PEOPLE NEWS: July 2018

Tuesday, July 31, 2018

Tech rout in US wipes out $300 billion, FAANG slammed hardest

65173386 65160913 65152319 By Elena PopinaThe rush to get out of US tech stocks entered its third day Monday as concerns mounted over how the storied FAANG bloc will fare amid rising interest rates and slower growth.All of the FAANGs retreated, with Facebook Inc. sinking 3.3 per cent and Netflix Inc. falling as much as 5.3 per cent. The FANG index retreated 2.5 per cent, widening its three-day loss to 9 per cent. This compares with a 1.4 per cent loss for the S&P 500 over the same time.Investors have been bailing from the space since the Facebook’s earnings hit July 25, prompting the biggest market-cap decline in US history. Market darlings since the 2016 presidential election, the group of tech megacaps has seen investors heading for exits with the advance seen as having gone too far, too fast.“Sentiment is turning sour in FANG, especially after earnings,” Michael Antonelli, an institutional equity sales trader and managing director at Robert W. Baird & Co, said in an email. “They are dragging the Nasdaq 100 down by its feet.”The selloff has widened losses in the S&P 500 Information Technology Index to 5.2 per cent, the biggest three-day retreat since March. The rout erased $240 billion from the market capitalization of the S&P 500 Information Technology Index to $6.3 trillion, from $6.6 trillion before Facebook reported a miss on its user growth.65210687 Sentiment on the tech megacaps has soured since Wednesday, when Facebook reported disappointing second-quarter user growth that knocked the stock down 19 per cent. To Bank of America’s Michael Hartnett, a rout in Facebook signaled a peak in tech megacaps, prompting him to recommend clients short the FAANG block.Support is wearing thin for technology companies. The S&P 500 Information Technology Index fell below its 50-day moving average on Monday, while the Nasdaq Composite Index and the Nasdaq 100 Index hover near that level. Investors last week pulled $1.4 billion from the largest exchange-traded fund tracking the Nasdaq 100 Index last week in the biggest withdrawal in seven weeks.

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Xiaomi Mi Note 4 Listed on TENAA, Tipped to Sport Mi 8 Explorer Edition-Like Transparent Back

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Mozilla Is Redesigning the Iconic Firefox Logo and Asking Users to Give Feedback

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Samsung Wireless Charger Duo Images Leaked, Galaxy Watch Gets Certified

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Live: Amit Shah speaks in RS over NRC

A day after NRC final draft release, Parliament is set for a lively session today. Stay with us for live updates and latest news.

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Gold Rate Today: Gold, silver trade lower in late morning deals

On the global front, gold continued to remain under pressure following strength in the dollar.

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Intanon survives major scare at World Badminton Championships

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Nishikori feeling 'tough' after overcoming wrist injury

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Mukand Group to invest Rs 750 crore to boost steel-making capacity in South India

The Mukand Group is investing about Rs 750 crore in raising steel-making capacity in southern India, augmenting output to meet increasing demand from car makers and engineering companies.The expansion plans include Rs 600 crore that will be spent by its subsidiary joint venture — Mukand Sumi Special Steel — to set up a new mill in Karnataka’s Hospet. Another Rs 150 crore will be invested into removing bottlenecks at its existing unit as Mukand gears up to cater to growing demand for speciality steels from automotive and engineering clients.Mukand Sumi Special Steel — in which Sumitomo Corporation bought 49 per cent stake for Rs 1,180 crore in May — has already acquired 100 acres adjoining Mukand’s existing plant at Hospet for the proposed construction and commissioning of a new wirerod-cum-bar-rolling mill, with finishing facilities.“This will create an additional 4 lakh tonnes per annum (ltpa) capacity by 2020,” said Rajesh V Shah, co-chairman of Mukand. He also said that various options for de-bottle-necking at Hospet are being explored for increasing steel capacity to around 1.5 ltpa.The combined manufacturing capacity of Mukand from its facilities at Thane, Maharashtra, and Hospet is 6 ltpa of special and stainless steel long products.“The capacity utilisation between our plants in 2017-18 was 75 per cent –80 per cent , which, we hope, will rise to around 90 per cent in 2018-19,” Shah added.Mukand, which posted a turnover of Rs 3,106.65 crore in 2017-18, manufactures more than 400 grades of special and alloy steels widely used in the automobile and auto component industry for products such as fasteners, bearing transmissions, crankshafts, steering components, and suspension springs.The company is betting on greenfield and brownfield expansion to raise capacity at a time when the domestic steel sector is witnessing some consolidation. Several debt-laden steel companies undergoing insolvency resolution under the National Company Law Tribunal are in the process of being acquired. However, Mukand is not looking at acquisitions to drive growth, Shah said.Over the past two decades, Mukand has spent about Rs 100 crore on waste recycling and management. While flue (waste) gases from blast furnaces at Hospet are utilised at the captive power plant and for reheating furnaces for rolling mills, Mukand meets almost 45 per cent of its power needs at Thane by buying wind power.

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India eager to cement No 1 status with series win in England

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Second-ranked Wozniacki stresses fitness ahead of US Open

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Swiggy Super Is a Paid Subscription Programme With Free Food Delivery, Priority Customer Care

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Swiggy Super Is a Paid Subscription Programme With Free Food Delivery, Priority Customer Care

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Call of Duty: Black Ops 4 Beta Release Date, Download Size, System Requirements, and Everything Else You Need to Know

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OnePlus Accounted for 40 Percent of Premium Smartphones Sold in India in Q2

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Lewis Hamilton's exotic fleet of cars

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RRB recruitment 2018: कांग्रेस सांसद का सवाल- ऑनलाइन परीक्षा के लिए 2 हजार किलोमीटर दूर क्यों बनाए सेंटर

Railway Recruitment Control Board यानी RRB 9 अगस्त को असिस्टेंट लोको पायलट और टेक्नीशियंस की भर्ती के लिए ऑनलाइन परीक्षा का आयोजन कर रहा है। कांग्रेस की सांसद रंजीत रंजन ने लोकसभा में कहा है कि जो प्रतियोगी इस परीक्षा में शामिल होने जा रहे हैं उनमें से कुछ को जो सेंटर दिए गए हैं वो उनके घर या गृह जनपद से 2 हजार किलोमीटर दूर हैं। रंजन ने कहा कि यूपी, बिहार और राजस्थान के प्रतियोगियों के अलावा दिव्यांगों और महिला प्रतियोगियों को भी इससे काफी दिक्कत का सामना करना पड़ेगा। बता दें कि 9 अगस्त को होने वाली इस परीक्षा के लिए कुल रिक्त पद 26,502 हैं। आवेदकों की संख्या करीब 47 लाख है। रंजन का आरोप है कि प्रतियोगियों को घर से हजारों किलोमीटर दूर सेंटर देकर रेलवे ने गलत किया है।

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

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UGC NET Result 2018: इस सप्ताह जारी किया जा सकता है नेट एग्जाम का रिजल्ट, ऐसे कीजिए चेक

यूनिवर्सिटी ग्रांट कमीशन यानी UGC इसी हफ्ते नेट परीक्षा का परिणाम (UGC NET Result 2018) जारी कर सकता है। बता दें कि नेट एग्जाम जुलाई में हुआ था। अगर आपने भी यह परीक्षा दी है तो आप अपना रिजल्ट इसकी ऑफिशियल यानी आधिकारिक वेबसाइट cbsenet.nic.in पर जाकर चेक कर सकते हैं। CBSE ने पिछले महीने की 8 तारीख को इस परीक्षा का आयोजन किया था। इसके लिए पूरे देश में 91 सेंटर बनाए गए थे और परीक्षा में कुल 84 विषय थे। खास बात ये है कि अब तक इस परीक्षा का रिजल्ट परीक्षा होने के करीब तीन महीने बाद ही जारी होता था। लेकिन, ये पहली बार है कि एक महीने से भी कम वक्त में ये रिजल्ट जारी किए जाने की संभावना है। कुछ और बदलाव भी किए गए थे। पहले इस परीक्षा में तीन पेपर होते थे लेकिन इस साल पैटर्न बदला गया और तीन की जगह सिर्फ दो पेपर्स ही हुए। करीब साढ़े ग्यारह लाख प्रतियोगी इसमें शामिल हुए थे।

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

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SSC में 12वीं और 10वीं पास के लिए निकली सरकारी नौकरी, अधिकतम आयु सीमा 40 वर्ष

Government Jobs in JSSC: झारखण्ड स्टाफ सिलेक्शन कमीशन ने 10वीं और 12वीं पास अभ्यर्थिओं के लिए कई पदों पर सरकारी नौकरी निकाली है. आवेदन के लिए अधिकतम आयु सीमा 40 वर्ष है.

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

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SSC ने Constable GD के पदों पर आवेदन प्रक्रिया पर रोक लगाई

SSC Constable GD Date: कर्मचारी चयन आयोग ने Constable GD के पद पर आवेदन प्रक्रिया की तारीख आगे बढ़ाई, यहाँ जानिए कब से शुरू होगी ऑनलाइन आवेदन प्रक्रिया.

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

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ICAI ने CA इंटरमीडिएट परीक्षा का परिणाम किया घोषित, icaiexam.icai.org पर देखें रिजल्ट

ICAI में CA Intermediate की परीक्षा देने वाले विद्यार्थिओं के लिए एक जरूरी खबर, ICAI में CA Intermediate की परीक्षा का परिणाम घोषित कर दिया है. रिजल्ट icaiexam.icai.org पर देखा जा सकता है.

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

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DeMon: Hyderabad company with ghost address deposited Rs 3,178 cr

A city-based company that deposited and withdrew Rs 3,178 crore in banks post-demonetisation and is being probed by the Serious Fraud Investigation Office (SFIO) has a ghost registered address at Erragadda in Hyderabad.

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US warns against IMF bailout for Pakistan

"There's no rationale for IMF tax dollars - and associated with that, American dollars that are part of the IMF funding - for those to go to bail out Chinese bondholders or China itself," Pompeo said.

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New e-com policy: Cheap online shopping may end

The draft e-commerce policy has proposed that 'deep discounts' be stopped from a specified date to regulate the e-commerce sector. The plan is to include multiple aspects in the legislation — from consumer protection and grievance redressal to ownership, FDI, local storage of data, protecting micro, small and medium enterprises and mergers and acquisitions.

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Top 5 spells by Indian pacers in England

Indian fast bowlers have used the English conditions to produce some memorable displays. TOI lists its top 5.

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Kiki dance dare keeps police on their toes

In kiki challenge, people step out of their cars, and dance to the tunes of singer Drake's track ‘In My Feelings’ from his latest album ‘Scorpion’. In Punjab, the music video has been widely circulated on WhatsApp. Local versions of the challenge have been uploaded on sites like Instagram.

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Top five memorable spells by Indian pacers in England

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Ashwin and Pandya give batting depth to India: Sunil Gavaskar

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Women's Hockey WC: 'Italian job' will be India's test of character

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Blast from the past: When India promised a lot but lost steam

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I would play Kuldeep Yadav over other spinners: Dilip Vengsarkar

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'New Man' Neymar confesses exaggeration at World Cup

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IOA asks minor sports to bear expense of Asiad kit, uniform

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Be angry and challenge Kohli, Vaughan's message to England

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Indian are Test No.1 for a reason, says Alastair Cook

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Need to respect English conditions, be patient: Rahane

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Inducted in NADA panel, Sehwag yet to attend hearings

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Constantine says sorry after FIFA U-17 World Cup team criticism

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Karman Kaur only 6th Indian to crack WTA top-200

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ICC congratulates England for their 1000th Test

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FIFPro complains of insufficient break for World Cup players

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Chance for Kohli to topple Smith in ICC Test rankings

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India colts trounce SL by six wickets in first Youth ODI

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PM Narendra Modi interacts with CWG TT medallists

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Thomas hailed as 'Perfect Poster boy' after Tour de France win

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Vijay Mallya 'devastated' to lose control of Force India F1 team

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New Crypto-Miner PowerGhost Targeting Corporates in India: Kaspersky Lab

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Xiaomi, Oppo Reportedly Planning to Launch Foldable Smartphones in 2019

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Uber Hits the Brakes on Self-Driving Trucks in the US

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Realme Separates From Oppo to Create Independent Brand, Aims to Create Smartphones for "Young People Around the World"

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iOS 12 Developer Beta 5 Hints at 'Dual-SIM' Support for iPhones; New tvOS 12, macOS 10.14 Mojave, watchOS 5 Developer Beta Versions Released Too

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