News Wrap Dec 17: CCI suspends nod for Amazon-Future deal; Shankar Sharma on market correction in 2022; Dr VK Paul on booster shots and more

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The Competition Commission of India (CCI) has suspended the approval for the Amazon-Future deal and also imposed a Rs 202 crore penalty on Amazon. State Bank of India has increased the base rate and prime lending rate by 10 basis points each. On a day when markets witnessed a sharp sell-off amid negative global trend, market veteran Shankar Sharma is of the view there can be a further 10 percent in 2022. Meanwhile, India’s Omicron tally has surged to 101 and several experts have called for a booster dose policy. Here are some top news of the day

ECONOMY/BUSINESS

Amazon internal e-mails show company lied, suppressed facts on Future deal: CCI

While suspending its approval for the Amazon-Future deal, the Competition Commission of India (CCI) noted that Amazon suppressed facts, made false statements and misled the regulator, as could be seen from the company’s internal e-mails. Read more

State Bank of India hikes base rate, prime lending rate

State Bank of India, the country’s largest bank, has increased the base rate and prime lending rate by 10 basis points each, marking the beginning of the end of the low-interest rate regime. Check details

Bharti Airtel prepays Rs 15,519 crore in liability for 2014 spectrum

Telecom major Bharti Airtel on Friday said it has paid Rs 15,519 crore to the government towards prepayment of its entire deferred liability pertaining to spectrum acquired in the 2014 auction. Read more

MARKETS

Indian equity markets correct 3% for the week; experts discuss road ahead for investors

It was a sea of red on Dalal Street with the Nifty and the Sensex seeing sharp cuts on Friday. For the week both the indices ended over 3 percent lower. Check what experts say

Can’t rule out 10% correction in 2022, says Shankar Sharma

Market veteran Shankar Sharma believes that the markets can see a correction in 2022. He remains bullish on the IT sector while adding that bank stocks might underperform expectations of a stellar run. Dig deeper

Why are Indiabulls Housing Finance shares falling and is this an opportunity?

Indiabulls Housing Finance shares are down around 8 percent after founder Samir Gehlaut sold his 11.9 percent stake in the company. CNBC-TV18’s Nimesh Shah explains the factors behind the fall and whether it is an opportunity to buy the stock. Read more 

INDIA

India’s Omicron tally rises to 101;

India’s Omicron tally has surged to 101. The COVID-19 ‘variant of concern’ has been reported in 11 states so far. Check more details

Dr VK Paul on when decision on booster shots will be taken

Head of India’s National COVID Task-Force, Dr VK Paul has said the decision on booster shots will be taken when science dictates. Read more

Supreme Court stays proceedings of Lokur panel probing Pegasus snooping allegations

The Supreme Court on Friday stayed the ongoing probe by the West Bengal government-appointed commission headed by former apex court Justice MB Lokur into the Pegasus snooping allegations. Read more

WORLD

CDC recommends Pfizer, Moderna COVID-19 vaccine shots over J&J’s

Most Americans should be given the Pfizer or Moderna vaccines instead of the Johnson & Johnson shot that can cause rare but serious blood clots, US health officials said. Read more

Why US is targeting China in its war on painkillers

The US has imposed new sanctions on drug manufacturers in an effort to crack down on the flow of cheap foreign-made painkillers into the country. Dig deeper

Miss World 2021 finale postponed as COVID strikes

The Miss World 2021 finale has been temporarily postponed after several of the contestants and staff contacted COVID-19. The announcement came from the Miss World Organisation just hours before the finale was about to begin. Read more

YOU & ME

Want to gift bitcoins? Check four easy ways to do it

Gifting cryptos to your near and dear ones can be a wonderful way to get them started on their investment journey. If you are wondering how to gift Bitcoin, here are the various ways

2021 rewind: 4 Hindi films released on Netflix this year that you should watch

2021 has been an interesting year for Hindi cinema. Since stars are too big for small screens, a lot of young, emerging talent found their way into homes and hearts. Here are 4 films on Netflix you must watch

Top mistakes to avoid before investing in mutual funds

Check out tips by experts on what to buy, how to trade and how to invest in mutual funds. Read more

(Edited by : Kanishka Sarkar)

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