Microsoft Corp. surpassed Apple Inc. to become the world's most valuable publicly traded company. All it took was a $300 billion rout.
After briefly claiming the top spot, Microsoft shares rose 0.6 percent, pushing the company's market value to $828.1 billion that exceeded by more than $1 billion the value of Apple.
According to data compiled by Bloomberg, the last time Microsoft's market capitalisation was bigger than Apple was in 2010.
Hyde-Smith Wins Mississippi Senate Run-off
The last of the U.S. Senate midterm races was decided in a run-off vote in Mississippi, when Republican candidate Cindy Hyde-Smith, who ran a controversial campaign, beat her Democrat rival.
Ms. Hyde-Smith had won just over 54% of the vote with 95% precincts reporting as of this writing, beating Democrat Mike Espy, the first African-American Congressman from Mississippi since the Reconstruction (1865-1877, when the American South was rebuilt after the Civil War).
Russia to Deploy New S-400 Missiles on Crimea
According to the Russian defence ministry, Russia will deploy new S-400 surface-to-air missile systems on the Crimean peninsula soon.
News of the deployment comes after Ukraine introduced martial law for 30 days in parts of the country following Russia`s seizure of three Ukrainian navy vessels off the coast of Russian-annexed Crimea.
Country's largest lender State Bank of India (SBI) has increased Domestic Term Deposits or Fixed Deposit (FD) rates for some select maturity periods with immediate effect.
The revised FD rates apply for amount less than Rs 1 crore. After the revision in the rates, FDs with maturity period of one to two years will fetch 6.8 percent interest as compared to 6.7 percent previously. Similarly, for senior citizens the FD for maturity period of one to two years has been revised to 7.30 percent, from 7.2 percent earlier.
Unilever Frontrunner for Glaxo's Horlicks Business
Unilever has emerged as the leading bidder in a tight contest for GlaxoSmithKline's Indian Horlicks nutrition business.
If it is able to clinch the deal, Unilever will trump fellow European consumer giant Nestle, the other main contender to buy Horlicks and other GSK consumer healthcare assets in India.
Unilever had been given "preferential treatment" to complete the deal but did not have exclusivity in negotiations, so it was possible GSK might re-open talks with Nestle if it could not agree terms with Unilever.
Merging Two-state Owned Power Lenders
India is considering a proposal to combine two state-run lenders to utilities, REC Ltd. and Power Finance Corporation as it seeks to raise funds to bridge a budget gap.
The first phase of the deal will see REC acquiring a majority stake valued at about $2.5 billion in Power Finance, possibly by the year ending March 2019. Subsequently, the plan is to merge the subsidiary with REC, a departure from the original plan to keep their operations separate.
The merger plan is being considered after REC expressed concern that just acquiring a controlling stake in Power Finance would weaken its credit profile and wouldn't yield any operational benefit.
Indian Navy commander Vijay Varma and captain P. Rajkumar were among those honoured at the 'Asian of the Year' awards, acknowledging their selfless service and bravery in rescue operations during the Kerala floods.
Hockey World Cup 2018
The much-awaited 2018 edition of the Men's Hockey World Cup kick started at the Kalinga Stadium in Bhubaneswar, Odisha.
Third-ranked Belgium defeated eleventh-ranked Canada in the first match.
Fifth-ranked India defeated fifteenth-ranked South Africa.
All the teams have been divided into the following 4 pools:
Pool A: Argentina, New Zealand, Spain and France
Pool B: Australia, England, Ireland and China
Pool C: Belgium, India, Canada and South Africa
Pool D: Netherlands, Germany, Malaysia and Pakistan
Arvind Saxena has been appointed as chairman of the Union Public Service Commission, which conducts examination to select bureaucrats, diplomats and police officers.
Saxena will have a tenure till August 7, 2020, when he attains the age of 65 years.
He has been working as acting head of the Union Public Service Commission (UPSC) since June 20.
Saxena joined the UPSC as a member in May 2015. Prior to joining the UPSC, he was working as director of the Aviation Research Centre (ARC).
India Won't Attend SAARC Meet
According to External Affairs Minister Sushma Swaraj, India will not attend the SAARC summit in Pakistan and unless the neighbouring country stops sponsoring terror activities even as she welcomed Islamabad's decision to build the Kartarpur corridor.
India had pulled out of the 19th South Asian Association for Regional Cooperation summit that was to be held in Islamabad in 2016 after the deadly terrorist attack on an Indian Army camp in Uri in Jammu and Kashmir in September that year.
India among Countries Worst Hit by Climate Change
Ahead of the 24th Conference of the Parties (COP) on climate change begins in Katowice, Poland, a Lancet report has raised concern on the debilitating impact of climate change on human health across the world. India is one of the countries worst hit by heat stress and labour hours lost as a result.
According to the Lancet Countdown 2018 on Health and Climate Change report, globally each person was exposed to an additional 1.4 days of heat wave between 2000 and 2017 compared to the baseline period of 1986 to 2005. In 2017, an additional 157 million heat wave exposure events took place, which is 18 million more heat exposure events than in 2016.
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