Karnataka tier-2 city and district headquarters. The 74-year-old tech leader also favoured amending laws and providing infrastructural facilities for companies which cannot use the work-from-home paradigm and increasing the public transport and public safety facilities for businesses and the public to operate 24 hours.

Narayana Murthy flags fears of GDP growth hitting lowest since 1947, pitches for operating economy at full steam

WION app has come a long way ever since its launch and is now the highest-rated news app in India, with a stellar rating of 4.9 out of 5. The app has undergone facelifts and tweaks to achieve this feat, keeping in mind the changing landscape for news delivery on mobile phones.

In a cluttered news app landscape in India, WION stands out with its new and interactive features, global news coverage, 24x7 live streaming,&nbsp;and&nbsp;constantly striving to strike a balance between the text and the visual.

Improving user experience has been the driving factor for the app development, which has resulted in the app being rated 4.9 on a 5-point scale on Google Play Store, ahead of its rivals.

Some of WION's closest rivals are rated as follows: BBC News App has scored a 4.5 rating, Al Jazeera English stands at 4.1, and CNN News has a rating of 4.1.&nbsp;

Mobile apps have become the preferred source of news on digital platforms and WION has created a huge buzz with its user-friendly design and navigation along with various features like personalisation, offline reading, text size, etc.

With wide and comprehensive news coverage from across the world through an Indian lens with in-depth analysis, videos, live streaming and photo galleries, WION app has become the go-to destination for those seeking a consistent and daily dose of news on mobile phones.

With faster news updates, comprehensive coverage of the pertinent issues, quick news alerts, the editorial team behind the WION app has been working with the single-minded determination to provide the latest and the best news to its readers.

Video consumption has gained prominence and WION App has laid special emphasis on ensuring a smooth integration and experience for the viewers.

The WION app has always been open to suggestions from every user. We have imbibed new features that were on demand by users to provide a better user experience, and we don’t intend to stop!

WION app has come a long way ever since its launch and is now the highest-rated news app in India, with a stellar rating of 4.9 out of 5. The app has undergone facelifts and tweaks to achieve this feat, keeping in mind the changing landscape for news delivery on mobile phones.

WION app has come a long way ever since its launch and is now the highest-rated news app in India, with a stellar rating of 4.9 out of 5. The app has undergone facelifts and tweaks to achieve this feat, keeping in mind the changing landscape for news delivery on mobile phones. In a cluttered news app landscape in India, WION stands out with its new and interactive features, global news coverage, 24x7 live streaming, and constantly striving to strike a balance between the text and the visual. Improving user experience has been the driving factor for the app development, which has resulted in the app being rated 4.9 on a 5-point scale on Google Play Store, ahead of its rivals. Some of WION's closest rivals are rated as follows: BBC News App has scored a 4.5 rating, Al Jazeera English stands at 4.1, and CNN News has a rating of 4.1. Mobile apps have become the preferred source of news on digital platforms and WION has created a huge buzz with its user-friendly design and navigation along with various features like personalisation, offline reading, text size, etc. With wide and comprehensive news coverage from across the world through an Indian lens with in-depth analysis, videos, live streaming and photo galleries, WION app has become the go-to destination for those seeking a consistent and daily dose of news on mobile phones. With faster news updates, comprehensive coverage of the pertinent issues, quick news alerts, the editorial team behind the WION app has been working with the single-minded determination to provide the latest and the best news to its readers. Video consumption has gained prominence and WION App has laid special emphasis on ensuring a smooth integration and experience for the viewers. The WION app has always been open to suggestions from every user. We have imbibed new features that were on demand by users to provide a better user experience, and we don’t intend to stop!

WION becomes the highest-rated news app in India with 4.9 on a 5-point scale on Google Play Store

Trouble is growing for India's low-cost air carrier Go Air as it has been put on cash and carrier model. Watch report.

Go India asked to clear daily dues: Move reflects a cash crunch

Domestic benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&amp;T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets.

The BSE Sensex was trading 317.68 points or 0.84 per cent higher at 38,358.25; while the NSE Nifty was up 92.05 points or 0.82 per cent at 11,306.10.

Meanwhile, Divi's Laboratories surged 15 per cent after the announcement of its June quarter results.

The Nifty sectoral indices were trading in the green, led by Nifty Pharma index, up 2 per cent.

(With inputs from agecnies)

Domestic benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets.

Domestic benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets. The BSE Sensex was trading 317.68 points or 0.84 per cent higher at 38,358.25; while the NSE Nifty was up 92.05 points or 0.82 per cent at 11,306.10. Meanwhile, Divi's Laboratories surged 15 per cent after the announcement of its June quarter results. The Nifty sectoral indices were trading in the green, led by Nifty Pharma index, up 2 per cent. (With inputs from agecnies)

Sensex climbs 300 points, Nifty tops 11,300

State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest oil exporter.

But the company stuck with plans to pay $75 billion in dividends this year and CEO Amin Nasser said global oil demand was recovering.

Also read |&nbsp;<a href="https://www.wionews.com/world/grounded-mauritius-ship-operator-apologises-for-oil-leak-319226">Grounded Mauritius ship operator apologises for oil leak</a>

All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel, which reduced oil consumption and sent prices tumbling to levels not seen in nearly two decades.

Aramco, which listed in Riyadh last year in a record $29.4 billion flotation, said the rapid spread of COVID-19 globally had significantly reduced demand for crude oil, natural gas and petroleum products.

Nasser told reporters he had seen a partial recovery in the energy market and a pick up in demand as economies gradually open after the easing of coronavirus lockdowns.

"Look at China, their gasoline and diesel demand is almost at pre-COVID 19 levels. We are seeing that Asia is picking up and other markets (too)," he told reporters after announcing the company's quarterly results.

"As countries ease the lockdown, we expect the demand to increase."

Nasser said Aramco was committed to its 2020 dividend.

"We intend to pay the $75 billion, subject to board approval and market conditions," he said.

The group's dividends play a critical role in helping the Saudi government to manage its fiscal deficit.

Aramco reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range.

Net profit fell to 24.6 billion riyals ($6.57 billion) for the quarter to June 30 from 92.6 billion riyals a year earlier.

Analysts had expected net profit of 31.3 billion riyals, according to the mean estimate from three analysts, provided by Refinitiv.

"Aramco figures are healthy compared to other global peers," Mazen al-Sudairi, head of research at Al Rajhi Capital, said. "This was the worst quarter in the modern history of oil industry, and surviving it with healthy figures points to a very positive outlook."

Aramco shares were up about 0.4% in early trade. The group is currently the world's second most valuable publicly traded company after Apple.

Aramco said it will pay a dividend of $18.75 billion for the second quarter of this year, in line with plans for a $75 billion dividend for 2020.

BP earlier this month cut its dividend for the first time in a decade after a record second-quarter loss, while Royal Dutch Shell in April cut its dividend for the first time since World War Two.

Aramco's free cash flow stood at $6.1 billion in the second quarter and $21.1 billion for the first half of 2020, respectively, compared with $20.6 billion and $38.0 billion for the same periods in 2019.

Aramco's gearing ratio was 20.1% at the end of June, mainly reflecting the deferred consideration for the acquisition of Saudi Basic Industries Corp and the consolidation of SABIC’s net debt on to Aramco’s balance sheet.

State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest oil exporter.

State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest oil exporter. But the company stuck with plans to pay $75 billion in dividends this year and CEO Amin Nasser said global oil demand was recovering. Also read | Grounded Mauritius ship operator apologises for oil leak All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel, which reduced oil consumption and sent prices tumbling to levels not seen in nearly two decades. Aramco, which listed in Riyadh last year in a record $29.4 billion flotation, said the rapid spread of COVID-19 globally had significantly reduced demand for crude oil, natural gas and petroleum products. Nasser told reporters he had seen a partial recovery in the energy market and a pick up in demand as economies gradually open after the easing of coronavirus lockdowns. "Look at China, their gasoline and diesel demand is almost at pre-COVID 19 levels. We are seeing that Asia is picking up and other markets (too)," he told reporters after announcing the company's quarterly results. "As countries ease the lockdown, we expect the demand to increase." Nasser said Aramco was committed to its 2020 dividend. "We intend to pay the $75 billion, subject to board approval and market conditions," he said. The group's dividends play a critical role in helping the Saudi government to manage its fiscal deficit. Aramco reported a 73.4% fall in second-quarter net profit, a steeper drop than analysts had forecast, and said it expected capital expenditure for 2020 to be at the lower end of a $25 billion to $30 billion range. Net profit fell to 24.6 billion riyals ($6.57 billion) for the quarter to June 30 from 92.6 billion riyals a year earlier. Analysts had expected net profit of 31.3 billion riyals, according to the mean estimate from three analysts, provided by Refinitiv. "Aramco figures are healthy compared to other global peers," Mazen al-Sudairi, head of research at Al Rajhi Capital, said. "This was the worst quarter in the modern history of oil industry, and surviving it with healthy figures points to a very positive outlook." Aramco shares were up about 0.4% in early trade. The group is currently the world's second most valuable publicly traded company after Apple. Aramco said it will pay a dividend of $18.75 billion for the second quarter of this year, in line with plans for a $75 billion dividend for 2020. BP earlier this month cut its dividend for the first time in a decade after a record second-quarter loss, while Royal Dutch Shell in April cut its dividend for the first time since World War Two. Aramco's free cash flow stood at $6.1 billion in the second quarter and $21.1 billion for the first half of 2020, respectively, compared with $20.6 billion and $38.0 billion for the same periods in 2019. Aramco's gearing ratio was 20.1% at the end of June, mainly reflecting the deferred consideration for the acquisition of Saudi Basic Industries Corp and the consolidation of SABIC’s net debt on to Aramco’s balance sheet.

Saudi Aramco's profit plunges, sees signs of oil market recovery

The Asian shares made a cautious start today morning as investors kept an eye on flaring tensions between US and China. Watch report

Asian Shares | Australian shares recover Friday's losses

Benchmark indices erased some of its intraday gains buy still trading higher supported by the pharma, bank, and auto and infra stocks.&nbsp;

Among the benchmark indices, the S&amp;P BSE Sensex rose 250 points to 38,280 levels and the Nifty50 index hovered around the 11,300 mark. Mahindra &amp; Mahindra (up 6%) and Larsen &amp; Toubro (up 5%) were the top Sensex gainers. Meanwhile, Divi's Laboratories surged 15 per cent after the announcement of its June quarter results.

The Nifty sectoral indices were trading in the green, led by Nifty Pharma index, up 5 per cent.

Meanwhile, Rupee ended at 74.90 per US dollar vs Friday's close of 74.93/$. 
 
(With inputs from agencies)

Benchmark indices erased some of its intraday gains buy still trading higher supported by the pharma, bank, and auto and infra stocks. Among the benchmark indices, the S&P BSE Sensex rose 250 points to 38,280 levels and the Nifty50 index hovered around the 11,300 mark.

Benchmark indices erased some of its intraday gains buy still trading higher supported by the pharma, bank, and auto and infra stocks. Among the benchmark indices, the S&P BSE Sensex rose 250 points to 38,280 levels and the Nifty50 index hovered around the 11,300 mark. Mahindra & Mahindra (up 6%) and Larsen & Toubro (up 5%) were the top Sensex gainers. Meanwhile, Divi's Laboratories surged 15 per cent after the announcement of its June quarter results. The Nifty sectoral indices were trading in the green, led by Nifty Pharma index, up 5 per cent. Meanwhile, Rupee ended at 74.90 per US dollar vs Friday's close of 74.93/$. (With inputs from agencies)

Indices trade higher: Sensex holds gains, up 250 points

US employment growth slowed considerably in July,&nbsp;though not as badly as feared, amid a resurgence in new Covid-19 infections, offering the clearest evidence yet that the economy’s recovery from the recession caused by the coronavirus pandemic was faltering.

Nonfarm payrolls increased by 1.763 million jobs last month after a record 4.791 million in June, the Labor Department said on Friday (Aug 8). Economists polled by Reuters had forecast 1.6 million jobs were added in July.

The unemployment rate fell to 10.2 per cent from 11.1 per cent in June, but it has been biased downward by people misclassifying themselves as being “employed but absent from work.” At least 31.3 million people were receiving unemployment checks in mid-July.

“The steam has gone out of the engine and the economy is beginning to slow,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “The loss of momentum will continue and my concern is that the combination of the virus resurgence and lack of action by Congress could really push employment into negative territory.”

The labour market step-back is more bad news for President Donald Trump, who is lagging in opinion polls behind former Vice President Joe Biden, the presumptive Democratic Party nominee for the Nov 3 election.

It also piles up pressure on the White House and Congress to speed up negotiations on a second aid package, which have been dragging over differences on major issues including the size of a government benefit for tens of millions of unemployed workers.

A US$600 (S$822) weekly unemployment benefit supplement expired last Friday, while thousands of businesses have burned through loans offered by the government to help with wages.

The economy, which entered into recession in February, suffered its biggest blow since the Great Depression in the second quarter, with gross domestic product dropping at its steepest pace in at least 73 years.

Virus infections soared across the country last month, forcing authorities in some of the worst affected areas in the West and South to either shut down businesses again or pause reopenings, sending workers back home. Demand for goods and services has suffered.

The slowdown in hiring challenges the US stock market’s expectation of a V-shaped recovery. The S&amp;P 500 index is up nearly 50 per cent from its March trough. As Covid-19 cases spiral, and Republicans and Democrats bicker over another stimulus package, economists see a W-shaped recovery.

Economists estimate the Paycheck Protection Program that gave businesses loans that can be partially forgiven if used for employee pay saved around 1.3 million jobs at its peak. The extra US$600 weekly unemployment checks made up 20 per cent of personal income and helped to boost consumer spending in May and June.

US employment growth slowed considerably in July, though not as badly as feared, amid a resurgence in new Covid-19 infections, offering the clearest evidence yet that the economy’s recovery from the recession caused by the coronavirus pandemic was faltering.

US employment growth slowed considerably in July, though not as badly as feared, amid a resurgence in new Covid-19 infections, offering the clearest evidence yet that the economy’s recovery from the recession caused by the coronavirus pandemic was faltering. Nonfarm payrolls increased by 1.763 million jobs last month after a record 4.791 million in June, the Labor Department said on Friday (Aug 8). Economists polled by Reuters had forecast 1.6 million jobs were added in July. The unemployment rate fell to 10.2 per cent from 11.1 per cent in June, but it has been biased downward by people misclassifying themselves as being “employed but absent from work.” At least 31.3 million people were receiving unemployment checks in mid-July. “The steam has gone out of the engine and the economy is beginning to slow,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “The loss of momentum will continue and my concern is that the combination of the virus resurgence and lack of action by Congress could really push employment into negative territory.” The labour market step-back is more bad news for President Donald Trump, who is lagging in opinion polls behind former Vice President Joe Biden, the presumptive Democratic Party nominee for the Nov 3 election. It also piles up pressure on the White House and Congress to speed up negotiations on a second aid package, which have been dragging over differences on major issues including the size of a government benefit for tens of millions of unemployed workers. A US$600 (S$822) weekly unemployment benefit supplement expired last Friday, while thousands of businesses have burned through loans offered by the government to help with wages. The economy, which entered into recession in February, suffered its biggest blow since the Great Depression in the second quarter, with gross domestic product dropping at its steepest pace in at least 73 years. Virus infections soared across the country last month, forcing authorities in some of the worst affected areas in the West and South to either shut down businesses again or pause reopenings, sending workers back home. Demand for goods and services has suffered. The slowdown in hiring challenges the US stock market’s expectation of a V-shaped recovery. The S&P 500 index is up nearly 50 per cent from its March trough. As Covid-19 cases spiral, and Republicans and Democrats bicker over another stimulus package, economists see a W-shaped recovery. Economists estimate the Paycheck Protection Program that gave businesses loans that can be partially forgiven if used for employee pay saved around 1.3 million jobs at its peak. The extra US$600 weekly unemployment checks made up 20 per cent of personal income and helped to boost consumer spending in May and June.

US job growth slows sharply in July amid coronavirus resurgence

Facebook stocks leapt over six per cent on Thursday as the social networking giant launched Instagram's new feature Reels helping founder Mark Zuckerberg's net worth to surge to $100 billion.

<a href="https://www.wionews.com/world/mark-zuckerberg-suggests-google-and-apple-are-bigger-threats-than-facebook-316907">Also Read: Mark Zuckerberg suggests Google and Apple are bigger threats than Facebook</a>

The social networking site had launched Reels in America on Wednesday pitching it as a competitor to TikTok which has been involved a battle with the Trump administration over its continuation in the US amid espionage allegation by the US government.

Watch:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/twitter-facebook-remove-trumps-video-over-false-claim-about-children-and-covid-19-318517/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Zuckerberg who holds 13 per cent stake in the company has joined Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos in the $100 billion club.

Zuckerberg aims to create a short video platform with Reels pitching it as a substitute for TikTok in America. Facebook had earlier created a platform named Lasso two years ago but it had failed to compete with TikTok which was enjoying huge popularity among users at that time.

Facebook shares have been on the rise for the past week rising over 13 per cent amid buoyant quarterly report on July 30. Facebook had said it had made a profit of $5.2 billion on $18.7 billion in revenue in the recent quarter amid the coronavirus pandemic. The users in the platform also grew rising to a high of 2.7 billion.

"This was a strong quarter for us, especially compared to what we expected at the start," Zuckerberg had said while announcing the results. The Facebook chief also informed that the user base of WhatsApp and Messenger each month topped three billion.

On the pandemic, Zuckerberg said: "Imagine going through this pandemic two decades ago when the internet was nascent Facebook didn't even exist."

Facebook stocks leapt over six per cent on Thursday as the social networking giant launched Instagram's new feature Reels helping founder Mark Zuckerberg's net worth to surge to $100 billion.

Facebook stocks leapt over six per cent on Thursday as the social networking giant launched Instagram's new feature Reels helping founder Mark Zuckerberg's net worth to surge to $100 billion. Also Read: Mark Zuckerberg suggests Google and Apple are bigger threats than Facebook The social networking site had launched Reels in America on Wednesday pitching it as a competitor to TikTok which has been involved a battle with the Trump administration over its continuation in the US amid espionage allegation by the US government. Watch: Zuckerberg who holds 13 per cent stake in the company has joined Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos in the $100 billion club. Zuckerberg aims to create a short video platform with Reels pitching it as a substitute for TikTok in America. Facebook had earlier created a platform named Lasso two years ago but it had failed to compete with TikTok which was enjoying huge popularity among users at that time. Facebook shares have been on the rise for the past week rising over 13 per cent amid buoyant quarterly report on July 30. Facebook had said it had made a profit of $5.2 billion on $18.7 billion in revenue in the recent quarter amid the coronavirus pandemic. The users in the platform also grew rising to a high of 2.7 billion. "This was a strong quarter for us, especially compared to what we expected at the start," Zuckerberg had said while announcing the results. The Facebook chief also informed that the user base of WhatsApp and Messenger each month topped three billion. On the pandemic, Zuckerberg said: "Imagine going through this pandemic two decades ago when the internet was nascent Facebook didn't even exist."

Zuckerberg's net worth zooms to $100 billion amid launch of Instagram Reels; joins Gates, Bezos in elite club

The customers of Uber Technologies Inc more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from when it hit the rock-bottom.

The company said that despite those larger challenges it is sticking to its goal of being profitable on an adjusted basis before the end of 2021 thanks to stringent cost-cutting measures and a strong balance sheet. Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $837 million (636 million pounds) in the second quarter.

Shares were down 2.9% at $33.72 in after-hours trading.

Ride-hailing trips, in the past responsible for nearly two-thirds of Uber's revenue, increased 5 percentage points from their low in April, but gross bookings remained down 75% from last year.

In Hong Kong and New Zealand, ride bookings at times exceeded pre-COVID-19 levels, while trip requests in Germany, France and Spain have improved to just a 35% decline from a year ago.

The number of active platform users across the 69 countries in which Uber operates nearly halved year-over-year, from 99 million to 55 million.

Uber's second-quarter revenue fell 29% to $2.24 billion from the year prior, beating analysts' average estimate of $2.18 billion, according to IBES data from Refinitiv. 
Revenue at Uber Eats doubled to $1.2 billion, boosted by greater demand for delivery as Americans largely continue to stay home. Uber last month expanded its delivery reach by announcing the acquisition of Postmates Inc for $2.65 billion to expand the business of supplying everyday goods.

Uber's ride-hailing segment remained battered by the coronavirus crisis, with revenue from the United States and Canada, its largest combined market, declining $1.25 billion. Nevertheless, ride-hailing was the only segment generating an adjusted EBITDA profit, of $50 million.

Uber said fewer U.S. ride-hail drivers were returning to the platform compared with other countries. Uber faces several legal challenges over the status of its drivers in the United States, with California and Massachusetts suing the company over the alleged misclassification of drivers as independent contractors.

Uber Eats, whose gross bookings more than doubled, narrowed losses, recording a $232 million adjusted EBITDA loss in the second quarter.

The customers of Uber Technologies Inc more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from when it hit the rock-bottom.

The customers of Uber Technologies Inc more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from when it hit the rock-bottom. The company said that despite those larger challenges it is sticking to its goal of being profitable on an adjusted basis before the end of 2021 thanks to stringent cost-cutting measures and a strong balance sheet. Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $837 million (636 million pounds) in the second quarter. Shares were down 2.9% at $33.72 in after-hours trading. Ride-hailing trips, in the past responsible for nearly two-thirds of Uber's revenue, increased 5 percentage points from their low in April, but gross bookings remained down 75% from last year. In Hong Kong and New Zealand, ride bookings at times exceeded pre-COVID-19 levels, while trip requests in Germany, France and Spain have improved to just a 35% decline from a year ago. The number of active platform users across the 69 countries in which Uber operates nearly halved year-over-year, from 99 million to 55 million. Uber's second-quarter revenue fell 29% to $2.24 billion from the year prior, beating analysts' average estimate of $2.18 billion, according to IBES data from Refinitiv. Revenue at Uber Eats doubled to $1.2 billion, boosted by greater demand for delivery as Americans largely continue to stay home. Uber last month expanded its delivery reach by announcing the acquisition of Postmates Inc for $2.65 billion to expand the business of supplying everyday goods. Uber's ride-hailing segment remained battered by the coronavirus crisis, with revenue from the United States and Canada, its largest combined market, declining $1.25 billion. Nevertheless, ride-hailing was the only segment generating an adjusted EBITDA profit, of $50 million. Uber said fewer U.S. ride-hail drivers were returning to the platform compared with other countries. Uber faces several legal challenges over the status of its drivers in the United States, with California and Massachusetts suing the company over the alleged misclassification of drivers as independent contractors. Uber Eats, whose gross bookings more than doubled, narrowed losses, recording a $232 million adjusted EBITDA loss in the second quarter.

Uber rides take a hit during coronavirus pandemic but food-delivery business doubles

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China.

Spot gold came down to 0.2 per cent to $2,058.55 per ounce by 0945 GMT after witnessing a record high of $2,072.50 earlier today.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/chennai-passengers-smuggle-gold-via-relief-flights-221kg-gold-seized-318400">Chennai: Passengers smuggle gold via relief flights; 2.21Kg gold seized</a>

It has gained 4 per cent so far this week, which is its ninth consecutive weekly gain.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/nia-team-to-fly-to-uae-to-investigate-kerala-gold-smuggling-case-318115">NIA team to fly to UAE to investigate Kerala gold Smuggling case</a>

US gold futures was trading at $2,070.20.

"We'll see some pullback (in gold) from these levels with USD bottoming for a while and maybe even see some strength in the USD in the near term, which will reverse these gains but not entirely," said Spencer Campbell, director at SE Asia Consulting Pte Ltd, reported news agency Reuters.

"People will be looking to re-enter the market on any pullbacks in precious metals as the medium to longer term views are significantly higher."

The dollar bounced back from a two-year low following US President Donald Trump's decision to ban US transactions with two Chinese apps.&nbsp;

"The dollar's performance has a major say on how much runway gold bulls are accorded," said FXTM market analyst Han Tan.

Gold has jumped over 35 per cent this year amid surging COVID-19 cases that have adversely affected economies and led to unprecedented stimulus measures across the globe.

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China.

After registering a record peak in early trade on Friday, Gold's rally paused as the dollar found some relief from investors who are concerned over tensed ties between the United States and China. Spot gold came down to 0.2 per cent to $2,058.55 per ounce by 0945 GMT after witnessing a record high of $2,072.50 earlier today. Also read | Chennai: Passengers smuggle gold via relief flights; 2.21Kg gold seized It has gained 4 per cent so far this week, which is its ninth consecutive weekly gain. Also read | NIA team to fly to UAE to investigate Kerala gold Smuggling case US gold futures was trading at $2,070.20. "We'll see some pullback (in gold) from these levels with USD bottoming for a while and maybe even see some strength in the USD in the near term, which will reverse these gains but not entirely," said Spencer Campbell, director at SE Asia Consulting Pte Ltd, reported news agency Reuters. "People will be looking to re-enter the market on any pullbacks in precious metals as the medium to longer term views are significantly higher." The dollar bounced back from a two-year low following US President Donald Trump's decision to ban US transactions with two Chinese apps. "The dollar's performance has a major say on how much runway gold bulls are accorded," said FXTM market analyst Han Tan. Gold has jumped over 35 per cent this year amid surging COVID-19 cases that have adversely affected economies and led to unprecedented stimulus measures across the globe.

Gold eases off after witnessing record high

Lufthansa put German workers on notice of compulsory lay-offs on Thursday, saying tumbling air travel and slow progress in union negotiations meant cuts were unavoidable after it lost 1.7 billion euros ($2 billion) in a single quarter.

Lufthansa plans compulsory lay-offs as forecasts travel slump to 2024

The Reserve Bank of India(RBI) today announced that key rates will remain unchanged.

The RBI kept repo rate unchanged at 4 per cent.&nbsp;RBI governor Shaktikanta Das declared that reverse repo rate also remains unchanged at 3.3 per cent.

<a href="https://www.wionews.com/opinions-blogs/cooperative-banks-now-subject-to-regulation-by-reserve-bank-of-india-317300">Also Read:&nbsp;Cooperative banks now subject to regulation by Reserve Bank of India</a>

While making the announcement, RBI governor Shaktikanta Das said that global financial markets remain buoyant, although he added that exports have contracted for the fourth straight month in June.

India's central bank said that the country's forex reserves are up by $56.8 billion, however it added that GDP growth will remain negative in the first half of the current year.

"For the year 2020-21 as a whole, real GDP growth is also estimated to be negative," it said.

The RBI governor added that although economic activity had picked up however due to fresh surge of coronavirus and lockdowns, several high-frequency indicators had levelled off.

"With coronavirus infections rising under fragile micro-economic and financial conditions, we propose to take regulatory and developmental measures including enhancing liquidity support for financial markets, ease financial stress caused by the virus while strengthening credit discipline," Shaktikanta Das stated.

The Reserve Bank of India(RBI) today announced that key rates will remain unchanged. The RBI kept repo rate unchanged at 4 per cent. RBI governor Shaktikanta Das declared that reverse repo rate also remains unchanged at 3.

The Reserve Bank of India(RBI) today announced that key rates will remain unchanged. The RBI kept repo rate unchanged at 4 per cent. RBI governor Shaktikanta Das declared that reverse repo rate also remains unchanged at 3.3 per cent. Also Read: Cooperative banks now subject to regulation by Reserve Bank of India While making the announcement, RBI governor Shaktikanta Das said that global financial markets remain buoyant, although he added that exports have contracted for the fourth straight month in June. India's central bank said that the country's forex reserves are up by $56.8 billion, however it added that GDP growth will remain negative in the first half of the current year. "For the year 2020-21 as a whole, real GDP growth is also estimated to be negative," it said. The RBI governor added that although economic activity had picked up however due to fresh surge of coronavirus and lockdowns, several high-frequency indicators had levelled off. "With coronavirus infections rising under fragile micro-economic and financial conditions, we propose to take regulatory and developmental measures including enhancing liquidity support for financial markets, ease financial stress caused by the virus while strengthening credit discipline," Shaktikanta Das stated.

Reserve Bank of India keeps key rates unchanged; exports contract for fourth straight month