Klips for 9th July

US vs China import tariffs. Source: NYT

GoM recommends removal of ‘reverse charge’ mechanism under GST

  • It is an anti-evasion measure and its removal is likely to benefit small traders
  • Another GoM recommends delaying incentives for Digital payments of GST

Thai operation: 4 kids rescued, 8 more still trapped

  • 12 kids who are part of a soccer team have been trapped in a tunnel in Thailand for more than 17 days
  • Unprecedented event as 90 divers, 50 of whom are international divers, try and save the boys

Jet Airways grounds new Boeing 737 Max plane again

  • The airline has placed an order for 225 such planes

Opinion: How to Lose a Trade War – Paul Krugman

https://mobile.nytimes.com/2018/07/07/opinion/how-to-lose-a-trade-war.html

Interesting: I’m Sorry I Criticized You, Apple. You Win.

https://www.bloombergquint.com/view/2018/05/02/i-m-sorry-i-criticized-you-apple-you-win

Klips for 7th July

Brazil’s Neymar during 2-1 loss to Belgium. Source: Reuters

Nawaz Sharif sentenced to 10yrs in jail, ahead of general elections on 25th July

  • Daughter also sentenced to 7yrs in jail
  • Both found guilty of corruption. Matter linked to Panama papers scam regarding flat purchases in LondonImran Khan, prime candidate in elections, hails decision

Belgium beat Brazil 2-1 to enter Semi Final

  • Will face France who beat Uruguay
  • Brazil has exited QF stage 3rd time in 4 WCs
  • All South American teams eliminated, only European teams remain

Tour de France starts today, final stage on 29th July


Opinion: Making America Unemployed Again

https://nyti.ms/2lW9fCP

Opinion: Passing the buck – On government’s response to lynchings

https://www.thehindu.com/opinion/editorial/passing-the-buck/article24343323.ece

Interesting: Netflix is ditching user reviews

https://techcrunch.com/2018/07/06/netflix-is-ditching-user-reviews
*Read comments

Klips for 6th July

Jio Phone 2. Source: Bloombergquint

Jio announces Jio Phone 2, set to launch Fiber based broadband services

  • Jio Phone 2 to cost 2999 and will be available from Aug 15
  • Will feature custom apps for WhatsApp, YouTube, FB
  • Will run on Kia OS which is used by Jio Phone, which has sold 25mn units

Boeing to buy 80% stake in Embraer for $3.8bn

  • Gives Boeing foothold in smaller planes category to compete against Airbus – Bombardier combine
  • Values Brazilian manufacture Embraer at $4.75bn

Law Panel: Allow gambling in sports, but regulate it

  • Proposal to allow cashless gambling to increase govt revenues through taxes
  • Will be a blow to traditional gambling which is banned and doesn’t accrue any revenue to the state
  • Proposal to cap number of gambling transactions, link them to Aadhaar, PAN

Opinion: Modi’s bonanza to Indian farmers hampered by funds, storage

http://in.reuters.com/article/us-india-crop-support-prices-analysis/modis-bonanza-to-indian-farmers-hampered-by-funds-storage-idINKBN1JV0OZ

Interesting: Tagwalk Wants to Be the Google of Fashion

https://nyti.ms/2NsHkqO

Klips for 5th July

Government raises MSP for Kharif crops

  • MSP for rice paddy by 13%. MSP also raised for Jowar, Bajra, Maize and Ragi
  • Will result in additional spending of Rs. 15000cr by Govt
  • Move seen as a way to appease farmers in election year, likely to add 35 bps to headline inflation
*MSP: Minimum Support Price, bps: basis point (100bps = 1%)

RBI grants Bank of China license to set up branch in India


SC gives 535 page judgement in LG – AAP standoff regarding Delhi governance

  • States that real power rests with Council of Ministers
  • All decisions must be conveyed to LG but his concurrence is not needed in all matters

Opinion: The paradox of Job growth

https://www.thehindu.com/opinion/lead/the-paradox-of-job-growth/article24333417.ece

Interesting: FT’s picks of the top 8 Business books this summer

https://amp-ft-com.cdn.ampproject.org/c/s/amp.ft.com/content/dc6bcae6-7a6f-11e8-bc55-50daf11b720d
*Paywall possible

 

Klips for 4rd July

WhatsApp Image 2018-07-04 at 7.24.46 AM
UPI Payments Trends. Source: Bloombergquint

WhatsApp gets warning from IT ministry as fake news leads to instances of mob lynching

  • Fake news about child abductions have lead to lynchings in Assam, Maharashtra, Karnataka, Tripura, WB and TN

Maharashtra softens plastic ban for e-comm companies

  • For assets >E comm companies can use plastic for 3 months
  • Move attributed to lobbying by Amazon, Pepsi, Coca Cola and HM as per Reuters sources

England end penalty curse, enter QF

  • England hadn’t won on penalties for 30 years
  • Beat Colombia 4-3 in shootout

UPI transactions record fastest growth in 6 months

  • Transactions grew to 246.4mn in June from 189.5mn in May, a 30% increase
  • Increase attributed to 9 new banks being added (from 101 to 110)

Opinion: Sashakt Means Empowered… To Make No Decisions

https://www.bloombergquint.com/opinion/2018/07/03/sashakt-means-empowered-to-make-no-decisions

Interesting: Delivering Amazon Packages to the Top of the World – Leh

https://nyti.ms/2KDaLo0

Klips for 3rd July

WhatsApp Image 2018-07-03 at 5.17.03 AM
Federer debuts his Uniqlo wear at Wimbledon. Image: Reuters

Small traders stage protest against Flipkart-Walmart deal

  • Expected turnout was 1mn traders
  • However actual turnout was far lesser as per eye witnesses

Govt unveils Sashakt, a 5-point scheme to tackle bad loans

  • For assets >Rs 500cr an AMC will be set up
  • Bankers can also setup platform to trade assets
  • As of 31st March, bad loans across listed banks stood at >Rs 10 lakh crore

*AMC: Asset Management Company


Federer signs $300mn deal with Uniqlo, after contract with Nike expires

  • Uniqlo is a Japanese fashion brand
  • Interestingly the contract is for 10yrs which is likely to last well beyond Federer’s retirement
  • 132nd edition of Wimbledon commences (2nd July – 15th July)

Come from behind Belgium score in last minute to beat enter QF, beat Japan 3-2


Lyft follows Uber into bike sharing with acquisition of CitiBike owner


Opinion: Innovation Can’t Fix Urban Transportation’s Woes

https://www.bloombergquint.com/view/2018/07/01/ride-sharing-and-other-services-can-worsen-urban-transportation

Interesting: Making money through businesses on Instagram

https://www.bloombergquint.com/business/2018/07/02/inside-instagram-s-master-class-for-future-social-media-tycoons

Klips for 2nd July

 

whatsapp-image-2018-07-02-at-8-25-59-am-e1530503553495.jpeg
Tesla produces 7000 cars in 7 days. Image source: Twitter

Russia register shock win, eliminate Spain to reach QFs

  • Win 4-3 on penalties after game ended as a draw

Delhi family deaths: occult ritual suspected

https://www.thehindu.com/news/cities/Delhi/delhi-family-deaths-occult-ritual-may-have-gone-awry/article24305801.ece

Jet Fuel prices reduced by 2.7%

  • Follows two hikes in May and June (7%), following rising crude oil prices
  • The price for ATF, LPG and kerosene are revised on the 1st of every month, ‘based on average international rate and rupee-US dollar exchange rate in the preceding month’

Tesla now produces 5000 cars a week

  • Meets Model 3 production goal

Opinion: The GST Experience – By Arun Jaitley

https://www.bloombergquint.com/gst/2018/07/01/the-gst-experience-by-arun-jaitley

Interesting: Shopping shock: Amazon in Australia

https://espresso.economist.com/856b1cacaea25f6ebbf01b0003030a0b

Klips for 30th June

Source: Hindu

Piyush Goyal: Not all Swiss bank money is black money

  • Finance Minister was responding to reports of 50% increase in Swiss bank deposits by Indians

Thyssenkrupp forms Joint Venture with Tata Steel

  • Combined entity will be Europe’s 2nd biggest steel company after ArcelorMittal

Monsoons cover entire India, fortnight ahead of schedule


Anti-rumour campaigner lynched in Tripura

https://www.thehindu.com/news/national/other-states/campaigner-against-rumours-lynched-in-tripura/article24294471.ece

Opinion: GST – A broken Tax Chain

https://www.thehindu.com/opinion/op-ed/a-broken-tax-chain/article24294420.ece

Interesting: Can Netflix Beat Bollywood?

https://www.bloombergquint.com/businessweek/2018/06/28/can-netflix-beat-bollywood

Klips for 29th June

rupee
Rupee breaches 69 to dollar Source: Mint

Rupee breaches 69, at all time low

  • Settles at 68.79 after reaching low of 69.09
  • Has depreciated 7% this year and is worst performing Asian currency
  • Fund flows out of India, monetary tightening in US, are primary reasons for fall

Pvt plane crashes in Mumbai, 5 killed

  • Plane crashes into construction site near Ghatkopar
  • Belonged to UY Aviation, originally bought by UP govt
  • Interestingly, plane had crashed previously in Allahabad and has had history of incidents

Trump-Putin summit in Helsinki on 16th July

  • Summit one day after WC finals (15th July)

Amazon buys PillPack for ~$1bn, gets into online pharmacy


Opinion: 2+2 Dialogue – The deepening discontent

https://www.thehindu.com/opinion/lead/the-deepening-disconnect/article24281893.ece

Opinion: Listening In: Govt monitoring social media chatter

https://www.thehindu.com/opinion/op-ed/listening-in/article24281817.ece

Interesting: Money parked by Indians in Swiss banks rose over 50% to ₹7000 crore in 2017

https://www.bloombergquint.com/business/2018/06/28/indian-money-in-swiss-banks-rises-50-reversing-three-year-decline

Klips for 28th June

Apple, Samsung settle US patent dispute

  • No clear winner in 7 year patent dispute
  • Samsung likely to pay Apple $140mn in addition to the previous amounts of $599mn and $399mn
  • However, penalties are insignificant when compared to the legal fees both parties paid

Germany crash out of World Cup, beaten 2-0 by South Korea
Brazil show class, beat Serbia 2-0 and move to knockouts

  • Germany continue pattern of previous winners being eliminated at group stage
  • This has been true since France was eliminated in 2002 after winning WC 1998 tina secure escape from group stage

US Ambassador to UN, Niki Haley meets Modi on India visit, Iran sanctions discussed


Center to scrap UGC, to set up Higher Education Commission of India


Rupee at 19 month low on higher oil prices


Interesting: Can this Exclusive Dating App help celebrities hook up?

https://nyti.ms/2lzVIAF

Opinion: Retail therapy: pharmacies

https://espresso.economist.com/e1360bb1174a56e62f5a7d1194950342