10:46 A.M.
Mastercard chairman Ajay Banga to retire at year-end
Mastercard Inc said on Tuesday Chairman Ajay Banga would retire on Dec. 31, nearly a year after he stepped down as the payment processor’s chief executive.
The company said current lead independent director Merit Janow would be the non-executive independent chair and would assume her new role on Jan. 1, 2022.
Mastercard Chairman Ajay Banga.
| Photo Credit: Reuters
10:41 A.M.
Rupee slips 11 paise against U.S. dollar in early trade
The Indian rupee depreciated 11 paise to 73.72 against the U.S. dollar in opening trade today, tracking a strong greenback in the overseas market, PTI reported.
At the interbank foreign exchange, the rupee opened at 73.70 against the dollar, then fell further to 73.72, registering a decline of 11 paise from the last close.
Forex traders said a positive trend in domestic equities and sustained foreign fund inflows supported the rupee, but firm crude oil prices and broad strength in the U.S. dollar index dragged the local unit down.
10:26 A.M.
U.S. government panel reviewing Zoom deal to buy Five9
A U.S. Justice Department-led committee is reviewing Zoom Video Communications Inc’s proposed $15 billion all-stock deal to buy cloud-based call centre operator Five9 Inc, Reuters reported, citing a letter filed with U.S. regulators.
The Aug. 27 letter filed with the Federal Communications Commission said the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector — known as “Team Telecom” — is reviewing to see if the deal “poses a risk to the national security or law enforcement interests.”
10:12 A.M.
ADB cuts India growth forecast to 10%, sees faster inflation at 5.5%
The Asian Development Bank has cut its forecast for India’s GDP growth in 2021-22 to 10%, from 11% projected earlier, with downside risks dominating the economic outlook. The ADB also sees rising input costs fuelling inflation to a faster 5.5% pace, than the 5.2% previously estimated.
10:02 A.M.
Govt extends Uday Kotak’s term at IL&FS for another 6 months
The Government of India through a gazette notification has extended the term of banker Uday Kotak as the non-executive board member & chairman of scam hit Infrastructure Leasing & Financial Services Ltd (IL&FS) for a period of six months till April 2, 2022.
Uday Kotak.
9:46 A.M.
Sony Pictures, Zee Entertainment initiate merger talks
Sony Pictures Networks India and Zee Entertainment Enterprises Ltd. on Wednesday said they had entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and programme libraries.
9:43 A.M.
IPO-bound Paytm employees add 5.45 lakh more shares for monetisation
Digital payments and financial firm Paytm has received over 5.45 lakh shares from around 20 more employees for monetisation in its upcoming IPO.
Earlier, 200 former and current employees had converted their ESOPs into shares, taking the total count of employees to around 220.
9:34 A.M.
BSE adds 1 crore investor accounts in 107 days
Premier bourse BSE has added 1 crore registered investor accounts to its platform between June 6 and September 21, taking the total to over 8 crore in a span of just 107 days.
On June 6 this year, the exchange had said its registered user base has crossed the 7 crore mark, which was an addition of 2 crore registered investor accounts in a little over 12 months.
9:17 A.M.
Indian benchmark indices open higher
Indian indices opened higher today. Sensex opened at 59,166.15, up 160.88 points, while Nifty opened at 17,580.90, up 18.90 points.
On Tuesday, the 30-share Sensex ended 514.34 points or 0.88% higher at 59,005.27, while the NSE Nifty surged 165.10 points or 0.95% to 17,562.
9:09 A.M.
Asian stocks find some footing after Evergrande relief
Stocks found support today after teetering developer China Evergrande said it would pay some bond interest due on Thursday, allaying fears of an imminent and messy collapse that had spooked investors, Reuters reported.
Markets in Taiwan and China reopened lower after a two-day break, catching up with a sharp sell-off around the world triggered by concern over Evergrande’s predicament, but were soon paring losses as the payment promise buoyed the mood, the report noted.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.3% lower mid-morning. Japan’s Nikkei fell 0.6%, while Australian shares rose 0.7%. Hong Kong markets were closed for a holiday.
9:00 A.M.
Wall Street ends near flat on cautious note ahead of Fed meeting
U.S. stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday’s Federal Reserve policy news keeping a lid on the market, according to a Reuters report.
Trading was choppy, with the Dow and S&P 500 erasing session gains just before the close, while the Nasdaq finished slightly higher.
The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.
A sign for Wall Street hangs in front of the New York Stock Exchange. File
| Photo Credit: AP
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