In corporate news, Snap CEO Evan Spiegel is excited about India’s augmented reality market. Meta is gearing up to challenge a hefty fine from the CCI over anti-competitive practices. Meanwhile, insurance stocks plunged after the Finance Minister’s call for banks to focus on core banking.
North India’s pollution continues to disrupt life, with Delhi schools and colleges moving online. In Maharashtra, political drama unfolds ahead of elections, while OpenAI faces a copyright lawsuit from ANI.
Sensex, Nifty end sharply off day’s high amidst reports of Ukraine strikes in Russia
The Nifty 50 and Sensex rebounded on Tuesday, but ended sharply off the intraday highs amid media reports about possible Ukraine strikes in Russia in coming days after the United States lifted a ban on the former’s use of its missiles. The Nifty 50 closed in the green but lost nearly 900 points from its intraday highs today. The benchmark rose 65 points to end at 23,519 points. Meanwhile, the Sensex closed 239 points at 77,578.
Meta to contest CCI’s ₹213 crore fine for ‘unfair’ WhatsApp privacy policy change
A day after the Competition Commission of India (CCI) fined Meta ₹213.14 crore for “using its strong position” to change WhatsApp’s 2021 Privacy Policy, the tech giant on November 19 said it is planning to appeal as it disagrees with the decision. “We disagree with the CCI’s decision and plan to appeal.
As a reminder, the 2021 update did not change the privacy of people’s personal messages and was offered as a choice for users at the time. We also ensured no one would have their accounts deleted or lose functionality of the WhatsApp service because of this update,” said a Meta spokesperson in a statement.
Why insurance stocks are falling today
Insurance stocks witnessed a decline on Tuesday (November 19) following Finance Minister Nirmala Sitharaman’s comments advising banks to focus on core banking activities and avoid excessive selling of insurance products.
At the time of writing, SBI Life Insurance shares were down over 3%, making it one of the worst performers in the sector. HDFC Life Insurance and ICICI Prudential Life Insurance both declined nearly 3%.
ANI alleges copyright infringement by ChatGPT in Del HC, Open AI says Indian Courts have no jurisdiction
In the first-of-its-kind case in India, news agency ANI has moved the Delhi HC, claiming copyright infringement by Open AI’s large-language AI model Chat GPT. The Delhi HC has agreed to hear the case while refusing to pass any interim directions against ChatGPT.
ANI moved the Delhi High Court arguing that Open AI is using publicly available data to train ChatGPT, including ANI’s news stories. The news agency argued that news stories published by them are protected under copyright laws, and are being illegally used by Open AI.
America hungry for a transformative future under Donald Trump: Snap CEO
Evan Spiegel, head of the short-form video platform Snap Inc, talked about the clear “hunger” in the US for a fresh and exciting future vision after Donald Trump won a second term as President of the United States.
Speaking with CNBC-TV18, Spiegel looked back at America’s history of growth. He said big ideas have often shaped times of change and mentioned past US leaders like Franklin D Roosevelt and Ronald Reagan, whose ideas, he said, have changed the country’s path for many years. Though it’s too early to say if now is such a time, he sees potential.
Ukraine carries out first strike with US missiles in Russia
Ukrainian forces carried out their first strike on a border region in Russia using Western-supplied missiles as President Vladimir Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons.
Ukraine deployed ATACMS missiles to strike a military facility in the western Bryansk region, Russia’s Defense Ministry said, according to the Interfax news agency. It was the first known attack following the decision by President Joe Biden’s administration to approve Kyiv’s limited use of the weapons to hit targets inside Russia, two months before Donald Trump took over promising to quickly end the war.
Adani Group nears deal to buy 60% stake in PSP Projects: Exclusive
The Adani Group is in the advanced stages of negotiations to buy a stake in PSP Projects, sources with knowledge of the matter told CNBC-TV18. Sources said the Adani Group may acquire a 60.14% stake from its promoters.
The deal, if completed, may trigger an Open Offer for 26% public shareholding. PSP Projects currently has a market capitalisation of ₹2,800 crore.
Delhi Air Pollution: Delhi Metro hits record daily ridership of 78.67 lakh on Nov 18 amid severe pollution
The air quality in Delhi and its surrounding areas, including Noida, Ghaziabad, and Gurugram, hit “alarmingly high” levels on Tuesday, with most Air Quality Index (AQI) monitoring stations registering the maximum 500-mark in the severe-plus category. A dense layer of smog continued to shroud the National Capital Region (NCR) for the seventh consecutive day, raising concerns about public health and safety.
The hazardous air quality severely disrupted train services, with 22 trains delayed and eight rescheduled, leaving passengers stranded and frustrated. Prolonged exposure to the toxic smog has led to growing alarm among authorities and residents alike.
Educational institutions have also taken precautionary measures. Delhi University announced a shift to online classes until November 23, while Jawaharlal Nehru University (JNU) will conduct virtual classes until November 22. These decisions were made in response to the worsening pollution levels and to safeguard students and staff. Jamia Millia Islamia also announced that it will conduct classes online until Saturday, November 23.
Catch LIVE Updates on Delhi Pollution here
Maharashtra Election 2024 Live: Mumbai Metro extends service hours for polling day
Union Home Minister Amit Shah, who is on a two-day Gujarat visit, on Monday (November 18) evening expressed confidence about the BJP and its allies winning the assembly polls in Maharashtra and Jharkhand.
Addressing a gathering of the ruling BJP organised on the outskirts of Ahmedabad city, Shah noted India was on its way to becoming the third largest world economy, from the fifth now, by 2027 under the able leadership of Prime Minister Narendra Modi.
Gujarat Chief Minister Bhupendra Patel was among key leaders who attended the informal gathering organised by the Ghatlodia assembly unit of the party, said a BJP release.
Maharashtra, where the BJP is part of the ruling coalition, will vote in a single phase on November 20, while Jharkhand, where the saffron party is in the opposition, will see the second and last round of polling the same day. Poll results will be announced on November 23.
Catch Live Updates on Maharashtra Elections here
India: Growth Winds | How will trump’s polices affect India
As India’s growth shows signs of a slowdown, Latha Venkatesh speaks to Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister, about the outlook for the economy, the need for rate cuts to boost growth and more. They also discuss the possible impact of incoming US President Donald Trump’s policies on the Indian economy and the disparities in the economic performance of states
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