PayPal tops estimates amid surge in online shopping but outlook disappoints. By Anna Irrera, Niket Nishant and Eva Mathews (Reuters) - PayPal Holdings Inc Shares of the digital payments processor fell more than 6% in extended trade.
For the fourth quarter, PayPal expects adjusted profit to grow in a range of 17% to 18%, below analysts' estimated growth of about 24%, according to IBES data from Refinitiv. TikTok announces a new licensing deal with Sony Music Entertainment. Chinese short-video making app TikTok has announced a new licensing agreement with Sony Music Entertainment (SME).
As part of the deal whose financial details were not disclosed, TikTok will continue to offer songs from Sony Music artists for use by creators on its platform. "With this deal, the TikTok creator community will have access to sound clips from Sony Music's massive catalog of current hits, cutting edge new releases, emerging favourites, iconic classics and deep cuts from every genre of music for use in their TikTok content," the company said in a statement late on Monday. TikTok and Sony Music will work together to support greater levels of TikTok user personalisation and creativity on the platform, and drive new and forward-looking opportunities for fan engagement with SME's artists and music.
"TikTok is a leader in this space and we are pleased to be partnering with them to drive music discovery, expand opportunities for creativity and support artist careers". Voltas, RBL Bk: Nilesh Jain of Anand Rathi picks stks in this volatile mkt. BUY VOLTAS | TARGET: Rs 755 | STOP LOSS: Rs 700 The stock has provided a fresh breakout from a pennant pattern on the daily chart and has also been trading in a rising channel.
The momentum indicators and oscillators are in the buy mode on the weekly as well as daily scales which hint at a further positive momentum in the counter. The stock has also witnessed a build-up of a long position with the addition of approximately 18 per cent open interest. BUY RBL BANK | TARGET: Rs 190 | STOP LOSS: Rs 172 The stock has formed a symmetrical triangle formation on the daily chart and is on the verge of a breakout from the same. PNB Housing Finance set to prune corporate loan book by Rs 1,500 cr. Mortgage lender PNB Housing Finance (PNB HFC) plans to reduce corporate loan book by Rs 1,500 crore by March 2021 and is going in for a second round of rationalisation.
Hardayal Prasad, managing director (MD) and chief executive officer (CEO) said the company has built a strong balance sheet and will continue to rebalance its portfolio to build a robust retail franchise. There was a sell down and accelerated pre-payment of Rs 477 crore in the corporate book. "HFC remains steadfast in its strategy to bring down share of corporate book by end of the current fiscal year," Dayal said in an analysts’ call. The company is closely monitoring its corporate book and many accounts are in various stages of resolution.
Some of these resolutions are expected to fructify during the current financial year. Assets under management (AUM) stood at Rs 81,221 crore as on September 30, 2020, compared to Rs 83,495 crore as on June 30, and Rs 89,471 crore as on September 30, 2019. Biden works to push Black turnout in presidential campaign's final days. Joe Biden is spending the final days of the presidential campaign appealing to Black supporters to vote in-person during a pandemic that has disproportionally affected their communities, betting that a strong turnout will boost his chances in states that could decide the election.
Biden was in Philadelphia on Sunday, the largest city in what is emerging as the most hotly contested battleground in the closing 48 hours of the campaign. He participated in a "souls to the polls" event that is part of a nationwide effort to organise Black churchgoers to vote. Bajaj Auto reports 11% jump in total sales at 512,038 units in Oct. Bajaj Auto Ltd on Monday reported an 11 per cent increase in its total vehicle sales at512,038units in October.
The company had sold a total of463,208units in the same month last year, Bajaj Auto said in a regulatory filing. Domestic sales stood at281,160units last month, as against278,776 units in October last year, up 1 per cent, it added. Motorcycle sales grew by 18 per cent at470,290units, compared to398,913units in the year-ago month,itshighest ever sales. Bajaj Autosaid during October,Pulsar brand recorded sales of over 170,000 units.
Commercial vehicle sales stood at41,746units, as against64,295in the corresponding month last year, a decline of 35 per cent, the company said. After 26 yrs as HDFC Bank boss, Aditya Puri joins Carlyle as senior advisor. Soon after completing 26 year-long innings as HDFC Bank chief executive, Aditya Puri is now donning hat as senior advisor at global investment firm Carlyle.
Puri will advise the Carlyle team on investment opportunities across Asia. He will provide guidance on the evolving market landscape and new investment opportunities, Carlyle said in a statement. He would also advise Carlyle’s investment professionals and portfolio management teams on building differentiated high quality businesses. TVS will grow faster than industry both in domestic and global markets: CEO.
TVS Motor has said that capex for the FY21 would be around Rs 500 crore and it will go towards new product development and technology among others.
The company will also be supporting Norton, the UK brand which was acquired by the company early this year and the company's credit arm TVS Credit. Meanwhile TVS EBITDA during the second quarter rose to 9.3 per cent from 8.8 per cent, last year, and the company is optimistic about maintaining the momentum on the backdrop of a series of initiatives it has taken. K N Radhakrishnan, Director and Chief Executive Officer, TVS Motor said that capex includes development of new products, technologies, marketing and on international markets. "No projects are delayed," he said. People's bodies now run cooler than 'normal' - even in the Bolivian Amazon.
Feeling under the weather?
Chances are you or your doctor will grab a thermometer, take your temperature and hope for the familiar 98.6 degrees Fahrenheit (37 degrees Celsius) everyone recognizes as “normal.” But what is normal and why does it matter? Despite the fixation on 98.6 F, clinicians recognize that there is no single universal “normal” body temperature for everyone at all times. Throughout the day, your body temperature can vary by as much as 1 F, at its lowest in the early morning and highest in the late afternoon. It changes when you are sick, goes up during and after exercise, varies across the menstrual cycle and varies between individuals. India dealt China border crisis with firmness, maturity: Foreign Secy.
India has dealt with the "worst crisis" in decades along its border with China with "firmness and maturity" despite facing the challenge of the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Thursday.
In an address at a leading think-tank in Paris, Shringla mentioned two recent terrorist incidents in France, one of which he said had its origins in Pakistan, noting that the civilised world needs to act with firmness to address the threat of terrorism. Shringla said India and France face similar non-traditional security threats in the form of radicalism and terrorism, and the fight today is not against specific communities or individuals but against a "radical politico-religious ideology". Delving into major geo-strategic issues, he said the immediate challenges have not been able to distract India from broader strategic goals, especially in the Indo-Pacific Region where it is moving purposefully at multiple levels to create an "open, inclusive architecture". Germany to give $2.3 mn in humanitarian aid to Azerbaijan's conflict region.
Germany will allocate 2 million euros (over USD 2.3 million) for the International Committee of the Red Cross (ICRC) to provide Azerbaijan's breakaway region of Nagorno-Karabakh with humanitarian aid, Foreign Minister Heiko Maas said. "The Red Cross, which is currently the only humanitarian organization that has access to the conflict-hit region, has asked the international community to allocate 9 million euro in urgent aid. India strongly supports France against radical Islamism, says MEA. India has come out strongly in support of France which has risen against radical Islamism following the beheading of a teacher by a Muslim immigrant two weeks ago. In an official statement on Wednesday, the government said that it "strongly deplores the personal attacks in unacceptable language on President Emmanuel Macron in violation of the most basic standards of international discourse".
The Ministry of External Affairs, also condemned "the brutal terrorist attack that took the life of a French teacher in a gruesome manner that has shocked the world". The government offered its condolences to his family and the people of France. "There is no justification for terrorism for any reason or under any circumstance," the statement added. Here's what brokerages expect from TVS Motors' Q2FY21 numbers. TVS Motors is scheduled to announce its September quarter results of FY21 (Q2FY21) on Thursday and analysts are expecting a sub 10 per cent increase in the company's revenues on a year-on-year (YoY) basis, led by volume de-growth. According to the monthly sales data, TVS Motors sold 8.67 lakh units in Q2FY21, including 8.34 lakh 2-wheelers and 33,488 3-wheelers. In comparison, the company had sold 8.85 lakh units in the year-ago quarter.
At the bourses, shares of TVS Motors rose 14.78 per cent during the September quarter as compared to 9 per cent gain in the S&P BSE Sensex, ACE Equity data show. Deutsche Bank logs a profit of $214 mn in third quarter, beats estimates. Deutsche Bank reported a third-quarter profit of $214million, its third straight quarterly profit this year, as it saw fewer losses from selling off unwanted assets and revenues rose at its investment bank. CEO Christian Sewing said the bank was continuing to make progress on a long-term restructuring aimed at improving profits by shedding less profitable or riskier lines of business and cutting employee numbers. Meanwhile, Microsoft said sales rose 12 per cent to $37.2 billion, generating a net profit of $13.9 billion in the first quarter of its fiscal year. Analysts had anticipated the company to report $1.54 in earnings per share, generated from $35.72 billion in revenue.
In the aftermath of the beat, shares of the company are effectively flat, gaining only a fraction of a point in after-hours trading. Be very aware of consequences if Section 230 is tweaked: Sundar Pichai. Section 230 makes it possible for Google to provide access to a wide range of information -- including high-quality local journalism -- while responsibly protecting people from harm and keeping their information private, Alphabet and Google CEO Sundar Pichai has said.
Appearing before a US Senate hearing along with Twitter CEI Jack Dorsey and Facebook CEO Mark Zuckerberg late on Wednesday, Pichai said: "I would urge the Committee to be very thoughtful about any changes to Section 230 and to be very aware of the consequences those changes might have on businesses and customers". Section 230 states that "no provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider". Under the US law, Internet firms are typically exempt from liability for content that users post on platforms. Pichai said that Google is deeply conscious of both the opportunities and risks the internet creates. Embassy REIT raises Rs 750 crore via non-convertible debentures. Donald Trump slams media for 'blocking' alleged graft cases against Biden. US President Donald Trump on Tuesday slammed the mainstream media and big tech companies for blocking the alleged corruption cases against his opponent Democratic challenger Joe Biden.
Bihar: What is at stake for Modi in the first election after Covid-19? India’s eastern state Bihar goes to polls Wednesday in an exercise spread across two weeks. Are you eligible for refund under interest waiver scheme? Check new rules. The government on Tuesday evening issued ‘frequently asked questions’ on its scheme to refund the compound interest on loans by borrowers, during the loan moratorium period from March-August, 2020, following an ongoing petition in the Supreme Court. The government clarified that borrowers will be entitled to get a refund on an aggregate sum of Rs 2 crore borrowed from the banking system, due for repayment during this period. HSBC to accelerate restructuring plan as Q3 profit tumbles 35% due to Covid. HONG KONG/LONDON (Reuters) - HSBC Holdings PLC posted a 35% drop in quarterly profit, better than expected, as higher loan loss provisions on the economic fallout from the coronavirus pandemic were cushioned by the reining in of expenses.
Flipkart Group garners 68% of Rs 29,000 crore festive sales: Report. Deepika Padukone most beautiful celebrity, Amitabh most respected: TIARA. The Indian Institute of Human Brands (IIHB), led by adman Sandeep Goyal, on Tuesday, released findings of its TIARA Research report, billed as a comprehensive study of Indian celebrities. Covering 64 attributes across image, personality and human factors, the study has arrived at a score for celebrities called the TIARA ratings. The latter is an acronym for Trust, Identify, Attractive, Respect and Appeal. Aurobindo Pharma to sell US-based Natrol for about Rs 4,048 crore. We have an opportunity to replace China as global AC exporter: Blue Star MD. Amidst the pandemic, air conditioning and commercial refrigeration major Blue Star is seeing a pick up in demand for products catering to healthcare, pharma, FMCG, food industry and residential needs.
RBI encourages investment in sovereign bonds as part of liquidity measures. The Reserve Bank of India is making longer-tenor sovereign bonds attractive again. Compared to Modi and Erdogan, Trump is one of the world's lamer demagogues. Alibaba Group's Jack Ma slams financial regulators' curbs on innovation. Bharat Biotech gets go-ahead to conduct Phase-III trials of Covaxin. Credit growth inches up to 5.66% in October amid increased activity: RBI. Investors react to last Trump-Biden final presidential election debate. Payment system operators can't issue new proprietary QR codes, says RBI. Manchester Utd count cost of Covid disruption as EPL continues without fans. I will deliver optimism, opportunity; Biden will bring in pessimism: Trump. HDFC Bank m-cap tripled in 6 yrs. But this rare bear on the stock still made money.
Cyber security company McAfee Corp raises $620 million in US IPO. Asian stocks gain on US economic stimulus package hope, yuan surges. Nasa spacecraft touches asteroid surface to return alien samples to Earth. Realme 100W soundbar review: A basic audio system to complement smart TVs. Snapchat hits 249 mn daily users, sales up 52% in third quarter of 2020. CBI books former PNB deputy manager Gokulnath Shetty in bribery case. Foreign investors pour $538 mn into Indian bonds in Sept, turn net buyers.
Samsung Galaxy Watch 3 review: Elegant design lifted by modern features. Time to invest in cyclicals as economic recovery gathers steam: Analysts. PHDCCI chief Sanjay Aggarwal wants highest income tax rate cut to 25% Nokia wins $14.1 million NASA contract to set up 4G network on Moon. Jaguar Land Rover's new chief plans deep cuts to product line-up. China's economy is back-ish. Without it the world would be on thinner ice. Passenger vehicle industry's FY21 volumes expected to see 22-25% dip: ICRA. Is global logistics industry prepared to deliver Covid vaccines? Not quite.
Indices log gains for 10th straight day after rally in bank, finance stocks. Goldman's trading business returns to former glory amid Covid-19 crisis. iPhone 12: With a bigger and cheaper line up, Apple joins the 5G race. Indices rise for 9th straight day, post longest-winning streak since 2018. Food delivery volumes back to 85% of pre-Covid levels, says Swiggy. Apple HomePod Mini smart speaker: Know India pricing, sale details and more. Climate change poses 'profound threat' to global growth: IMF chief. Biden made corrupt bargain in exchange for his party's nomination: Trump.
As World Bank faces scrutiny, UN chief warns lenders over fossil fuels. $5 trillion investor group to lower portfolio carbon targets by 29% Hiring activities improve by 24% in Sept compared to month-ago: Report. Delhi University starts its first fully online admission process from today. Daewoong Pharma gets approval for Phase 1 trials of coronavirus drug. Facebook quietly removes 20% text limit on ad images. Joe Biden terms Donald Trump's remarks about Kamala Harris 'despicable' India's richest club sees nine new entrants; Ambani dominance continues. Google Pixel 4a and Nest Audio to be available on Flipkart from October 16.
American poet Louise Gluck awarded 2020 Nobel Prize for literature. Donald Trump tweets through Vice Presidential debate, says Pence 'GREAT' Eddie Van Halen: The musician who remade the guitar and made it the star. Fashion retail brand H&M India's revenue rises 14% to Rs 1,700 crore. Mars to be opposite, closest to Sun on October 13.
Biden against second presidential debate if Trump still suffers from Covid. Deutsche Bank CEO Sewing focused on strategy but won't rule out M&A. Harley fails, Hyundai triumphs: India's auto market is unlike any other. Mi Smart Speaker review: Perfect audio accessory for your smart home set-up. Mike Pence, Kamala Harris all set for vice-presidential debate on Wednesday. MagFast Beverages wins battle against PepsiCo to use trademark Mountain Dew. FB, Twitter, Google CEOs to testify before US Senate Committee on Oct 28. Dr Reddy's asked to resubmit application for trials of Russian vaccine. How one piece of hardware forced a full-day shutdown of Tokyo Stock Market. Fears of 'twindemic': Here is how flu symptoms differ from Covid-19.
Biden's safety protocols remain under wraps even after exposure to Trump. Adani Ports and SEZ completes acquisition of KPCL for Rs 12,000 cr. Swiggy, Zomato pause gamification feature after Google sends notices. India to build 100-bedded hospital, 22,000-seater stadium in Maldives. Google's Nest Audio smart speaker coming to India soon: What's new and more. Donald Trump to far-right extremists: 'Stand back and stand by' GlaxoSmithKline CEO optimistic Covid-19 vaccine widely available in 2021. Steady growth to record crash: How pandemic recast Trump's economic record.
Uber Technologies weighs purchase of BMW-Daimler ride-hailing venture. World Bank seeks board approval for $12 bn Covid-19 vaccine financing plan. Twitter Inc appoints Rinki Sethi as new information security head. Soy, oat, almond, rice, coconut, dairy: Which milk is best for our health? Microsoft to release update allowing iPhone users to play Xbox games soon. Cyberattack hobbles Universal Health Service's hospitals across US. Global leaders at UN meet: If virus does not kill us, climate change will. Life support helped many critically ill Covid-19 patients survive: Study.
Local preference move unlikely to give push to solar gear makers. US voters believe winner of election should fill court vacancy, shows poll. FB suspends fake Russian accounts, warns of US polls hack-and-leak threat.