IBM Corporation has named Arvind Krishna as its new Chief Executive Officer, replacing longtime CEO Virginia Rometty. 57 year old Krishna, is currently the head of IBM’

IBM names Arvind Krishna CEO replacing Ginni Rometty

IBM Corporation has named Arvind Krishna as its new Chief&nbsp;Executive Officer, replacing longtime CEO Virginia Rometty. 57 year old Krishna, is currently the head of IBM&rsquo;s cloud and cognitive software unit and was a principal architect of the company&rsquo;s purchase of Red Hat,&nbsp;the world's leading provider of enterprise open source solutions, including Linux.
Rometty, who became IBM's first female CEO in 2012, will continue as executive chairman and serve through the end of the year, and will retire after almost 40 years with the company.
Krishna had joined IBM in 1990 and has an undergraduate degree from the Indian Institute of Technology, Kanpur, and a PhD in electrical engineering from the University of Illinois.

IBM Corporation has named Arvind Krishna as its new Chief Executive Officer, replacing longtime CEO Virginia Rometty. 57 year old Krishna, is currently the head of IBM’s cloud and cognitive software unit and was a principal architect of the company’s purchase of Red Hat, the world's leading provider of enterprise open source solutions, including Linux. Rometty, who became IBM's first female CEO in 2012, will continue as executive chairman and serve through the end of the year, and will retire after almost 40 years with the company. Krishna had joined IBM in 1990 and has an undergraduate degree from the Indian Institute of Technology, Kanpur, and a PhD in electrical engineering from the University of Illinois.

Twitter has said that it is planning to offer a subscription service, in which users will have to pay for special content from high-profile accounts, as part of an econ

Twitter has said that it is planning to offer a subscription service, in which users will have to pay for special content from high-profile accounts, as part of an economic model. The social media giant announced the potential new 'Super Follows' service at its annual investor meeting, as it is looking out for ways to generate revenue apart from targeted advertisements. However, no timeline has been given for when Super Follows might become a feature, but it is expected to roll-out in the coming months.

Dalal Street is feeling the global jitters of rising yields indicating cheap money bets are lowering and inflationary bets rise. Wall Street saw t

Dalal Street is feeling the global jitters of rising yields&nbsp;&nbsp;indicating cheap money bets are lowering&nbsp;and inflationary bets rise.&nbsp; Wall Street saw the biggest fall since October and the&nbsp;nervousness has spread to Dalal Street as well with the Sensex and Nifty both trading much lower in the final day of trade of the week.&nbsp;&nbsp; &nbsp; Bond yields in the US have now surged back to the pre-pandemic levels and even though it indicates higher growth it signals possible inflation and cost of money rising. The Indian bond markets are also&nbsp;signaling&nbsp;the&nbsp;same&nbsp;.&nbsp;The rupee continues to trade significantly lower to the greenback&nbsp;while brokerages&nbsp;are raising their&nbsp;year end&nbsp;target for the&nbsp;10 year&nbsp;yield as well.&nbsp;&nbsp; Financial and technology continuing to be sore point on Dalal Street mirroring global&nbsp;weakness&nbsp; in&nbsp;sectors.&nbsp;&nbsp; &nbsp;

Rising momentum in business activity led by public spending has helped the Indian economy take the much-needed exit track from recession in the Oct-Dec quarte

Rising momentum in business activity led by public spending has helped the Indian economy take the&nbsp;much-needed&nbsp;exit track from recession in the Oct-Dec quarter last year.&nbsp;&nbsp;Economists&nbsp;surveyed expect&nbsp;the economy to show a modest 0.8% expansion in the final quarter of 2020. Government will release the data on late evening on Friday.&nbsp;&nbsp;Public spending took the lead in accelerating activity as disbursements rose 29% in October to December vs a contraction of 12% in the previous quarter.&nbsp;&nbsp; &nbsp;The RBI Governor also reiterates that growth had become very dependent on public expenditure even before the pandemic hit. In&nbsp;fact, spending analysis shows that every rupee spent by the govt results in a growth of Rs 3 in the economy.&nbsp;Consumption activity was aided by the festive season and it was noticeable in the sales of consumer durables and&nbsp;non-durables&nbsp;in the final quarter of the calendar year. Auto sales numbers indicated a big recovery in sentiment seeing the biggest single quarter jump in the last 2&nbsp;years,&nbsp;though the low base also helped.&nbsp;&nbsp;This is definitely light at the end of the tunnel and not an aberration as indicators in January are holding onto the turnaround during the festive period. Markit India PMI has been above the&nbsp;50 mark&nbsp;indicating an expansion since&nbsp;September.&nbsp;But will this growth hold that&rsquo;s the real question and the market remains divided on the response for now.&nbsp;&nbsp; &nbsp;

Global markets under pressure as Wall Street saw the worst sell-off since October.

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&amp;P saw the biggest drop in a month sliding&nbsp;2.5%.&nbsp; The tech tumble exaggerated it's losses with the Nasdaq&nbsp;Composite&nbsp;slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like&nbsp;Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.
Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike.&nbsp;
Higher rates on the yield signal bad news for corporates&nbsp;especially tech companies that bank of them for lower borrowing rates.&nbsp;

As resentment grows against the govt due to the hike in fuel prices, the Finance Ministry and the Reserve Bank of India are in agreement on the need for coordinated act

Finance Minister echoes RBI&nbsp;stance on fuel price hike
Govt: Centre &amp; states need to talk to reduce fuel prices
Sitharaman: no hiding that fuel is a key revenue source
'If consumer is to pay less, Centre and States need to talk'
RBI&nbsp;Guv: cost of&nbsp;fuel affects manufacturing, production&nbsp;
'Calibrated&nbsp;reduction of taxes crucial as it impacts inflation'

SEBI responding to the trading halt has questioned by India’s largest bourse NSE on why trading did not migrate to the disaster recovery site. The

SEBI responding to the trading halt has questioned by India&rsquo;s largest bourse NSE on why&nbsp;trading did not migrate to the disaster recovery site.&nbsp;&nbsp;The DR site is a&nbsp;backup&nbsp;site which is located in another city and is a replica of the main production site in Mumbai&nbsp;
In&nbsp;fact, the National Stock Exchange had informed brokers in October that for two complete trading&nbsp;days,&nbsp;September 28 &amp; 29 the bourse had operated entirely out of the disaster recovery site, notably without any issues.&nbsp;&nbsp;Ironically the next round of testing is due end of March.
SEBI has sought a complete report including the details of internal assessments which led to the 4-hour trading halt&nbsp;on Wednesday.&nbsp;SEBI however reassured investors that&nbsp;the market regulator&nbsp;would take&nbsp;all necessary measures to ensure rectification of the underlying causes&nbsp;including addressing institutional deficiencies.&nbsp;

The shine for the yellow metal seems to be dulling with gold prices falling nearly ₹10,000 from the peak it scaled in August 2020. In fact, gold is now h

The shine for the yellow metal seems to be dulling with gold&nbsp;prices&nbsp;falling nearly ₹10,000&nbsp;from the peak it scaled in August 2020. In fact, gold is now headed for a second&nbsp;monthly decline as it sinks towards an&nbsp;8 month&nbsp;low.&nbsp;&nbsp;
Stronger returns in the US bond market&nbsp;with global central banks continuing to support growth has dulled demand for gold. Meanwhile, Goldman Sachs has cut its gold forecast, citing&nbsp;rising risk appetite for assets&nbsp;as a&nbsp;factor&nbsp;for the&nbsp;price&nbsp;underperformance.&nbsp;
Rising bond yields have always led to lower gold prices and with US yields hovering near 1 year high the demand for gold and thus the prices have seen a consistent correction. In fact, reports&nbsp;indicate&nbsp;&nbsp;holdings&nbsp;of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, have&nbsp;fallen&nbsp;to their lowest since May 2020

Private hospitals across the nation are gearing for the vaccine rush as they await more details from the government. India’s largest healthcare chain Apollo

Private hospitals across the nation are gearing for the vaccine rush as they await more details from the government. India&rsquo;s largest healthcare chain&nbsp;Apollo Hospitals was quoted saying that&nbsp;500 million vaccinations&nbsp;in 60 days&nbsp;is an achievable aim. They also&nbsp;said they expect&nbsp;over 25,000 private&nbsp;centers&nbsp;to be carrying out the vaccine rollout from March 1.&nbsp;&nbsp;
The price still remains a question, reports in digital media indicate the govt is looking at ₹400/dose which&nbsp;translates&nbsp;to ₹800 for the full vaccination schedule.&nbsp;Most private hospitals have reiterated that if the procurement price for the hospitals is the same as the govt then pricing of ₹400/dose will be adequate to cover the costs.&nbsp;&nbsp; &nbsp;

A cautious call on growth from the international ratings agency Moody’s ahead of Q3 GDP release tomorrow. Moody’s though expects India’s GDP numbers t

A cautious call on growth from the international ratings agency Moody&rsquo;s ahead of Q3 GDP release on Friday.&nbsp;Moody&rsquo;s though, expects India&rsquo;s GDP numbers to rise sharply&nbsp;to 13.5% next fiscal year; this is higher than the 10.5% projection from the RBI for FY&rsquo;22.&nbsp;&nbsp;They do&nbsp;however&nbsp;expect the cheer to moderate, as growth is likely to slow to 6.2% in FY&rsquo;23 as the low base effect also wears out.&nbsp;&nbsp;
Holding a negative outlook on India, Moody&rsquo;s warns that the&nbsp;&ldquo;Risk to growth forecast for India is tilted to the downside.&rdquo;&nbsp;
India will release GDP for the period of October-December 2020 on&nbsp;Friday,&nbsp;where data will indicate that the economy has finally exited recession with&nbsp;a&nbsp; projected&nbsp;growth rate of 0.5%.&nbsp;&nbsp;

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now fina

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now finally let Axis be a joint venture partner in the company, something that the entities had announced in April 2020.
Now that all the pins have fallen in place for the deal, it also allows Axis entities to raise their stake further by 7% which they intend to do in a couple of years.
Max Life is the fourth-largest private life insurer in India, while Axis is India&rsquo;s third-largest private bank.

Following in Google's footsteps, Facebook has said that it plans to invest $1 billion to "support the news industry” over the next three years. The social network

Following in Google's footsteps, Facebook has said that it plans to invest $1 billion to "support the news industry&rdquo; over the next three years. The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organisations, said it has invested $600 million since 2018 in news. Google said in October last year that it would pay publishers $1 billion over the next three years. News companies want Google and Facebook to pay for the news that appears on their platforms.

Digital platforms such as Facebook and Google will now as per law have to pay publishers when linking their content on news feeds or in search results on their

Digital platforms such as Facebook and Google will now have to pay publishers when linking their content on news feeds or in search results on their platforms.&nbsp;
The Australian Parliament has passed The News Media and Digital Platforms Mandatory Bargaining Code. This comes at a time when social media giants like Facebook and Google are already trying to tie up with news outlets across the world&nbsp;
Facebook&nbsp;has announced that it plans to spend at least $1 billion in the news industry over the next three years. Facebook&nbsp;says&nbsp;it has reached agreements with publishers in the U.S. similar to the deal stuck in UK.

The extradition fate of Nirav Modi, the diamond merchant accused in the ₹ 14,000 cr PNB money laundering scam will be decided by a UK court today. The 2 y

A UK court will rule today on the extradition of Nirav Modi, the diamond merchant accused in the ₹&nbsp;14,000 cr PNB money laundering scam
The 2 year long extradition battle will end in a few hours as the UK court rules. Nirav meanwhile has remained imprisoned in the Wandsworth Prison in south-west London.
Nirav Modi is faced with two sets of criminal proceedings one with the CBI and the other the other with the Enforcement Directorate.&nbsp;
The CBI case relating to $2 bn worth fraud where he is accused of producing fake loan agreements to get a loan from Punjab National Bank. Charges of evidence tampering and intimidating witnesses was later added as well . Meanwhile the ED is pursuing charges of laundering the money he fraudulently received from state run PNB.&nbsp;

ndia’s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed from

India&rsquo;s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed report from India&rsquo;s largest exchange on the technical glitch that halted trade for over 4 hours.&nbsp;
National Stock Exchange is expected to submit it&rsquo;s report before Friday but this may just be the preliminary submission. This is not a first for the&nbsp;NSE, the exchange halted trade for 3 hours in 2017 again due to a technical glitch.&nbsp;
 In fact SEBI had slapped a Rs 50 lakh fine on NSE in 2019 when NSE NOW, a trading terminal for traders, was not working properly in Gujarat, Rajasthan and in some parts of Maharashtra.Infact&nbsp;SEBI in it&rsquo;s annual report last year had indicated the need of a plan to compensate investors for losses due to technical glitches.&nbsp;

“Government has no business to be in business” that was the clear and concise message from PM Modi as the govt batted aggressively for privatisation.

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified in its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not upd

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not updating . It was not long before traders realised there was a systemic problem as the none of the Indices listed across the NSE were updating.
 At 11:40 for the second time in the last 5 years the National Stock Exchange halted trade across segment cash and F&amp;O segment citing a technical glitch.&nbsp;
 What followed was just whispers of communication confusion with no official word from the bourse traders speculated what would happen to open positions just a day ahead of expiry.&nbsp;
 3 hours into the trading halt India&rsquo;s largest brokerage Zerodha finally decided to layout a gameplan for its users as NSE had still not provided any clarity. The discount broker tweeted Plan of action: If NSE isn't back up by 2.45 pm, we will block all new MIS &amp; CO orders for the day and attempt to square off all equity MIS &amp; CO positions on BSE. Unfortunately, we will not be able to do anything with intraday F&amp;O positions if NSE isn't back up
 It was just minutes before close that NSE announced that trading hours would be extended by both exchanges from 3:$5 upto 5 pm. The message was short and for many almost too late . Zerodha sent out a message to their clients &nbsp;if NSE had informed brokers of a potential reopening or extension of trading hours, at least by 3 PM, we, along with many other brokers would not have had to take risk mitigation measures and square off positions on BSE. Unfortunately, because there were no updates given to brokers, we had no other choice. The last minute notification of the trading extension at 3:17 PM came a little too late.

Telecom giant Airtel stepped into the ad biz by launching an AdTech platform Airtel Ads. This allow brands to target customers with relevant advertisements and for cust

Telecom giant Airtel stepped into the ad biz by launching an AdTech platform Airtel Ads. This allow brands to target customers with relevant ads and for customers to get targeted offers as per consent.
Sunil Bharti backed Airtel Ads has been in beta testing for a while and has already had over 100 brands sign up on the platform. Airtel is hoping to leverage its 320 million customers across businesses especially the 190 mn users on its digital properties such as Wynk, Xstream and Thank for Airtel Ads
 On concerns of privacy and data sharing Airtel was quick to reassure that user data never leaves their ecosystem when the ads are delivered to users. Secondly, as the user and the brand is on the same platform the data is not shared with any intermediaries.
 The digital advertising pie is expected to increase to $8 bn by 2025, that is a four fold increase from the current spend of $2 billion across industries

The National Stock Exchange (NSE) has halted trading as it is facing a technical glitch. The benchmark Nifty 50 has not been updated since 10:08 am. The index is curren

The National Stock Exchange (NSE) has halted trading as it is facing a technical glitch. The benchmark Nifty 50 has not been updated since 10:08 am. The index is currently frozen at 14,820-level up 112 points or 0.77%.&nbsp;Meanwhile, the NSE&nbsp;said it was&nbsp;working on restoring the systems as soon as possible. However, there is no confirmation on reopening trade today. The Bombay Stock Exchange or the BSE&nbsp;continued to have normal trading in all segments.

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it’s list. This

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it&rsquo;s list.&nbsp;
This is will mark the debut of Tata Consumer Products previously called Tata Global beverages into Nifty as it joins in ranks with peers Hindustan Unilever, Nestle, Britannia. The weight of consumer stocks in the benchmark will rise to over 11.5% with the inclusion&nbsp;
Tata Consumer holding key brands such as Tata Tea, Tetley, Tata Salt &amp; Himalayan water will be the 5th Tata Group company in the Nifty after TCS, Tata Steel, Tata Motors and Titan.

The Indian workforce can expect an average of 7.7% increment in 2021 as per the Aon India Salary Increase Survey . This marks a rise from 6.4% last year but ex 2020 it

The Indian workforce can expect an average of 7.7% increment in 2021 as per the Aon India Salary Increase Survey . This marks a rise from 6.4% last year but ex 2020 it is still the lowest salary increase since post financial crisis in 2009. (can we use the graph they have in their presentation on page 3). The rise in salaries is in co-relation with the fact the Indian economy is expected to get back on the growth track in the current year. GDP numbers due on Friday should indicate that India has exited the recession.
 No surprises that e-commerce and VC backed companies are likely to see salary hikes above the national average at 10.1% . Tech companies follow in close with an expectation of 9.7% hike. It will remain a struggle for those in Hospitality sector with a projected 5.5% rise as the industry continues to limp back into shape.
 Aon survey also indicates that average variable pay&nbsp; as a percentage the fixed pay will come down across sectors led by financial institutions.
 With 88% companies surveyed intending to give salary increases in 2021, as compared to 75% companies in 2020 the economic indicators are seemingly on the mend. Infact at 7.7% the pay hike will be better than most major economies, including Japan, the US, China, Singapore, Germany and the UK, where the average salary growth will be between 3.1% and 5.5%. (Last can also use a graphic with flags and % of hike anticipated from the presentation)

Indian-origin Arvind Krishna named new CEO&nbsp;of IBM
Krishna&nbsp;heads IBM's&nbsp;Cloud and Cognitive Software unit
He replaces IBM's&nbsp;longtime CEO Virginia Rometty
Rometty&nbsp;stays on as Executive Chairman on IBM&nbsp;board
Arvind Krishna is an alumnus of&nbsp;IIT-Kanpur

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