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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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When Regulator Facebooks

3

What is it? The three entities—Rupeshbhai Kantilal Savla, Sujay Ajitkumar Hamlai and V Techweb India Pvt Ltd—from whom the market regulator has ordered impounding of unlawful gains worth over Rs 2.4 crore in an insider trading case.

Why is it important? The Securities and Exchange Board of India (Sebi) trawled the Facebook profiles of the suspected people to check if they were connected in the case, which violated insider trading norms. SEBI found the involved persons were ‘friends’ on Facebook and had liked each other’s posts, an instance of the regulator combing social media to track insider trading.

Tell me more: The order stated that by way of “this association and frequent communications, they are reasonably expected to have access to unpublished price-sensitive information” related to the firm in which shares were traded by the involved persons.

 

3

What is it? The number of years since the death of former judge BH Loya. He died of a cardiac arrest on December 1, 2014, in Nagpur, according to the Maharashtra police.

Why is it important? On Thursday, a three-judge Supreme Court bench, in a scathing verdict, dismissed a batch of petitions that sought an independent investigation into Loya’s death and said the pleas were an attempt to scandalise and obstruct the course of justice. It said public interest litigations were being misused for personal agendas. The BJP and Congress got into a war of words after the dismissal of these pleas.

Tell me more: The death of Loya came into focus after some media reports said that his sister had raised suspicions about the circumstances of his death. Loya was hearing the case regarding the death of a gangster Sohrabuddin Sheikh in which Amit Shah, president of BJP, was an accused.

 

Rs 6,904 crore

What is it? Tata Consultancy Services’ (TCS) net profit in the January-March quarter of 2017-18.

Why is it important? India’s largest software services exporter saw its banking and financial services vertical, its largest contributor, grow 2.3% sequentially and 8.2% year-on-year. The firm had witnessed lower client spending, particularly in this sector in North America, last year. A turnaround in the banking and financial services vertical, in addition to growth in digital services, is likely to help TCS achieve its 10% dollar-revenue growth in 2018-19.

Tell me more: Its Q4 revenue increased by 8.2% to Rs 32,075 crore on an annual basis. In 2017-18, TCS’ net profit declined 1.8% to Rs 25,826 crore.

 

102

What is it? The number of words devoted to India (out of 4,310) by Amazon founder and CEO Jeff Bezos in his 2017 letter to shareholders, released late Wednesday.

Why is it important? India received a para under the section ‘recent milestones’. India is one of the big markets identified by Amazon to open up new frontiers of growth, and it is locked in a bruising battle here with Flipkart, which might soon have a new owner in Amazon’s rival in the US, Walmart.

Tell me more: Bezos also disclosed that Amazon Prime crossed 100 million members worldwide in 2017 and that this paid membership service added more members than any previous year.

 

$5 million

What is it? The amount paid by cyclist Lance Armstrong to the US government to settle a whistleblower lawsuit.

Why is it important? The lawsuit, filed in 2013, could have sought damages of up to $100 million from Armstrong—whose team was sponsored by the US Postal Services—for using performance-enhancing drugs en route to winning the Tour de France race seven times, victories that have since been scratched from the record book. This lawsuit would have possibly been the biggest claim against Armstrong, who has reportedly paid about $20 million in damages and settlements.

Tell me more: The original lawsuit against Armstrong was filed by Floyd Landis, a former teammate and also banned cyclist. Landis is eligible for up to 25% of the settlement amount.

 

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The Steep Learning Curve

 

Children between the age group 14-18 in rural India are having a hard time doing the basic maths or reading text, according to a survey that spanned 26 rural districts. According to several estimates, India is projected to become a manufacturing powerhouse due to its huge demographic dividend. But, to really reap the benefits from our upcoming millennial generation, government would need to focus on their foundational education, without which this dividend could become a massive deterrent in the future.

 

57%

What is it? The number of Indian children in the age group 14-18 years who could not do a division problem (3 digit by 1 digit) correctly.

Why is it important? This shortcoming in a key foundational skill is one of the many findings of the Annual Status of Education (ASER) Report 2017, released yesterday, and illustrates the deficiencies that plague the Indian educational system. According to the report, “even among youth in this age group who have completed eight years of schooling, a significant proportion still lack foundational skills like reading and arithmetic.”

Tell me more: This year’s survey focused on 14-18 year olds, and interviewed 28,323 youth in that age group in 26 rural districts across 24 states. Information was collected for four domains: activity, ability, awareness and aspirations.

 

28-46%

What is it? The price drop in top cryptocurrencies—Bitcoin, Ethereum and Ripple—during trading on Tuesday.

Why is it important? The latest fall came in the backdrop of news trickling in that more countries, led by South Korea and China, were looking to step in to regulate trading in cryptocurrencies, including taking drastic action like banning trading. Elsewhere, a research paper laid bare instances of, what it said were, price manipulation in Bitcoin on the Mt Gox Bitcoin currency exchange.

Tell me more: According to this paper, a single actor likely drove the USD/BTC exchange rate from $150 to $1,000 in 2 months in late-2013, volumes on all exchanges increased greatly on days with suspicious activity and unregulated cryptocurrency markets remain vulnerable to manipulation.

 

8

What is it? The number of e-commerce portals that Patanjali Ayurved tied up with yesterday to sell its wide range of products.

Why is it important? Offline, the Baba Ramdev company has made its presence felt in several FMCG spaces that were the strongholds of multinationals, and a presence on some of the most popular e-commerce portals could help it open another distribution flank against them. In the first year, the company is targeting Rs 1,000 crore sales from these online channels.

Tell me more: Patanjali’s revenues have rocketed from Rs 2,006 crore in 2014-15 to Rs

Rs 10,561 crore in 2016-17, which made it about one-third the size of Hindustan Unilever. On the sidelines of yesterday’s announcement, Baba Ramdev said he was looking to convert Patanjali, currently a company, to a “non-profit organisation”, which some experts saw as an objective to save tax.

 

$690 million

What is it? The value of a 10-year outsourcing contract that technology major TCS yesterday said it had bagged from M&G Prudential, the European savings and investments business of Prudential.

Why is it important? This is the third big, multi-year contract that TCS has secured in the past month or so, following a $2.25 billion renewal—its largest ever by an Indian IT firm, spread over 10 years—from Nielsen and a $2 billion win from Transamerica. The Tata Group IT major needs these wins to lift up growth, which was underwhelming in the latest results announced earlier this week.

Tell me more: Earlier this week, TCS COO N Ganapathy Subramaniam said TCS would record double-digit growth in 2018-19, aided by the kicker provided by the new contracts. In the third quarter, it reported net addition of 1,667 employees.

 

12.6%

What is it? The stake that Bajaj Finance is acquiring in MobiKwik, a mobile wallet firm, which is more than the 10.8% it had said it would when it invested Rs 225 crore in August.

Why is it important? Bajaj Finance told the Bombay Stock Exchange yesterday that the higher stake was the result of a change in price of the compulsory convertible cumulative preference shares. The lower conversion price suggests the valuation of MobiKwik has fallen in the intervening period, from $327 million to $279 million.

Tell me more: MobiKwik competes against the likes of Paytm and Freecharge. For 2016-17, it reported declining revenues and increasing losses. Its revenues stood at Rs 37.3 crore (against Rs 38 crore in 2015-16) and loss at Rs 131 crore (Rs 109 crore).

 

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Pyongyang’s sanctioned trade

$3 billion

What is it? North Korea’s annual export revenue.

Why is it important? This is likely to be cut by a third due to the new sanctions imposed by the United Nations for its intercontinental ballistic missile testing in July. The resolution against North Korea represents the “strongest sanctions ever imposed in response to a ballistic missile test”. These sanctions are to cut off Pyongyang’s money supply and prevent it from further developing its outlawed missile expansion program.

Tell me more: It was a unanimous decision of the UN Security Council with 15 votes in favour that targets North Korea’s primary exports including coal, iron, iron ore, lead, lead ore and seafood.

 

10 days

What is it? The number of days spent by Congress MLAs (member of legislative assembly) from Gujarat at a hotel resort near Bengaluru, ahead of the Rajya Sabha elections.

Why is it important? The forty-four MLAs returned to their home state after being flown away to Bengaluru to prevent them from either quitting or defecting ahead of the Rajya Sabha elections in Gujarat on Tuesday.

Tell me more: At stake is the fifth re-election of Congress head, Sonia Gandhi’s political secretary, Ahmed Patel to the Rajya Sabha from Gujarat. The MLAs were again whisked away to another resort in in Anand, near Ahmedabad on return.

 

2 lakh-tonne

What is it? The quantity at which the Indian government has capped the import of arhar dal (split pigeon pea).

Why is it important? This comes at a time when farmers are demanding a better price for arhar dal following a record production of 22.4 million tonne of pulses in 2016-17 and 4.6 million tonne of arhar dal (record) in the same year. The prices of arhar dal shot up to Rs 200 per kg last year, following which the government imported 30 lakh tonnes of pulses, of which 20 lakh tonne are lying in its warehouses.

Tell me more: India is not only the biggest producer but also, the largest consumer and importer of pulses.

 

116

What is it? The number of sexual harassment complaints reported in IT software and services company, Wipro, in the year 2016.

Why is it important? This was the highest number of such complaints with a listed company in the latest reporting year (FY17, according to Sebi guidelines), of which 102 were resolved. The numbers increased last year compared to previous years, and not just for Wipro. While Wipro’s went up from 111 in 2015 (with 107 solved), Infosys’ went up from 62 in FY16 to 88 in FY17 (77 resolved), and TCS’ cases went up from 34 to 65 (with 61 resolved) in that time.

Tell me more: The Securities and Exchange Board of India had made it mandatory for listed company to disclose the number of complaints and their pendency at the end of the financial year in their annual reports.

 

56

What is it? The number of employees in United Spirits who received above Rs 1 crore in salary in FY17.

Why is it important? This could be an attempt by Diageo, which has majority stake in United Spirits, to professionalise the management by attracting talent in an industry affected by multiple factors — alcohol ban in Bihar, demonetisation and the Supreme Court banning alcohol sale along the national highways. The number of crorepatis is more than even some tier-I IT companies such as Infosys (51).

Tell me more: Diageo completed buying controlling stake of 55% in the company in 2014.

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