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[ad_1] MUMBAI: Two months on from its explosive report into Gautam Adani ’s acquisitive conglomerate, short seller Hindenburg Research has left the Indian billionaire’s empire chastened and reevaluating its ambitions. Hindenburg’s allegations of extensive, years-long corporate fraud at the Adani group have wiped out about $125 billion in market value since January, spurring the tycoon to rein in plans to expand into new sectors, according to people familiar with the company’s inner workings. The group, which racked up one of India’s heftiest debt loads to fund fresh areas of growth, is pulling back from petrochemicals and is unlikely to go ahead with a planned $4 billion greenfield coal-to-polyvinyl chloride project in Mundra, western India, said the people, asking not to be identified on what are internal discussions. It’s also dialing back on ambitions to dive further into aluminum, steel and road projects, said the people. Instead, Adani — who has been closely associated wit

[ad_1] NEW DELHI: The Centre on Friday said that the total number of Jan Dhan accounts has crossed 50 crores with deposits above Rs 2.03 lakh crore in them. According to the latest reports submitted by the banks, 56% of the accounts belong to women and whereas 67% of accounts have been opened in rural/semi-urban areas. About 34 crore RuPay cards have been issued in these accounts free of cost, the Centre said. The average balance in PMJDY accounts is Rs 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits. [ad_2] Source link https://worldnews2023.com/business/total-number-of-jan-dhan-accounts-crosses-50-crores-with-deposits-above-rs-2-03-lakh-crore-centre-times-of-india/?feed_id=297917&_unique_id=661f3d12ac055

[ad_1] A panel of independent advisors to the Food and Drug Administration unanimously recommended Thursday that the antibody nirsevimab be approved for use to protect infants from respiratory syncytial virus , the leading cause of hospitalization among newborns. If the FDA approves nirsevimab, the antibody would become the first medical intervention available in the U.S. that can protect all infants from RSV . The FDA, which is not obligated to follow the recommendation of its advisory panel, is expected to make a final decision on nirsevimab in the third quarter. Nirsevimab is a monoclonal antibody made by AstraZeneca . The medication would be marketed by Sanofi . The advisory panel voted 21-0 to recommend its approval. In a separate vote, the advisors also recommended nirsevimab's use in children up to 2 years old who remain vulnerable to the virus in their second RSV season. That vote was 19-2. RSV kills nearly 100 babies in the United States every year, according to sci

[ad_1] A vial labelled "Novavax V COVID-19 Vaccine" is seen in this illustration taken January 16, 2022.  Dado Ruvic | Reuters Novavax 's updated Covid vaccine won the backing of U.S. regulators on Tuesday, putting the shot on track to roll out weeks after new jabs from Pfizer and Moderna reached Americans. The Food and Drug Administration authorized Novavax's single-strain vaccine, which targets omicron subvariant XBB.1.5 , for emergency use in people ages 12 and up. The Centers for Disease Control and Prevention is now including Novavax's shot in the same recommendation it issued last month for updated vaccines from Pfizer and Moderna. That recommendation says all Americans ages six months and older can receive an updated Covid jab. Novavax said in a statement that doses of the shot will likely be available within the next few days. "Novavax's authorization today means people will now have the choice of a protein-based non-MRNA option to help

[ad_1] CNBC's Jim Cramer called out General Electric as a winner in the industrial sector for the strides it's making in nuclear power. GE's Verona Nuclear Fuel business said Wednesday it received approval from the U.S. Nuclear Regulatory Commission to manufacture, ship, and analyze the performance of higher enrichment fuel. These "regulatory milestones" will help the company "innovate to help our customers run their plants even more efficiently and be ready to support the next generation of reactor technology," according to the press release . GE shares were trading about 2% higher on the news. GE YTD mountain GE stock performance year to date. "[General Electric] just keeps going higher," Cramer said Wednesday. While that's mainly due to demand for its aircraft engines, Cramer added that investors "love any way to be able to make nuclear fuel work." In November 2021, GE announced plans to split and form three publicly trade

[ad_1] There's Eli Lilly (LLY), and then there's everybody else. That's a simple way to describe the performance of the Club's health-care holdings so far this year, in what's been a challenging period for the industry overall. Of the 11 market sectors year to date, health care is the fourth worth-worst performer, falling 4%, followed by consumer staples (down 4.2%), real estate (down 5.8%) and utilities (down 10%). Our standout is unquestionably Eli Lilly, which has soared 50% in 2023 on the promise of its experimental weight-loss and Alzheimer's drugs, making it the most-valuable health-care company in the world. Lilly's run really started in last year's terrible market, soaring more than 30% compared to the S & P 500's nearly 19.5% plunge in 2022. That's a nearly two-year return of almost 100%. LLY XLV YTD mountain Eli Lilly's year-to-date stock performance compared with the XLV, a major ETF that tracks the health-care sector. Lil

[ad_1] Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Stock futures were little changed Tuesday after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Futures tied to the Dow Jones Industrial Average rose 35 points, or 0.1%. Meanwhile, S&P 500 futures traded around the flatline, and Nasdaq-100 futures dipped 0.1%. Lyft shares gained 4% in the premarket after the ridesharing company announced a new CEO and that its cofounders would step away from their day-to-day roles. PVH Corp. shares popped 12% on strong quarterly results. The moves follow a mixed session on Monday. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. The Nasdaq Composite dipped 0.47% as tech stocks moved lower. A slew of positive news reports helped lift sentiment on Wall Street, including First

[ad_1] Mbbirdy | E+ | Getty Images The population of the super wealthy, or those worth $100 million or more, doubled over the past 20 years as asset prices soared around the world, according to a new report . There are now 28,420 so-called centi-millionaires worldwide, up 12% over last year and more than twice the number in 2003, according to a new report from Henley & Partners , a wealth and migration advisory firm, which used data from New World Wealth . The surge in centi-millionaires reflects the rapid rise in asset values fueled by low interest rates, which boosted the values of everything from real estate and land to stocks, private companies and art. The rise of tech wealth, especially in the U.S., has also helped fuel the growth in the super wealthy. The number of billionaires in the world has skyrocketed from under 500 people in 2003 to more than 2,600 people today, according to Forbes and other wealth-tracking firms. Low interest rates and the resulting flood of mone

[ad_1] A customer pushes a shopping cart full of groceries outside a Wal-Mart in Rogers, Arkansas, left, and a pedestrian passes a Target store in the Tenleytown neighborhood of Washington, D.C. Getty Images Target and Walmart are both catering to thriftier shoppers, but the two big-box retailers have seen very different outcomes when it comes to winning their dollars. Target missed Wall Street's sales expectations for the fiscal second-quarter. Walmart beat Wall Street's revenue estimates for the three-month period. Target slashed its forecast for the year, while Walmart raised its outlook. The companies' diverging performances illustrate some of the retailers' fundamental differences. Walmart, the nation's largest grocer, makes more than half of its annual revenue from selling groceries — a category that shoppers buy even when times are tight. Target draws only about 20% of its yearly revenue from grocery, making it rely more on sales of items such as cl

[ad_1] Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September , as part of a broad effort to cut costs and streamline operations, the company said Thursday.  The layoffs will affect roles at Gap's headquarters locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarters office, the company said. CNBC reported Tuesday that the company would lay off more than 500 employees. The job cuts come as the apparel retailer struggles to return to profitability while sales sag. The layoffs are expected to result in annualized savings of $300 million, Gap's interim CEO, Bob Martin, said in a statement. Gap expects to see half of those savings in 2023, and expects to complete the layoffs by the end of July, according to a securities filing. "We are taking the necessary actions to reshape Gap Inc. for the future — simplifying and optimizing our

[ad_1] An undated editorial photo of Chinese yuan cash bills and the flag of the People's Republic of China. Javier Ghersi | Moment | Getty Images China's consumer prices were flat in September, while factory gate prices saw annual declines slow for a third month — pointing to the uneven post-Covid recovery in the world's second-largest economy that may require further policy support. Consumer price index for September was flat on an annual basis, the National Bureau of Statistics reported Friday , below than the median estimate for a 0.2% increase in a Reuters poll. CPI inched up 0.1% in August for the first year-on-year increase in three months. Core inflation — excluding energy and food prices — however, climbed 0.8% in September from a year earlier, the bureau said in a separate statement . This rate of increase was similar to the one recorded in August. China's producer price index fell 2.5% from a year earlier , weaker than expectations for a 2.4% decline, af

[ad_1] A man enters a building with rental apartments available in New York City. Eduardo Munoz Alvarez | VIEW press | Corbis News | Getty Images Median rents in Manhattan hit a new record in January as a strong job market and limited supply of apartments lifted prices. The median rental price rose 15% to $4,097 from the year-earlier month — the highest ever in January, according to a report from Douglas Elliman and Miller Samuel . The average rent in Manhattan was $5,142, up 13% over January 2022. Analysts and real estate experts had expected rents to start falling in January after record surges late last year. But despite a cooling economy and high-profile layoffs in finance and tech, rental demand in Manhattan remains strong. "We're not seeing rents fall in any meaningful way" said Jonathan Miller, CEO of Miller Samuel, a real estate appraisal and research company. "They're really just moving sideways." Analysts say the main driver for Manhattan&

[ad_1] Still from Universal and Dreamworks' "How to Train Your Dragon 2." Universal | Dreamworks Universal Pictures and DreamWorks Animation are taking a page out of Disney's playbook. For the last decade, the Walt Disney Company has been transforming its classic animated features into live-action theatrical and streaming features. Earlier this week, Universal said it would be doing the same for one of its own animated franchises: How to Train Your Dragon. The live-action adaptation based on the 2010 film about the friendship between a young man and his dragon is due in theaters March 14, 2025. Dean DeBlois, who wrote and directed all three films in the animated trilogy, is on tap to write and direct the live-action version. The films' story was based on the best-selling book series by Cressida Cowell. Universal's decision to translate the successful animated franchise to live action has precedent. Since 2010, Disney has released 11 theatrical live-acti

[ad_1] Vande Bharat sleeper train soon! Indian Railways is all set to roll out the first sleeper variant of the Vande Bharat Express in the coming months. The new Vande Bharat sleeper train, which is said to be superior to Rajdhani Express , is being manufactured by BEML in collaboration with Indian Railways Integral Coach Factory. The production work for the first prototype of the Vande Bharat sleeper train commenced in October-end last year.Sources have told TOI that the train is expected to be ready in February-March. How will the Vande Bharat sleeper train be better than the Rajdhani Express? TOI has exclusively learnt of some additional passenger-friendly features in the Vande Bharat Express that are better than the premium Rajdhani Express and Tejas Express trains that currently run on the Indian Railways network. For example, keeping in mind the comfort of passengers, extra cushioning on the side of the berths has been provided so that when passengers turn while sleeping

[ad_1] A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport in California on March 13, 2019. Justin Sullivan | Getty Images United Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during inspections spurred when a panel of that type blew out during an Alaska Airlines flight using that type of aircraft last week. Alaska Airlines later Monday said its initial inspections of the jets had turned up "loose hardware" and that, "No aircraft will be returned to service" until formal reviews are complete. "The safety of these aircraft is our priority and we will take the time and steps necessary to ensure their airworthiness, in close partnership with the FAA," Alaska Airlines said in a statement. The Federal Aviation Administration on Saturday grounded dozens of 737 Max 9s after the panel blew out midflight on Alaska Flight 1282. Alaska has 65 of the Max 9 planes in it