Mint Morning Digest: Apple calls employees back to office, Nitish Kumar cabinet expansion and much more
4 min read 16 Aug 2022, 07:56 AM ISTAhead of market opening, read top business news, equity market precursors, and economic and banking news updates from India and across the world for 16 August, 2022.
PremiumBihar: Nitish Kumar cabinet expansion today; nearly 30 ministers to be inducted
The two-member cabinet in Bihar comprising Chief Minister Nitish Kumar and his deputy Tejashwi Prasad Yadav will be expanded today. Nitish Kumar's Janata Dal (United) allied with the Rashtriya Janata Dal (RJD) of Tejaswi Yadav to form the government in Bihar recently. Read more here
Apple calls employees back to office after Covid-19 delays, Sept 5 deadline
Apple Inc has called its employees to start working from office at least three days a week and has also set a September 5 deadline for the same, marking its latest return attempt after Covid-19 spikes postponed its plans several times, according to news agency Bloomberg. Read more here
‘Catastrophic’! FIFA suspends India’s football federation with immediate effect
The All India Football Federation (AIFF) has been suspended by FIFA with immediate effect due to "undue influence" from outside parties. The suspension will be lifted once the decision to create a committee of administrators to exercise the authority of the AIFF Executive Committee has been reversed and the AIFF administration has full control over the organisation's day-to-day operations, according to the international governing body of football. Read more here
Spending in international business travel won't improve until 2026 - here's why
Issues like prolonged inflation, high energy prices, labour shortages and lockdowns in China would likely lead a rebound in global business travel spending to pre-pandemic levels to be postponed by 18 months to 2026, according to a new industry projection. Read more here
Warren Buffett's Berkshire Hathaway buys more Apple, Amazon while betting on oil
Warren Buffett's company bet more on high-tech darling Apple and e-commerce giant Amazon during the second quarter, while also investing billions in old-school oil producers Occidental Petroleum and Chevron. Read more here
Planning to visit London? You may have to wait until October
In an effort to meet the increasing demand for air travel while facing a personnel deficit, London's Heathrow Airport announced on August 15 that it will extend its daily passenger cap until the end of October. The airport, one of the busiest in Europe, stated that up to 100,000 passengers may depart each day until October 29. Initially, it was anticipated that the daily maximum would be raised on September 11. Read more here
Over 79 lakh children enrolled under Bal Aadhaar initiative in 4 months
The Unique Identification Authority (UIDAI) has enrolled more than 79 lakh children in the 0-5 years of age group during the first four months of FY 2022-23, according to an official statement issued by the Ministry of Electronics and IT. Read more here
Ola Electric aims to roll out premium, sporty car by 2024
Ola Electric, the company founded by entrepreneur Bhavish Aggarwal, said it will debut an electric car in India by the “summer of 2024", a move that will put the startup head-to-head with legacy automakers such as Tata Motors Ltd, Mahindra and Mahindra Ltd and Hyundai Motor Co. Read more here
IRCTC shares to turn ex-dividend on Aug 18, to pay 75% dividend
Indian Railways catering services provider, IRCTC will turn ex-dividend on August 18 ahead of its record date for determining eligible shareholders for the final dividend of fiscal FY22. IRCTC shares will be in focus in this week's trading session which will commence from tomorrow onward. Read more here
ITR filing: You can still face fine of ₹5,000 even if income tax return filed on time
Nearly 15 days have passed since the last due date to file income tax returns (ITR) for the financial year 2021-22, and assessment year 2022-23. About 5.83 crore ITRs have been filed till July 31 which was the deadline for the mentioned assessment year. However, there are chances that even if you have filed your ITR on time, you might still face a fine of ₹5,000. Read more here
Watch: Indian Army finds mortal remains of soldier 38 years later
The Northern command of the Indian Army on Monday said that they had recovered the mortal remains of LNk (Late) Chander Shekhar who was missing since 29 May 1984. The Indian Army shared a video of soldiers in all white walking through the snow clad mountain holding onto a rope. Read more here
India may become a $5 trillion economy by FY29 if GDP grows at 9% for 5 years
India may become a USD five trillion economy by 2028-29 only if the GDP grows at nine per cent per annum consistently for the next five years, former RBI Governor D Subbarao said on Monday. Speaking at Federation of Telangana Chamber of Commerce and Industry on India @75- Marching Towards USD 5 Trillion Economy on the occasion of 75 years of Indian Independence, he said there are eight key challenges for India to overcome to achieve the dream of 5 trillion economy. Read more here
‘Monkeypox shows signs of slowing’: What UK health agency said
Bringing a huge relief British health officials on Monday said that monkeypox outbreak across the country “shows signs of slowing". However, it is still too early to know if the decline can be sustained. Read more here
Omicron-specific Covid vaccine for India in 6 months, expects Adar Poonawalla
Serum Institute of India's (SII) Chief Executive Officer Adar Poonawalla said on Monday that he expects an Omicron-specific vaccine against the coronavirus for India in six months. Read more here
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