May ’19

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

National 🇮🇳 | CJI sexual harassment case: Former SC staff says she will no longer take part in panel hearing
– She said in her press release she felt she would not get a fair hearing

Economy & Business 💰 | SEBI fines NSE $90mn for unfair broker access
– SEBI found that some brokers had unfair access on account of co-location servers placed at the exchange
– SEBI also barred NSE from raising money (IPO) for 6 months
– The decision follows a 3 year investigation

Apple Q2 results: iPhone sales down, wearables up
– iPhone sales were down 17% y-o-y, though Apple said they picked up towards the end of Q2
– Wearables, including Air Pods and Watch did better than analysts’ expectations
– Apple shares were up 5% as it announced a $75bn buyback

Tech 📱 | FB showcases pivot to private messaging future at developer event
– Zuckerberg said at the F8 annual conference ‘As the world gets bigger and more connected, we need that sense of intimacy more than ever. That’s why I believe that the future is private. This is the next chapter for our services’
– It also showcased Secret Crush as part of its Dating feature

Op-Ed 📝
Welcome to the War Over Donald Trump’s Wallet
On the recent lawsuit by Trump against Deutsche Bank and Capital One

Klips for 2nd May

World 🌎 | UN blacklists Masood Azhar after China drops its objection
– Azhar is the founder of JeM which took responsibility for the Pulwama attacks
– China was the only country that had previously objected to blacklisting Azhar
– However, China only agreed after the reference to the Pulwama attacks was removed

National 🇮🇳 | Landmine kills 15 policemen in Gadchiroli, Maharashtra
– Gadchiroli is know for Naxal attacks
– However it seems like SOP were ignored and the incident could have been avoided
#SOP: Standard Operating Procedures

EC give Modi ‘clean chit’ for Latur speech, Pragya barred from campaigning for 3 days

Shiv Sena calls for ban on ‘burqa’
– The party cited SL’s move to ban the veil after the recent attacks

Economy & Business 💰 | Oyo to acquire Europe’s Leisure Group for $415mn
– The acquisition will give Oyo access to 115,000 units of homes across Europe

GST collections for March highest since rollout at 1.13L cr
– While a year end surge is expected, the collections also rose 10% y-o-y

US Fed keeps rates unchanged

Tech 📱 | Google launches CallJoy, a virtual sales assistant
– The service is aimed at small business
– It helps customers book appointments, gives basic business information, helps redirect customers as well as block spam calls

Op-Ed 📝
Opinion: Apple’s Future Comes Down to Four Crucial Questions
4 very valid question. Do check the graphs

Klips for 3rd May

National 🇮🇳 | 1.2mn to be evacuated as Fani gains strength, expected to make landfall today
– Bhubaneswar airport will be shut while Kolkata airport will be shut for few hours from this evening

Economy & Business 💰 | 🗣Car sales continue to drop in April, raise concerns on recovery
– Maruti’s domestic sales fell 18.2% while Hyundai’s fell 10%
– The mini-car segment saw the largest fall of 40% for Maruti
#While there have not been any direct reports, the fall can be attributed to a long expected unwinding of sales to Uber and Ola cab drivers. An indicator is the number of new cars (esp Wagon R) that you now see on these platforms (barely any). Stay tuned for more

India’s unemployment rate rises to 7.6%: CMIE report
– This is the highest since 2016
– It must be noted that the govt does not release jobs data and has yet to release any ‘official’ figures
#CMIE: Centre for Monitoring Indian Economy

Op-Ed 📝
Opinion: A global label – on designating Masood Azhar as a global terrorist
An op-ed on why the ‘global terrorist’ tag is merely a label until true action is taken. Other ‘global terrorists’ housed within Pak are but an indicator of inaction.

Klips for 4th May

World 🌎 | Cyclone Fani hits Bangladesh after battering Orissa
– 12 people were killed in Orissa in what is the strongest cyclone to hit India in 5 years
– Most deaths were caused by falling trees
– The mass evacuation helped avert a greater loss of life

National 🇮🇳 | EC issues more ‘Clean Chits’ to Modi
– However, as before, no details of the complaints were uploaded on its website, which is a norm for all candidates
– This raises a question of different yardsticks are used by the EC for different candidates
– Also, expectedly, no complaints exist on the website against Amit Shah
Complaints page:

Economy & Business 💰 | Jet employees protest govt inaction
– Employees dressed in uniforms gathered to protest at Azad Maidan
– Ironically, the protest took place just 2 days before the airline’s 26th anniversary
# Stay tuned for a Klips Backstory on the Jet saga tomorrow

Godrej buys iconic RK studio
– The properties arm of the business will use the land (2.2 acre) to construct luxury flats
– RK short for Raj Kapoor was the headquarter for his production house RK Flims since 1948

Tech 📱 | Buffet embraces Amazon as Berkshire Hathaway acquires stake
– Buffett said that he was ‘an idiot’ for ignoring the company for so long

Op-Ed 📝
🗣Interesting: Gaja, Mala, Nargis, and now Fani: How cyclones are named

Klips for 6th May

World 🌎 | Trump vows tariff hikes on Chinese goods
– Trump said he’ll make the announcement this week which will affect goods worth $200bn
– Duties will be raised from existing 10% to 25%
– He also promised to further target goods worth $325bn

41 passengers killed in Aeroflot crash landing at Moscow airport
– The plane bounced on the runway and burst in flames
– Few passengers made their escape from the front
– The plane was carrying 73 passengers and crew

National 🇮🇳 | 5th Phase of voting underway today in 51 constituencies

Economy & Business 💰 | After Maruti, Tata Motors also likely to discontinue Diesel engines for small cars
– This is on account of BS VI norms that kick in on 1st April 2020
– Re-engineering existing engines won’t bring them under the emission norms, and developing new ones would be very expensive.

Op-Ed 📝
🗣Interesting: Despite hype, demonetization missed all goals
Some of the graphs and insights, especially on growth of digital payments, cash circulation in comparison to other countries are excellent and worth a look

Interesting: What FMCG Companies’ Q4 Earnings Indicate About Demand

Klips for 7th May

National 🇮🇳 | CJI cleared of sexual harassment charges by Judges’ Panel
– The Panel found ’no substance’ in the accusations levelled by a former employee

5th Phase ends with turnout of 63%, high polling in WB
– WB recorded polling at 74% across 7 seats
– Anantnag in J&K, where a 2nd Phase took place, recorded only 9% turnout

World 🌎 | Prince Harry’s wife Megan Markle gives birth to a baby boy

Economy & Business 💰 | Airtel reports surprise profits jump of 29% in Q4
– This was on the back of a one-time gain of ₹2022cr
– However profits are down 63% y-o-y (from ₹1099cr to ₹409cr)
– The operator did not disclose other details including ARPU as it gets ready for a rights issue

Op-Ed 📝
The Legacy of a Different CEC: When J.M. Lyngdoh Stood up to Modi

Klips for 8th May

World 🌎 | US warns India against retaliatory duties
– Trump announced a plan in March to end GSP for India to which India has indicated it will impose higher import duties on US goods
GSP: Generalized System of Preferences

National 🇮🇳 | Jet Airways pilots’ union asks SC to direct SBI to release funds
– SBI has not released emergency funds that it had agreed to
– The National Aviator’s Guild said this ‘singular decision’ by SBI was responsible for Jet Airways’ operations coming to a stop and ‘substantial de-valuation/depreciation in the value of Jet’

🗣SC dismisses plea to increase matching of VVPAT slips
– The plea filed by 21 parties asked for atleast 25% random matching of VVPAT slips
– At present 5 random booths (approx 2%) are taken up for matching
VVPAT: Voter verified paper audit trail

Economy & Business 💰 | TCS set to become world’s 3rd largest IT services company
– It’s likely to surpass DXC and then will only lag IBM and Accenture

Tech 📱 | Google launches a Pixel phone at $399
– This is almost at half the price of current models
– Called the Pixel 3a, it won’t have a front camera or wireless charging when compared to the new Pixel 3
– Google is also selling the phone via more operator tie ups (India price: ₹39,999)

Op-Ed 📝
I’ll Choose My Own Emojis, Thank You Very Much

You Don’t Have a Right to Cheap Flights
In this article find out what flugscham or German for ‘flight shame’ means

Klips for 9th May

National 🇮🇳 | This election is on the basis of performance, not perception: Modi
– In an interview to Hindustan Times, he also defended the govt’s record on Demonetisation, Kashmir and employment

Economy & Business 💰 | GDP data storm intensifies as govt ‘studies’ NSSO data
– The Mint reported that 36% of the companies in the govt database did not exist or were wrongly classified
– The govt uses this data to estimate economic activity, which economists argue cannot be a true measure
#NSSO: National Sample Survey Office

L&T buys Mindtree shares worth ₹368cr
– L&T has been buying shares from the open market for 3 consecutive days
– It’s in the midst of a takeover of Mindtree, a move that the company is opposed to

RBI withdraws circular asking banks to disclose IL&FS exposure

IRCTC to file Red Herring Prospectus next month
– IPO likely to take place by August end

Tech 📱 | Flipkart launches online grocery store for Mumbai called ‘Supermart’
– The company has created a fulfilment centre in Bhiwandi
– The service launched about a year and half ago and is present in Bangalore, Chennai, Hyderabad and Delhi

Apple finalises list of locations for 1st retail store in India
– First store likely to come up in Mumbai

Op-Ed 📝
Interesting: The days of free UPI money transfers may be ending

🗣Interesting: The modest gunny bag might turn out to be Punjab’s biggest election issue

Klips for 10th May

World 🌎 | Facebook co-Founder’s calls to break up company rejected
– Chris Hughes called for FB to be spilt saying ‘Mark’s power is unprecedented and un-American’
– He also wrote an op-Ed piece in the NYT to the effect
– Lawmakers urged the DoJ to initiate antitrust proceedings against FB

National 🇮🇳 | Amit Shah confident of adding to 2014 tally
– He said that BJP led govt would be re-elected with an increased majority
– He also said that the decision to field Pragya Thakur was ‘satyagraha’ against the charge of ‘Hindu terror’

Economy & Business 💰 | Uber prices IPO at low end of range to escape a trading plunge
– Uber priced it’s IPO at $82bn which is far below initial estimates
– This is given that Lyft, which listed recently, has seen a major hit to its stock price post listing
– The stock is set to begin trading today

Reliance buys UK’s Hamleys

McDonald’s buys out Vikram Balaji’s stake
– This brings to an end the long tussle between McD and Connaught Plaza Restaurants, McD’s franchise partner in North and East India

Op-Ed 📝
Opinion: A vote for the sake of Parliament

Uber Fans May Feel Like ‘Game of Thrones’ Fans
– A great story. A great cast of characters. Lots of anticipation. And then, disappointment.

Klips for 11th May

National 🇮🇳 | Why no FIR in Rafale deal complaint: SC
– Justice Joseph asked the Attorney General why an FIR was not registered by the CBI

Economy & Business 💰 | Etihad interested in minority stake in Jet, submits bid
– Says it cannot be expected to be the sole investor in the airline

‘Extent of GDP overestimation in all likelihood is marginal’ – Finance Ministry
– This is in reference to the MCA-21 database, introduced in the new GDP series and found to have a number of glaring gaps

Uber stock price falls 7.6% on day of listing
– Shares ended at $41.57 on the S&P 500
– Only one in every 5 stocks has ended below their listing price on the first day of trading in the last 2 years

Air India to offer upto 40% discounts on last minute bookings
– The discounts will be applicable from today on all domestic flights, 3 hours prior to departure
– The move comes in at a time when passenger growth has be flat

Tech 📱 | CCI orders anti-trust probe of Google India
– The matter relates to Google abusing its Android market dominance, to block rivals
– A similar complaint resulted in a €5bn fine on Google in Europe

Op-Ed 📝
Interesting: The best and the worst airlines and airports of 2019
The airport list is based on on-time performance, service quality and f&b options

Interesting: No vehicles on road, Karol Bagh puts its best foot forward
The photo is worth a look

Klips for 13th May

National 🇮🇳 | Penultimate Phase of election ends with 63% turnout
– Delhi recorded a turnout of 60%, about 5% lower than 2014
– WB, which was marred again by violence, recorded the highest turnout of 80%

Economy & Business 💰 | Pak, IMF agree to $6bn bailout
– This is the 13th bailout by IMF to Pak since 1980

SofBank market value falls $9bn as Uber IPO ‘flops’
– While the company recorded a gain of $3.8bn on its investment in Uber, its stock fell 5.4% on Friday and another 4.9% today

Tech 📱 | Hotstar sets global record for concurrent viewers at 18.6mn
– This was recorded on the final day of the IPL

Sport ⚽️ | Manchester City Win EPL title on last day

Mumbai Indians beat CSK to win IPL final

Op-Ed 📝
Breaking Up Facebook Is Not the Answer

Klips for 14th May

World 🌎 | Nationwide curfew in SL after mosque attacked, 1 killed
– ‘There are hundreds of rioters, police and army are just watching. They have burnt our mosques and smashed many shops owned by Muslims’, a local said

Economy & Business 💰 | Uber continues to slide, down another 12% on Monday
– The stock ‘did not trade as well as we had hoped post-IPO’, said CEO Dara Khosrowshahi
– The stock is now down almost 19% from its listing price and has already lost $17bn of net worth

CPI up to 2.92%, at 6 month high
– This is below the RBI’s estimates and so a rate cut is expected
– CPI stood at 2.86% last month

🗣SBI wrote off ₹1Lcr in two years to clean up books
– This is twice the amount written off in the preceding 3 financial years (2014-17) which was ₹57000cr (see graph)

Op-Ed 📝
Modi Marksheet: A comprehensive grading of all the promises made by the Modi government
Worth a look on the performance across sectors from Education, Economy, Social & Cultural issues and more

Forget artificial intelligence. How about (just) intelligence?
A humourous yet serious article on intelligence (or the lack of it) and work culture

Klips for 15th May

National 🇮🇳 | Skymet predicts monsoon arrival on June 4th
– Skymet also said rains are likely to be below normal this year

Economy & Business 💰 | Senior management exits at Jet put rescue plans into question
– The CEO, Vinay Dube, quit on Tuesday along with the CFO and Company Secretary
– This puts into question Jet’s seriousness about a recovery
– It’s also reported that its Chief People Officer has quit

Paytm launches physical credit card in collaboration with Citi
– The card called Paytm First is targeted at first time credit card users

Airtel scraps smaller postpaid plans, all plans will now start from ₹499/m
– The move is aimed at increasing overall ARPU which the company did not disclose in its latest results
– Plans below ₹499 will be phased out gradually

Tech 📱 | Uber brings ‘Quiet Driver Mode’
– The feature gives the option of letting the driver know you need ‘peace and quiet’
– It’s being debuted in the US under ‘ride preferences’

Op-Ed 📝
Interesting: India Is Shutting Down ATMs Even as People Use Them More

Opinion: WhatsApp’s End-to-End Encryption Is a Gimmick

Klips for 16th May

World 🌎 | US ‘blacklists’ Huawei as trade dispute escalates
– The order prevents Huawei, amongst others, from sourcing telecommunication equipment from US companies

National 🇮🇳 | EC suspends campaigning in WB citing violence
– However, campaigning can continue till 10PM tonight
– Narendra Modi was scheduled to conduct both his rallies today (till 8PM)
– Also, earlier in the day, Amit Shah had said the EC is not doing its ‘job’

Economy & Business 💰 | Tata Global Beverages to become sole FMCG arm of Tata Group
– The entity will be called Tata Consumer Products
– Tata Chemicals will transfer its consumer business to this new entity

Tech 📱 | Grofers raises $220mn from SoftBank Vision fund, others
– This represents the largest funding round for a grocery player in India

Op-Ed 📝
Interesting: In India election, a $14 software tool helps overcome
WhatsApp controls
‘How many messages you want to send, tell us: 10,000, 1 million, 2 million’

Opinion: WeWork Separates Buildings and Beer
An excellent article on ‘We’ and Uber IPO (detailed hence longish, but worth a read)

Klips for 17th May

World 🌎 | Trump announces skill based green card system
– In the proposal, skill-based green cards will increase to 57% from the current 12%
– The proposal is seen as a bid for the 2020 presidential elections

National 🇮🇳 | 9 killed in gun battle in Kashmir
– Security forces clashed with separatist forces and 2 soldiers and 2 civilians were killed
– It’s reported that one of the civilians was asked by the troops to search houses for militants, and was killed in the encounter

EC comes under severe criticism from all fronts for WB showing
– The opposition parties supported Trinamool as it criticised the EC’s move to end campaigning, but with a deadline benefitting the BJP

🗣CBI says Bofors probe to continue, even as it withdraws case from courts

Economy & Business 💰 | IndiGo shares fall 9% on reports of feuding co-founders
– A report in ET stated that Rahul Bhatia and Rakesh Gangwal have appointed legal counsel to sort out differences

Tech 📱 | TikTok tops iOS downloads charts for 5th straight quarter
– Whatsapp continues to be the most downloaded app on Android, as also overall, as per the report

Op-Ed 📝
West Bengal tango: on Election Commission of India

Klips for 18th May

National 🇮🇳 | In rare press conference, Modi does not answer questions
– In the Press Conference, Modi did not answer a single question and instead directed them to Amit Shah
– This was his first and only press conference during his 5 year term

Economy & Business💰 | Pakistan rupee slumps to 150/$ after IMF ‘bailout’
– IMF sanctioned $6bn recently to help Pakistan’s economy recover
– The underlying condition to the loan was that the Pak currency be left to ‘perform freely’

World 🌎 | Trump decrees car imports a ‘national security threat’, Toyota issues strong statement against him
– In an ‘unusual statement’, Japan’s largest automaker said Trump’s action ‘sends a message to Toyota that our investments are not welcomed’

Tech 📱 | MagicLeap buys Belgian startup that builds ‘hologram videoconferencing software’
– The AR focused startup has raised $2.6bn
– It recently raised funds from AT&T and Docomo

Op-Ed 📝
🗣 A referendum on the Prime Minister?

Narendra Modi and Amit Shah Have Met Their Match in Mamata Banerjee

Klips for 20th May

National 🇮🇳 | Exit Polls: NDA set to return to power with clear majority
– Most exit polls have predicted 300+ seats for the NDA
Key Statewise breakup:

Economy & Business 💰 | Air fares skyrocket in Summer vacation season
– Depending on sector, fares are 40-50% higher than the same time last year

Japan’s Orix to buy out IL&FS wind assets
– The company already owns 49% in each of it wind ventures with IL&FS

Tech 📱 | Google cancels Huawei’s Android license
– This will force Huawei to use Android’s open source version

Sport ⚽️ | Ahead of Roland Garros, Nadal beats Djokovic to win 9th Rome Masters title

Op-Ed 📝
Opinion: Of blurry snapshots and clear pictures

Klips for 21st May

National 🇮🇳 | Overall voter turnout for 2019 Lok Sabha polls at 67.11%
– This is the highest recorded turnout for General Elections (provisional)
– The turnout for 2014 was 66.40%

World 🌎 | Game of Thrones ends with record viewership
– 19.3mn people viewed the season finale in US as per HBO

Economy & Business 💰 | Stock markets see biggest single day gains since 2013 after exit polls
– The Sensex rose 1421 points or up 3.75%
– Adani group companies rallied most with Adani Enterprises clocking a jump of 27%

After elections, OMCs hike petrol and diesel prices
– Petrol prices rose 8-10 paise while diesel prices rose 15-16 paise across cities

Ford to cut 10% of white collar jobs to save on costs
– Around 7000 ppl will be let go by August and this is part of a larger restructuring that will save it $600mn

Tech 📱 | TikTok owner will now challenge Spotify, Apple Music with music streaming service
– The company, ByteDance,has already secured rights for its popular app TikTok
– The paid service is expected to launch soon and will be targeted at ‘emerging markets’

Op-Ed 📝
Interesting: Paytm, Paytm Everywhere But Profitability Nowhere In Sight 

Opinion: The New Right Is Beating the New Left. Everywhere

Klips for 22nd May

World 🌎 | French woman sues Boeing for Ethiopian crash, seeks damages of $276mn
– The woman’s husband was killed in the crash caused due to a faulty sensor (which had been reported 200 times to the FAA)
– In a written statement her lawyer said ‘Once again corporate greed has placed profits over safety with tragic consequences for the public’

🗣National 🇮🇳 | Anil Ambani withdraws defamation suit against Congress, Herald
– The ₹5000cr was filed in relation to the Rafale allegations

Economy & Business 💰 | Ola suspends food delivery business, Foodpanda; lays off most employees
– Ola bought Foodpanda in a stock deal valued at $40mn, 18 months ago

DHFL halts fresh deposits, renewals and pre-mature withdrawals
– This comes after a rating downgrade by CARE which has increased its borrowing costs as it tries to service its debt
– However, the company has yet not defaulted on its payments, though the downgrades are an indicator to it

Hinduja Group in talks to acquire stake in Jet Airways
– ‘Hinduja Group is evaluating the Jet Airways opportunity’ said a spokesperson
– It is likely that Etihad will dilute some of its stake or jointly bid with Hindujas
– Jet continues to run its JetPrivilege program offering tickets on other airlines in exchange for points

Airtel, Voda lose 30mn users, Jio adds 9mn in March
– This is as a result of Airtel and Voda forcing prepaid users to recharge every month (and thus removal of low ARPU, incoming-only users)

Sport ⚽️ | F1 legend Nicky Lauda passes away
– The 3 time champion was aged 70
#Lauda’s career and rivalry with James Hunt are documented in a must watch film Rush:

Op-Ed 📝
Interesting: Celebrity chef Jamie Oliver shuts most UK restaurants
– This signals a shift away from high street restaurants in UK as a number of such chains have shut down with ppl favouring delivery and takeaway option (like Deliveroo)

Opinion: Highs and lows of India’s equity markets
– Interestingly foreign investors were responsible for Monday’s rally as they pumped in ₹1734cr as domestic investors sold shares worth ₹543cr

Klips for 23rd May

National 🇮🇳 | Counting begins today from 8am

Economy & Business 💰 | DHFL shares crash on deposit curbs, downgrade
– The stock fell as much as 18%
– The NBFC is likely to default on its payments

Wirecard to aid PAN Card issuance
– The German payment company will help ‘collect and scan documents’ but more details are not available
– Its track record has been patchy with the FT running investigative reports alleging fraud against it.

IndiGo market jumps to 49.9% in April
– This is on the back of Jet Airways suspending its services
– Air India was a distant 2nd at 15%

Tech 📱 | Ireland begins first Privacy probe into Google
– The probe is related to how Google handles personal data for advertising
– Recently Pichai said ‘Privacy cannot be a luxury good’

Op-Ed 📝
🗣Interesting: The World’s Most Expensive Cities For Public Transport

Klips for 24th May

National 🇮🇳 | Modi stuns opposition with huge win
– The BJP is set to win 302 seats with the NDA around 350
– This is a gain from last time
– Surprisingly counting is still going on in certain seats
The ECI website for results and vote shares:

10 Key takeaways from the Elections 2019
– Includes major winners and losers, where parties made inroads, the overall picture and also assembly elections coverage
Also 10 key charts

Economy & Business 💰 | Asian shares at 4 month low on US-China trade war worries
– This impacted the markets in India as despite election results, markets ended negative
– The swing was a 1000pts intraday

Tech 📱 | Facebook removes 2.2bn fake accounts
– This number is was 1bn in the last quarter of 2018
– A large number of these accounts are disabled within minutes of them being created the company said and hence ‘not counted in active user metrics’

Op-Ed 📝
Opinion: Modi Reigns Supreme. Now India’s Economy Awaits

🗣Opinion: 12 reasons why Modi-Shah’s BJP got the better of Congress & everyone else

Klips for 25th May

World 🌎 | Theresa May to resign, Boris Johnson stakes claim
– May said, holding back tears, that her failure to deliver Brexit is the reason for her resignation
– Johnson was the face of the Brexit campaign, before leaving May’s cabinet, and is the favourite to succeed her

National 🇮🇳 | 21 killed, mostly students, as fire engulfs Surat coaching center
– Many students jumped out of the building as there was no escape route (4 died due to this)
– Most students were aged 15-19

Economy & Business 💰 | RBI proposes liquidity buffer for shadow banks
– The Liquidity Coverage Ratio is planned to be implemented in 4 years from April 2020
– NBFC are facing a liquidity crunch as of today and are largely unregulated by RBI (except for guidelines)

Markets jump 2%, a day after election results
– The Sensex closed 1.6% up at 39434, a record high

Tech 📱 💻 | SpaceX launches 60 satellites for Musk’s Internet venture
– The Starlink satellites will eventually ‘form a constellation of satellites’ to provide internet services on earth

Op-Ed 📝
Opinion: No Miracle Drug Should Cost $2.1 Million

Klips for 27th May

National 🇮🇳 |Imran Khan speaks with Modi, congratulates him on election victory

Modi to be sworn in as PM on Thursday 30th May

Economy & Business 💰 | Vistara promoters infuse ₹4000cr in carrier
– This is the largest fund infusion since the airline’s inception (as per MCA records) and will be used for fleet expansion
– Vistara recently got clearance to fly international routes
#MCA: Ministry of Corporate Affairs

NSSO and CSO to be merged into National Statistics Office (NSO)
– This follows recent controversies with GDP and jobs data
NSSO: National Sample Survey Office

Sport ⚽️ | How India’s squad stacks up against the rest in World Cup
– The World Cup kicks of on the 30th

Op-Ed 📝
Fire and laissez-faire: fix accountability for Surat tragedy

Klips for 28th May

National 🇮🇳 | Congress in disarray as Rahul Gandhi insists on stepping down
– There is no clarity on whether he will continue even after the CWC met on Saturday
#CWC: Congress Working Committee

Economy & Business 💰 | Fiat Chrysler in talks with Renault for $35bn merger
– If the merger goes through, the combined entity will become the 3rd largest automaker in the world
– The French govt is the biggest shareholder in Renault

IndiGo profits soar five folds in Q4
– Its profits jumped to ₹589cr up from ₹117cr a year ago
– However annual profits were down 93%

Tech📱 | IKEA to revamp app as store strategy shifts
– The app, to be launched first in France, will allow users to shop remotely and visualise products in their homes

Op-Ed 📝
Opinion: Modi, Resist the Urge to Be India’s Xi Jinping

Opinion: Shadow banking crisis to continue to haunt India’s financial system
Gulf News:

Interesting: Where Top Chefs Eat in Mumbai

Klips for 29th May

National 🇮🇳 | BJP consolidates gains in WB after defections
– 50 municipal legislators defected to the BJP, most of them from Trinamool Congress
– Assembly elections are due in WB in 2021

Economy & Business 💰 | After IndiGo, SpiceJet posts strong Q4 results
– Profits rose 22% q-o-q, but the airline reported an annual loss for FY19

FDI inflows fall for the first time in 6 years
– FDI for FY19 fell 1% to $44bn
– Sectors which saw the highest reduction were Pharma(74%) and telecom(56%)

Airtel Africa planning to list of London Stock Exchange

Tech 📱 | acquires iimjobs and Hirist
– The transaction is worth ₹80cr
– Naukri says it has 69mn registered ‘job seekers’ and 475,000 ‘live jobs’ available

Pokemon Go to soon reward ‘good sleep habits’
– The announcement came with the launch of the Pokemon Go+ Plus which can track sleep activity

Sachin Bansal invests $32mn in Ather Energy, in a $51mn investment round
– The startup manufactures EV scooters and is focused on putting up charging stations
– The website (which seems inspired by Tesla) is worth taking a look
– The scooter starts at ₹1.11L which includes a ₹24000 FAME 2 subsidy
Ather Energy:

Op-Ed 📝
Opinion: IndiGo – A Low-Cost Conqueror Is Coming for Emirates

Klips for 30th May

World 🌎 | Israel faces another election as Netanyahu fails to form govt
– The election will take place on 17th Sept
– Netanyahu claimed victory in the last elections held on 9th April

National 🇮🇳 | Jaitley writes to Modi saying he wants to step aside from role in Cabinet
– Cites health reasons for not being able to continue as FM

New Noida metro station averages only 20 riders a day
– The new Aqua line which was opened in January does not provide a direct link with the Delhi Metro
– Instead passengers have to cross a 300m corridor, although e-rickshaws are provided
– The line averages only 13000 passengers a day

Connaught Place 4th most expensive office area in Asia Pacific
– Mumbai’s BKC was 7th on the list
– Hong Kong, Tokyo and Singapore occupy the top 3

Economy & Business 💰 | Boeing’s 737 Max may not return until August, says IATA Chief
– The fleet has been grounded now for 3 months

Op-Ed 📝
Opinion: Act Now to Head Off Looming ‘Deepfakes’ Disasters
– On FB’s refusal to take down a Deepfake video of Pelosi watched by more than 2mn viewers and why this is important

🗣Interesting: Medimix turns 50, ropes in Parineeti Chopra to woo young customers

Klips for 31st May

World 🌎 | After China, Trump now looks to hit Mexico with tariffs
– Trump says this is a means to curb immigration
– Tariffs will be 5% till June 10 and then will be steadily increased
– Mexico is America’s 2nd largest trade partner

National 🇮🇳 | Amit Shah, Smriti Irani part of new Modi cabinet
– Suresh Prabhu, Sushma Swaraj, Jayant Sinha, Menaka Gandhi, Rajyavardhan Rathore are notable omissions from the previous Cabinet
– In all 23 Cabinet Miniters were sworn in
– Portfolios will be assigned today
A look at the New Cabinet: (BQ)
Economy & Business 💰 |

Tech 📱 | Uber loses another $1bn in last quarter
– While revenues from food delivery (UberEats) jumped, costs also rose substantially
– These are the first results for Uber since it went public with its share still trading 10% below IPO prices

Op-Ed 📝
Bing’s Not the Laughingstock of Technology Anymore
– While it is nowhere near what Google search is, Bing generates $7.5bn in revenues for Microsoft annually. It completed 10 years on 28th May
Bing Blogs: (original launch post from 2009)