Domestic markets pared gains to halt their three-day record closing streak on Wednesday. Benchmark indices turned red at closing as Sensex dropped 248 points to settle

Markets halt 3-day record closing streak, Nifty Bank underperforms

Domestic markets pared gains to halt their three-day record closing streak on Wednesday. Benchmark indices turned red at closing as Sensex dropped 248 points to settle at 39,502 while Nifty shed 68 points failing to hold the 11,900 mark dragged by PSU banks, metals and auto stocks. Broader markets underperformed peers as both midcap and smallcap fell over 0.7% each while Nifty Bank lost over 300 points. The market also turned in favour of declines.

Two of the world's largest content companies are merging their assets together to create a $150 billion content giant. AT&T and Discovery have agreed to merge their

Two of the world's largest content companies are merging their assets together to create a $150 billion content giant. AT&amp;T and Discovery have agreed to merge their media assets into a separate company .
AT&amp;T owns CNN, HBO and Warner Bros. after it acquired Time Warner, since renamed to WarnerMedia. Discovery&rsquo;s channels include Animal Planet, TLC and the Discovery Channel.
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No pandemic pain for startup fund raising with a rush of new investments coming in. Here are some of firms in the startup spotlight-: Moglix becomes I

No pandemic pain for startup&nbsp;fund raising with a rush of new investments coming in. Here are some of firms in the startup&nbsp;spotlight-:
<ul>
<li>Moglix&nbsp;becomes India's latest billion dollar startup&nbsp;as this business-to-business (B2B) commerce platform backed by Tiger Global raised $120 million from Falcon Edge and Harvard Management Company.&nbsp;</li>
<li>Unicorn fintech firm Pine Labs has reportedly secured&nbsp;$285 million in fresh funding which values the firm at $3 billion.</li>
<li>Eyeing better growth Lenskart has received&nbsp;$95 million in funding from KKR. The PE firm will acquire stake from previous investors&nbsp;TPG Growth and TR Capital.</li>
</ul>

Microsoft has revealed that it conducted a probe into co-founder Bill Gates’ romantic relationship with an employee in 2019, while the incident occurred in the year 200

Microsoft has revealed that it conducted a probe into co-founder Bill Gates&rsquo; romantic relationship with an employee in 2019, when it was made aware of the incident that occurred almost two decades ago, in the year 2000.
Microsoft said in a statement that the company&rsquo;s board held a &lsquo;thorough investigation&rsquo; into the relationship, assisted by an external law firm, but didn&rsquo;t reach a conclusion as Bill Gates had stepped down before it could be completed.
A report by Dow Jones says that Microsoft&rsquo;s directors privately found Gates&rsquo; relationship with the female employee to be problematic, and decided that he should step down from the board.
A spokesperson for Bill Gates said that his decision to step down had nothing do with the affair, and that it ended amicably.

Dalal street cheered India's moderating Covid tally as the domestic benchmark indices logged their best single-day rally in almost two months. Nift

Dalal&nbsp;Street cheered India's moderating Covid tally as the&nbsp;domestic benchmark&nbsp;indices&nbsp;logged their best single-day rally in almost two months.
Nifty Bank surged 4% to record the biggest single-session gain since the budget day, contributing the most to a near 2% surge in Nifty and Sensex&nbsp;on Monday.
Nifty ended the session 1.67% higher at 14,923 and the Sensex&nbsp;closed 848 points higher at 49,580.
Shares of&nbsp;Hester Biosciences&nbsp;have rallied 33% in the past two trading days, after the company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from&nbsp;Bharat Biotech.

Big spike in prices of basic metals, fuel and power has led to a record high inflation in April clocking in at 10.39%. The biggest culprit remains oil prices whi

Big spike in prices of basic metals, fuel and power has led to a record high inflation in April clocking in at 10.49%.&nbsp;
The biggest culprit remains oil prices which will continue to be a pain point in May as well.&nbsp;Inflation in the fuel and power basket soared to&nbsp;20.94% in April. Manufactured products inflation stood at 9.01%.&nbsp;
Prices have hardened from 4.3% in February to 10.3% in April and economists seeing further jumps in May as the base from last year remains low.&nbsp;
&nbsp;
&nbsp;

Well, Elon Musk has been giving a hard time to his followers as the technoking is making it really difficult to comprehend if he supports Bitcoin and tro

Bitcoin&nbsp;is down to the lowest level in 3 months cracking below the $45,000 mark as Elon&nbsp;Musk&nbsp; sent followers into frenzy decoding if he is still backing the cryptocurrency or has he moved&nbsp; his bets entirely to&nbsp;Dogecoin.&nbsp; As speculation of Musk selling his Bitcoin&nbsp;holdings emerged on Twitter, he clarified on Monday that&nbsp;Tesla has not sold any Bitcoin.
After suspending Bitcoin&nbsp;as a payment for Tesla a few days back, Musk has been seen countering pro-Bitcoin&nbsp;posts on Twitter.&nbsp;In a reply to a Twitter thread by a famous Bitcoin-supporter&nbsp;Peter McCormack&nbsp;where he was comparing Bitcoin and Dogecoin, the Dogefather&nbsp;said&nbsp;threads like this make him want to go all-in on Doge. He even said that&nbsp;Bitcoin is actually highly centralized.
The speculation of Musk dumping Bitcoins&nbsp;became stronger when he replied saying "indeed"&nbsp;&nbsp;to a Twitter post saying "Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their Bitcoin holdings." Bitcoin&nbsp;plunged sharply after this, from around $58,000 to $42,000.
Only three days&nbsp;back, the Dogefather&nbsp;tweeted that he was&nbsp;working with Doge developers to improve system transaction efficiency even as the world heard him calling Dogecoin&nbsp;a "hustle" in the Saturday Night Live a week ago. Lately,&nbsp;Musk even added that the Dogecoin is "potentially promising" and that "it wins hands down" praising the features of the meme-token.

Air India's planes to vessels belonging to the Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs are all

Air India's planes to vessels belonging to the&nbsp;Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs&nbsp;are all potential assets Cairn is eyes to recover it's $1.2 billion arbitration award.&nbsp;
PTI reports that assets are across several jurisdictions are being identified for potential seizure by energy giant Cairn to collect it's dues&nbsp;from the Indian&nbsp;government.
Cairn had filed a lawsuit in a New York court to get Air India recognised as the alter ego of India and that "it should be held jointly and severally responsible for India's debts, including from any judgment resulting from recognition of the award". If the court ruling sides with Cairn then&nbsp;it can seek seizure of assets in the US such as airplanes, immovable assets and bank accounts to recover the amount it was awarded by the arbitration tribunal.
&nbsp;

As the vaccine shortage continues large conglomerates are looking to import vaccines for employees as per reports. Mint reports that as per sources Tata Group is

As the vaccine shortage continues large conglomerates are looking to import vaccines for employees as per reports.&nbsp;
Mint reports that as per sources Tata Group is likely to float a global tender for vaccines very soon. Tata Group has over 70,000 employees across the salt to software empire and is already working on the backend logistics for importing the jabs.&nbsp;
Reports also indicate that Mukesh Ambani promoted Reliance Industries is seeking tie-ups with global manufacturers to procure vaccines directly for its employees.&nbsp;

The IMD has issued an orange alert for Mumbai warning of very heavy rains in with strong winds as Cyclone Tauktae. On Monday morning, the cyclone is 170 kil

The IMD has issued an orange alert for Mumbai&nbsp;alerting that the cylone has now intensifed into an&nbsp;extremely severe cyclonic storm.
On Monday morning, the cyclone is 170 kilometres from Mumbai. Winds up to 80 kilometres an hour will likely affect the financial capital through Monday, IMD said.
As many as 580 Covid-19 patients were shifted from three jumbo covid&nbsp;centres to hospitals and vaccinations stand cancelled as winds and rain sweep across the city. Many places across South Mumbai&nbsp;to Thane are facing electricity outages and disruptions in internet connectivity. Mumbai&nbsp;airport as well are at standstill due to the cyclonic storm.

AT&T and Discovery are in talks for a possible mereger of media assets which would to create an entertainment and lifestyle content giant. Internati

AT&amp;T&nbsp;and&nbsp;Discovery&nbsp;are in talks for a possible merger of media assets which would to create an entertainment and lifestyle content giant worth $150 bn.
International news reports indicate that talks are in advanced stages and an announcement could be made this week.&nbsp;The deal would bring together such brands as HBO, HBO Max,&nbsp;CNN,&nbsp;Cartoon Network,&nbsp;with global lifestyle powerhouse such as&nbsp;Food Network, HGTV&nbsp;and TLC

Family members are eligible to claim insurance from the Provident Fund if an employed member passes away due to Covid 19. Here is what you need to know -: Who i

Family members are eligible to claim insurance from the Provident Fund if an employed member passes away due to Covid-19. Here is what you need to know -:
<ul>
<li>Who is eligible? - If deceased was in employment for a continuous period of 12 months preceding the month of death irrespective of change of establishment</li>
<li>The membership of EDLI&nbsp;scheme is automatically provided to those covered in EPF.&nbsp;</li>
<li>How much is the claim amount -&nbsp;It is linked to the average of the provident fund account balance of an employee, minimum of ₹2.5 lakh&nbsp;to maximum of ₹7 lakh&nbsp;</li>
<li>Who can apply - Nominees (members of the family) designated under the EPF Scheme</li>
<li>&nbsp;</li>
</ul>
How to apply for the claim?
<ul>
<li>Nominees, family members, and legal heirs can fill out PF Form 5 IF to seek insurance benefits after the death of an active EPFO member.</li>
<li>
There is no online option for form filling.&nbsp;Only the offline method can be used to fill out the form. Download the form from here&nbsp;<a href="https://www.epfindia.gov.in/site_docs/PDFs/Downloads_PDFs/Form5IF.pdf Read more at: https://www.goodreturns.in/personal-finance/planning/epf-covid-claim-nominee-can-claim-epf-insurance-upto-rs-7-lakh-form-v-if/articlecontent-pf19023-1209286.html" target="_blank">Download EPF Form 15</a>
</li>
<li>
To ensure that all benefits under the Schemes are processed, the form should be submitted with Form 20 (for claiming Provident Fund dues) and Form 10 D/10C (for Pension/Withdrawal Benefit as applicable).
</li>
<li>
The last employer must attest the&nbsp;application.
</li>
<li>Documents required: Death certificate, Guardian certificate if nominee is not natural guardian or in case of a minor, Copy of a canceled/blank cheque of the bank account in which payment is opted.
&nbsp;
</li>
</ul>

Veteran business journalist Sunil Jain died on Saturday evening due to Covid-related complications. He had been hospitalised at AIIMS for the past few weeks w

Veteran business journalist Sunil&nbsp;Jain died on Saturday evening due to Covid-related complications. He had been hospitalised at AIIMS&nbsp;for the past few weeks where he suffered two cardiac arrests on Saturday. He was 58 years old.&nbsp;
A Delhi School of Economics alumnus, Jain was managing editor of the Financial Express and had worked with Business Standard, Indian Express and India Today earlier.&nbsp;
Prime Minister Narendra&nbsp;Modi&nbsp;tweeted condolences, he said, he would miss reading his columns and hearing his frank as well as insightful views on diverse matters.

The Maharaja has got caught in the line of fire between the Govt and Cairn Energy in the $1.2 billion tax award tussle. Reuters reports that energy giant Cairn has

The Maharaja&nbsp;has got caught in the line of fire between the Govt and Cairn Energy in the $1.2 billion tax award tussle. Reuters reports that energy giant Cairn has sued Air India in a US District Court in New York&nbsp;to enforce a $1.2 billion&nbsp;arbitration&nbsp;award that it won in a tax dispute against India. Cairn since the start of 2021 had begun taking steps to identify Indian assets overseas against which it could enforce the award including bank accounts, aircraft and even ships. Reports indicated that the govt had alerted PSU&nbsp;banks to reduce cash holdings in overseas accounts
In February, Cairn filed a separate case in a US court to recognise and confirm the&nbsp;arbitration&nbsp;award, including payments due since 2014, it approached courts in 6 other countries as well for the same.&nbsp;

Creator of cryptocurrency Ethereum, Vitalik Buterin has donated more than 50 trillion Shiba Inu coins ($1 billion) into Covid Relief Fund for India but the q

Creator of &nbsp;cryptocurrency Ethereum,&nbsp;Vitalik Buterin has donated more than 50 trillion Shiba Inu coins ($1 billion) into Covid Relief Fund for India but the question is how will it be utilised in a country that still has no laws and many critics of the digital tokens?
Sandeep Nailwal, who founded the&nbsp;Covid Crypto Relief Fund said that he &nbsp;has already identified an entity to convert the donations into rupees, and an aid-receiver compliant with India&rsquo;s Foreign Contribution Regulation Act. The conversion however wil have to be gradual to protect pricing on cryptocurrency and also be compliant with norms set by the RBI.
The central bank for one has made it&rsquo;s displeasure with cryptocurrencies quiet clear,&nbsp;The Reserve Bank of India (RBI) in 2018 had forbidden banks from dealing in all transactions related to bitcoin and other such assets. That diktat over was overturned by the apex court as the Supreme Court in March 2020 &nbsp;ruled that lenders could infact lend to cryptoexchanges. Recent reports indicate that RBI has again directed lenders to&nbsp;re-consider ties with crypto exchanges, traders.&nbsp;
The finance ministry may be forced to put the issue back into the spotlight of decision making with $1 billion looking to redeem itself from the Crypto Relief Fund. The finance minister herself had softened her stand from 2018 as she was quoted as saying&nbsp;&ldquo;&nbsp;"From our side, we are very clear that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins or cryptocurrency.&rdquo;
With are over 10 million crypto investors in India with total holdings of over $1.36 billion, according to industry estimates it doesnt seem like this industry can remain &lsquo;unregulated&rsquo; for very much longer.&nbsp;

Move over Remdesivir the drug spotlight has moved to black fungus treatment drug Amphotericin B as raging demand has created severe shortages across mark

Move over Remdesivir&nbsp;the drug spotlight has moved to black fungus treatment drug&nbsp;Amphotericin B&nbsp;as raging demand has created severe shortages across markets.&nbsp; With over 2000 cases of&nbsp;mucormycosis&nbsp;in Maharashtra&nbsp;demand for the drugs is soaring to treat the fungal infection.&nbsp;The number of doses per day ranging from 4-6 depending on the weight of the patient and for some the treatment could last for 21 days. Amphotericin B which costs close Rs 7000/dose is largely manufactured by Mylan&nbsp;Labs with a few domestic firms&nbsp;Abbot India, Bharat Serum.&nbsp;
Genetek Lifesciences of Wardha, which also started to produce Remdesivir&nbsp;has received FDA approval to make Amphotericin B injection during the COVID-19 period, a statement issued by Union Minister Nitin&nbsp;Gadkari's&nbsp;office said. Its production will begin in the next 15 days at its Wardha plant.&nbsp; Genetek&nbsp;hopes to bring the price down for&nbsp;Amphotericin B injection by 75% to Rs 1500/dose.&nbsp;

Just as it filed it’s papers for an IPO Wadia Group owned Go Air rebranded itself after 15 years of operations as "Go First”.Go Airlines is looking to

Just as it filed it&rsquo;s papers for an IPO Wadia Group owned Go&nbsp;Air rebranded itself after 15 years of operations as "Go First&rdquo;. Go Airlines is looking to raise Rs 3600 cr &nbsp;and has filed a draft red herring prospectus (DRHP) for an initial public offer (IPO) &nbsp;through issuance of fresh equity shares.&nbsp;The Wadia group owns 73.33% in the carrier which had faced a loss of&nbsp;Rs 1,270 cr for the year ending March 30, 2021.&nbsp; Pandemic blues are continuing for this budget airline that has been total passengers carried in March fall by a whopping 47% vs February, this was steep in comparison to Indigo&rsquo;s 29% drop.&nbsp; Rebranding may not take Go Air's legacy issues and concerns away. with three CEO changes in just three years investors may need more safety instructions from the top brass before taking off with this IPO.

While Russia's Sputnik V vaccine is already available in India, Dr Reddys Laboratories CEO Deepak Sapra has said that his company is now trying to s

Dr Reddy's&nbsp;Laboratories CEO&nbsp;Deepak&nbsp;Sapra&nbsp;has said that his company is trying to seek regulatory approval for the single-dose Sputnik V Light vaccine in India. &nbsp;Sapra&nbsp;who confirmed that the Clinical trials of the single-dose vaccine are being conducted in Russia&nbsp;added&nbsp;that Sputnik Light's single shot will be able to give 80% efficacy. He further said that Sputnik Light will be a shot in the arm for the country's vaccination program.&nbsp;NITI Aayog's&nbsp;Dr VK Paul said at a press conference earlier this month that they are investigating&nbsp;Russian Direct Investment Fund's (RDIF) claim that the first dose of Sputnik Light is enough.

The legal roadblock for the popular Pfizer vaccine may soon be removed. Reports indicate that the govt and vaccine manufacturer Pfizer are close to resolving tussl

The legal roadblock for the popular Pfizer vaccine may soon be removed. Reports indicate that the govt and vaccine manufacturer&nbsp;Pfizer are close to resolving tussle on the indemnity clause.&nbsp;
ET reports citing sources that the govt is agreeable to grant conditional indemnity to Pfizer.The pharma&nbsp;major has had insisted on&nbsp;the clause which absolves the company from paying any legal cost in case of an adverse event. Pfizer has signed an indemnity clause with most countries that are using its vaccine.&nbsp; The decision likely in a few days would lead to Pfizer first importing jabs to India and then also exploring the possibility of setting up manufacturing facilities in the country.

Businesses are joining in to add to the iconic show Friends' reunion frenzy. Booking.com is offering a night's stay at Monica and Rachel's New York apartment for just u

Businesses are joining in to add to the iconic show Friends' reunion frenzy. Booking.com is offering a night's stay at Monica and Rachel's New York apartment for just under $20/night.&nbsp; Listed as the "The Ultimate Sleepover at The FRIENDS Experience", Booking.com is offering guests&nbsp;to sleep over in the set re-creation of Monica and Rachel&rsquo;s apartment, featuring a private 1-bedroom accommodations, a FRIENDS&trade;-themed scavenger hunt with coffee and breakfast at Central Perk - just like the gang would.&nbsp;
Booking.com is taking reservations on May 21, the apartment is available for just two nights, May 23 and May 24 in New York city. On Friday, HBO Max dropped the first teaser of the Friends reunion special&nbsp;the highly-anticipated special of the iconic series is set to premiere on May 27

Tech titans helped US markets rebound in Friday's trade , tech index Nasdaq Composite, the drag for the week, snapped back by 2.3%. 30 stock Dow Jones climbed 1.1%

Tech titans helped US markets rebound in Friday's trade , tech index&nbsp;Nasdaq Composite, the drag for the week, snapped back by 2.3%. 30 stock Dow Jones climbed 1.1%, to 34,382 and the broader gauge of&nbsp;S&amp;P 500 gained 1.5%. It was been a roller-coaster ride for the US markets this week as it sunk over 5% in the first three days of the week to recover moderately on Thursday and Friday.&nbsp;The Dow and the S&amp;P 500 fell more than 1% each this week, while tech stocks got hit especially hard, pulling the Nasdaq down over 2.3% for the week. This is the worst weekly drop for US markets in nearly 3 months .&nbsp;

Business

Watch out Netflix and Disney! There is a new media moghul in town

Funding spree for startups, investments rush in for Pine Labs, Lenskart and Moglix

Microsoft probed Bill Gates’ romantic relationship with employee in 2019

Markets see biggest rally in two months as Covid numbers drop

Record high inflation adds to the pandemic pain for the economy

Musk’s catch-22: Bitcoin backer or dogefather?

What all could Cairn seize to recover $1.2 billion from the Indian government?

Ambani to Tata gear to import vaccines as shortage continues

Cyclone Tauktae sweeps Mumbai, orange alert in Maximum City

Tune in for a mega media merger between AT&T and Discovery

Family to get up to ₹7 lakh if employee dies of Covid-19 through PF scheme, all you need to know

Sunil Jain, veteran business journalist dies of Covid, PM sends condolences

Cairn gets ready to seize Air India's planes, sues the aircraft to claim $1.2 bn award

$1 billion in Cryptocurrency donations, raises the question again...can it be used in India?

Pharma's most wanted list: Black fungus treatment drug Amphotericin B

Go Air becomes “Go First”, files IPO papers

Working with regulators to bring Sputnik Light to India: Dr. Reddy's

Pfizer finally, legal block for India may be resolved

Booking.com offers Monica and Rachel's 'Friends' apartment

All's well that ends well, Big Tech helps US markets rebounds

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