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Twitter Suspends More than 70 million Fake Accounts, US Job Data Grows et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 7, 2018 11:56 AM 2 min read
Editorial

End of Day Wrap-up (Saturday / July 07, 2018) #Flipkart #Amazon #ecommerce #MukeshAmbani #Reliance #KKR #HDFC #UBI #US #Twitter #Transfin

Editor's Comment: Govt to prepare a single national policy for  e-commerce sector in India.This policy shall ensure that foreign investment policy is not violated. India will also broaden the definition of ecommerce to include any buying, selling, marketing, distribution and delivery of goods and services through electronic means and come out with a single legislation for ecommerce.

 

Shareholders of Reliance Industries approve extension of Mukesh Ambani's term as the Chairman and Managing Director of the company for another 5 years. Ambani, has been on the board of Reliance Industries since 1977 and was elevated as Chairman of the company after the death of his father and group patriarch Dhirubhai Ambani in July 2002.

 

Global private equity firm KKR acquires stake worth c. INR1.5bn in HDFC Mutual Fund ahead of its IPO.

 

United Bank of India to raise equity capital of INR1,500cr.

 

US adds 213,000 jobs in June, better than expected. US stocks climbed on Friday, with the S&P 500 and the Nasdaq hitting their highest levels in two weeks, as strong US jobs growth blunted the impact of an escalating US-China trade dispute. However, unemployment rate rose to 4% as more people returned to the job market.

 

Twitter suspends more than 70 million fake accounts in May and June in a massive drive to clear out bots and trolls on the platform. The crackdown on suspicious accounts came amidst mounting political pressure after Congress criticised Twitter for lax regulation on foreign-controlled fake accounts to spread false information that may impact US domestic politics.