Days after Tesla CEO Elon Musk was declared the richest man in the world, the billionaire entrepreneur has slid&nbsp;down to the second position, making Amazon CEO Jeff

Tesla shares fall, Elon Musk is no more the richest man on Earth

Days after Tesla CEO Elon Musk was declared the richest man in the world, the billionaire entrepreneur has slid&nbsp;down to the second position, making Amazon CEO Jeff Bezos the winner.
Musk's rank&nbsp;fell down due to a sudden fall in price of Tesla shares which wiped out $13.5 billion from his fortune on Monday. Tesla&rsquo;s shares fell by 8%, their largest one-day fall since last September, pushing its CEO's total wealth down to $176.2 billion compared to Bezos'&nbsp;$182.1 billion fortune.
However, the Tesla owner continues to top the Bloomberg&rsquo;s Billionaires Index with $194 billion, above Bezos.
&nbsp;

Days after Tesla CEO Elon Musk was declared the richest man in the world, the billionaire entrepreneur has slid down to the second position, making Amazon CEO Jeff Bezos the winner. Musk's rank fell down due to a sudden fall in price of Tesla shares which wiped out $13.5 billion from his fortune on Monday. Tesla’s shares fell by 8%, their largest one-day fall since last September, pushing its CEO's total wealth down to $176.2 billion compared to Bezos' $182.1 billion fortune. However, the Tesla owner continues to top the Bloomberg’s Billionaires Index with $194 billion, above Bezos.

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WhatsApp announced delaying by three months the implementation of a new privacy policy that has faced massive backlash with tens of millions of its users moving

WhatsApp announced delaying by three months the implementation of a new privacy policy that has faced massive backlash with tens of millions of its users moving from the platform to rivals like Signal and Telegram. The policy change was originally scheduled to come into effect on February 8, the Facebook-owned company said. It has clarified that the update does not affect data sharing with Facebook with regard to personal conversations or other profile information and only addresses business chats in the event a user converses with a company's customer service platform through WhatsApp. WhatsApp now says it is now going to use the three-month delay to better communicate both the changes in its new policy and its long-standing privacy practices.

Snapdeal, one of India's largest e-commerce platforms, along with four Indian shopping complexes, two of them in New Delhi alone, have figured in the latest 2020 Review

Snapdeal, one of India's largest e-commerce platforms, along with four Indian shopping complexes, two of them in New Delhi alone, have figured in the latest US list of Notorious Markets for Counterfeiting and Piracy. The four Indian markets that have found mention in the list are Heera Panna in Mumbai, Kidderpore in Kolkata and Palika Bazaar and Tank Road in Delhi. The 2020 Review of Notorious Markets identifies 39 online markets and 34 physical markets that are reported to be engaged in or have facilitated substantial trademark counterfeiting and copyright piracy.&nbsp;

The United States on Thursday announced new rules to block purchases of technology and communication equipment from five "foreign adversaries" including China. Departme

The United States on Thursday announced new rules to block purchases of technology and communication equipment from five "foreign adversaries" including China. Department of Commerce announced a new rule aimed to ensure the security of the supply chain for Information and Communications Technology and Services (ICTS). Apart from China the department also named Russia, Iran, North Korea, Cuba and Venezuela as adversaries. The Commerce Secretary said that by securing the ICTS supply chain, American citizens and businesses will be protected against the &lsquo;vulnerabilities that could undermine the confidentiality, integrity, and availability of their personal information or sensitive data by malicious foreign adversaries&rsquo;

New York City declared on Wednesday that it will cut business ties with the Trump Organization, and at least two companies made similar moves, citing the storming of th

New York City declared on Wednesday that it will cut business ties with the Trump Organization, and at least two companies made similar moves, citing the storming of the US Capitol last week by a crowd that President Donald Trump had egged on.&nbsp;&ldquo;The president incited a rebellion against the United States government that killed five people and threatened to derail the constitutional transfer of power,"&nbsp;Mayor Bill de Blasio said in a statement. He added, &ldquo;The city of New York will not be associated with those unforgivable acts in any shape, way or form."

Competitive pricing between OTT players in India is now heating up. Airtel in partnership with Amazon has now launched an exclusive Prime Video Mobile Edition plan with

Competitive pricing between OTT players in India is now heating up. Airtel in partnership with Amazon has now launched an exclusive Prime Video Mobile Edition plan with prices starting from ₹89. It is a single-user mobile-only plan, that allows Airtel users to stream Amazon Prime videos in SD quality. As part of the launch in India, all Airtel customers on bundled prepaid plans can avail a 30-day free trial by just signing up to Amazon from the Airtel Thanks app. There's a catch however. An user who signs up for this mobile-only plan will not get other Amazon Prime benefits. They will only be able to watch movies, shows and other videos. Prime benefits provided by Amazon Prime Video, like multi-user access, streaming across devices including Smart TV and the ability to enjoy content in HD/UHD, ad-free, won&rsquo;t be available with this plan.

Messaging service Telegram said it has added 25 million new users over the past 72 hours, days after it surpassed the 500 million monthly active user mark. The surge in

Messaging service Telegram said it has added 25 million new users over the past 72 hours, days after it surpassed the 500 million monthly active user mark. The surge in new users took place after Facebook-owned messaging service WhatsApp rolled out a new policy outlining terms through which it could transfer data to its parent company. The new users are from across the globe &ndash; 38 percent from Asia, 27 percent from Europe, 21 percent from Latin America and 8 percent from&nbsp;&nbsp;Middle East and North Africa, the company said in a statement.

India&rsquo;s biggest online-education startup Byju&rsquo;s has signed a deal to acquire brick &amp; mortar test prep leader Aakash Educational Services Ltd. for $1 bil

India&rsquo;s biggest online-education startup Byju&rsquo;s has signed a deal to acquire brick &amp; mortar test prep leader Aakash Educational Services Ltd. for $1 billion. According to the reports, the deal for what will be one of the largest edtech acquisitions in the world should close in the next two or three months.&nbsp;Bangalore-headquartered Byju&rsquo;s is valued at $12 billion and has been on a fund-raising spree as the pandemic has sent demand for its online lessons soaring.&nbsp;

US electric car giant Tesla has finally made its entry in India and registered as a company in Karnataka's Bengaluru. Chief Minister BS Yediyurappa confirmed the news o

US electric car giant Tesla has finally made its entry in India and registered as a company in Karnataka's Bengaluru. Chief Minister BS Yediyurappa confirmed the news on twitter and welcomed CEO Elon Musk to the country and his state. The carmaker has set up an R&amp;D unit in Bengaluru, the chief minister said. "Karnataka will lead India's journey towards Green Mobility. Electric Vehicle Manufacturer Tesla will soon start its operations in India with an R&amp;D unit in Bengaluru. I welcome Elon Musk to India and Karnataka and wish him all the very best," Yediyurappa tweeted. The company is also in touch with as many as five state governments, including Maharashtra, Gujarat, Tamil Nadu and Andhra Pradesh, to set up operations in the country.

India's retail inflation, which is measured by the&nbsp;Consumer Price Index (CPI), eased to&nbsp;4.59% in the month of&nbsp;December&nbsp;mainly due to decline in food

India's retail inflation, which is measured by the&nbsp;Consumer Price Index (CPI), eased to&nbsp;4.59% in the month of&nbsp;December&nbsp;mainly due to decline in food prices. Separately, India&rsquo;s factory output, measured in terms of&nbsp;Index of Industrial Production (IIP), witnessed a contraction of&nbsp;-1.9% in&nbsp;November, data released by the Ministry of Statistics &amp; Programme Implementation (MoSPI) showed on Tuesday.&nbsp;The retail inflation for the month of November was&nbsp;6.93%.&nbsp;The December CPI data has come within the Reserve Bank of India&rsquo;s (RBI) upper margin of 6%.

Income tax returns filed this year increased by about 5 per cent to nearly 6 crore as more businesses and entities filed annual income statements. Over 5.95 crore incom

Income tax returns filed this year increased by about 5 per cent to nearly 6 crore as more businesses and entities filed annual income statements. Over 5.95 crore income tax returns (ITRs) for the fiscal year ended March 31, 2020 (2019-20) were filed by January 10, the Income Tax Department said. The tax department in a tweet said 5.95 crore ITRs for Assessment Year 2020-21 were filed till January 10, 2021, as compared to 5.67 crore ITRs filed for the previous assessment year. The total returns for 2019-20 are 33.35 lakh higher than the previous year.
&nbsp;

A UK court has refused to release funds held by it as part of bankruptcy proceedings against disgraced liquor tycoon Vijay Mallya. The former Kingfisher Airlines chief 

A UK court has refused to release funds held by it as part of bankruptcy proceedings against disgraced liquor tycoon Vijay Mallya. The former Kingfisher Airlines chief had sought approval to use 2.8 million pounds of the estimated 2.9 million pounds held by the court under the UK's Insolvency Act 1986. Mallya&rsquo;s counsel argued that he needed urgent access to funds to avert a &ldquo;high risk&rdquo; of him losing his legal representation. The counsel for the Indian banks contested the plea on the grounds of the risk of dissipation of assets held towards the debt owed to the banks.

Reserve Bank of India governor Shaktikanta Das on Monday released the Financial Stability Report 2021 which highlighted the state of the banking sector in the country. 

Reserve Bank of India governor Shaktikanta Das on Monday released the Financial Stability Report 2021 which highlighted the state of the banking sector in the country. In his foreword to the bi-annual reports, Das said that Covid-19 pandemic threatens to result in balance sheet impairments and capital shortfalls at banks. The RBI governor said the Covid-19 pandemic can result in balance sheet impairments, capital shortfalls, as regulatory reliefs are rolled back.

In a first since independence, the Finance Ministry will not print Budget 2021 and will go paperless due to the Covid 19 pandemic. The budget 2021 will go paperless in 

In a first since independence, the Finance Ministry will not print Budget 2021 and will go paperless due to the Covid 19 pandemic. The budget 2021 will go paperless in a significant break from tradition. The printing process requires several people to stay at the press. More than 100 people usually stay at the basement of north block till the budget is presented. Given the Covid situation this cannot happen this year. Thus there will be no halwa ceremony this year, nor will there be loading of trucks with Budget papers. Also there will be no need for a bahi khata, brown briefcase as we know it to carry the budget papers.&nbsp;

According to a poll conducted by Reuters, China's exports grew solidly in December but at a slower pace compared to the previous month due to demand from its trading pa

China&rsquo;s exports likely grew solidly in December but at a slower pace than in the previous month, as demand from its coronavirus-hit trading partners cooled, while imports held steady, a Reuters poll showed on Monday. Exports likely rose 15&nbsp;per cent from a year earlier, cooling from a 21.1 per cent jump in November. Furthermore, imports likely rose 5&nbsp;per cent in December versus a year ago, the poll showed. Imports were marginally higher than 4.5 per cent in the previous month.

As the coronavirus pandemic devastated small businesses and plunged millions of Indians into poverty, few Indian&nbsp;startups&nbsp;like cosmetic e-retailer Nykaa&nbsp;

As the coronavirus pandemic paralysed the economy plunging small businesses into crisis and millions of Indians into unemployment, some Indian&nbsp;startups thrived&nbsp;the year&nbsp;because of dramatic shifts in consumer behavior.
Here&rsquo;s a look at the new entrants to the $1-billion-club.

Sensex opened at a record high on Monday crossing the 49,000 mark on hopes of a robust recovery in Q3 earnings.&nbsp;The IT index jumped nearly 2 percent on positive se

Sensex opened at a record high on Monday crossing the 49,000 mark on hopes of a robust recovery in Q3 earnings.&nbsp;The IT index jumped nearly 2 percent on positive sentiment after TCS' Q3 earnings beat analysts' expectations. Technology stocks were the lead Sensex gainers, with Infosys, HCL Tech, and&nbsp;TCS&nbsp;rising 3%, 2%, and 1%, respectively. Tata Consultancy Services' profit jumped 7 per cent YoY in the December quarter to Rs 8,701 crore, according to the results announced post market hours on Friday.&nbsp;

Pitching to place a regulator for the sectors,&nbsp;Union Road Transport Minister Nitin Gadkari&nbsp;said big players in the steel and cement industry are indulging in 

Pitching to place a regulator for the sectors,&nbsp;Union Road Transport Minister Nitin Gadkari&nbsp;said big players in the steel and cement industry are indulging in cartelisation to jack-up prices.&nbsp;Gadkari&nbsp;while pointing out the target of investing Rs 111 lakh crore on infrastructure projects in the next five years to aid the economy, said it will be difficult to achieve Prime Minister Narendra Modi&rsquo;s dream of making India a USD 5 trillion economy if the steel and cement prices keep going up.&nbsp;

Korean carmaker&nbsp;Hyundai Motor said on Friday that early talks are going on with Apple after local media reported that the two giants were discussing a tie-up to de

Korean carmaker&nbsp;Hyundai said on Friday that early talks are going on with Apple after local media reported that the two giants were discussing a tie-up to develop electric cars and batteries. The news has sent the company's&nbsp;shares surging some 20%.&nbsp;In December, Reuters reported that Apple is moving forward with self-driving car technology and is targeting as early as 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.&nbsp;

India and Japan on Friday signed an agreement for a loan of up to 50 billion yen&nbsp;to back New Delhi&rsquo;s economic support programmes for the poor and vulnerable 

India and Japan on Friday signed an agreement for a loan of up to 50 billion yen&nbsp;to back New Delhi&rsquo;s economic support programmes for the poor and vulnerable affected by the Covid-19 crisis. According to the reports, the Japanese embassy said that the loan was aimed to help the Government of India provide support to vulnerable groups, including the poor and women, who had been severely affected by the economic slowdown caused by the pandemic.

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Tesla shares fall, Elon Musk is no more the richest man on Earth

Jan 12, 2021 20:19 IST

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