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Big draw: This season saw 88% customer growth, driven by about 40 million shoppers from Tier 2+ cities.

‘E-tailers clock $8.3 bn in Oct.-Nov.’

Special Correspondent Flipkart dominated festive season sale at 66%: Redseer

5hrs

Power surge: Electricity output rose by 10.5%, marking the second successive month of growth.

Core sector contraction widens to 2.5%

Special Correspondent Oct. output at 8 key industries dragged down as steel production shrinks again; cement posts growth

Fiscal deficit reaches 120% of annual target

PTI Gap widens due to poor revenues

A file photo used for representational purpose only.

Indian economy contracts by 7.5% in Q2

Special Correspondent China’s economy grew by 4.9% in July-September this year, faster than the 3.2% growth in April-June 2020.

Vodafone Idea partners with firms to add non-core revenues

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Hetero to produce Russia’s COVID-19 vaccine in India

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Adani tops DHFL bid with ₹33,000 crore offer

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LVB is the second private sector bank after Yes Bank that has run into rough weather this year. File

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

Reserve Bank of India (RBI) headquarters in Mumbai. File

₹4300 cr. collected as compound interest during moratorium returned, SC notes

Krishnadas Rajagopal The payments were made in compliance of a government payback scheme introduced on October 23

Burger King, which employs an average 20-25 people per store, is likely to generate an employment opportunity for additional 8,640-10,800 persons in its expansion plan.

Burger King IPO to open on December 2; price band fixed at ₹59-60 per share

PTI The company has reserved up to 10% portion of IPO for retail investors, up to 15% for non-institutional investors and up to 75% for qualified institutional investors

Union Minister for Petroleum & Natural Gas and Steel, Dharmendra Pradhan. File photo

LPG subsidy for BPCL consumers to continue post-privatisation: Pradhan

PTI The subsidy is paid in advance and consumers use this to buy LPG refills.

Opinion & Analysis

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PARLEY | Comment

Parley: Does the Budget do enough in providing a stimulus to growth?

Suresh Seshadri By not cutting spending despite constraints, the Budget ensures momentum doesn’t backslide

A government that is clueless on the economy

Pulapre Balakrishnan Listening to the Budget speech, one would hardly get any indication of either the economic slowdown or the unemployment rate, which is the highest in decades

A Budget exercise that is designed for stressed times

T.T. Ram Mohan The FM deserves credit for keeping the capital expenditure steady amid receipts shortfall; but her plan does not meet market expectations of sweeping reforms

Markets

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Burger King, which employs an average 20-25 people per store, is likely to generate an employment opportunity for additional 8,640-10,800 persons in its expansion plan.

Burger King IPO to open on December 2; price band fixed at ₹59-60 per share

PTI The company has reserved up to 10% portion of IPO for retail investors, up to 15% for non-institutional investors and up to 75% for qualified institutional investors

Rupee snaps 5-day winning run, falls 17 paise to 74.05 vs USD

PTI On Thursday, the rupee had appreciated by 3 paise.

Economy

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Fiscal deficit reaches 120% of annual target

PTI Gap widens due to poor revenues

A file photo used for representational purpose only.

Indian economy contracts by 7.5% in Q2

Special Correspondent China’s economy grew by 4.9% in July-September this year, faster than the 3.2% growth in April-June 2020.

Industry

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‘E-tailers clock $8.3 bn in Oct.-Nov.’

Adani tops DHFL bid with ₹33,000 crore offer

Vodafone Idea partners with firms to add non-core revenues

Hetero to produce Russia’s COVID-19 vaccine in India

Fiscal deficit reaches 120% of annual target

Burger King India IPO to raise upto Rs 810 crore

ALL’s U.K. arm Optare is now ‘Switch Mobility’

Ashok Leyland Ltd. (ALL), the flagship company of the Hinduja Group, has renamed U.K. arm Optare Group as Switch Mobility Ltd., as part of its drive

Core sector contraction widens to 2.5%

Oct. output at 8 key industries dragged down as steel production shrinks again; cement posts growth

Adani Transmission acquires 49% stake in KPTL firm

Adani Transmission Ltd (ATL) has acquired 49% stake in Alipurduar Transmission Ltd. from Kalpataru Power Transmission Ltd. (KPTL) with an agreement to

Tata Power raises ₹1,000 cr. via NCDs

Tata Power Ltd. has raised ₹1,000 crore through issuance of non-convertible debentures (NCDs), the company said in a filing with the stock exchanges.

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

All the branches of LVB will function as branches of DBIL with effect from November 27, the RBI had said in a statement

Indian economy contracts by 7.5% in Q2

Country enters technical recession.

₹4300 crore collected as compound interest during moratorium returned, SC notes

The payments were made in compliance of a government payback scheme introduced on October 23

Burger King IPO to open on December 2; price band fixed at ₹59-60 per share

The company has reserved up to 10% portion of IPO for retail investors, up to 15% for non-institutional investors and up to 75% for qualified institutional investors

Passengers can carry double check-in baggage in economy class of India-U.K. flights: British Airways

Passengers will now be able to take two pieces of check-in baggage, with each weighing a maximum of 23kg, British Airways said in a release.

Rupee snaps 5-day winning run, falls 17 paise to 74.05 vs USD

On Thursday, the rupee had appreciated by 3 paise.

Walt Disney increases planned layoffs to 32,000 as coronavirus hits park attendance

The layoffs will be in the first half of fiscal 2021, the company said in a filing with the Securities and Exchange Commission.

India to allow Uber and rivals to charge 20% commission

The final guidelines say drivers should receive 80% of the ride fare with the taxi companies receiving the remaining 20%.

Sensex drops 110 points; RIL, IT stocks weigh

NSE Nifty slipped 18.05 points.

LPG subsidy for BPCL consumers to continue post-privatisation: Pradhan

The subsidy is paid in advance and consumers use this to buy LPG refills.

Today's top business news: Shares flat ahead of GDP data, SBI says GDP likely contracted 10.7% in Q2, foreign ownership of US bonds at one of the lowest levels, and more

Updates from the world of economy, markets, and finance

E-tailers clocked $8.3 billion in sales during Oct-Nov festive period: Redseer

‘Flipkart Group dominated the sale events at 66%’

Foxconn to shift some Apple production to Vietnam to minimise China risk

Foxconn is building assembly lines for Apple's iPad tablet and MacBook laptop at its plant in Vietnam's northeastern Bac Giang province, to come online in the first half of 2021.

LVB writes off bonds worth ₹318 crore ahead of merger with DBS Bank

LVB will lose its identity on November 27 as it amalgamates with DBS Bank India Ltd.

Britain to curb Google and Facebook with tougher competition rules

Google and Facebook dominate digital advertising, accounting for around 80% of 14 billion pounds spent in 2019, Britain's competition regulator the CMA said.

Sensex, Nifty start on tepid note amid weak global cues

PowerGrid, Reliance Industries and TCS were among the laggards.

Rupee rises 11 paise to 73.77 against US dollar in early trade

The September quarter gross domestic product (GDP) number that is scheduled to be released.

Israel, India partners in quest for future with low carbon, pollution levels: Netanyahu

The Israeli PM was addressing digital conference of the India-led International Solar Alliance

All developers won’t meet debt rejig rules, says Keki Mistry

All real estate developers may not be able to avail of the benefit of Reserve Bank of India’s one-time restructuring scheme as they might not meet the

James Wolfensohn, former World Bank president, passes away

Wolfensohn was a guiding force for a couple of the most well-known cultural institutions in the U.S.

F.C. Kohli, father of Indian IT industry, passes away

Faqir Chand Kohli, (F.C. Kohli), known as the father of Indian Software Industry, passed away in Mumbai on Thursday afternoon following cardiac

F.C. Kohli set India on a path that brought it glory

‘He deserved the title Father of Indian IT industry’

SC rejects Skoda VW plea to quash FIR

The Supreme Court on Thursday dismissed a plea to quash an FIR registered against a company dealing with the business operations of luxury car brands

TII acquires control ofCG Power

Tube Investments of India Ltd. (TII), a Murugappa group firm, has acquired controlling stake in CG Power and Industrial Solutions with allotment of

NPCI raises ₹81.64 cr. from 19 entities

The National Payments Corporation of India (NPCI) has completed private placement of 4.63% of its equity shares worth ₹81.64 crore. NPCI made an offer

‘GDP contracted 10.7% in Q2’

Business activity index indicates further recovery in Q3: SBI

TVS Group firm to buy 100% stake in MFCS, arm

M&M to get minority stake in share swap

Norms on minimum information insurers need to maintain for probe notified

A set of regulations on the minimum information insurers and insurance intermediaries need to maintain to facilitate investigation by insurance

Top news of the day: Punjab farmers brave Haryana Police water cannons as they move towards Delhi; Nivar weakens into cyclonic storm, and more

The major news headlines of the day, and more.

Xiaomi, Boat earbuds top India's wireless hearable shipment list, report says

The overall wireless hearables shipment grew over 700% in the quarter compared with the previous year as working and studying from home continued to boost demand, the report noted.

Sensex rallies 432 pts on F&O expiry; financial stocks shine

After a volatile session, the 30-share BSE index ended 431.64 points or 0.98 % higher at 44,259.74.

Rupee settles 3 paise higher at 73.88 against US Dollar

At the interbank forex market, the domestic unit traded in a narrow range as rising COVID-19 cases offset positive sentiments surrounding the progress on the vaccine front.

Proposal to allow business houses into banking a ‘good-looking’ step in ‘bad direction’: Kaushik Basu

The proposal might lead to crony capitalism and eventual financial instability, says the former chief economist of World Bank

SC dismisses Skoda Volkswagen’s plea to quash FIR for alleged use of cheat device in car

A Bench of Chief Justice S.A. Bobde and Justices A.S. Bopanna and V. Ramasubtramanian pronounced the verdict and dismissed the plea

Recovery’s momentum stronger-than-expected, says RBI chief Shaktikanta Das

Need to watch demand sustainability amid downside risks from COVID-19 surge, he says.

France orders tech giants to pay digital tax

France last year applied a 3% levy on revenue from digital services earned in France by companies with revenues of more than 25 million euros here and 750 million euros worldwide.

SpaceX to press ahead with Starlink tests, delays commercial service

Elon Musk has said the Starlink service will be a crucial source of funding for his broader plans, like developing the super heavy-lift Starship rocket to fly paying customers to the moon and eventually trying to colonize Mars.

Amazon fined for not displaying mandatory information about products

The ministry has imposed a fine of ₹25,000 on Bengaluru-based Amazon Seller Services

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A medic fills a syringe with an experimental COVID-19 vaccine to administer it to a health worker during its trials at the Gujarat Medical Education and Research Society in Ahmedabad on November 26, 2020.

68K | Coronavirus | First ‘wave’ of COVID-19 vaccination to cover 30 crore Indians

Prime Minister Narendra Modi addressing the All India Presiding Officers Conference via video conference, on Thursday, November 26, 2020.

40K | Narendra Modi pitches for ‘One Nation, One Election’

President Donald Trump gets out of a golf cart as he plays golf at Trump National Golf Club, on Thanksgiving, in Sterling, Va., on November 26, 2020.

35K | Donald Trump says he will leave the White House if Electoral College votes for Joe Biden

A protester walks onto the pitch during play during game one of the One Day International series between Australia and India at Sydney Cricket Ground on November 27, 2020 in Sydney, Australia.

30K | Two protesters enter field during India-Australia ODI in Sydney

Residents of Pattinampakkam, mostly fishermen, run for safety as strong winds and waves picked up pace and move huge quantities of sand up to the road, a good distance away from the waterfront, in Chennai on November 25, 2020.

25K | Cyclone live updates | Nivar now a ‘severe cyclonic storm’ after making landfall

In Mamallapuram, a heritage town and popular tourist destination, huts were damaged in the strong winds and torrential rain. As rains lashed, troops of monkeys sought refuge under the decorative, cave-like arches, dotted with images of deities carved in stone at the ancient Sri Sthalasayana Perumal temple.

23K | Cyclone Nivar live updates | Over 1,000 trees uprooted, say officials

Stan Swamy. File

19K | Do not have a straw and sipper to give Stan Swamy, NIA tells court

15K | A clear reading of the Ayurveda surgery move

The Supreme Court of India in New Delhi.

9K | Protect the right of ordinary people to bail, Supreme Court tells judges