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Tesla’s China Factory

5,00,000 units

What is it?Annual capacity of the car manufacturing factory that Tesla is reportedly planning to build in China.

Why is it important? This would be Tesla’s first major expansion beyond US, and comes at a time when US and China are fighting an escalating trade war; and when US president Donald Trump is openly antagonistic towards companies that are moving manufacturing outside US. He slammed Harley Davidson, America’s iconic motorcycle manufacturer for its offshoring plans. Meanwhile, China is opening up even further for FDI. It is expected to stop requiring foreign companies to have a local partner later this year, which would allow Tesla to own the factory 100%.

Tell me more: China is an important market for Tesla, accounting for 17% of its revenues in 2017. China is also fast emerging as a market for next generation of cars. Recently, it allowed Daimler to test its self driving cars in Beijing.

 

25%

What is it?Operating margins of Tata Consulting Services in the first quarter of 2018-19

Why is it important? The margins are up by more than a percentage point and a half compared same period last year, but shrank by 40 basis points from the previous quarter. It performed better than expectations, thanks in part to a recovery in banking, financial services and retail vertical.  It posted a net profit of $1.07 billion in the quarter.

Tell me more: Revenues from India shrank by about 1%, while growth in North America grew at its fastest pace in over three years.

 

22%

What is it?The rate at which India’s investment in clean energy went up in the first half of 2018 (to $7.4 billion), according to a report by Bloomberg NEF.

Why is it important? These investments will help the country move towards its goal of installing 175,000 megawatts (MW) of renewable energy capacity by 2022. In 2017-18, the country generated one lakh gigawatt hours of renewable energy for the first time.

Tell me more: Bloomberg NEF report said that in the last few years, the balance has shifted from Europe as largest clean energy investing region to Asia. Asia’s clean energy investments is mostly driven by China, which invested 17.6 billion in wind, and $35.1 billion in solar in the first half.

 

9

What is it?Number of states that got over 95% score in the ease of doing business ranking released by the government

Why is it important? The list published by Department of Industrial Policy and Promotion ranks the states and union territories based on 372 action points and feedback from businesses. Andhra Pradesh and Telangana topped the list, followed by Haryana, Jharkhand and Gujarat. Five states, Manipur, Sikkim, Arunachal Pradesh, Lakshwadeep and Megalaya scored less than 1%.

Tell me more:  This is the third edition of the list, and was published ahead of World Bank’s Ease of Doing Business, which ranks 190 countries. India was ranked 100 in 2017.

 

2,73,759 units

What is it?The number of passenger vehicles sold in June 2018 in India

Why it’s important? The sales are up 37.54% year on year, the fastest growth in nearly 9 years. This is thanks to a low base resulting from uncertainty over Goods and Services Tax last year and indicating that the growth rate is not sustainable. Three wheeler sales and two wheeler sales were up 55.89% and 22.28% year on year.

Tell me more:  The data, released by Society of Indian Automobile Manufacturers, showed Maruti Suzuki leading the pack. Passenger car sales were up 34.21% y-o-y to 1,83,885 units. Exports declined  7.37%.

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Digital pink slips

~1000

What is it? The number of senior/mid level Infosys employees who might be asked to leave the company.

Why is it important? It comes on the back of news about layoffs at Wipro and Cognizant, and together they underline the pressure IT majors are facing on business and regulatory fronts. Wipro recently said that if the demand doesn’t improve it might let go of 10% of its employees. Last week, Cognizant announced a voluntary separation programme for directors.

Tell me more: A recent pressure for IT companies came from the visa restrictions imposed by the United States, the sector’s largest source of revenue. Infosys recently announced it would hire about 10,000 employees in the US in the next two years.

181

What is it? The number of wickets taken by cricketer Jhulan Goswami in one day international tournaments.

Why is it important? It makes Goswami the top wicket taker in women’s one day internationals. The position was previously held by Australian bowler Cathryn Fitzpatrick, who held the record for nearly 10 years.

Tell me more: Goswami played a total of 153 matches and bowled 1238.4 overs, against Fitzpatrick’s 109 matches and 1002.5 overs. Goswami claimed the wicket of South Africa’s Raisibe Ntozakhe to break Fitzpatrick’s record. Goswami made her debut in 2002.

 

$40 million

What is it? The amount Vijay Mallya is said to have received from Diageo in February last year.

Why is it important?  In violation of Supreme Court directions to use the money to repay loans, Mallya allegedly transferred the amount to his children. The court now holds him guilty of contempt and has directed him to appear before it on July 10. Mallya is facing cases for default of about Rs 9000 crore in loans to various banks, and is in United Kingdom at present.

Tell me more: Efforts are on to extradite Mallya from UK. Enforcement Directorate is making an additional case for extradition on the evidence of money laundering.

 

277,000

What is it? The number of passenger vehicles sold in April in India, according to Society of Indian Automobile Manufacturers.

Why is it important? This is up 15% from 242,000 vehicles sold in April 2016, indicating that the impact of demonesation is wearing off. Analysts believe that the pent up demand could push automobile sales further during rest of the year.

Tell me more: Passenger cars (excluding SUVs and vans) sales went up 17.36% to 190,000 units April, largely driven by compact cars. Buyers picked up 7.34% more two wheelers in April compared to year ago period. However, commercial vehicles and three wheeler sales dropped.

 

$1,747.89

What is it? The close price of cryptocurrency Bitcoin on BitStamp platform on Tuesday.

Why is it important? Crossing the $1700 mark is an important milestone for Bitcoin, which continues to face skepticism from several quarters. The currency hit its all time high by surging over 80% in value since the beginning of this year. Starting April, Bitcoins became a legal tender in Japan, where it is trading at $1835 a coin.

Tell me more: As Bitcoin’s price surge in the market, businesses increasingly see more value in blockchain, the currency’s underlying technology.

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Did you buy a 🚗 or 🚗 🚗 this year?

9%

What is it? The growth in passenger vehicle sales (passenger cars, utility vehicles and vans) in FY17.

Why is it important? The segment saw a decline in sales due to cash crunch during demonetisation – sales had declined 1.4% in December.  As it recovered in January, the financial year ended with a sale of 3.05 million passenger vehicles. Between 2011-12 and 2016-17, the growth was the highest. But demand for passenger vehicles could fluctuate this year, as prices, especially of large passenger vehicles, are affected by GST and costlier BS IV norms coming into play.

Tell me more: Utility vehicles (sports utility vehicles or SUVs, multi-utility vehicles or MUVs) among passenger vehicle rose the sharpest, selling 30% more than FY16, while passenger cars sold 4% more.

 

>10%

What is it? The hike in school fees noted by over 75% parents in eight states in India, according to a survey.

Why is it important? The ~10% hike is more than the estimated increase in per capita income in FY17 (5.9%). The fee hike across states is not restricted to just 10%. Around 15% of the 9,000 guardians polled across India have been affected by a fee hike of over 20% this year.

Tell me more: The survey on school fees was carried out by the community social media platform, LocalCircles.

 

17 million

What is it? The number of urban households which do not have a separate kitchen in their homes.

Why is it important? This is around 26.1% of urban households (65.13 million), according to the Socio-Economic Caste Census, 2011. Families living in houses without separate kitchens are exposed to indoor pollution more than those with exclusive kitchens. It also means kitchens are missing from some households with more than one room, as one-room urban households number 15.93 million.

Tell me more: The SECC shows Mizoram and Bihar faring the worst. The SECC is different from the Census 2011.

38

What is it? The number of polling stations in Srinagar Lok Sabha constituency where re-poll will be held on Thursday.

Why is it important? This comes a few days after a by-election was marred by violence that left eight people dead. The voter turnout – at 7.14% – during the by-polls on Sunday was the lowest in 30 countries. All the 38 polling stations are in Budgam district, the most affected by violence. Srinagar lok sabha constituency covers Srinagar, Budgam and Ganderbal districts.

Tell me more: Election commission had earlier postponed the by-election for Anantnag constituency, which was scheduled to be held on Wednesday, to May 25.

 

$255 million

What is it? The amount United Continental Holding lost in market cap on Tuesday.

Why is it important? United Continental is the holding company of United Airlines which hit the headlines on media after it manhandled a passenger who refused to deplane. United was widely criticized for the act, and its CEO’s half hearted apology didn’t cut ice. At one point during the trading, the stock price fell by over 4% shaving off a billion dollar in its valuation.

Tell me more: United had earlier threatened to handcuff a passenger because he refused to leave his first class seat, because the airline wanted to make room for another passenger who was higher up on the priority list.

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Short-staffed 👮/👮👮

50%

What is it? The vacancy in the police department in Uttar Pradesh.

Why is it important? India’s most populous state has more than double the vacancy of the national average of 24%, and also the highest. While the sanctioned strength is 363,000, there are only 181,000 police personnel deployed in the state. The vacancies in IPS ranks in UP was revealed in the Parliament a few weeks ago. While the national average vacancy in IPS was 18.9%, UP had 22% vacant posts.

Tell me more: Only Nagaland was has a surplus in their police force, with 22,264 personnel against 21,574 sanctioned posts.

 

>12%

What is it? The growth in domestic passenger vehicles sold in March, 2017 over 2016.

Why is it important? The growth rate, as per company releases, indicates robust gains. The largest car maker, Maruti Suzuki, posted an 8% and second-largest, Hyundai, a 9% growth. March has been the best month for passenger vehicle sellers since the days of demonetisation that dampened consumer spending.

Tell me more: Tata Motors and Toyota Kirloskar registered growth above 80% in March. Mahindra struggled with reported BS III inventory and saw a decline in sales.

 

72 million

What is it? The number of customers Reliance Industries claims have signed up so far for its telecom offering, Jio under the Prime offer.

Why is it important? While the number attempts to capture the rush to avail of the near-unlimited and free data and voice services offer for a year, it also highlights the Jio’ marketing coup. The hitherto free services which would eventually draw a Rs-303 monthly fee from April, 15, has made it the wireless operator with the largest subscriber additions in February. It accounted for 73% of the total 27.8 million additions in February.

Tell me more: The enrolment in Jio Prime was extended beyond the previous deadline of March, 31 to April.

 

236,000

What is it? The number of H1B visa applications United States received last year

Why is it important? The H1B cap of 85,000 got filled within a week. The application process for this year begins today, in a political environment far different from last years. Donald Trump administration is far less welcoming of foreign workers and the US congress is looking at several bills that call for H1B reforms. Thenumber of applications by Indian IT firms will be keenly tracked.

Tell me more: Indian IT companies are big users of H1B, and reforms in US would force them to change their strategy, and be less dependent on H1B visas. Some firms – including Infosys and Wipro, have been moving in that direction for some time now.

 

$12 billion

What is it? The combined net worth of US president Donald Trump’s senior staff members.

Why is it important? It’s wealthiest in the modern American history. Donald Trump won the elections mostly by appealing to the anger of the middle class Americans at the elite, and the fear of job losses. Ivanka Trump and Jared Kushner, Trump’s daughter and son in law, who have important roles in the administration, have business interests worth $740 million.

Tell me more: The details of personal wealth are from disclosures made by White House starting Friday night.

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