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Apple iPhone 12 Production Delayed Amidst Pandemic

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 29, 2020 4:02 AM 4 min read
Editorial

Apple iPhone 12 production delayed amidst pandemic. Airtel signs deal worth $1bn with Nokia to enhance network capacity. Reliance Industries mulls first rights issue in three decades. An asteroid is headed towards Earth tomorrow – but we’re safe from collision. 

 

  

COMPANIES

Airtel signs deal worth $1bn with Nokia to enhance network capacity. 

India's Fastest Network

Telecom giant Airtel has signed a $1bn multi-year deal with Nokia in a bid to strengthen its 4G network, improve customer experience and enhance 5G capabilities in India.

 

Nokia, which is the largest 4G vendor in Airtel network, will help lay the foundation for providing 5G connectivity in the future by deploying 300,000 radio units across several spectrum bands in nine circles, expected to be completed by 2022. [The Hindu]

 

Reliance Industries mulls first rights issue in three decades.

Once in a Blue Moon

Energy-to-technology conglomerate Reliance Industries is planning a rights issue - its first fund-raise from the public in over three decades. The decision would be taken at its board meeting on April 30th. [Reuters]

 

BANKING IN INDIA

Axis Bank to acquire 29% stake in Max Life Insurance. 

Health is Where Wealth is 

The Board of Axis Bank has approved purchase of an additional 29% stake in Max Life Insurance, taking the private lender's total stake in the insurer to 30%.

 

Max Financial Services presently holds a 72.5% stake in Max Life and Mitsui Sumitomo Insurance (MSI) owns 25.5% stake. [Livemint]

 

Banks have technically written off over ₹68,000cr ($9,080m) in loans, reveals RTI. 

Money Heist

Indian banks have technically written off a whopping ₹68,607cr ($9,080m) till September 30th, 2019, due from 50 top wilful defaulters, according to a reply under RTI from the Reserve Bank of India (RBI). See who all are on the list here. [CNBC TV18]

 

BANKING GIANTS

HSBC Q1 profit halves on higher bad loan provisions. 

The Crippling Giant

Europe's biggest bank by assets HSBC said profit before tax came in at $3.21bn for Q1, down from $6.21bn last year.

 

Net interest margin stood at 1.54% vs 1.59% a year ago. Operating expenses were down 4.5% from a year ago to $7.85bn. [CNBC]

 

UBS reports a 40% increase in profits.

From Strength to Strength

World’s largest wealth manager by assets UBS said its net profits rose 40% to $1.6bn in Q1 as its focus on lending to the world’s wealthy and Swiss customers cushioned it from the blow felt by other global lenders from the pandemic. [Business Insider]

 

MATTERS OF TECH

Ecommerce policy and digital tax drive a wedge between India and USA. 

Beneath the Surface

India and US may have found common ground of late over efforts to combat COVID-19 and vaccine development. But tensions related to trade and economic policies remain beneath the surface, even if belittled by the pandemic. Some of the main tensions concern India’s ecommerce policy, which is being revised to impact all marketplace and inventory-based operations, and the digital tax, an equalisation levy imposed on tech giants. Read this article for a deep dive. [Inc42]

 

Extra Crunch

Venture capital investments in Indian startups plunged to $2.2bn in the first quarter of CY2020. The same number for October-November 2019 was $6bn. [ET Tech]

 

Apple iPhone 12 production delayed amidst pandemic. 

iPhone, Therefore iAm

In what won’t come as a surprise to anyone, the COVID-19 pandemic has disrupted Apple's global supply chains and manufacturing. Consequently, the production of the upcoming iPhone 12 handsets has been delayed by around a month. [The Verge]

 

Air traffic may not bounce back for two or three years, Boeing CEO warns.

A Long and Winding Road

It’s no secret that the lockdowns currently enforced around the world have decimated the aviation industry, and we all expected it to be sometime before normalcy returned to the skies. However, Boeing CEO David Calhoun has outlined a even darker outlook – air traffic may not bounce back for two or three years, he has said. It will be “years” before it returns to pre-pandemic levels. [WSJ]

 

OF SPACE AND SCIENCE

An asteroid is headed towards Earth tomorrow – but we’re safe from collision. 

Out of this World

It would seem as if the only way to take a break from the onslaught of COVID-related news is to actually leave the planet. So let’s do just that.

 

On Wednesday, a big asteroid named 1998 OR2 will pass by Earth, and it’s going to be a close shave. To be clear, it will be a close shave in context of the unimaginably vast universe. In human terms, the asteroid will be 6.3m kilometres away during its tryst with our planet. That’s about 16 times farther from us than the moon is to the Earth. So, rest assured: there’s no threat of global catastrophe right now. (Besides the coronavirus, that is.) [Space.com]

 

Want to learn how scientists find, track and monitor asteroids and near-Earth objects? Watch this video. [NASA]

 

US Pentagon releases three declassified videos that seem to show UFOs.

It’s a Bird, It’s A Plane...

The Pentagon has released three declassified videos that show US Navy pilots encountering what are purportedly unidentified flying objects (UFOs). More on that here. [Guardian]

FIN.

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