Wednesday, October 21
President Joe Biden won't enforce a ban on the social media app TikTok that is set to take effect a day before he leaves office on Monday, a US official said Thursday, leaving its fate in the hands of President-elect Donald Trump. Congress last year, in a law signed by Biden, required that TikTok's China-based parent company ByteDance divest the company by January 19, a day before the presidential inauguration. The official said the outgoing administration was leaving the implementation of the law - and the potential enforcement of the ban - to Trump. The official spoke on condition of anonymity in order to discuss internal Biden administration thinking. Trump, who once called to ban the app, has since pledged to keep it available in the US, though his transition team has not said how they
Equity indices rallied for the third session on the trot on Thursday, helped by a rally in global markets after lower-than-expected US inflation ignited hopes of more rate cuts by the Fed.Stocks that were in focus include names like SBI Life, which rose 3% and DMart, which gained 1% and LTIMindtree, whose shares jumped 2.5% on Thursday.Here's what Viral Chheda, Sr Analyst at SSJ Finance and Securities, recommends investors should do with these stocks when the market resumes trading today.SBI LifeAfter making the Double Top around 1936 in September 2024, price has witnessed a bear run to make the low of 1377 odd levels. Price has given almost 30% downside move from its higher level of 1936 odd levels. Price has formed a Lower Top Lower Bottom Pattern.At the lower levels after moving in the
The third quarter earnings season is underway and around 36 companies will announce their results on Friday. Key earnings to watch out include from Wipro, Jio Financial, Tech Mahindra and SBI Life.Apart from the above, companies like Indian Hotels, ICICI Lombard, Ramkrishna Forgings, Supreme Petrochem, Aether Industries, Ganesh Housing, Rallis India, Sterlite Technologies and a few others will also declare their quarter results.Wipro Q3 expectationsWipro is likely to have a subdued third quarter with constant currency revenue expected to be declining and may well be the weakest among the peers.Estimates for the revenue growth for the October-December 2024 period seem to be varied, but an average of 7 brokerages indicates that the same will grow at 0.6% year-on-year (YoY). Some not so optim
Hackers backed by the Chinese government accessed US Treasury Secretary Janet Yellen's computer and files, Bloomberg News has reported . The breach, discovered in December, also impacted the computers of Deputy Secretary Wally Adeyemo and Acting Under Secretary Brad Smith.The hackers accessed fewer than 50 files on Yellen's computer, focusing on the Treasury's work on sanctions, intelligence, and international affairs. While the hackers accessed unclassified files on more than 400 computers and 3,000 files on personal devices, they did not penetrate classified systems or email. They also accessed information related to the Committee on Foreign Investment in the US, which reviews the security implications of foreign investments.The breach happened through a vulnerability in software from Be
