June ’19

Week 2 Week 3 Week 4 Week 5
Klips for 1st June

World 🌎 | 12 killed in mass shooting by disgruntled employee in Virginia, USA
– The suspect was also shot down by the police
Reuters: https://reut.rs/2QDyRCO

National 🇮🇳 | Amit Shah gets Home Ministry, Sitharaman gets Finance in new Cabinet
– Rajnath Singh allocated Defence while surprise entrant, S Jaishankar, is the External Affairs Minister
– Sitharaman is the first woman FM since Indira Gandhi held it as an additional charge
Complete list of portfolios: http://bit.ly/2I7fiz6

Economy & Business 💰 | GDP growth at 6 yr low, unemployment at 45 year high
– GDP growth for Q4 was 5.8 while for the full year (2019) was 6.8%
– Unemployment was at 6.1%, which confirms the data leaked before the elections
– On the other hand, India’s per capita income rose 10% to ₹10,534
Livemint: http://bit.ly/2WgRQJC

Union budget to be presented by new government on 5th July

Govt extends cash support programme to another 25mn farmers
– Under the scheme announced in the interim budget, farmers would get ₹500 pm (ie ₹6000 a yr), but limited to land upto 2 hectares
– The scheme has now been extended to farmers without this restriction
Reuters: https://reut.rs/2JPpZcZ

Op-Ed 📝
Opinion: Modi’s Key Woman Needs Strongman-Handling Skills
– On what the new FM as well as External Affairs ministers need to focus on
Bloomberg: https://bloom.bg/2Ig2A0P

Interesting: Goodbye BBM
– 31st May marked the last day for the consumer version of the iconic Blackberry Messenger
Techcrunch: https://tcrn.ch/2Wh6UH9

Klips for 3rd June

National 🇮🇳 | Tit-for-tat: Nitish ignores allies in Bihar Cabinet
– This is in repose se to the JD(U) being offered only 1 Cabinet ministry at the centre when its demand was a minimum of 2
– ‘We have decided that in future also the JD(U) will never be a part of the BJP-led Union cabinet. This is our final decision’, said KC Tyagi, the party’s general secretary
Livemint: http://bit.ly/2KowLFV

First flight via Pakistan lands after 3 months
– Both countries had imposed airspace restrictions since the air strikes in Feb
Hindu: http://bit.ly/2Kl01xd

Kejriwal: Plan to make Delhi metro, bus travel free for women
– The Delhi CM made the announcement at a public meeting saying the move is meant to encourage use of public transport
– Delhi elections are due early next year
Hindu: http://bit.ly/2KoxZ3Z

Economy & Business 💰 | GST collections cross ₹1L cr in May
– This is the 3rd successive month when collection have crossed ₹1Lcr
– While the amount was 6.7% higher than last year, it’s below the govt’s expectations (₹1.14L Cr)
Livemint: http://bit.ly/2WAaziN

SpiceJet to hire upto 2000 Jet staff, says Ajay Singh
– SpiceJet has already taken 22 Jet Airways planes and about 1100 staff

Tech 📱 | Apple likely to discontinue iTunes at developer event
– Apple is likely to announce 3 different MacOS apps to replace iTunes at WWDC
Bloomberg: https://bloom.bg/2WGUZls

Sport ⚽️ | Bangladesh upset SA in high scoring game
– Both sides scored 300 plus runs

UEFA Champions League: Liverpool crowned European champions after beating Tottenham in final

Interesting: One off supercars – Bugatti’s $13.5mn La Voiture Noire
– An interview with Bugatti’s head of Design on this new strategy
Bloomberg: https://bloom.bg/2WGUZls

Klips for 4th June

National 🇮🇳 | Post backlash from TN, mandatory Hindi our of draft education policy
– However the draft still recommends a 3 language policy from class 1
Hindu: http://bit.ly/2XnfGjx

🗣IAF plane with 13 onboard missing over Arunachal Pradesh
Hindu: http://bit.ly/2wCU9r2

Economy & Business 💰 | After subdued Uber IPO, SoftBank to focus on smaller size investments in India
– SoftBank was known for making large ticket size investments like it did in Flipkart
– However, it has recently come under pressure and hence is said to focus on smaller investments
Livemint: http://bit.ly/2XuKI9e

Fitch downgrades ICICI Bank and Axis Bank
Livemint: http://bit.ly/2wyGZeV

Tech 📱 | With focus on privacy, Apple introduces ‘Signin with Apple’ option
– The option is meant to help users protect their data as they sign in on web services
– Traditionally users generally choose between FB and Google sign ins
Reuters: https://reut.rs/2JTWdDS

Opinion: Crisis diffused – On Hindi imposition
Hindu: http://bit.ly/2Xo8wLH

Interesting: With monsoon’s arriving, Metro barricades add to Mumbaikar’s commute woes
Hindu: http://bit.ly/2wBPoy6

Klips for 5th June 🌙✨

World 🌎 | India ranks 95th out of 129 in first SDG ‘Gender Index’
– The index measures ‘strides made in gender commitments against internationally set targets’
– With a score of 56.2 India ranks amongst the ‘very poor’ category of countries
– The average score is 65.2 with Denmark, Sweden, Norway leading
Hindu: http://bit.ly/2WglFoT
#SDG: Sustainability Development Goals

Economy & Business 💰 | DHFL defaults on interest payment
– MFs have an exposure of ₹5336cr to DHFL
– CARE rating recently downgraded DHFL’s borrowings worth ₹1.13trillion
Livemint: http://bit.ly/2WfGAbo

Base price of 5G spectrum auction too high: telecom body
– The govt is set to hold 5G auctions this year
– A pan India licence would cost $1.42bn, at base prices set by TRAI
– Another complexity will be whether India will follow America’s steps in banning Huawei network equipment during rollouts
Reuters: https://reut.rs/2JXWHsH
#TRAI: Telecom Regulatory Authority of India

FPI inflows highest in 6 years
– Foreign investors have pumped in $11bn as of May 2019
– This is largely the reason for the stock market rally
Business Standard: http://bit.ly/2WbtIDr

World Bank ‘retains’ India’s earlier growth forecast of 7.5% for
Livemint: http://bit.ly/2Whzd3e

Sport ⚽️ | Cricket: India takes on SA today in first match in World Cup

French Open: Nadal sets up semi-final clash with Federer

Opinion: Low tactics – On Indian embassy’s Iftar party in Islamabad
Hindu: http://bit.ly/2WoKow4

🗣Interesting: Traffic flow in Mumbai worst in the world, Delhi at 4th
Business Standard: http://bit.ly/2WplRqR

Klips for 6th June

World 🌎 | Nepal picks up 11 tonnes of garbage from Mount Everest over 2 months
– The garbage along with 300 bodies are covered under the snow, but become visible in summer
Reuters: https://reut.rs/2K0FX3O

National 🇮🇳 | Monsoon likely to arrive at southern coast around June 8: IMD
– The earlier predicted date was 6th June

Economy & Business 💰 | PM Modi to head cabinet committees on growth, employment
Hindu: http://bit.ly/2XtVYSW

Crisil, ICRA downgrade DHFL to junk
– They followed CARE rating in downgrading DHFL from A4+/A4 to D, after its default
Livemint: http://bit.ly/2XsujSA

RBI monetary policy review today, rate cut expected

Huawei signs deal with Russia to develop 5G
– The deal was signed with MTS, the largest operator, to upgrade its network to 5G
– The announcement was made in the presence of both Putin and Xi Jinping
Livemint: http://bit.ly/2wDmXjl

Tech 📱 | Amazon showsoff new it’s new delivery drones
Techcrunch: https://tcrn.ch/2Xw1Lro
YouTube: http://bit.ly/2XuEw0D

Sport ⚽️ | India wins World Cup opener with ease, meets Aus next on Sunday (9th June)

Interesting: What’s in a name? A lot if it’s ‘Khan Market’
Livemint: http://bit.ly/2wFzvXA

Klips for 7th June

National 🇮🇳 | 🗣43.4% of India facing drought, per-monsoon rain weakest in 65 years
Scroll: http://bit.ly/2ZcZxO6

Economy & Business 💰 | Azim Premji to retire from Wipro, son to take over
– Premji has been at the helm for more than 50 years
– He’s India’s 2nd richest man and a well known philanthropist
Reuters: https://reut.rs/2MuKb61

RBI cuts rates, changes stance to ‘accommodative’
– This is RBI’s 3rd successive rate cut
– However markets ended 1.38% down as RBI did not announce any measures for the NBFC crisis
Livemint: http://bit.ly/2K1mzE0

DHFL shares fall 18% on rating downgrades
A look at its ₹1trillion exposure: http://bit.ly/2K38KoG

Tech 📱 | Obamas sign deal with Spotify for podcasts
– The Obamas will ‘develop, produce and lend’ their voices to select podcasts distributed globally
Reuters: https://reut.rs/2K1qRLt

FB to launch ‘cryptocurrency’ on 18th June: Reports
– The stablecoin will carry no charges and will likely be called Libra
Techcrunch: https://tcrn.ch/2K1K1Rr

Opinion: The Fintech Bubble Floats Towards a $64 Billion Pin
– On EU’s new 2 factor authentication
Bloomberg: https://bloom.bg/2K0NXSz

Interesting: Traffic Jams Are a Sign of Income Inequality
– Research conducted in Germany shows this trend as people travel to ‘downtown’ for work
Bloomberg: https://bloom.bg/2MvtaZp

Klips for 8th June

National 🇮🇳 | 26 dead, 50 injured in UP dust storm, lightning
Hindu: http://bit.ly/2MBvTRb

Economy & Business 💰 | RBI relaxes stressed assets norms
– 30 day window added for creditors to start working on a resolution plan, sign creditor agreement with insolvency proceedings kept voluntary
– 20% provisions to be set aside if plan not implemented in 210 days (35% in 365 days)
– The relaxation will benefit power companies immensely to begin with (review period starts from Jan 2020)
More details: http://bit.ly/2KyZVlT (Livemint)

DHFL pays back ₹350cr to investors

Tech 📱 | Snap’s stock rises 180% since Dec aided by more teens loving Augmented Reality
Bloomberg: https://bloom.bg/2K12LRj

Sport ⚽️ | Nadal beats Federer in straight sets, enters final
Op-Ed 📝

Interesting: NASA to open up Space Station for tourists at $35000/night
– The whole trip would cost $50mn
– Food, storage and communication are extra
Reuters: https://reut.rs/2Mvbmxs

🗣Opinion: Elon Musk’s Hyperloop Has Taken a Detour, and Is Now Borrowing Ideas From the Past
– The reality of Hyperloop and it’s encounter with practical implementation
Wire: http://bit.ly/2K0ikII

Klips for 10th June 🥳

World 🌎 | Huge protests in Hong Kong against extradition law
– More than 1mn people are said to have taken to the streets in the protest
Reuters: https://reut.rs/2MQI0Kn

IAAF extends ban on Russia’s athletic federation for doping
– The ban has been in place since 2015
– The issue is the focus of Oscar winning documentary ‘Icarus’
Reuters: https://reut.rs/2MyTIJe

National 🇮🇳 | Two more journalists arrested for ‘defaming’ Adityanath
Hindu: http://bit.ly/2MxysU3

Monsoon hits Kerala, delayed by a week

Economy & Business 💰 | RBI to monitor NBFCs, take action if needed: Shantikanta Das
Reuters: https://reut.rs/2K5Pcjk

Sport ⚽️ | India beat Aus by 36 runs

Nadal wins 12th French Open title
– Australia’s Barry won the women’s crown on Sat

Op-Ed 📝
Opinion: NITI Aayog: Old Wine in new bottle?
– A call to review what the think-tank has achieved rather than discussions on bringing back the Planning Commission
Hindu: http://bit.ly/2K4OVND

🗣Interesting: Niki Tasha changed Indian kitchens – from a dingy corner to a sleek, modern way of cooking
Print: http://bit.ly/2MCr9e9

Klips for 11th June

World 🌎 | Despite massive protest, Hong Kong pushes through extradition bill

Trump ‘threatens’ to raise China tariffs again if Xi doesn’t meet at G-20

National 🇮🇳 | 3 sentenced to life in Kathua rape case
– Also 3 policemen received jail terms of 5 years for destruction of evidence
– 1 of the 8 accused was found not guilty while a juvenile faces trial
Reuters: https://reut.rs/2MEBdTJ

Economy & Business 💰 | End of the road for Jet as Etihad, Hindujas pull out of talks
– The airline now looks set for insolvency proceedings
Livemint: http://bit.ly/2ZnVYVn

Deloitte, BSR likely to be banned for 5yrs from audits after alleged IL&FS lapses
– The application was made by the Ministry of Corporate Affairs to NCLT
– BSR is a KPMG associate company
Livemint: http://bit.ly/2F2qoVf

Indiabulls Housing Finance accused of siphoning off ₹98000cr of public money
– A petition was filed in the SC against its chairman Sameer Gehlaut and its directors
– It’s alleged that they created shell companies to which Indiabulls provided loans
BQ: http://bit.ly/2F267iK

Tech 📱 | Saleforce to buy Tableau for $15.3bn
– Tableau is an analytics company that helps visualisation of large data sets
Techcrunch: https://tcrn.ch/2ZhLJ4I

Sport ⚽️ | Yuvraj retires from international cricket

Opinion: Salesforce Dreams of Being Microsoft or Oracle
Bloomberg: https://bloom.bg/2ZiJvCk

Klips for 12th June

National 🇮🇳 | Massive evacuation underway as storm (Vayu) set to hit Gujarat on Thursday
– More than 300,000 people are being evacuated
Reuters: https://reut.rs/2KbPci2

SC orders release of journalist held for Twitter post on Adityanath
– The SC said: ‘We can understand that the tweets should not be made. But arresting?’

Wreckage of missing AN-32 plane located
– Status of occupants to be ascertained

Economy & Business 💰 | Auto sales continue to tumble, down 21% in May
– Major automakers including Maruti, Hyundai have announced production cuts
Livemint: http://bit.ly/2Iaj5wT

Former CEA says growth rate ‘over-estimated’ by 2.5%
– Arvind Subramaniam said in a research paper that the GDP growth was overestimated from 2011-12 to 17-18
Livemint: http://bit.ly/2IaBrOb
#CEA: Chief Economic Advisor

Opinion: The playwright against the Right: Girish Karnad
– A nice summary of Karnad’s best works and contributions
Hindu: http://bit.ly/2IBcTwK

Interesting: Mary Mayer’s 2019 Internet Trends report
Bondcap: https://www.bondcap.com/report/itr19/

Klips for 13th June

National 🇮🇳 | Chandrayaan-2 set to launch on 15 July, land on moon on Sept 7
– With this India will attempt to land a rover on moon for the very first time
– It will have 3 modules, the Orbiter, Lander (Vikram) and Rover (Pragyan)
Livemint: http://bit.ly/2XglEpD

President’s rule extended by 6 months in J&K
– It has been in place since June of last year
Hindu: http://bit.ly/2KLjsQ2

5 CRPF jawans killed, 4 injured in terrorist attack in Anantnag, J&K
– Two terrorists on a motorcycle attacked a CRPF patrol on a busy road with automatic rifles & grenades
– One of them was gunned down
Hindu: http://bit.ly/31uplqD

Economy & Business 💰 | April IIP up 3.4%, Inflation at 7 month high in May
– While the numbers are positive, analysts say they do not indicate a recovery
– For example, food inflation was largely the reason for jump in inflation as core inflation was at a 23 month low (4.37%)
Livemint: http://bit.ly/2R94tk8

NSE to remove Jet Airways shares from daily trading
– Jet failed to respond to queries about rumours, prompting the action
– Oddly, Jet Airways continued to trade on both exchanges till now despite having no running operations
Reuters: https://reut.rs/31uYZ7W

Interesting: Patanjali – Dash for growth leads to stumbles
Reuters: https://reut.rs/2KT8Kr1

Interesting: The End of the Polling Booth – On home voting in the US
– Similar to postal ballots but accessible to all. A look at the pros and cons
NYT: https://nyti.ms/2R8gdTS

Klips for 14th June

National 🇮🇳 | Vayu changes course, avoids a direct hit with Gujarat
– The cyclone will skirt Gujarat’s coastline
– Vayu had wind speeds of a Category 1 cyclone
Reuters: https://reut.rs/2KdjNM9

No survivors found in AN-32 wreckage
– The transport plane, with 13 onboard, crashed 32 min after take off
Hindu: http://bit.ly/31rvXGx

Economy & Business 💰 | Indiabulls Housing Fin jumps 8% after case withdrawn
– The petitioner felt the writ was ‘defective’ and withdrew it
– The writ alleged that Indiabulls siphoned off ₹98000cr
Reuters: https://reut.rs/31tg3eG

Star looks to make ₹100cr from Ind-Pak WC game
– A 10sec slot is priced at ₹25L
– With most of the inventory sold off already, Star is charging a premium for remaining slots
Livemint: http://bit.ly/2KPMw8X

Tech 📱 | Uber launches XS service in Bengaluru with Bajaj’s ‘Qute’
– The gas powered, miniature cars can seat 3 and are meant to tackle Bengaluru’s traffic
Reuters: https://reut.rs/2KOQsaa

FB to acquire stake in Indian startup Meesho
Reuters: https://reut.rs/31wnkKP

Sport ⚽️ | Ind-NZ match rained out
– This is the 4th match to be abandoned in this WC due to rain, with no reserve day

Interesting: A German 5G auction that lasted 12 weeks and 497 rounds
– Upstart virtual operator 1&1 seems to be the only winner with Deutsche Telekom and Vodafone terming the auction ‘catastrophic’
Reuters: https://reut.rs/31wlIRm

Opinion: What Hong Kong’s Freedom Means to the World
‘Freedom is also about the narratives people live by and the kind of future they imagine for themselves’
Bloomberg: https://bloom.bg/2KNoDin

Opinion: Puncturing the myth of India’s economy
‘The country won’t reform without a crisis. Well, according to one of the government’s own former advisers, it’s got one’
Bloomberg: https://bloom.bg/31x8IuE

Klips for 15th June

National 🇮🇳 | Attack on doctors: IMA calls for nationwide strike on Monday
– The association is demanding better security after 3 doctors were attacked in Kolkatta
Reuters: https://reut.rs/2WL3Kvo

Sreedharan requests PM not to allow ‘free travel’ on Delhi Metro
– Says that it would set a dangerous precedent for other metros as well
– He suggested that if the Delhi govt wants to promote travel amongst women, it can directly pay them the amount instead
Livemint: http://bit.ly/2MOGmc6

Economy & Business 💰 | India to go ahead with ‘retaliatory’ tariffs on US goods
– 29 US products including aluminium and steel product will attract a duty from June 16
– US withdrew GSP benefits to India from June 5
Livemint: http://bit.ly/2WKMjuZ
#GSP: Generalized System of Preferences

SEBI bans NDTV from accessing capital markets for 2 years
– Prannoy Roy has also been banned from holding any managerial position
– SEBI said the matter relates to allegations of fraud by NDTV in securing loans
Reuters: https://reut.rs/2MLPkXq

Interesting: Amazon Flex comes to India
– Amazon will pay individuals ₹120-140 per hour to deliver packages
Livemint: http://bit.ly/31x7teY

Opinion: YouTube’s Algorithm Incentivises the Wrong Behaviour
NYT: https://nyti.ms/2MMZhE5

Klips for 17th June

World 🌎 | Another record protest in HK with 2mn protestors
– HK’s Chief Executive Carrie Lam suspended the controversial extradition bill and said ‘Sorry’
– However protestors are demanding a complete withdrawal of the bill
Bloomberg: https://bloom.bg/2IOONi5

National 🇮🇳 | Monsoon proves to be a ‘dampner’ for now
– Overall rain deficiency in June’s first half was 43%
– The monsoon’s progress has been sluggish due to Cyclone Vayu with the monsoon yet to mark its arrival in AP, Maharashtra, Orissa
Livemint: http://bit.ly/2XmbUda

Sport ⚽️ | India beats Pak to maintain WC record
– India won by 89 runs via D/L in a rain curtailed game

Opinion: Why This Time Was Different for Hong Kong
Bloomberg: https://bloom.bg/2ZtXvch

Opinion: Huawei Can Build a Fine Phone Without U.S. Parts
– A breakdown of its latest devices shows hardly any US components
Bloomberg: https://bloom.bg/2XlPZmt

Klips for 18th June

National 🇮🇳 | West Bengal doctors withdraw strike
– The strike was called off after a 2hour meeting with WB CM Mamata Banerjee
Hindu: https://www.thehindu.com/news/national/west-bengal-doctors-withdraw-strike/article28022374.ece

97 kids die of encephalitis in a a month in Bihar
– Also called brain fever, it occurs in seasonal outbreaks every summer
Reuters: https://reut.rs/2wYMAv3

Economy & Business 💰 | Indigo places $20bn order for CFM engines, drops Pratt
– The Pratt & Whitney engines are used in Indigo’s Airbus A-320neo fleet, but have consistently faced issues
– CFM is owned by GE and France’s Safran
Reuters: https://reut.rs/2Ztn5OK

Huawei slashes revenue projections, says US ban impact will wipe out $30bn
– ‘We did not expect they would attack us on so many aspects’ said Huawei’s founder Ren Zhengfei
Reuters: https://reut.rs/2ZsDWkL

Banks ‘give up’ Jet revival, take it to NCLT
– The lenders, led by SBI took the airline to the insolvency court after Etihad and Hinduja Group did not come forward with offers
– Analysts say it’s unlikely the lenders will recover anything substantial
Livemint: https://www.livemint.com/companies/news/banks-give-up-on-jet-airways-revival-choose-to-send-it-to-bankruptcy-court-1560773130553.html

🗣Interesting: Say goodbye to online discounts. The unstoppable growth of e-commerce sites may be coming to an end
Scroll: https://scroll.in/article/926911/say-goodbye-to-online-discounts-the-unstoppable-growth-of-e-commerce-sites-may-be-coming-to-an-end

Opinion:The litchi Link? – On Bihar encephalitis deaths
– Even though cures are known (and the disease preventable), several lives are being lost largely due to poor awareness
Hindu: https://www.thehindu.com/opinion/editorial/the-litchi-link/article28022573.ece

Klips for 19th June

World 🌎 | British Airways owner, IAG, shows interest in ordering 200 737-Max planes
– ‘I am confident in Boeing’, said IAG’s CEO Willie Walsh
Reuters: https://reut.rs/2x1o9xh

National 🇮🇳 | Adhir Ranjan Chowdhury is Congress’ leader in Lok Sabha
– Chowdhury is a 5 time Member of Parliament
Hindu: http://bit.ly/2Kntw2l

Economy & Business 💰 | 🗣HDFC AMC shares down 6% after ₹500cr lifeline for FMP unitholders
– The FMP has exposure to Essel Group and HDFC should have invoked its pledged shares
– Instead HDFC chose to take the exposure on its own books
BS: http://bit.ly/2RmfGhi

India to review data protection rules
– The RBI last year had mandated that foreign payment firms must store their payment data in India
– The rules had irked major players such as MasterCard as well as the US govt
Reuters: https://reut.rs/2wYpDYW

Sport ⚽️ | England’s Eoin Morgan creates record, hitting 17 sixes in match against Afghanistan

Opinion: An idea who’s time may not have come
Former CEC SY Quraishi pens his thoughts on the pros and cons of ‘One Nation, One Election’
Hindu: http://bit.ly/2KntW8V

🗣Pulwama IED attack: This is the worst January-June period in 14 years for security forces in Kashmir
– A worrying trend of increased terrorism in Kashmir which is evident once you see the charts
Scroll: http://bit.ly/2KoTRNy

Klips for 20th June

World 🌎 | Russians, Ukrainian to face murder charges for downing MH17
– 298 people were killed when a Malaysian Airlines flight was downed over Eastern Ukraine in 2014
– The investigation was carried out by a Dutch-led international team
Reuters: https://reut.rs/2Ro3mx3

National 🇮🇳 | Govt proposes no registration fee for EVs
– The proposal includes an exemption for all types of EVs including cars and bikes
Livemint: http://bit.ly/2XYQUXb

Om Birla becomes new Lok Sabha Speaker
– The two time parliamentarian was elected from Kota-Bundi in Raj
– He’s 56 yrs old and was one of the most active Parliamentarians: attendance of 86%, asked twice more questions than average
BQ: http://bit.ly/2J0uf6m

Economy & Business 💰 | PM’s Economic Advisory panel rejects Subramaniam’s paper
– The panel said the paper lacked vigour and won’t stand up to academic scrutiny
Hindu: http://bit.ly/31IosLl

🗣Maharashtra govt identifies site for Aramco refinery
– The $44bn refinery will be jointly developed by state firms and ADNOC with Aramco
– The govt faced protests at the earlier site from locals and farmers fearing it would damage yields for Alphonso mangoes
Reuters: https://reut.rs/2WOSj1a
#ADNOC: Abu Dhabi National Oil Co.

Tech 📱 | Slack’s public IPO to debut today, priced at $26 a share
– This will value the company at $15.7bn
– Spotify also previously went the direct listing route, which allows early shareholders to sell their shares
Techcrunch: https://tcrn.ch/2x1vH30

🗣Explainer: India’s monsoon
– A nice explainer on what a ‘normal’ monsoon means, how accurate IMD is (or isn’t) and the impact it will have on the economy and govt policies
Reuters: https://reut.rs/2x1QO5a

Klips for 21st June

World 🌎 | US spy drone shot down by Iran, Trump downplays it, oil prices jump
– Trump called the incident ‘a new wrinkle … a new fly in the ointment.’
Reuters: https://reut.rs/2XrFmP4

National 🇮🇳 | 44 dead as bus plunges into valley near Kullu
– There were 78 ppl onboard and the casualties are expected to rise
Reuters: https://reut.rs/2XpUqwH

Economy & Business 💰 | Clear indication of economy losing traction: RBI Governor
– This was the common theme of the MPC meeting for June which earlier cut rates by 25bps
Livemint: http://bit.ly/2x77vw1

Jet Airways admitted to insolvency by NCLT
– The lenders, led by SBI, said they were forced to exercise the option after exhausting all other options
– Jet’s shares spiked 150% just around the time of the announcement
Livemint: http://bit.ly/2IXpnz8

🗣Gold prices jump to 5 year high
– This comes on the back of growing US-Iran tensions and US’s trade war with China
Livemint: http://bit.ly/2IVhfz0

Tech 📱 | Slack’s stock rallies 48% on debut
Techcrunch: https://tcrn.ch/2x5Li1l

Interesting: This Language-Learning App Aims to Transform Your In-Flight Time
– There are several learning apps but you are likely to see this one on your next international travel
Bloomberg: https://bloom.bg/2x6uFTl

Opinion: As the Iran Crisis Escalates, What Is Trump’s Goal?
– Sending confusing signals has been Trump’s approach and Iran’s case is no different
Bloomberg: https://bloom.bg/2J068ol

🗣Interesting: The surprising origin story for Starbucks’ name
Reader’s Digest: http://bit.ly/2Jb6qJt

Klips for 22nd June

National 🇮🇳 | Railways plans a ‘Give it up’ scheme for train ticket subsidies
– Passengers can choose to give up the subsidy that they presently enjoy and buy more expensive tickets
– The scheme is similar to the LPG subsidy scheme
Livemint: http://bit.ly/2Kx1txD

Economy & Business 💰 | GST Council Meet: Stricter rules for GST evasion
– Penalty changed from flat fee of ₹25000 to 10% of profiteered amount
– Tenure of National Anti-Profiteering Authority (NAA) extended by 2 years to 2021
– Also Aadhaar based GST registration will be sufficient and GST on EV has been proposed to be reduced to 5% from 10%
Livemint: http://bit.ly/2N32oI1

European Central Banks claim oversight over FB’s Libra
– France, UK and German central banks joined the US Fed in saying that they will have regulatory oversight over Libra
– Libra, unlike other crypto currencies, claims it will have reserves to back it

🗣World 🌎 | Walmart to pay $283mn fine in US for bribery charges in India and other markets
– The issue dates to pre 2011 operations when Walmart had a JV with Bharti in India
Livemint: http://bit.ly/2KxO5ck

Interesting: HK protests – The ‘science’ of counting crowds
– One might think that the task of counting crowds is but a trivial issue. Turns out that’s not the case. There is a science for that too. Rather interesting article with nice graphics from Reuters
Reuters: https://tmsnrt.rs/2KvxJ49

Interesting: Bajaj Finance – A Rare Bright Spot in Shadow Banking World
Bloomberg: https://bloom.bg/2Kx6eY4

Klips for 24th June

World 🌎 | FedEx ‘misses’ delivery of Huawei shipment to US
– This comes just weeks after FedEx misdirected another shipment from Huawei
Reuters: https://reut.rs/2RsWDCa

National 🇮🇳 | India rejects US report on attack on Muslims
– The report by the US State Dept said that senior members of BJP made inflammatory remarks against Muslims
– US Secretary of State is set to visit Delhi on Tuesday
Reuters: https://reut.rs/2xc3573

Economy & Business 💰 | Amazon invests ₹450cr in India payments unit
– The platform, called Amazon Pay, recently launched a campaign for UPI based payments and cashback on it Android app
– Amazon Pay competes with PhonePe, Paytm and Google Pay amongst others
Livemint: http://bit.ly/2N8G5kf

Sport ⚽️ | Ashleigh Barty becomes first Australian in 43 years to Top WTA rankings
#WTA: Womes’s Tennis Association

Interesting: Zara’s Indian Partner Is Building Its Own Cheaper Fashion Chain
Bloomberg: https://bloom.bg/2WWn301

Klips for 25th June

World 🌎 | Trump puts sanctions on Iran’s leader
– The sanctions ‘will deny the Supreme Leader and the Supreme Leader’s office, and those closely affiliated with him and the office, access to key financial resources and support’
Reuters: https://reut.rs/2xdMBLW

FedEx sues US govt over impossible task of policing exports to China
– In essence the US govt has outsourced the task of ‘policing the contents of millions of packages’ to China
– The matter relates to the ‘Entity List’ of people and companies that pose a security risk to the US
Reuters: https://reut.rs/2RDyTeI

Economy & Business 💰 | RBI Deputy Gov Viral Acharya quits
– Acharya was the lone member on the MPC who flagged inflation concerns with rate cuts and higher budget deficits
– His resignation implies the committee will take a more ‘dovish’ stance
– Acharya will return to New York University Stern School of Business
Reuters: https://reut.rs/2xae6G3

House Panel shies away from quantifying black money
– The figures reported from 3 agencies vary from 7-120% of GDP
– It concluded that ‘reliable estimation of unaccounted income is a difficult task’
Hindu: http://bit.ly/2Rx9djG

🗣Wilful defaulters rises by 14%, increasing state banks’ troubles
– The data was shared by the Finance minister with Parliament
– The number of defaulters rose from 7535 to 8582
Print: http://bit.ly/2xdUn8C

Interesting: Amazon Threat to FedEx Is No Longer ‘Fantastical’
Bloomberg: https://bloom.bg/2xfz1HC

🗣Interesting: Make that holiday worth your while and your money
– Some practical advice on how to enjoy your family holiday rather than worry about getting the best of everything by spending more
ET Wealth: http://bit.ly/2xdPGLM

Klips for 26th June

World 🌎 | In war of words, Trump threatens Iran with ‘obliteration’
– He tweeted that if Iran attacked ‘anything American’ it would face obliteration
Reuters: https://reut.rs/2xawrTq

National 🇮🇳 | US Secretary of State arrives in India for 3 day state visit

Economy & Business 💰 |DHFL delays payments again
– It said it is yet to pay ₹225cr of ₹375cr commercial paper
– On June 4th, DHFL defaulted on payments worth ₹850cr
Livemint: http://bit.ly/2FyKhDJ

AbbVie to but Botox maker Allergan in $63bn deal
– AbbVie makes the world’s top selling drug, Humira (for arthritis treatment), which is set to lose its US patent soon
Reuters: https://reut.rs/2xcdxf5

🗣Currency in circulation rises 22% in May over pre-Demonetisation level
– Sitharam justified demonetisation as it had ‘succeeded’ in reducing notes in circulation
– Digital transactions have increased from 112L cr to 118L cr
Livemint: http://bit.ly/2FserIP

Opinion: RBI’s Autonomy Takes Another Hit
Bloomberg: https://bloom.bg/2ZQgu0P

🗣Interesting: How much does India spend on its public libraries?
Scroll: http://bit.ly/2ZKNW99

Interesting: The World’s Best Restaurant: Mirazur
Bloomberg: https://bloom.bg/2FA9gX8

Klips for 27th June

National 🇮🇳 | Protests across cities over Jharkhand lynching case, Modi says he’s ‘pained’
– Tabrez Ansari was tied to a pole and beaten mercilessly for several hours by villagers over suspicion of a bike theft
– He was later handed to the police, severely injured, but wasn’t admitted to the hospital and succumbed to his injuries 4 days later, in police custody
– Jharkhand has had 13 cases of lynching in the past 3 years
Reuters: https://reut.rs/2RCKYko

Economy & Business 💰 | RBI says payment data can be processed abroad, but must be stored in India
– Even the processed data must be deleted and brought back to local storage within 24hrs
Reuters: https://reut.rs/2RFf7zl

SpiceJet got majority of airport slots vacated by Jet
– Indigo was next with 32% followed by GoAir 13%
– This is based on data related to Del-Mum sector which accounts for 60% of domestic traffic
Livemint: http://bit.ly/2ZR6cOi

Tech 📱 | Google launches auto-delete controls for Location History on iOS and Android
– You can now choose to auto-delete location history that Google stores about you
Techcrunch: https://tcrn.ch/2ZQ0H28

🗣Opinion: India wants to speed up its transition to electric vehicles – so fast that chaos is inevitable
– A no holds barred critique on India’s haste to adopt EVs
Scroll: http://bit.ly/2FCvoAa

🗣Interesting: Japanese firm ready to pay over ₹2,200 crore for 3-acre plot in Mumbai’s BKC
– The bid, if accepted, would make it one of the most expensive in India
Livemint: http://bit.ly/2FAPL0B

Klips for 28th June

National 🇮🇳 | Trump demands ‘unacceptable’ tariff hike by India to be removed
– India hiked duties on 28 US goods after GSP trade privileges to India were withdrawn
Reuters: https://reut.rs/2RBOrQ5

Economy & Business 💰 | SEBI tightens rules for pledged shares
– Owners will have to disclose if they have pledged shares as collateral
– Mutual fund holding norms were also tightened with MFs now having to keep atleast 20% assets as liquid assets
– The changes come in light of recent NBFC defaults and subsequent impact on MFs and investors
More details: See image
Livemint: http://bit.ly/2YiiyP0

Finance Ministry asks EPFO to reduce EPF interest rates
– EPFO is offering a rate of 8.65% which is higher than most bank savings rates
– While the Finance Ministry feels the interest offered is not in line with the fund’s returns, the larger view is that the move is meant to benefit banks (and other investment instruments)
Livemint: http://bit.ly/2FEwMCr

Indigo hikes cancellation charges to ₹3500
– This is for cancellations done upto 3 days in advance
– On some sectors this is higher than the flight fare

🗣Indians’ money in Swiss banks falls to 2 decade low
– This relates to the official figures declared by Swiss bank and not the much talked about ‘black money in Swiss Banks’
– This official figure has fallen from ~₹23000cr in 2006 to one tenth the amount by 2018
Hindu: http://bit.ly/2FBuQuA

Tech 📱 | John Ive leaving Apple to start own firm
– His new project will be called LoveFrom
– Ive has been with Apple for 27 years and considered responsible for Apple iconic designs include the iPhone
Techcruch: https://tcrn.ch/2YrkDrK

Sport ⚽️ | India beat WI comfortably by 125 runs, close in on Semis berth

Opinion: ‘Interest Rates’ May Be a Thing of the Past
Bloomberg: https://bloom.bg/2YhWrs1
To be read with: A 1.17% Return for a 98-Year Bond Issue? Sign Me Up

Interesting: Cocaine Is Back. Blame Technology for It.
– An ‘uberization’ of cocaine trade is underway
Bloomberg: https://bloom.bg/2FxqaWz

Klips for 29th June

World 🌎 | France records all time high temperature of 45.8°C
– 2019 will be the hottest year for France
– Temperatures in parts of Spain also likely to hit 40°C
Hindu: http://bit.ly/2IW85mU

National 🇮🇳 | Modi govt ‘freezes’ ads placed in 3 newspaper groups
– Bennet, Coleman & Co (TOI, ET), ABP Group and The Hindu have seen govt ads plunge
– It is believed this is because of critical reports and unfavourable reporting
– Govt ads contribute 15% to newspaper ad sales
Reuters: https://reut.rs/2RKn7z1

Heavy showers strike Mumbai
– Traffic and local train services were disrupted due to heavy rains
– Heavy showers are likely to continue over the weekend
Hindu: http://bit.ly/2XaeSxa

Economy & Business 💰 | Google appears to have leveraged Android dominance: CCI
– The order dated April 16 called for a wider probe
– The case is similar to the one faced by Google in Europe where it had to pay a fine of $5bn
Reuters: https://reut.rs/2xl1CeV

Fiscal deficit at 52% of full year target in 2 months
– The figure was 55% for the same period last year
Livemint: http://bit.ly/2IWPmrw

FII inflows at 5yr high in 2019
– FIIs have pumped in $11.41bn in first 6 months and this is the highest since 2014 ($9.91bn) for the corresponding period
– Domestic investors have been net sellers in the first 6 months
Livemint: http://bit.ly/2IVNAqx

Opinion: Chennai’s water crisis
– Chennai hasn’t received rains for nearly 200 days and is facing its worst water crisis in decades
– The article tries to highlight ways in which things can be improved rather than just resorting to ‘firefighting’
Hindu: http://bit.ly/2IWVWyr

Interesting: Boeing’s 737 Max Software Outsourced to $9-an-Hour Engineers
– Work was outsourced to India’s HCL
Bloomberg: https://bloom.bg/2Xcve8x