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Newsletter | SBI’s ₹4 lakh crore loan pipeline; Apple insiders who could succeed Tim Cook & more
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
From SBI’s ₹4 lakh crore loan pipeline to a look at the Apple insiders who could succeed Tim Cook, here are the top 11 news stories across business, global events, tech, and more
Here are the top 11 news stories across business, global events, tech, and more —
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SBI has ₹4 lakh crore worth of loan proposals in pipeline, says Chairman Dinesh Khara
The State Bank of India (SBI) announced its financial results for the fourth quarter on Thursday, May 9. The state-owned lender’s profits rose by 24% over the previous year, far above street estimates. Net interest income (NII) inched up by more than 3% year-on-year, while asset quality improved, and advances in deposit growth were positive as well.
Speaking to CNBC-TV18, Chairman Dinesh Kumar Khara stated he expects growth in advances to continue. He added that SBI has ₹4 lakh crore worth of loan proposals in the pipeline. Khara also discussed the bank’s stance on RBI’s draft project financing rules.
Pfizer agrees to settle more than 10,000 Zantac cancer suits
Pfizer Inc. has agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug, according to people familiar with the deal, the biggest of the litigation.
The agreements cover cases in state courts across the US but don’t completely resolve the company’s exposure to Zantac claims, according to the people, who spoke on the condition of anonymity because they weren’t authorized to discuss the settlement publicly. Financial details of the accords weren’t immediately available.
JPMorgan says India index inclusion on track, most clients ready
JPMorgan Chase & Co. is on track to include India in its emerging market debt index from June with most of its clients ready to trade, according to the firm’s global head of index research.
“Based on the annual Index Governance Consultation process, market feedback so far has been largely positive, with the majority of our index clients already set up to trade in the IGB market,” managing director Gloria Kim said in an emailed reply to questions.
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Tech-dependency in warfare — why space infrastructure needs cyber shield
Recent and ongoing global conflicts are seeing a rapid shift towards technological dependency in Warfare. The two domains of warfare — the Space and the Cyber — have contributed to the ability where military tech-power is leading the current discourse in conflict. The use of outer space in war has a notable impact on battlefield transparency, speed, reach, and accuracy.
Space-based long-range missiles, drones, and aerial platforms have made skies vulnerable to top attacks. Nations with advanced space infrastructure have an edge over the adversarial military forces through prompt detection, recognition, identification, and target acquisition that makes them beat the opponent’s decision cycle. The ‘ear on the surface and eye in the sky’ is a lethal blend.
Who will succeed Tim Cook as Apple’s CEO once he retires
As Tim Cook, Apple’s CEO, continues to steer the tech giant through its successes and challenges, speculation mounts over who will take the reins when Cook eventually steps down. Cook took over as the CEO after Steve Jobs in 2011 and has led the tech giant ever since.
In Bloomberg’s recent The Big Take podcast, Mark Gurman joined host David Gura to discuss who could the crown eventually go to and one prominent figure often cited as a frontrunner is Jeff Williams, Apple’s current chief operating officer (COO). Interestingly, Cook was the COO under Jobs before being named the CEO.
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Gold prices near ₹72,000 per 10 grams on Akshaya Tritiya day: Will high rates deter demand?
Gold prices soared on the Multi Commodity Exchange (MCX) on the day of Akshaya Tritiya, an occasion when buying the yellow metal is considered auspicious. On Friday, May 10, 2024, gold futures maturing on June 5, 2024, reached ₹72,094 per 10 grams on the MCX.
This was ₹455 or 0.64% up from the previous close at ₹71,639 per 10 grams. The surge in gold prices isn’t confined to domestic markets alone; globally, gold prices also witnessed an upward trend. Spot gold climbed 0.2% to $2,350.87 per ounce by 0212 GMT, buoyed by recent economic data hinting at a potential interest rate cut from the Federal Reserve.
How to get gold and silver coins in 10 minutes?
As the auspicious occasion of Akshaya Tritiya approaches, quick commerce platforms are gearing up to provide customers with a seamless experience of acquiring gold and silver coins within 10 minutes. BigBasket, Swiggy Instamart, Zepto and Blinkit have all announced partnerships with brands to facilitate the swift delivery of precious metals to customers across India.
BigBasket has forged partnerships with Tanishq and MMTC-PAMP to offer its customers the opportunity to purchase gold and silver coins and bars, all delivered within 10-minute window through the BigBasket Now platform.
Bigbasketeers across different cities in India can choose from a selection of offerings including the MMTC-PAMP Lakshmi Ganesh silver coin (10 g), MMTC-PAMP Banyan Tree® silver bar (10 g), Tanishq 22 karat gold coin (1 g), and Tanishq 22 karat gold coin with Lakshmi motif (1 g).
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Tackling Urban Air Pollution in India with Tech Solutions | Jai Dhar Gupta Nirvana Being
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Vijay Shekhar Sharma’s latest venture is testing an Uber and Ola-like feature on ONDC
Vijay Shekhar Sharma’s Pai Platform, earlier known as Paytm E-commerce, is said to be testing a ride-hailing feature via the Open Network for Digital Commerce route. Users can book autos on the PAI mini app within Paytm, just like on Uber or Ola.
Sources told CNBC-TV18 that the ride-hailing feature is visible only to select customers on ONDC. ONDC stands for Open Network for Digital Commerce, a private portal for consumers to access products and services from multiple e-commerce platforms in one place. The government supports this initiative aimed at curbing online monopolies.
Elon Musk’s xAI nears funding at $18 billion value soon as this week
Elon Musk’s artificial intelligence startup X.AI Corp. is set to close its funding round at a valuation of about $18 billion as soon as this week, according to people familiar with the matter.
The size of the round hasn’t been finalised, the people said, asking not to be identified as the information isn’t public. The maker of AI chatbot assistant Grok was set to raise $6 billion in the round, whose participants include Sequoia Capital, Bloomberg News has reported.
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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
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