News in Numbers: 2017 on course to be among three hottest years on record
In other news, Broadcom offers $105 billion to acquire Qualcomm
What is it? The value of the offer in cash and stock by Broadcom to acquire smartphone chipmaker Qualcomm.
Why is it important? If it goes through, it would be the largest-ever takeover in the technology sector, and Broadcom would become the third-largest chipmaker after Intel and Samsung. However, Qualcomm, which is in the midst of a $38.5 billion takeover of NXP Semiconductor, is likely to reject the bid on the argument that it undervalues the company. Further, this deal would face tough anti-trust scrutiny.
Tell me more: Including debt, the total transaction value would be $130 billion. Qualcomm is currently fighting a legal battle with Apple and facing an anti-trust investigation in Europe.
What is it? The amount which the average surface temperature was above the pre-industrial era from January to September 2017, according to the United Nations’ World Meteorological Organization.
Why is it important? This has set 2017 to be on course to be among the three hottest years on record, which means many high-impact events such as floods, catastrophic hurricanes, heatwaves and droughts will be recorded. The warning signs for governments to act couldn’t be more compelling as long-term indicators of climate change worsen, including a rise in sea levels, and increasing carbon dioxide concentrations and ocean acidification.
What is it? The number of Indians whose names figure in Paradise Papers, a global investigation that reveals financial dealings in tax havens of some of the world’s most powerful people and companies.
Why is it important? The income tax department and the capital market regulator said on Monday they would investigate if any of these people were involved in illegal transactions. The Central Board of Direct Taxes has asked its investigation arm to re-check tax returns filed by individuals and companies named in Paradise Papers. And the Securities and Exchange Board of India (Sebi) will seek information from stock exchanges on listed companies’ offshore entities, which will be matched with statutory disclosures.
Tell me more: Of the 180 countries featured in Paradise Papers, India ranks 19th in terms of the number of names.
What is it? The number of hours a day the Telangana government is aiming to provide power supply to the farm sector for “five to six days” this week, beginning Monday.
Why is it important? This dry run of sorts is a precursor to its goal of 24x7 power being available to all 31 districts from March-April 2018. Usually, state governments have focused on subsidising power to the farm sector, whereas Telangana, on the face of it, is strengthening delivery.
Tell me more: In the April to September 2017 period, Telangana registered a 25% increase in power generated on a year-on-year basis, which was next only to the much-smaller states of Sikkim and Meghalaya.
What is it? The interest payment on a dollar-denominated debt instrument that Reliance Communications missed on Monday.
Why is it important? This is the first debt-related default in a foreign currency by the Anil Ambani-owned company.
Tell me more: Elsewhere, it was a red-letter day for a part of Ambani’s financial services business: the company that manages his group’s mutual fund business listed on Monday and closed at a 13% premium to its issue price.
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