Reliance Retail acquires Urban Ladder

Using science to check metal's purity

How do you know whether a gold bar is pure or mixed with impurities?

After all, you may think that in a shipment of multiple gold bullion, it may be easy to slip in a dud or two to fool the purchaser.

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One killed after single-vehicle rollover on I-70 Friday night

One person died after a single-car rollover crash Friday night at Interstate 70 and North Peoria Street.

Denver police tweeted about the crash just before midnight on Friday, and on Saturday afternoon said the crash was fatal.

No other details were immediately available about the circumstances surrounding the fatality.

— Denver Police Dept. (@DenverPolice) November 14, 2020

E-mail is dead, long live e-mail

48,822… 48,825… 48,831…

Sometimes, when I am feeling especially overwhelmed, I just pause and watch the little unread e-mails counter tick up.

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Preserving wealth with gold you can touch

This is what more than $4 million worth of gold looks like.

In all, these two stacks of pure gold bullion comprise 50 pieces, each smaller than the palm of your hand but weighing a hefty 1kg.

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Mexico surpasses 1 million confirmed cases of coronavirus

MONTERREY, Mexico (Reuters) – Mexico’s health ministry reported on Saturday 5,860 new cases of the novel coronavirus in the country and 635 deaths, bringing the official totals to 1,003,253 cases and 98,259 dead.

Health officials have previously said the real number of cases is likely significantly higher than the reported figures.

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AllianceBernstein Applied to Set Up China Fund Firm: Regulator

AllianceBernstein Hong Kong Limited has applied to set up a mutual fund company in China, the country’s top securities regulator said on itswebsite.

The China Securities Regulatory Commission received the application from the Hong Kong-based investment-management company on Nov. 12, it said.

In August,BlackRock Financial Management, Inc. became the first foreign business to receive approval from the commission when it got the go-ahead to set up a wholly-owned mutual fund management company.

— With assistance by Charlie Zhu, and Tongjian Dong

Peru’s Interim Leader Told to Resign or Be Removed by Congress

The acting head of Peru’s Congress called for the resignation of the country’s interim president after two people were killed during protests against his government.

Lawmakers will meet on Sunday morning to discuss naming a new interim leader to replace Manuel Merino, who assumed the presidency last week following the ouster of Martin Vizcarra over bribery allegations.

Luis Valdez, the acting head of Congress, told the Lima-based TV network Canal N that Merino should resign immediately following a fifth day of protests.

The impeachment of the country’s most popular leader in decades came just five months after a general election and plunged the South American nation into turmoil. The Organization of American States has called on the country’s Constitutional Court to decide whether the impeachment was legal.

Thousands of Peruvians marched to the center of Lima to protest Vizcarra’s impeachment, many calling for Merino to quit.

While the demonstrations were largely peaceful, there were violent clashes in streets near Congress as riot police used tear gas to disperse protesters, some of whom responded by hurling rocks. Two men ages 24 and 25 died from gunshot wounds, Canal N reported, citing a statement from the hospital.

The Ombudsman’s office said Friday the police used excessive force during this week’s demonstrations, including firing buckshots at protesters.

Reliance Retail acquires Urban Ladder

Incorporated in India in 2012, Urban Ladder is in the business of operating a digital platform for home furniture and décor products

Reliance Retail Ventures Ltd. (RRVL), a subsidiary of Reliance Industries Ltd. (RIL), has acquired 96% of equity shares of Urban Ladder Home Décor Solutions Private Ltd. for a cash consideration of ₹182.12 crore.

RRVL has the option of acquiring the balance stake, taking its shareholding to 100% in the acquired company.

RRVL will make a further investment of up to ₹75 crore in Urban Ladder and this investment is expected to be completed by December 2023, the company said in a filing with stock exchanges.

Incorporated in India in 2012, Urban Ladder is in the business of operating a digital platform for home furniture and décor products.

It also has a chain of retail stores in several cities across India.

For the FY19, it reported a turnover of ₹434 crore and a net profit of ₹49.41 crore.

“The aforesaid investment [in Urban Ladder] will further enable the group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group, while enhancing user engagement and experience across its retail offerings,” RIL said.

No governmental or regulatory approvals were required for the said investment, it added.