Wednesday, October 21
Social media app TikTok, which is owned by China's ByteDance, will be banned in the United States on Sunday unless a deal comes together to sell it to a U.S. investor or the U.S. Supreme Court intervenes. The ban results from an April law signed by President Joe Biden and is the first time the United States has attempted to shut down access to an app with such a large user base - roughly 170 million domestic users. To pull it off, the law targets a wide swath of U.S.-based partners that help bring TikTok to users, rendering most easy workarounds such as using a virtual private network or changing a phone's country settings moot or difficult to use, experts told Reuters.At best, users might be able to access a web-based version of the service that has fewer features than the app, and even t
Mumbai: Kalyan Jewellers, a Dalal Street favourite in recent times, extended its losing run on Wednesday, despite the company refuting talk that money managers had been bribed to buy its shares.Executive director Ramesh Kalyanaraman dismissed this as "very absurd" in the call on Tuesday. The stock dropped 7% on Wednesday to close at ₹554.90, extending its losing streak to the ninth straight day. The 32% drop in the share price in this period has eroded the market cap of Kalyan Jewellers by ₹24,000 crore to ₹57,234 crore at the Wednesday close. 117280615The Kerala-based Kalyan Jewellers did not respond to queries.During the analyst call on Tuesday, Kalyanaraman also dismissed speculation about the company's plans to buy an aircraft, income tax raids and inventory overvaluation. 1172
Telecom market leader Reliance Jio is set to ring in the earnings season today (Thursday), with its Q3FY25 results. Analysts, though, expect the second-largest telecom company — Bharti Airtel — to outshine the other two private telcos — Jio and Vodafone Idea (Vi) — by posting stronger sequential revenue growth. The residual passthrough of tariff hikes taken in July 2024 and higher mobile broadband user additions are expected to aid Airtel’s Q3. To be sure, the impact of last year’s price hikes is likely to boost APPU of all three private carriers, with Airtel set to be the top gainer. 117280580Airtel and Jio are also expected to report subscriber gains in the December quarter with a likely easing of the impact of recent SIM consolidation. Vi, though, will yet again report hea
