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US&nbsp;stock markets were set to open flat to lower on Friday, putting both the S&amp;P 500 and Dow Jones Industrial Average on course for their biggest weekly losses in at least six years.

Stocks plunged 4 percent on Thursday, overturning gains a day earlier and adding to the sense that rises in US&nbsp;government bond yields have begun a major correction to nine years of almost uninterrupted gains for Wall Street.

Both the Dow Jones Industrial Average and the benchmark S&amp;P 500 index are down more than 10 per cent since hitting record highs on January 26, and Thursday was the second time this week that the Dow fell more than 1,000 points.

If the Dow ends the day lower, it is likely to make the week its worst since the height of the financial crisis in October 2008.

&quot;The fact that Monday&#39;s lows were breached signals more trouble ahead and rallies are likely to give way to rising bond yields,&quot; said Peter Cardillo, Chief market economist at First Standard Financial in New York.

By 8:06 a.m. ET (1306 GMT), Dow e-minis was down 114 points, S&amp;P 500 e-minis was down 6.25 points and Nasdaq 100 e-minis was up 17.25 points.

At the heart of the pullback has been a rise in US&nbsp;bond yields due to growing expectations that a robustly performing economy will lead to higher inflation and a steady rise in official interest rates over this year.

The danger for stock market investors is that means the Federal Reserve - and other major central banks - reining in the vast supplies of cheap funds they have pumped into the global economy since the 2008-09 financial crisis.&nbsp;

The yield on benchmark 10-year US&nbsp;Treasuries, which tends to be the driver of global borrowing costs, was hovering at 2.825 percent, dipping after US&nbsp;Congress approved a bill to end the federal shutdown, but still near a four-year high of 2.885 per cent hit during Monday&#39;s selloff.

The US&nbsp;House of Representatives early on Friday approved a bill to fund the federal government through March 23 and to increase overall spending limits over two years, sending the legislation to President Donald Trump.

Investors also point to additional pressure from the violent unwinding of trades linked to bets on volatility staying low.

The market&#39;s main gauge of volatility, the CBOE Volatility Index, was at a relatively elevated 32.25 on Friday, nearly three times what it was a week ago but lower than a two-and-a-half-year high of 50.30 points hit on Tuesday.

The downturn in equities had been long awaited by investors, after a period of strong and fast gains. The S&amp;P&#39;s correction is the fifth of this bull market, according to Yardeni Research. The last bear market was during the 2008 financial crisis.

&quot;We&#39;re cheap now, but it`s just a matter of much more cheaper we have to get to attract buyers,&quot; said Robert Pavlik, chief investment strategist at SlateStone Wealth.

World stocks were also on track for their worst week since 2011, knocked by a 4 per cent decline in Chinese stocks.&nbsp;

With Wall Street&#39;s quarterly earnings season more than half-way through, 78.3 percent of the S&amp;P 500 companies that have reported so far have beaten profit expectations, above the 72 per cent beat-rate in the past four quarters.

Chipmaker Nvidia was up about 9 per cent in premarket trading after its upbeat results and forecast.

Expedia shares sank 16 per cent after the online travel services company said costs would outpace revenue growth this year as it battles rivals for market share. 
&nbsp;

If the Dow ends the day lower, it is likely to make the week its worst

US stock markets were set to open flat to lower on Friday, putting both the S&P 500 and Dow Jones Industrial Average on course for their biggest weekly losses in at least six years. Stocks plunged 4 percent on Thursday, overturning gains a day earlier and adding to the sense that rises in US government bond yields have begun a major correction to nine years of almost uninterrupted gains for Wall Street. Both the Dow Jones Industrial Average and the benchmark S&P 500 index are down more than 10 per cent since hitting record highs on January 26, and Thursday was the second time this week that the Dow fell more than 1,000 points. If the Dow ends the day lower, it is likely to make the week its worst since the height of the financial crisis in October 2008. "The fact that Monday's lows were breached signals more trouble ahead and rallies are likely to give way to rising bond yields," said Peter Cardillo, Chief market economist at First Standard Financial in New York. By 8:06 a.m. ET (1306 GMT), Dow e-minis was down 114 points, S&P 500 e-minis was down 6.25 points and Nasdaq 100 e-minis was up 17.25 points. At the heart of the pullback has been a rise in US bond yields due to growing expectations that a robustly performing economy will lead to higher inflation and a steady rise in official interest rates over this year. The danger for stock market investors is that means the Federal Reserve - and other major central banks - reining in the vast supplies of cheap funds they have pumped into the global economy since the 2008-09 financial crisis. The yield on benchmark 10-year US Treasuries, which tends to be the driver of global borrowing costs, was hovering at 2.825 percent, dipping after US Congress approved a bill to end the federal shutdown, but still near a four-year high of 2.885 per cent hit during Monday's selloff. The US House of Representatives early on Friday approved a bill to fund the federal government through March 23 and to increase overall spending limits over two years, sending the legislation to President Donald Trump. Investors also point to additional pressure from the violent unwinding of trades linked to bets on volatility staying low. The market's main gauge of volatility, the CBOE Volatility Index, was at a relatively elevated 32.25 on Friday, nearly three times what it was a week ago but lower than a two-and-a-half-year high of 50.30 points hit on Tuesday. The downturn in equities had been long awaited by investors, after a period of strong and fast gains. The S&P's correction is the fifth of this bull market, according to Yardeni Research. The last bear market was during the 2008 financial crisis. "We're cheap now, but it`s just a matter of much more cheaper we have to get to attract buyers," said Robert Pavlik, chief investment strategist at SlateStone Wealth. World stocks were also on track for their worst week since 2011, knocked by a 4 per cent decline in Chinese stocks. With Wall Street's quarterly earnings season more than half-way through, 78.3 percent of the S&P 500 companies that have reported so far have beaten profit expectations, above the 72 per cent beat-rate in the past four quarters. Chipmaker Nvidia was up about 9 per cent in premarket trading after its upbeat results and forecast. Expedia shares sank 16 per cent after the online travel services company said costs would outpace revenue growth this year as it battles rivals for market share.

Wall Street on course for worst week in six years

Finance Minister Arun Jaitley said Thursday that India would become the world&#39;s fastest-growing economy in two years.&nbsp;

Jaitley, who was speaking in the Lok Sabha, was quoting from IMF data.&nbsp;

Jaitley also answered the question of why his goods and services tax has five slabs, one of the harshest criticisms of the GST:&nbsp;

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I went to Singapore. There they levy 7% GST on both Mercedes and food. Can this be done in India, a country where a large population lives below the poverty line? How can same tax slab be implemented on a luxurious item &amp; a necessity?: FM Arun Jaitley in Lok Sabha <a href="https://t.co/UBBSFNPzZO">pic.twitter.com/UBBSFNPzZO</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/961575641899511810?ref_src=twsrc%5Etfw">February 8, 2018</a></blockquote>
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Jaitley added that &quot;within a matter of months, we have been able to stabilise GST. We reduced rate with increase in revenue.&quot;&nbsp;

Jaitley that &quot;structural reform may pose momentary difficulty initially but in the long run it will prove to be beneficial.&quot;&nbsp;

This is something the government has been saying for a while -- that the &quot;disruptions&quot; of GST and demonetisation will bear fruit in the long run. &nbsp;

Jaitley, who was speaking in the Lok Sabha, was quoting from IMF data

Finance Minister Arun Jaitley said Thursday that India would become the world's fastest-growing economy in two years. Jaitley, who was speaking in the Lok Sabha, was quoting from IMF data. Jaitley also answered the question of why his goods and services tax has five slabs, one of the harshest criticisms of the GST: I went to Singapore. There they levy 7% GST on both Mercedes and food. Can this be done in India, a country where a large population lives below the poverty line? How can same tax slab be implemented on a luxurious item & a necessity?: FM Arun Jaitley in Lok Sabha pic.twitter.com/UBBSFNPzZO — ANI (@ANI) February 8, 2018 × Jaitley added that "within a matter of months, we have been able to stabilise GST. We reduced rate with increase in revenue." Jaitley that "structural reform may pose momentary difficulty initially but in the long run it will prove to be beneficial." This is something the government has been saying for a while -- that the "disruptions" of GST and demonetisation will bear fruit in the long run.

India to become fastest-growing major economy in two years: Jaitley

The Sensex gained 330.45 points Thursday to close at 34,413.16.&nbsp;

The Nifty also jumped 100.15 points to close at 10,576.85.&nbsp;

The stock markets have <a href="http://www.wionews.com/business-economy/day-after-budget-sensex-nifty-nosedive-31587" target="_blank">taken a hammering</a> in recent days -- the Sensex fell for for seven consecutive sessions -- Finance Minister Arun Jaitley announced a 10% long-term capital gains tax on the sale of shares.&nbsp;

Jaitley&#39;s raising of the fiscal deficit target to 3.3% from the earlier 3% added to the markets nosediving.&nbsp;

Thursday was the first day the Sensex gained rather than having dropped points at the closing bell.&nbsp;

The Nifty also jumped 100.15 points to close at 10,576

The Sensex gained 330.45 points Thursday to close at 34,413.16. The Nifty also jumped 100.15 points to close at 10,576.85. The stock markets have taken a hammering in recent days -- the Sensex fell for for seven consecutive sessions -- Finance Minister Arun Jaitley announced a 10% long-term capital gains tax on the sale of shares. Jaitley's raising of the fiscal deficit target to 3.3% from the earlier 3% added to the markets nosediving. Thursday was the first day the Sensex gained rather than having dropped points at the closing bell.

Sensex breaks 7-day losing streak, gains 330.45 points to close at 34,413

Just a few years ago, Uber Technologies Inc saw itself as the little brother to Alphabet Inc, but that cosy bond quickly dissolved into a turf war and ultimately a high-stakes legal battle, a jury heard on Wednesday.

Former Uber Chief Executive Travis Kalanick described how his own relationship with Alphabet Chief Executive Larry Page deteriorated as their companies competed in ride-hailing and autonomous car development, producing a tense rivalry that eventually led to a lawsuit and trial in San Francisco federal court.

Alphabet&#39;s self-driving car unit Waymo sued Uber, a year ago saying that former Waymo engineer Anthony Levandowski downloaded more than 14,000 confidential documents in 2015 before leaving to found a self-driving startup that Uber snapped up in 2016.

Waymo has estimated damages in the case at about $1.9 billion, which Uber rejects. Levandowski is not a defendant in the case.

Kalanick&#39;s testimony on Tuesday and Wednesday is a crucial part of the trial, which promises to influence one of the most important and potentially lucrative races in Silicon Valley - to create fleets of self-driving cars.

Kalanick&#39;s testimony showed the personal nature of the lawsuit, which is as much about big personalities at wealthy technology companies as it is about the technology itself. Uber was once a prized investment Alphabet, whose venture capital arm made a $258 million bet on Uber in 2013.

In Uber&#39;s early days, its relationship with Google was &quot;like a little brother to a big brother,&quot; Kalanick said under questioning in court, and Page and Alphabet executive David Drummond were like mentors to the less-seasoned Kalanick.

After Uber heard Alphabet was dabbling in ride-hailing services, Uber&#39;s business, Uber moved into self-driving cars, a project Alphabet had been working on since 2009. Uber hired away 40 experts from Carnegie Mellon University to set up a self-driving car lab in Pennsylvania, a move that upset Page.

&quot;He sort of was a little angsty and said &#39;Why are you doing my thing?&#39; and was just upset,&quot; Kalanick testified.

Uber&#39;s acquisition of Levandowski&#39;s startup, Otto, only added to the animosity, and days after the deal was announced, Drummond resigned his seat on Uber&#39;s board of directors. Recalling Page&#39;s raw feelings that surfaced with the Carnegie hires, Kalanick feared a lawsuit was coming.

&#39;Second Place Is First Loser&#39;

Although famous for his hot-headed temperament, Kalanick kept his cool on Wednesday and offered short, subdued responses to Waymo&#39;s attorneys, whose questions focused on Kalanick&#39;s competitive nature.

Kalanick was ousted from Uber in June after a tumultuous period of scandals and investigations. The Otto acquisition and Uber&#39;s self-driving car development happened under Kalanick&#39;s direction.

Kalanick has said self-driving cars are existential to Uber and was rankled that Uber was trailing Waymo. In court, Waymo attorney Charles Verhoeven showed Kalanick a text message in which Levandowski told Kalanick: &quot;I just see this as a race and we need to win. Second place is the first loser.&quot;

When asked if he agreed with that sentiment, Kalanick said: &quot;Well, I first heard it from my high school football coach, but yes.&quot;

Waymo sought to portray Kalanick as so eager to improve Uber&#39;s autonomous car business that he quickly acquired Otto and hired Levandowski without properly assessing the risks. He was frustrated by the slow pace of Uber&#39;s self-driving program, which trailed Waymo, and thought Levandowski could turn it around, the 10-person jury heard on Tuesday.

Kalanick said Wednesday that he never read a due diligence report prepared by an outside firm that determined Levandowski did possess Google data.

But in a deposition last year, Benchmark venture capitalist Bill Gurley, an early Uber investor and former board member, said Kalanick told the board the diligence report was &quot;clean.&quot; Kalanick denied having said that. Gurley also said Kalanick &quot;crossed a line of violating fraud and fiduciary duty&quot; with the Otto acquisition.

As part of the Otto deal, Uber agreed to indemnify Levandowski against any legal action, Kalanick said. He conceded that the legal battle makes hiring Levandowski &quot;not as great as what we thought it was at the beginning.&quot;

&#39;X Factor&#39;

Uber was not the only company interested in Levandowski - rival Lyft Inc also made an offer to buy Levandowski&#39;s self-driving startup, Lior Ron, Otto co-founder and an Uber executive, testified on Wednesday. Levandowski turned down the offer.

Kalanick was shown in court an email from another executive, which said the &quot;X factor&quot; of acquiring Levandowski&#39;s company was the &quot;IP in their heads.&quot;

Kalanick said he did not remember the email but did not deny reading it. When questioned by Uber&#39;s lawyer, Kalanick said that &quot;to no extent at all&quot; did he hire Levandowski to get trade secrets and Levandowski never told him he would bring Waymo&#39;s secrets to Uber.

The trial is expected to continue through next week. The jury will have to decide whether the documents downloaded by Levandowski were indeed trade secrets and not common knowledge and whether Uber improperly acquired them, used them and benefited from them.

Uber was once a prized investment for Alphabet, whose venture capital arm made a $258 million bet on Uber in 2013

Just a few years ago, Uber Technologies Inc saw itself as the little brother to Alphabet Inc, but that cosy bond quickly dissolved into a turf war and ultimately a high-stakes legal battle, a jury heard on Wednesday. Former Uber Chief Executive Travis Kalanick described how his own relationship with Alphabet Chief Executive Larry Page deteriorated as their companies competed in ride-hailing and autonomous car development, producing a tense rivalry that eventually led to a lawsuit and trial in San Francisco federal court. Alphabet's self-driving car unit Waymo sued Uber, a year ago saying that former Waymo engineer Anthony Levandowski downloaded more than 14,000 confidential documents in 2015 before leaving to found a self-driving startup that Uber snapped up in 2016. Waymo has estimated damages in the case at about $1.9 billion, which Uber rejects. Levandowski is not a defendant in the case. Kalanick's testimony on Tuesday and Wednesday is a crucial part of the trial, which promises to influence one of the most important and potentially lucrative races in Silicon Valley - to create fleets of self-driving cars. Kalanick's testimony showed the personal nature of the lawsuit, which is as much about big personalities at wealthy technology companies as it is about the technology itself. Uber was once a prized investment Alphabet, whose venture capital arm made a $258 million bet on Uber in 2013. In Uber's early days, its relationship with Google was "like a little brother to a big brother," Kalanick said under questioning in court, and Page and Alphabet executive David Drummond were like mentors to the less-seasoned Kalanick. After Uber heard Alphabet was dabbling in ride-hailing services, Uber's business, Uber moved into self-driving cars, a project Alphabet had been working on since 2009. Uber hired away 40 experts from Carnegie Mellon University to set up a self-driving car lab in Pennsylvania, a move that upset Page. "He sort of was a little angsty and said 'Why are you doing my thing?' and was just upset," Kalanick testified. Uber's acquisition of Levandowski's startup, Otto, only added to the animosity, and days after the deal was announced, Drummond resigned his seat on Uber's board of directors. Recalling Page's raw feelings that surfaced with the Carnegie hires, Kalanick feared a lawsuit was coming. 'Second Place Is First Loser' Although famous for his hot-headed temperament, Kalanick kept his cool on Wednesday and offered short, subdued responses to Waymo's attorneys, whose questions focused on Kalanick's competitive nature. Kalanick was ousted from Uber in June after a tumultuous period of scandals and investigations. The Otto acquisition and Uber's self-driving car development happened under Kalanick's direction. Kalanick has said self-driving cars are existential to Uber and was rankled that Uber was trailing Waymo. In court, Waymo attorney Charles Verhoeven showed Kalanick a text message in which Levandowski told Kalanick: "I just see this as a race and we need to win. Second place is the first loser." When asked if he agreed with that sentiment, Kalanick said: "Well, I first heard it from my high school football coach, but yes." Waymo sought to portray Kalanick as so eager to improve Uber's autonomous car business that he quickly acquired Otto and hired Levandowski without properly assessing the risks. He was frustrated by the slow pace of Uber's self-driving program, which trailed Waymo, and thought Levandowski could turn it around, the 10-person jury heard on Tuesday. Kalanick said Wednesday that he never read a due diligence report prepared by an outside firm that determined Levandowski did possess Google data. But in a deposition last year, Benchmark venture capitalist Bill Gurley, an early Uber investor and former board member, said Kalanick told the board the diligence report was "clean." Kalanick denied having said that. Gurley also said Kalanick "crossed a line of violating fraud and fiduciary duty" with the Otto acquisition. As part of the Otto deal, Uber agreed to indemnify Levandowski against any legal action, Kalanick said. He conceded that the legal battle makes hiring Levandowski "not as great as what we thought it was at the beginning." 'X Factor' Uber was not the only company interested in Levandowski - rival Lyft Inc also made an offer to buy Levandowski's self-driving startup, Lior Ron, Otto co-founder and an Uber executive, testified on Wednesday. Levandowski turned down the offer. Kalanick was shown in court an email from another executive, which said the "X factor" of acquiring Levandowski's company was the "IP in their heads." Kalanick said he did not remember the email but did not deny reading it. When questioned by Uber's lawyer, Kalanick said that "to no extent at all" did he hire Levandowski to get trade secrets and Levandowski never told him he would bring Waymo's secrets to Uber. The trial is expected to continue through next week. The jury will have to decide whether the documents downloaded by Levandowski were indeed trade secrets and not common knowledge and whether Uber improperly acquired them, used them and benefited from them.

Before lawsuit, Uber fell out with 'big brother' Google, Kalanick testifies

Indian shares ended lower on Wednesday in their seventh consecutive sessions of losses, after the central bank said it would closely monitor accelerating inflation and kept its main repo rate on hold while retaining its &quot;neutral&quot; stance.

The benchmark BSE Sensex closed down 0.33 percent at 34,082.71, its lowest close since January 4.&nbsp;

The broader NSE Nifty ended 0.21 percent lower at 10,476.7, its lowest close since January 3.

The benchmark BSE Sensex closed down 0.33 percent at 34,082.71, its lowest close since January 4

Indian shares ended lower on Wednesday in their seventh consecutive sessions of losses, after the central bank said it would closely monitor accelerating inflation and kept its main repo rate on hold while retaining its "neutral" stance. The benchmark BSE Sensex closed down 0.33 percent at 34,082.71, its lowest close since January 4. The broader NSE Nifty ended 0.21 percent lower at 10,476.7, its lowest close since January 3.

Sensex ends lower after RBI policy meet

The Reserve Bank of India has decided to keep the repo rate and the reverse repo rate unchanged at 6 per cent and 5.75 per cent respectively for a third straight policy meeting.&nbsp;

The RBI retained its &quot;neutral&quot; stance on the interest rates with an aim to support economic growth even as inflation accelerated to a 17-month high.

Repo rate is the rate at which the RBI lends out finances to the banking sector while the reverse repo rate is the opposite of the same.&nbsp;

According to experts, a hike in the interest rates would have translated into an increase in inflation and escalating crude oil prices.&nbsp;

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WATCH: RBI Governor Urjit Patel addresses the media in Mumbai <a href="https://t.co/BRq38Fyypb">https://t.co/BRq38Fyypb</a>
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The Monetary Policy Committee (MPC) of the Reserve Bank of India had kept the interest rate unchanged in December over looming concerns of price rise.&nbsp;

RBI Governor Urjit Patel chaired the Monetary Policy Committee meeting today at 2.30pm.

&ldquo;The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2% while supporting growth,&rdquo; RBI noted.

&quot;The policy decision is in line with our expectation along with the hawkishness that is built into the statement. While we retain status quo from RBI for FY19, a risk to our call may come from higher inflation,&quot; shared Aditi Nayar, Principal Economist, ICRA Ltd in Gurgaon.&nbsp;

&quot;Despite the upward revision in the inflation forecast and concerns highlighted regarding growing inflation risks amid the crystallization of the fiscal slippage, the tone of the policy was not as hawkish as expected, given the comment that the nascent recovery needs to be carefully nurtured,&quot; Radhika Rao, Group Economist, DBS, Singapore told Reuters.&nbsp;

Ahead of the RBI&#39;s announcement, the Indian rupee traded down 11 paise against the US dollar at 64.14.&nbsp;

RBI Governor Urjit Patel chaired the Monetary Policy Committee meeting today at 2.30pm

The Reserve Bank of India has decided to keep the repo rate and the reverse repo rate unchanged at 6 per cent and 5.75 per cent respectively for a third straight policy meeting. The RBI retained its "neutral" stance on the interest rates with an aim to support economic growth even as inflation accelerated to a 17-month high. Repo rate is the rate at which the RBI lends out finances to the banking sector while the reverse repo rate is the opposite of the same. According to experts, a hike in the interest rates would have translated into an increase in inflation and escalating crude oil prices. WATCH: RBI Governor Urjit Patel addresses the media in Mumbai https://t.co/BRq38Fyypb — ANI (@ANI) February 7, 2018 × The Monetary Policy Committee (MPC) of the Reserve Bank of India had kept the interest rate unchanged in December over looming concerns of price rise. RBI Governor Urjit Patel chaired the Monetary Policy Committee meeting today at 2.30pm. “The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2% while supporting growth,” RBI noted. "The policy decision is in line with our expectation along with the hawkishness that is built into the statement. While we retain status quo from RBI for FY19, a risk to our call may come from higher inflation," shared Aditi Nayar, Principal Economist, ICRA Ltd in Gurgaon. "Despite the upward revision in the inflation forecast and concerns highlighted regarding growing inflation risks amid the crystallization of the fiscal slippage, the tone of the policy was not as hawkish as expected, given the comment that the nascent recovery needs to be carefully nurtured," Radhika Rao, Group Economist, DBS, Singapore told Reuters. Ahead of the RBI's announcement, the Indian rupee traded down 11 paise against the US dollar at 64.14.

RBI leaves repo rate, reverse repo rate unchanged at 6 & 5.75%

India&#39;s second-leading car manufacturer Hyundai Motor India on Wednesday unveiled the much-awaited facelift of 2018 Elite i20 premium hatchback at the Auto Expo 2018, on Wednesday. &nbsp;

The i20 facelift is similar to the details and the images already leaked online.&nbsp;

Priced at Rs 5.34 Lakh, the new Hyundai Elite i20 is among the handful of cars that Hyundai is showcasing at &nbsp;Auto Expo, which also includes the all-new Hyundai Santro, Hyundai Ioniq crossover, as well as its Hyundai N performance cars.&nbsp;

Also read:&nbsp;

The 2018 Hyundai Elite i20 got a facelift and a design refresh which has remained unchanged since 2014. The car will also be available in the new colour &ndash; orange.&nbsp;

The front bumper and fog lamp inserts also got minor changes but more or less the front end of the car remains similar to the outgoing version.

The interiors of the i20 Elite remains familiar with a high-quality dual-tone finish. However, the touchscreen infotainment unit on the center console is larger than the one in the pre-facelift model.&nbsp;

This infotainment gains new features such as Android Auto and Apple CarPlay connectivity options.

The facelift brings a new large V-shaped grille finished in black to the Elite i20, and does not bear a chrome frame as the outgoing version.&nbsp;

Fog lamps pods, the air dam also receive a redesign. Headlamps now sport C-shaped chrome inserts and LED DRLs. The Asta variant spied in these shots also features projector headlamps. The rear bumper also gets a do-over with new black inserts and a revised tailgate.&nbsp;

The taillamps now extend down all the way to the tailgate. There are new alloys too, with a twin five-spoke design and gunmetal finish.

Mechanical changes on the car will be limited to the addition of a new CVT automatic gearbox on the 1.2 liter Kappa VTVT petrol engine that makes 82 Bhp-115 Nm.&nbsp;

Hyundai will no longer fit the i20 Elite with the larger, 1.4 liter petrol engine. The 1.4 liter turbocharged CRDI diesel engine with 89 Bhp-220 Nm will be retained, with a 6-speed manual gearbox as standard.

Hyundai i20 was a major show-stopper at the Hyundai&rsquo;s stall and features new alloy wheels.

Priced at Rs 5.34 Lakh, the new Hyundai Elite i20 is among the handful of cars that Hyundai India will bring to the Auto Expo, which also includes the all-new Hyundai Santro, Hyundai Ioniq crossover, as well as its Hyundai N performance cars.

India's second-leading car manufacturer Hyundai Motor India on Wednesday unveiled the much-awaited facelift of 2018 Elite i20 premium hatchback at the Auto Expo 2018, on Wednesday. The i20 facelift is similar to the details and the images already leaked online. Priced at Rs 5.34 Lakh, the new Hyundai Elite i20 is among the handful of cars that Hyundai is showcasing at Auto Expo, which also includes the all-new Hyundai Santro, Hyundai Ioniq crossover, as well as its Hyundai N performance cars. Also read: The 2018 Hyundai Elite i20 got a facelift and a design refresh which has remained unchanged since 2014. The car will also be available in the new colour – orange. The front bumper and fog lamp inserts also got minor changes but more or less the front end of the car remains similar to the outgoing version. The interiors of the i20 Elite remains familiar with a high-quality dual-tone finish. However, the touchscreen infotainment unit on the center console is larger than the one in the pre-facelift model. This infotainment gains new features such as Android Auto and Apple CarPlay connectivity options. The facelift brings a new large V-shaped grille finished in black to the Elite i20, and does not bear a chrome frame as the outgoing version. Fog lamps pods, the air dam also receive a redesign. Headlamps now sport C-shaped chrome inserts and LED DRLs. The Asta variant spied in these shots also features projector headlamps. The rear bumper also gets a do-over with new black inserts and a revised tailgate. The taillamps now extend down all the way to the tailgate. There are new alloys too, with a twin five-spoke design and gunmetal finish. Mechanical changes on the car will be limited to the addition of a new CVT automatic gearbox on the 1.2 liter Kappa VTVT petrol engine that makes 82 Bhp-115 Nm. Hyundai will no longer fit the i20 Elite with the larger, 1.4 liter petrol engine. The 1.4 liter turbocharged CRDI diesel engine with 89 Bhp-220 Nm will be retained, with a 6-speed manual gearbox as standard. Hyundai i20 was a major show-stopper at the Hyundai’s stall and features new alloy wheels.

Auto Expo 2018: Hyundai Motor India unveils all-new Elite i20 for Rs 5.34 Lakh

Maruti Suzuki unveiled its first in-house developed crossover Concept Future-S, which is a cross between a hatchback and a sports utility vehicle, at the Auto Expo 2018.

Auto Expo 2018: Maruti Suzuki unveils compact car Concept Future-S

Google is reported to be developing a subscription-based game streaming service.&nbsp;

The service is likely to be compatible with its Chromecast or a Google-made console.

Alphabet Inc. announced on Wednesday its plan of developing a new service codenamed &#39;Yeti&#39;.

&#39;Yeti&#39; would put Google at the forefront of the video game market that enables the users to play while the games are being streamed. The new service aims at rendering the need for downloading games or using the disks versions unnecessary.

The service will make use of Google&#39;s cloud servers to broadcast the games to users over the internet.

According to reports, Google has already discussed &#39;Yeti&#39; with game developers. It is not clear if the developers will create a game especially for &#39;Yeti&#39;&nbsp;or make existing streamed games available.

The service is likely to be compatible with its Chromecast or a Google-made console

Google is reported to be developing a subscription-based game streaming service. The service is likely to be compatible with its Chromecast or a Google-made console. Alphabet Inc. announced on Wednesday its plan of developing a new service codenamed 'Yeti'. 'Yeti' would put Google at the forefront of the video game market that enables the users to play while the games are being streamed. The new service aims at rendering the need for downloading games or using the disks versions unnecessary. The service will make use of Google's cloud servers to broadcast the games to users over the internet. According to reports, Google has already discussed 'Yeti' with game developers. It is not clear if the developers will create a game especially for 'Yeti' or make existing streamed games available.

Google to break into gaming market with 'Yeti' streaming service

The Reserve Bank of India, meeting amid a global market storm, is widely expected to keep its key rate on hold on Wednesday, but toughen its rhetoric as inflation has accelerated sharply, making an increasing number of analysts see a hike this year. 
 
A Reuters poll showed 58 of 60 economists expect the repo rate to be kept at 6.00 per cent, the lowest since November 2010, and the reverse repo rate at 5.75 per cent. The other two predicted a 25 basis points hike. 
 
But more analysts now believe tightening looms down the road after surging oil and food prices led consumer inflation in the country to a 17-month high of 5.21 per cent in December - well above the RBI&#39;s 4 per cent target. 
 
Inflation is expected to accelerate after the government&#39;s budget last week widened its fiscal deficit target for the fiscal year starting in April to help finance a sharp increase in spending in the rural areas and on healthcare. 
 
Bond investors are already pricing in rate hikes, with benchmark 10-year bond yields rising over 80 basis points since July, the biggest move since the 2013 rupee crisis. 
 
The Reuters poll showed 14 out of 35 analysts believe the RBI will hike rates by the end of 2018, up from 7 out of 27 in December.

New inflation risks?

But questions remain about how soon the RBI can tighten, given the economy is expected to grow only 6.7 per cent in the current fiscal year - the slowest pace in about three years.

The RBI&#39;s policy stance is currently &quot;neutral&quot;.

&quot;New inflation risks are emerging post-budget, so it will have to sound hawkish - but not overly so,&quot; BNP Paribas told clients on Tuesday, adding it expects two 25-bps rate hikes in 2018&#39;s second half.

The RBI has held the repo at 6.0 per cent since a 25 bps cut in August, having taken advantage of a period of extraordinary low inflation to cut rates by 200 bps since early 2015.

For sure, a rate hike in 2018 is far from certain, as the RBI has to be careful not to slow an economy that needs rapid growth to create jobs. The RBI will also be mindful of the global economy, in case of a sharp downturn that impacts India.

Although any move to raise rates could make yields more attractive overseas, it could also undermine confidence in the economy, adding more uncertainty to monetary policy.

Inflation is expected to accelerate after the government’s budget last week widened its fiscal deficit target for the fiscal year starting in April to help finance a sharp increase in spending in the rural areas and on healthcare

The Reserve Bank of India, meeting amid a global market storm, is widely expected to keep its key rate on hold on Wednesday, but toughen its rhetoric as inflation has accelerated sharply, making an increasing number of analysts see a hike this year. A Reuters poll showed 58 of 60 economists expect the repo rate to be kept at 6.00 per cent, the lowest since November 2010, and the reverse repo rate at 5.75 per cent. The other two predicted a 25 basis points hike. But more analysts now believe tightening looms down the road after surging oil and food prices led consumer inflation in the country to a 17-month high of 5.21 per cent in December - well above the RBI's 4 per cent target. Inflation is expected to accelerate after the government's budget last week widened its fiscal deficit target for the fiscal year starting in April to help finance a sharp increase in spending in the rural areas and on healthcare. Bond investors are already pricing in rate hikes, with benchmark 10-year bond yields rising over 80 basis points since July, the biggest move since the 2013 rupee crisis. The Reuters poll showed 14 out of 35 analysts believe the RBI will hike rates by the end of 2018, up from 7 out of 27 in December. New inflation risks? But questions remain about how soon the RBI can tighten, given the economy is expected to grow only 6.7 per cent in the current fiscal year - the slowest pace in about three years. The RBI's policy stance is currently "neutral". "New inflation risks are emerging post-budget, so it will have to sound hawkish - but not overly so," BNP Paribas told clients on Tuesday, adding it expects two 25-bps rate hikes in 2018's second half. The RBI has held the repo at 6.0 per cent since a 25 bps cut in August, having taken advantage of a period of extraordinary low inflation to cut rates by 200 bps since early 2015. For sure, a rate hike in 2018 is far from certain, as the RBI has to be careful not to slow an economy that needs rapid growth to create jobs. The RBI will also be mindful of the global economy, in case of a sharp downturn that impacts India. Although any move to raise rates could make yields more attractive overseas, it could also undermine confidence in the economy, adding more uncertainty to monetary policy.

RBI expected to keep rates on hold in policy decision

The benchmark Sensex rose by over 470 points in opening trade today, breaking its six-session long losing streak on value-buying in select blue-chips by domestic investors triggered by a recovery in global markets.

The 30-share BSE index gained 470.39 points, or 1.37 per cent, at 34,666.33 in opening trade. Also, the NSE Nifty rose by 115.75 points, or 1.10 per cent, to 10,614.

All sectoral indices, including realty, metal, consumer durables and banking advanced up to 2.56 per cent.

The gauge had lost 2,087.31 points in the previous six sessions following a global rout in equities inflicted by inflation worries and imposition of a 10 per cent long-term capital gains tax on equities.

Emergence of buying at prevailing lower levels after recent losses and a better trend at other Asian markets, following overnight gains at the Wall Street helped both the key indices recover.

Caution prevailed as investors kept their positions at a low ebb amid expectations that the RBI may keep rates unchanged, brokers said.

Domestic institutional investors (DIIs) made purchases worth Rs 1,699.74 crore yesterday, as per provisional data.

Major gainers such as Tata Steel, Tata Motors, ONGC, IndusInd Bank, Dr Reddy&#39;s, Maruti Suzuki, SBI, M&amp;M, Bharti Airtel, Adani Ports, Axis Bank, Kotak Bank, Hero MotoCorp, ICICI Bank and RIL rose up to 2.14 per cent.

Among the Asian bourses, Hong Kong&#39;s Hang Seng was up 1.59 per cent, Japan&#39;s Nikkei rose 3.06 per cent, while Shanghai Composite Index fell 0.65 per cent in early trade today.

The US Dow Jones Industrial Average ended 2.33 per cent lower yesterday.

The 30-share BSE index gained 470.39 points, or 1.37 per cent, at 34,666.33 in opening trade. Also, the NSE Nifty rose by 115.75 points, or 1.10 per cent, to 10,614.

The benchmark Sensex rose by over 470 points in opening trade today, breaking its six-session long losing streak on value-buying in select blue-chips by domestic investors triggered by a recovery in global markets. The 30-share BSE index gained 470.39 points, or 1.37 per cent, at 34,666.33 in opening trade. Also, the NSE Nifty rose by 115.75 points, or 1.10 per cent, to 10,614. All sectoral indices, including realty, metal, consumer durables and banking advanced up to 2.56 per cent. The gauge had lost 2,087.31 points in the previous six sessions following a global rout in equities inflicted by inflation worries and imposition of a 10 per cent long-term capital gains tax on equities. Emergence of buying at prevailing lower levels after recent losses and a better trend at other Asian markets, following overnight gains at the Wall Street helped both the key indices recover. Caution prevailed as investors kept their positions at a low ebb amid expectations that the RBI may keep rates unchanged, brokers said. Domestic institutional investors (DIIs) made purchases worth Rs 1,699.74 crore yesterday, as per provisional data. Major gainers such as Tata Steel, Tata Motors, ONGC, IndusInd Bank, Dr Reddy's, Maruti Suzuki, SBI, M&M, Bharti Airtel, Adani Ports, Axis Bank, Kotak Bank, Hero MotoCorp, ICICI Bank and RIL rose up to 2.14 per cent. Among the Asian bourses, Hong Kong's Hang Seng was up 1.59 per cent, Japan's Nikkei rose 3.06 per cent, while Shanghai Composite Index fell 0.65 per cent in early trade today. The US Dow Jones Industrial Average ended 2.33 per cent lower yesterday.

Sensex opens in green on value-buying, climbs 470 points

After closing at a record low, Sensex, Nifty recovered in opening trade on value buying in frontline stocks led by banking, auto and metal.

Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75.

The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent.

The markets had fallen over 1,000 in early morning trade on Tuesday as strong selling pressure dragged down all the Sensex and the Nifty components.

Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade.

The rupee too fell to 64.38 against US dollar, as against Monday&#39;s close of 64.06, a fall of about 32 paisa.

The fall came as Wall Street stocks plunged leading to large-scale bloodbath in Asian stocks.

Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent on Tuesday morning.

Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75

After closing at a record low, Sensex, Nifty recovered in opening trade on value buying in frontline stocks led by banking, auto and metal. Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75. The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent. The markets had fallen over 1,000 in early morning trade on Tuesday as strong selling pressure dragged down all the Sensex and the Nifty components. Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade. The rupee too fell to 64.38 against US dollar, as against Monday's close of 64.06, a fall of about 32 paisa. The fall came as Wall Street stocks plunged leading to large-scale bloodbath in Asian stocks. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent on Tuesday morning.

Sensex, Nifty recover after terrible Tuesday

Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and US&nbsp;banks.

On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more than half from a peak of almost $20,000 hit in December.

Bitcoin has fallen in six of the last eight trading session.

The currency, which surged more than 1,300 percent last year, has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Last week bitcoin suffered its worst weekly performance since 2013.

&quot;We envisage this decline will continue, setting the next technical level at $5,000 a coin,&quot; said Miles Eakers, chief market analyst at Centtrip, which specializes in foreign exchange, worldwide payments and treasury management.

Other cryptocurrencies also suffered double-digit declines on Monday, according to industry tracker Coinmarketcap.com.

Ethereum, the second largest virtual currency, was last down nearly 19 percent at $703.40, while Ripple, the third largest, last traded at 71 cents, down 14.1 percent.

British bank Lloyds Banking Group said on Sunday it was banning customers from using credit cards to buy bitcoin. It joined U.S. banking giants JPMorgan Chase &amp; Co and Citigroup, which announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value. [nL8N1PU10Y]

On Monday, India said it was planning steps to make virtual currencies illegal within its payments system and to regulate the trading of crypto assets.

&quot;Cryptocurrencies have seriously fallen out of favour since the middle of December, and constant negative news flow and speculation of increased regulation has exacerbated the move lower,&quot; Craig Erlam, an analyst at currency broker Oanda, said.

The cryptocurrency sector has also attracted the spotlight after news of hacks and scams, including the roughly 58 billion yen ($532.9 million) stolen in digital money from Tokyo-based cryptocurrency exchange Coincheck two weeks ago.&nbsp;

But some investors were unfazed.

&quot;Bitcoin has bounced back from similar collapses before during its short but volatile history, and it would hardly be a shock if those claiming the bubble has burst are surprised by yet another change in fortunes,&quot; said Dennis de Jong, managing director at online FX brokerage firm UFX.com in Limassol, Cyprus.

Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York.

Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and US banks. On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more than half from a peak of almost $20,000 hit in December. Bitcoin has fallen in six of the last eight trading session. The currency, which surged more than 1,300 percent last year, has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Last week bitcoin suffered its worst weekly performance since 2013. "We envisage this decline will continue, setting the next technical level at $5,000 a coin," said Miles Eakers, chief market analyst at Centtrip, which specializes in foreign exchange, worldwide payments and treasury management. Other cryptocurrencies also suffered double-digit declines on Monday, according to industry tracker Coinmarketcap.com. Ethereum, the second largest virtual currency, was last down nearly 19 percent at $703.40, while Ripple, the third largest, last traded at 71 cents, down 14.1 percent. British bank Lloyds Banking Group said on Sunday it was banning customers from using credit cards to buy bitcoin. It joined U.S. banking giants JPMorgan Chase & Co and Citigroup, which announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value. [nL8N1PU10Y] On Monday, India said it was planning steps to make virtual currencies illegal within its payments system and to regulate the trading of crypto assets. "Cryptocurrencies have seriously fallen out of favour since the middle of December, and constant negative news flow and speculation of increased regulation has exacerbated the move lower," Craig Erlam, an analyst at currency broker Oanda, said. The cryptocurrency sector has also attracted the spotlight after news of hacks and scams, including the roughly 58 billion yen ($532.9 million) stolen in digital money from Tokyo-based cryptocurrency exchange Coincheck two weeks ago. But some investors were unfazed. "Bitcoin has bounced back from similar collapses before during its short but volatile history, and it would hardly be a shock if those claiming the bubble has burst are surprised by yet another change in fortunes," said Dennis de Jong, managing director at online FX brokerage firm UFX.com in Limassol, Cyprus.

Bitcoin continues to slide, loses half its value in 2018

Indian shares fell for a sixth consecutive session on Tuesday, the longest losing streak since September, as the global market rout whacked sentiment, with lingering concerns of a tighter monetary policy ahead of a central bank meeting on Wednesday.

The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent. 
 
Tata Motors Ltd shares lost 5.1 percent after the automaker posted a much-weaker-than-expected net profit on Monday.&nbsp;

Indian shares fell for a sixth consecutive session on Tuesday, the longest losing streak since September, as the global market rout whacked sentiment, with lingering concerns of a tighter monetary policy ahead of a central bank meeting on Wednesday. The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent. Tata Motors Ltd shares lost 5.1 percent after the automaker posted a much-weaker-than-expected net profit on Monday.

Sensex drops for sixth straight session, closes at 34,195

In 2016, the figure stood at 6,000, while in 2015 as many as 4,000 millionaires shifted base.

Millionaire migration: 7,000 'super-rich' Indians shifted base last year

Stock markets fell off a cliff on Tuesday as panic in global markets triggered a sell-off at Dalal Street with Sensex crashing 1,003 points and Nifty erasing as much as 371.4 points in the opening trades.&nbsp;

Overnight, Dow Jones fell over 1,100 points, its biggest fall since six-and-half years after US wage data on Friday pointed to quickening inflation which may lead to higher rates by the US Federal Reserve.&nbsp;

Investors lost a whopping Rs 5,40,000 crore within a few seconds of the market opening.

Indian markets are already under pressure after the government presented the budget that focused on populist measures ahead of general elections in 2019 and imposed a long-term capital gains tax on equities.

Asian stocks also plunged&nbsp;because of the record-breaking loss on Wall Street. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point,&nbsp;Sydney 3 per cent, Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent, and Shanghai 2.1 per cent.

Media reports quoted market observers as saying that besides negative global cues, heavy selling pressure in banking, capital goods, auto and oil and gas stocks, pulled the stocks lower.

The morning crash knocked off Rs 5.4 lakh crore investor wealth within seconds

Stock markets fell off a cliff on Tuesday as panic in global markets triggered a sell-off at Dalal Street with Sensex crashing 1,003 points and Nifty erasing as much as 371.4 points in the opening trades. Overnight, Dow Jones fell over 1,100 points, its biggest fall since six-and-half years after US wage data on Friday pointed to quickening inflation which may lead to higher rates by the US Federal Reserve. Investors lost a whopping Rs 5,40,000 crore within a few seconds of the market opening. Indian markets are already under pressure after the government presented the budget that focused on populist measures ahead of general elections in 2019 and imposed a long-term capital gains tax on equities. Asian stocks also plunged because of the record-breaking loss on Wall Street. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent, Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent, and Shanghai 2.1 per cent. Media reports quoted market observers as saying that besides negative global cues, heavy selling pressure in banking, capital goods, auto and oil and gas stocks, pulled the stocks lower.

Sensex bloodbath: In 24 hours, investors lost Rs 5.4 lakh crore

Bitcoin plunged 20 per cent to a three-month low today, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling.

The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year.

Today&#39;s collapse comes just six weeks after bitcoin hit a record high of $19,511, fuelled by a flood of speculators looking to make a quick buck, with warnings it could fall another 50 per cent.

Since those heady days the cryptomarket -- which includes dozens of other units -- has been pounded by news of crackdowns by governments including in China, Russia and South Korea, one of the biggest markets for the sector.

On Thursday, India said it would &quot;take all measures to eliminate&quot; cryptocurrencies&#39; use as part of a payment system and in funding illegitimate activities, while Japanese authorities raided a virtual currency exchange after it lost $530 million to hackers.

The central bank in Europe, Japan and the United States have also flagged concerns about the unit and this week saw several commercial lenders say they would stop allowing their customers to buy bitcoin through their credit cards owing to debt concerns.

Stephen Innes, head of trading for Asia Pacific at Oanda, said &quot;the dynamics behind the moves are regulatory clampdowns and investors losing confidence in crypto&quot;.

The sell-off on Tuesday was exacerbated by crushing losses on world stock markets, with the Dow on Wall Street suffering its biggest one-day points loss and wiping out all its 2018 gains.

The global rout comes as panicked investors fret over rising US borrowing costs, leading them to cash in profits after a stellar couple of months that have seen many indexes hit record or all-time highs.

Equities have enjoyed months of surges fuelled by optimism over the US economy, corporate earnings and the global outlook.

But while traders have been piling into equities, pushing many global indexes to record or multi-year highs, there has been growing concern on trading floors about elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate hikes.

&quot;The risk-off tone is hitting Bitcoin almost as hard as a global regulator and bank scrutiny,&quot; said Greg McKenna, chief market strategist at AxiTrader. &quot;The latest dent to the Cryptospace has been banks saying they are shutting down the ability of clients to buy bitcoin with their cards.&quot;

&quot;This could end up a full round trip back into the $1,850/$2,966 region.&nbsp;

The virtual currency fell to $6,190 for the first time since mid-November

Bitcoin plunged 20 per cent to a three-month low today, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year. Today's collapse comes just six weeks after bitcoin hit a record high of $19,511, fuelled by a flood of speculators looking to make a quick buck, with warnings it could fall another 50 per cent. Since those heady days the cryptomarket -- which includes dozens of other units -- has been pounded by news of crackdowns by governments including in China, Russia and South Korea, one of the biggest markets for the sector. On Thursday, India said it would "take all measures to eliminate" cryptocurrencies' use as part of a payment system and in funding illegitimate activities, while Japanese authorities raided a virtual currency exchange after it lost $530 million to hackers. The central bank in Europe, Japan and the United States have also flagged concerns about the unit and this week saw several commercial lenders say they would stop allowing their customers to buy bitcoin through their credit cards owing to debt concerns. Stephen Innes, head of trading for Asia Pacific at Oanda, said "the dynamics behind the moves are regulatory clampdowns and investors losing confidence in crypto". The sell-off on Tuesday was exacerbated by crushing losses on world stock markets, with the Dow on Wall Street suffering its biggest one-day points loss and wiping out all its 2018 gains. The global rout comes as panicked investors fret over rising US borrowing costs, leading them to cash in profits after a stellar couple of months that have seen many indexes hit record or all-time highs. Equities have enjoyed months of surges fuelled by optimism over the US economy, corporate earnings and the global outlook. But while traders have been piling into equities, pushing many global indexes to record or multi-year highs, there has been growing concern on trading floors about elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate hikes. "The risk-off tone is hitting Bitcoin almost as hard as a global regulator and bank scrutiny," said Greg McKenna, chief market strategist at AxiTrader. "The latest dent to the Cryptospace has been banks saying they are shutting down the ability of clients to buy bitcoin with their cards." "This could end up a full round trip back into the $1,850/$2,966 region.

Bitcoin drops below $6,200 for first time in three months

The rupee on Tuesday dropped by 29 paise to trade at 64.36 against the US dollar on frenetic dollar demand from importers and banks.

Dealers said early losses in domestic equity markets and fresh foreign fund outflows weighed on the rupee.

Yesterday, the rupee had ended with a mere fall of one paisa at Rs 64.07 against the American currency.

The benchmark BSE Sensex crashed by 1,274.35 points, or 3.66 per cent, to 33,482.81, while Nifty tanked by 390.25 points, or 3.65 per cent, to 10,276.30 in opening trade.&nbsp;

Yesterday, the rupee had ended with a mere fall of one paisa at Rs 64.07 against the American currency

The rupee on Tuesday dropped by 29 paise to trade at 64.36 against the US dollar on frenetic dollar demand from importers and banks. Dealers said early losses in domestic equity markets and fresh foreign fund outflows weighed on the rupee. Yesterday, the rupee had ended with a mere fall of one paisa at Rs 64.07 against the American currency. The benchmark BSE Sensex crashed by 1,274.35 points, or 3.66 per cent, to 33,482.81, while Nifty tanked by 390.25 points, or 3.65 per cent, to 10,276.30 in opening trade.

Rupee drops 29 paise against dollar at 64.36

In the biggest fall in its history, <a href="http://www.wionews.com/world/asian-markets-plunge-as-wall-street-rout-spreads-31927">the &nbsp;Dow Jones Industrial Average</a> fell nearly 1,600 points at one point as Wall Street experienced a bloodbath on Monday.

The Dow&#39;s gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America&#39;s 30 largest companies as it closed at 24,345.75 ending down 1,175.21 points down.

The Dow fell over fears of Treasury bond yields and the likelihood of &nbsp;Federal Reserve interest rate hikes this year as the US economy strengthens.

The benchmark S&amp;P 500 index also saw selling pressure as all sectors, were hit. It was down 5.0 per cent which was the biggest daily percentage decline, followed by healthcare, down 4.6 per cent.

The S&amp;P 500 lost 113.19 points, or 4.10 per cent, to end at 2,648.94 on Monday.&nbsp;

&quot;It looks to me like a typical type of scenario when you see a single stock flash crash where you&#39;ll see bids just disappear, stop orders get kicked,&quot; said Joe Saluzzi, co-manager of trading at Themis Trading told Reuters.

The Nasdaq Composite also dropped 273.42 points, or 3.78 per cent to 6,967.53.

The Dow fell over fears of Treasury bond yields and the likelihood of Federal Reserve interest rate hikes this year as the US economy strengthens.

In the biggest fall in its history, the Dow Jones Industrial Average fell nearly 1,600 points at one point as Wall Street experienced a bloodbath on Monday. The Dow's gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America's 30 largest companies as it closed at 24,345.75 ending down 1,175.21 points down. The Dow fell over fears of Treasury bond yields and the likelihood of Federal Reserve interest rate hikes this year as the US economy strengthens. The benchmark S&P 500 index also saw selling pressure as all sectors, were hit. It was down 5.0 per cent which was the biggest daily percentage decline, followed by healthcare, down 4.6 per cent. The S&P 500 lost 113.19 points, or 4.10 per cent, to end at 2,648.94 on Monday. "It looks to me like a typical type of scenario when you see a single stock flash crash where you'll see bids just disappear, stop orders get kicked," said Joe Saluzzi, co-manager of trading at Themis Trading told Reuters. The Nasdaq Composite also dropped 273.42 points, or 3.78 per cent to 6,967.53.

Wall Street crash: Dow Jones plunges to historic low, S&P 500 & Nasdaq hit

Minister of Commerce and Industry Suresh Prabhu expressed his opinion on today&#39;s Sensex bloodbath which led to an estimated&nbsp;loss of a whopping Rs 5.4 lakh crore to the investors.&nbsp;

In an interview with Zee Group Prabhu noted that the drop in the markets does not attribute to any domestic phenomenon.&nbsp;

&quot;Markets are linked globally and it is the after-effect of whatever happens in the international market,&quot; he noted.&nbsp;

He also noted that the proposed long-term capital gains tax was not responsible for the drop in markets as it didn&#39;t reflect any changes in the markets on the day of the budget as well.&nbsp;

&quot;Global markets are showing weaker trends, something that trickled down to our domestic market as well,&quot; the minister shared.&nbsp;

He also shared that the fundamentals of our economy are strong due to which the markets will bounce back to normal again.&nbsp;

&quot;I would like to ensure that the market is going to improve in the next few days,&quot; he added.&nbsp;

He further added that the consultation for the new industrial policy has begun, the policy will be futuristic in nature. &quot;Keeping global trade in mind, we will be formulating a separate export policy as well which will enable us to achieve an economy worth 5 trillion dollars in the next 8 years,&quot; Prabhu concluded.&nbsp;

<a href="http://www.wionews.com/business-economy/sensex-bloodbath-in-24-hours-investors-lost-rs-54-lakh-crore-31955">Stock markets plummeted on Tuesday</a> as panic in global markets triggered a sell-off at Dalal Street with Sensex crashing 1,003 points and Nifty dropping as much as 371.4 points in the opening trades.

'I would like to ensure that the market is going to improve in the next few days,' Suresh Prabhu

Minister of Commerce and Industry Suresh Prabhu expressed his opinion on today's Sensex bloodbath which led to an estimated loss of a whopping Rs 5.4 lakh crore to the investors. In an interview with Zee Group Prabhu noted that the drop in the markets does not attribute to any domestic phenomenon. "Markets are linked globally and it is the after-effect of whatever happens in the international market," he noted. He also noted that the proposed long-term capital gains tax was not responsible for the drop in markets as it didn't reflect any changes in the markets on the day of the budget as well. "Global markets are showing weaker trends, something that trickled down to our domestic market as well," the minister shared. He also shared that the fundamentals of our economy are strong due to which the markets will bounce back to normal again. "I would like to ensure that the market is going to improve in the next few days," he added. He further added that the consultation for the new industrial policy has begun, the policy will be futuristic in nature. "Keeping global trade in mind, we will be formulating a separate export policy as well which will enable us to achieve an economy worth 5 trillion dollars in the next 8 years," Prabhu concluded. Stock markets plummeted on Tuesday as panic in global markets triggered a sell-off at Dalal Street with Sensex crashing 1,003 points and Nifty dropping as much as 371.4 points in the opening trades.

Long-term capital gains tax not responsible for stock market drop: Commerce Minister Suresh Prabhu

Indian shares fell for a fifth straight session on Monday, with the broader NSE index hitting its lowest in a month, as Asian shares slumped, while worries remained that the Reserve Bank of India would turn more hawkish at its policy meeting later this week.

Investors remained concerned that the government widened its fiscal deficit target for the year starting in April to help finance higher spending in rural sectors and healthcare.

The government also imposed a 10 percent long-term capital gains tax for equity investments of more than one year, raising concerns about investors` risk appetite after Indian shares went on a record-setting spree last month.

Government officials have tried to downplay the impact of the tax. Finance and Revenue Secretary Hasmukh Adhia told a post-budget conference organised by an industry lobby group that the rate was &quot;nominal&quot; and India remained a favourable market. He instead attributed the recent selloff in the markets to global cues.

&quot;It is very unfortunate that our move came at a very wrong time because of global markets also going down,&quot; he said.

Asian shares fell the most in more than a year on Monday as fears of resurgent inflation battered bonds globally, and toppled Wall Street from record highs. The MSCI`s index of Asia-Pacific shares outside Japan shed as much as 2 percent in its largest intraday drop since late 2016.&nbsp;

But bonds in India turned relatively more stable, with the benchmark 10-year bond yield rising 2 basis points to 7.58 percent after posting its biggest weekly rise since February 2017 last week.&nbsp;

The rupee was trading at 64.0325/0375 per dollar, compared with Friday`s close of 64.07.

&quot;Disappointments include budget provisions and lack of buying on small- and mid-caps, even at lower levels. Expect RBI to maintain the rates and its cautious tone during the policy meet this week,&quot; said Deepak Jasani, head of retail research at HDFC Securities.&nbsp;

The NSE Nifty was down 0.84 percent at 10,670.20 as of 0746 GMT, after declining as much as 1.62 percent to its lowest level since Jan 5.

The benchmark BSE index was 0.86 percent lower at 34,766.63, after dropping as much as 1.56 percent.

Both indexes were down for a fifth straight session, in what could be their longest losing streak since September 2017.

The losses were led by index heavyweight Housing Development Finance Corp, which was trading 3 percent lower.

Meanwhile, Bharti Airtel Ltd climbed as much as 5 percent after Singapore Telecommunications Ltd said it would raise stake in Bharti Telecom, the holding company for India`s biggest mobile carrier.

The Sensex has been in free fall ever since Finance Minister Arun Jaitley announced an increased fiscal deficit target of 3.3% and a 10% LTCG tax on the sale of shares

Indian shares fell for a fifth straight session on Monday, with the broader NSE index hitting its lowest in a month, as Asian shares slumped, while worries remained that the Reserve Bank of India would turn more hawkish at its policy meeting later this week. Investors remained concerned that the government widened its fiscal deficit target for the year starting in April to help finance higher spending in rural sectors and healthcare. The government also imposed a 10 percent long-term capital gains tax for equity investments of more than one year, raising concerns about investors` risk appetite after Indian shares went on a record-setting spree last month. Government officials have tried to downplay the impact of the tax. Finance and Revenue Secretary Hasmukh Adhia told a post-budget conference organised by an industry lobby group that the rate was "nominal" and India remained a favourable market. He instead attributed the recent selloff in the markets to global cues. "It is very unfortunate that our move came at a very wrong time because of global markets also going down," he said. Asian shares fell the most in more than a year on Monday as fears of resurgent inflation battered bonds globally, and toppled Wall Street from record highs. The MSCI`s index of Asia-Pacific shares outside Japan shed as much as 2 percent in its largest intraday drop since late 2016. But bonds in India turned relatively more stable, with the benchmark 10-year bond yield rising 2 basis points to 7.58 percent after posting its biggest weekly rise since February 2017 last week. The rupee was trading at 64.0325/0375 per dollar, compared with Friday`s close of 64.07. "Disappointments include budget provisions and lack of buying on small- and mid-caps, even at lower levels. Expect RBI to maintain the rates and its cautious tone during the policy meet this week," said Deepak Jasani, head of retail research at HDFC Securities. The NSE Nifty was down 0.84 percent at 10,670.20 as of 0746 GMT, after declining as much as 1.62 percent to its lowest level since Jan 5. The benchmark BSE index was 0.86 percent lower at 34,766.63, after dropping as much as 1.56 percent. Both indexes were down for a fifth straight session, in what could be their longest losing streak since September 2017. The losses were led by index heavyweight Housing Development Finance Corp, which was trading 3 percent lower. Meanwhile, Bharti Airtel Ltd climbed as much as 5 percent after Singapore Telecommunications Ltd said it would raise stake in Bharti Telecom, the holding company for India`s biggest mobile carrier.

Sensex falls for fifth day in a row, closes at 34,757

The national <a href="http://www.wionews.com/business-economy/dont-know-about-obamacare-but-modicare-can-definitely-become-successful-jaitley-31525">health protection scheme announced </a>in the Union Budget 2018 on Thursday will be implemented from October 2, reports said.

A Niti Ayog official said the health insurance scheme proposed in the Budget will cost Rs 10,000-12,000 crore.

<a href="http://www.wionews.com/business-economy/stress-in-farm-sector-is-real-jaitley-says-day-after-budget-31551">Also Read: Stress in farm sector is real, Jaitley says day after Budget</a>

The annual<a href="http://www.wionews.com/business-economy/live-union-budget-2018-finance-minister-arun-jaitley-presents-budget-in-parliament-31380"> premium will range between</a> Rs 1,000-1,200 per family, the official added.

The national health care policy announced in the Union Budget by finance minister aims to be the &quot;world&#39;s largest publicly-funded healthcare programme&quot;.

The plan is expected to cover around 50 crore people.

The newly unveiled policy offers Rs 5 lakh cover per family annually for secondary and tertiary care hospitalisation.

The finance minister had committed Rs 1,200 crore for the National Health Policy which would be used towards bringing up 1.5 lakh health and wellness centres.

&nbsp;

The plan is expected to cover around 50 crore people.

The national health protection scheme announced in the Union Budget 2018 on Thursday will be implemented from October 2, reports said. A Niti Ayog official said the health insurance scheme proposed in the Budget will cost Rs 10,000-12,000 crore. Also Read: Stress in farm sector is real, Jaitley says day after Budget The annual premium will range between Rs 1,000-1,200 per family, the official added. The national health care policy announced in the Union Budget by finance minister aims to be the "world's largest publicly-funded healthcare programme". The plan is expected to cover around 50 crore people. The newly unveiled policy offers Rs 5 lakh cover per family annually for secondary and tertiary care hospitalisation. The finance minister had committed Rs 1,200 crore for the National Health Policy which would be used towards bringing up 1.5 lakh health and wellness centres.

Budget 2018: Govt's landmark national health scheme to be implemented from October 2

A day after the Budget, the <a href="http://www.wionews.com/india-news/sensex-nosedives-over-600-points-post-jaitleys-10-tax-on-sale-of-shares-31579">BSE Sensex dived 839 points </a>today barely holding on to the 35K mark. The Nifty too nosedived plunging over 250 points.

Sensex crashed 839.91 points to end at 35,066.75 and the Nifty&nbsp;sank 256.30 points to 10,760.60 today.

This is the fifth steepest fall in ten years. The Bank Nifty was down around 3 per cent with the Nifty Midcap and BSE small cap also at a low, down 4-5 per cent.

The markets had given&nbsp;a <a href="http://www.wionews.com/business-economy/no-budget-cheer-markets-close-down-in-2017-markets-ended-over-400-points-up-31480">lukewarm response to the government&#39;s </a>Budget on Thursday with the Sensex closing 58 points down at 35,906.66 while the Nifty slipped 10.80 points to end at 11,016.90 on Budget day.

Sunil Shah, Stock market expert told Reuters: &quot;As far as capital markets are concerned, the budget turned out to be a non event. So there was nothing much in the budget.&quot;&nbsp;

The 30-share index had plunged over 460 points on Budget day in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh.

Today&#39;s poor run was fuelled by investors worried over government&#39;s move to raise the minimum support price(MSP) for crops this year which could lead to higher retail price with inflation hitting a 17-month high.

Today's poor run was fuelled by investors worried over government's move to raise the minimum support price for crops

A day after the Budget, the BSE Sensex dived 839 points today barely holding on to the 35K mark. The Nifty too nosedived plunging over 250 points. Sensex crashed 839.91 points to end at 35,066.75 and the Nifty sank 256.30 points to 10,760.60 today. This is the fifth steepest fall in ten years. The Bank Nifty was down around 3 per cent with the Nifty Midcap and BSE small cap also at a low, down 4-5 per cent. The markets had given a lukewarm response to the government's Budget on Thursday with the Sensex closing 58 points down at 35,906.66 while the Nifty slipped 10.80 points to end at 11,016.90 on Budget day. Sunil Shah, Stock market expert told Reuters: "As far as capital markets are concerned, the budget turned out to be a non event. So there was nothing much in the budget." The 30-share index had plunged over 460 points on Budget day in afternoon trade after finance minister Arun Jaitley had announced long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh. Today's poor run was fuelled by investors worried over government's move to raise the minimum support price(MSP) for crops this year which could lead to higher retail price with inflation hitting a 17-month high.

Sensex ends 800 points down day after Budget, LTCG tax hurts market sentiments

Stronger<a href="http://www.wionews.com/business-economy/apple-says-it-sold-fewer-iphones-but-made-record-profit-31535"> iPhone prices and hints by Apple Inc</a> on Thursday that it could return more than half of its $285 billion in cash to shareholders eased concerns among investors, even as the world`s biggest technology company gave a disappointing revenue outlook for the current quarter.

 
Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected.&nbsp;

 
But the revenue outlook for the first three months of 2018 &quot;was not as bad as some feared,&quot; said Jun Zhang of Rosenblatt Securities Inc. Apple&#39;s comments about plans for its $163 billion in net cash helped boost shares 3.3 percent to $173.48 in after-the-bell trading.

 
&ldquo;Over time, we are trying to target a capital structure that is approximately net neutral. We will have approximately the same level of cash and debt on the balance sheet,&rdquo; Apple`s chief financial officer, Luca Maestri, told Reuters in an interview.

 
&ldquo;We&rsquo;re going to take that balance down from $163 billion to zero,&quot; Maestri said, referring to Apple`s current level of cash net of debt.

 
He did not say whether the reduction in net cash would come in the form of returning capital to shareholders, capital expenditures or acquisitions.

 
The cash plans are a &quot;pleasant surprise,&quot; Brian Colello, an analyst at Morningstar Inc, said. &quot;This goes a bit against Apple&rsquo;s historically conservative capital structure.&quot;

 
Trip Miller, managing partner at Gullane Capital Partners and an Apple investor, said the move to a level balance sheet was good news. &quot;Let`s face it, this cash has been doing nothing for us over the last six years,&quot; he said.

 
Apple forecast revenue of $60 billion to $62 billion and gross margins of between 38 percent and 38.5 percent for its fiscal second quarter ending in March. Analysts were expecting $65.7 billion in sales and a gross margin of 38.9 percent for the March quarter, according to Thomson Reuters I/B/E/S, though some had forecast sales as low as $60 billion.

 
Thrivent Financial analyst Peter Karazeris said the low revenue forecast had been expected by many analysts and investors following a string of &ldquo;credible reports&rdquo; that Apple had cut parts orders.

 
&quot;I&rsquo;m happy we&rsquo;ve gotten the bad news that I was expecting guided into the stock. It was probably a little overbaked,&quot; he said. &quot;Now we`re focusing on metrics that really matter like free-cash generation and shareholder returns.&quot; Thrivent holds Apple shares.

 
Bright spots in the fiscal first quarter ended Dec. 30 included average selling prices for the iPhone that topped Wall Street predictions, at $796 versus expectations of $756. The strong prices offset unit sales of iPhones that missed Wall Street expectations, coming in at 77.3 million units versus estimates of 80 million.

 
&ldquo;It was really driven by the success of the iPhone X and also the iPhone 8 and iPhone 8 Plus,&rdquo; Maestri told Reuters of the pricing strength. &ldquo;The new lineup has done incredibly well.&quot;

 
The company posted revenue of $88.3 billion and profit of $3.89 per share, from $78.4 billion and $3.36 per share a year earlier. The results beat analyst expectations of revenue of $87.3 billion and profits of $3.86 per share.

 
Apple`s services business, which includes Apple Music, the App Store and iCloud, grew 18 per cent to $8.4 billion, missing analyst expectations of $8.6 billion. Maestri said the lower services revenue was because the holiday quarter was only 13 weeks rather than 14 weeks.

 
The services revenue was down slightly from $8.5 billion the quarter before.

 
&quot;That`s something to watch as we roll further into 2018,&quot; said Miller of Gullane Capital. &quot;Does that continue to stagnate, or was that a one-time bump in the road?&quot; 
Maestri also said Apple`s installed base of active devices reached 1.3 billion, 30 per cent higher than two years ago and representing an expansion of potential customers for the services business.

 
Apple said it expected its tax rate for the March quarter to be 15 per cent following changes in US&nbsp;tax law. The company said last month it plans to make a one-time tax payment of $38 billion on its overseas cash and has a five-year, $30 billion US&nbsp;capital expenditure plan.&nbsp;

 
The company did not say how much of its overseas cash it would bring back to the United States in the short term and gave no new information about its capital return program, which it typically updates each April.

Apple reported it sold fewer iPhones over the holiday quarter than Wall Street had expected.

Stronger iPhone prices and hints by Apple Inc on Thursday that it could return more than half of its $285 billion in cash to shareholders eased concerns among investors, even as the world`s biggest technology company gave a disappointing revenue outlook for the current quarter. Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected. But the revenue outlook for the first three months of 2018 "was not as bad as some feared," said Jun Zhang of Rosenblatt Securities Inc. Apple's comments about plans for its $163 billion in net cash helped boost shares 3.3 percent to $173.48 in after-the-bell trading. “Over time, we are trying to target a capital structure that is approximately net neutral. We will have approximately the same level of cash and debt on the balance sheet,” Apple`s chief financial officer, Luca Maestri, told Reuters in an interview. “We’re going to take that balance down from $163 billion to zero," Maestri said, referring to Apple`s current level of cash net of debt. He did not say whether the reduction in net cash would come in the form of returning capital to shareholders, capital expenditures or acquisitions. The cash plans are a "pleasant surprise," Brian Colello, an analyst at Morningstar Inc, said. "This goes a bit against Apple’s historically conservative capital structure." Trip Miller, managing partner at Gullane Capital Partners and an Apple investor, said the move to a level balance sheet was good news. "Let`s face it, this cash has been doing nothing for us over the last six years," he said. Apple forecast revenue of $60 billion to $62 billion and gross margins of between 38 percent and 38.5 percent for its fiscal second quarter ending in March. Analysts were expecting $65.7 billion in sales and a gross margin of 38.9 percent for the March quarter, according to Thomson Reuters I/B/E/S, though some had forecast sales as low as $60 billion. Thrivent Financial analyst Peter Karazeris said the low revenue forecast had been expected by many analysts and investors following a string of “credible reports” that Apple had cut parts orders. "I’m happy we’ve gotten the bad news that I was expecting guided into the stock. It was probably a little overbaked," he said. "Now we`re focusing on metrics that really matter like free-cash generation and shareholder returns." Thrivent holds Apple shares. Bright spots in the fiscal first quarter ended Dec. 30 included average selling prices for the iPhone that topped Wall Street predictions, at $796 versus expectations of $756. The strong prices offset unit sales of iPhones that missed Wall Street expectations, coming in at 77.3 million units versus estimates of 80 million. “It was really driven by the success of the iPhone X and also the iPhone 8 and iPhone 8 Plus,” Maestri told Reuters of the pricing strength. “The new lineup has done incredibly well." The company posted revenue of $88.3 billion and profit of $3.89 per share, from $78.4 billion and $3.36 per share a year earlier. The results beat analyst expectations of revenue of $87.3 billion and profits of $3.86 per share. Apple`s services business, which includes Apple Music, the App Store and iCloud, grew 18 per cent to $8.4 billion, missing analyst expectations of $8.6 billion. Maestri said the lower services revenue was because the holiday quarter was only 13 weeks rather than 14 weeks. The services revenue was down slightly from $8.5 billion the quarter before. "That`s something to watch as we roll further into 2018," said Miller of Gullane Capital. "Does that continue to stagnate, or was that a one-time bump in the road?" Maestri also said Apple`s installed base of active devices reached 1.3 billion, 30 per cent higher than two years ago and representing an expansion of potential customers for the services business. Apple said it expected its tax rate for the March quarter to be 15 per cent following changes in US tax law. The company said last month it plans to make a one-time tax payment of $38 billion on its overseas cash and has a five-year, $30 billion US capital expenditure plan. The company did not say how much of its overseas cash it would bring back to the United States in the short term and gave no new information about its capital return program, which it typically updates each April.

Apple's revenue outlook not as bad as some feared: Analysts

Finance Minister Arun Jaitley met with industry heavyweights Friday morning <a href="http://www.wionews.com/business-economy/as-expected-budget-2018-friendly-to-farmers-big-on-health-stocks-fall-31454" target="_blank">a day after releasing his Budget</a>.&nbsp;

There are sections of the economy which need government aid, Jaitley told the CEOs, taking off from where he had left off in his Budget. Jaitley&#39;s last full year Budget before the general elections in 2019 has been called pro-poor, populist, and aimed at the elections next year.&nbsp;

The stress in the farm sector is real, Jaitley said Friday. (Critics of his government have been saying the same thing for some time now.)

On Thursday, Jaitley had announced in his Budget that farmers would be paid 1.5 times the cost of production of their kharif crops.&nbsp;

The MSP has to be reasonable, Jaitley said Friday. And that the agriculture ministry, state governments, and NITI Aayog would work out the details.&nbsp;

Jaitley added Friday that the government was concentrating on targeting the welfare of individual rural homes, providing interest subventions, and aid for irrigation to rural areas.&nbsp;

Jaitley&#39;s biggest announcement on Thursday however had been the creation of the world&#39;s largest health insurance programme. The programme, Jaitley said, would cover 500 million people -- close to half of the country&#39;s population -- with 50 million families insured for up to Rs 5 lakh a year.&nbsp;

The &quot;health scheme is a major target for the government&quot;, Jaitley said Friday.&nbsp;

Jaitley said the health insurance programme too was first envisaged by the NITI Aayog. He added that the programme could be built on a trust or insurance model, and that the scheme would kick off on April 1, 2018.&nbsp;

Jaitley said Friday the MSP and healthcareprogrammes were &quot;ambitious&quot;&nbsp;and that the real success would lie in implementing it.

&ldquo;We were concerned this year on account of various global and domestic factors that this had to be a &lsquo;spend-more&rsquo; and not a &lsquo;save-more&rsquo; budget,&quot; Jaitley added.&nbsp;

Jaitley&#39;s Buget had offered a number of other sops to the poor, especially the rural poor -- including the distribution of eight million free gas connections, and four million free electricity connections.&nbsp;

The sops however mean the governnment will breach its fiscal deficit target. Jaitley said Thursday that the target this year was&nbsp;3.3%, up from the earlier 3%.&nbsp;

The stock markets did not respond well to the announcement. They dove further after Jaitley announced long-term capital gains on the sale of shares above Rs 1 lakh would be taxed at 10%. Jaitley said Friday that that had been a &quot;tough call&quot;.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/day-after-union-budget-sensex-drops-324-points-nifty-below-11000-on-ltcg-jitters-31550" target="_blank">Sensex drops 324 points, Nifty below 11,000 on LTCG jitters</a>

He added Friday that the &quot;manufacturing sector has picked up in the last few months&quot;. But that India has a serious challenge ahead of it when it comes to tax compliance and increasing the tax base. He added that tax rates in India are low. That no other country has a five per cent tax slab and that you cannot get slabs any lower than the ones we already have.&nbsp;

The finance minister met Friday with industry heavyweights

Finance Minister Arun Jaitley met with industry heavyweights Friday morning a day after releasing his Budget. There are sections of the economy which need government aid, Jaitley told the CEOs, taking off from where he had left off in his Budget. Jaitley's last full year Budget before the general elections in 2019 has been called pro-poor, populist, and aimed at the elections next year. The stress in the farm sector is real, Jaitley said Friday. (Critics of his government have been saying the same thing for some time now.) On Thursday, Jaitley had announced in his Budget that farmers would be paid 1.5 times the cost of production of their kharif crops. The MSP has to be reasonable, Jaitley said Friday. And that the agriculture ministry, state governments, and NITI Aayog would work out the details. Jaitley added Friday that the government was concentrating on targeting the welfare of individual rural homes, providing interest subventions, and aid for irrigation to rural areas. Jaitley's biggest announcement on Thursday however had been the creation of the world's largest health insurance programme. The programme, Jaitley said, would cover 500 million people -- close to half of the country's population -- with 50 million families insured for up to Rs 5 lakh a year. The "health scheme is a major target for the government", Jaitley said Friday. Jaitley said the health insurance programme too was first envisaged by the NITI Aayog. He added that the programme could be built on a trust or insurance model, and that the scheme would kick off on April 1, 2018. Jaitley said Friday the MSP and healthcareprogrammes were "ambitious" and that the real success would lie in implementing it. “We were concerned this year on account of various global and domestic factors that this had to be a ‘spend-more’ and not a ‘save-more’ budget," Jaitley added. Jaitley's Buget had offered a number of other sops to the poor, especially the rural poor -- including the distribution of eight million free gas connections, and four million free electricity connections. The sops however mean the governnment will breach its fiscal deficit target. Jaitley said Thursday that the target this year was 3.3%, up from the earlier 3%. The stock markets did not respond well to the announcement. They dove further after Jaitley announced long-term capital gains on the sale of shares above Rs 1 lakh would be taxed at 10%. Jaitley said Friday that that had been a "tough call". Also read: Sensex drops 324 points, Nifty below 11,000 on LTCG jitters He added Friday that the "manufacturing sector has picked up in the last few months". But that India has a serious challenge ahead of it when it comes to tax compliance and increasing the tax base. He added that tax rates in India are low. That no other country has a five per cent tax slab and that you cannot get slabs any lower than the ones we already have.

Stress in farm sector is real, Jaitley says day after Budget