Rupee slips 8 paise to close at 72.43 against U.S. dollar

Around 3,000 jobs at risk as Asda announces 'major restructuring' of supermarket

Asda has launched consultations over a major restructuring which could put around 3,000 back office store workers at risk.

The supermarket giant said the major restructuring has been driven by the ‘structural shift’ towards online grocery shopping during the pandemic.

The grocery firm said it also plans to create around 4,500 jobs in its online operations this year and will look to hire staff affected by the restructuring.

More to follow

New Ad Calling Out Fox News Host Causes #TuckerIsABigot To Trend On Twitter

The #TuckerIsABigot hashtag trended nationally on Twitter Thursday following the release of a damning online ad that called out Fox News personality Tucker Carlson’s downplaying of the deadly U.S. Capitol riot.

In the spot for the Really American PAC, veteran radio host Chip Franklin slams Carlson for denying that the Jan. 6 storming of the Capitol by supporters of then-President Donald Trump was an armed insurrection or that white supremacists were involved in the violence.

Carlson has in recent weeks sown doubt about COVID-19 vaccines, peddled a conspiracy theory about President Joe Biden’s marriage and played dumb on the QAnon movement.

Really American’s video received more than half a million views in its first eight hours on Twitter.

The PAC ― which describes itself on YouTube as “a group of passionate Americans who want to ensure the United States remains an inclusive and welcoming country for generations to come” ― released multiple viral spots attacking Trump before the 2020 election.

Following Biden’s victory, the group has pivoted to attacking Trump’s enablers and allies in Congress and elsewhere.

RELATED…

Flipkart to add 25,000 EVs to its delivery fleet by 2030

Ropes in Hero Electric, Mahindra Electric, Piaggio

A day after e-tailer Amazon tied up with Mahindra Electric to deploy 10,000 electric vehicles in its delivery fleet for India by 2025, its arch-rival Flipkart said it would introduce more than 25,000 EVs in its supply chain to achieve 100% transition to e-mobility by 2030.

Flipkart’s last-mile delivery electric fleet would include 2-wheeler, 3-wheeler, and 4-wheeler vehicles designed and assembled in India. As a precursor to this green move, the company has partnered with electric vehicle manufacturers such as Hero Electric, Mahindra Electric and Piaggio.

The home-grown e-tailer has already started piloting and deploying 2-wheeler and 3-wheeler electric vehicles in Delhi, Bengaluru, Hyderabad, Kolkata, Guwahati and Pune for delivery, as per the company.

“This is in line with Flipkart’s public commitment to transition to electric vehicles across its city logistics fleet and help set up charging infrastructure around delivery hubs and offices to fast track the adoption of EVs in India,” it said in a release.

Flipkart’s new fleet would include the Nyx series scoters from Hero Electric, Treo Zor 3-wheeler from Mahindra Electric and Ape’ E Xtra FX (3W) from Piaggio.

Rep. Jim Jordan’s ‘Trump Is The Leader’ Of The GOP Tweet Goes Awry

Republican Rep. Jim Jordan boldly declared on Twitter Thursday that the one-term ex-President Donald Trump “is the leader” of the GOP.

The Ohio Republican ― who is the latest in a long line of Trump sycophants appearing to suggest the party will implode without the former president ― received a series of stinging reminders in response.

Many critics recalled Trump’s 2020 election loss to President Joe Biden and the GOP losing both their House and Senate majorities to the Democrats during the Trump era:

RELATED…

The AES Corporation Q4 adjusted earnings Beat Estimates

Below are the earnings highlights for The AES Corporation (AES):

-Earnings: $318 million in Q4 vs. -$78 million in the same period last year.
-EPS: $0.47 in Q4 vs. -$0.12 in the same period last year.
-Excluding items, The AES Corporation reported adjusted earnings of $428 million or $0.48 per share for the period.
-Analysts projected $0.44 per share
-Revenue: $2.56 billion in Q4 vs. $2.43 billion in the same period last year.

Canadian Imperial Bank of Commerce Q1 adjusted earnings of C$3.58 per share

Canadian Imperial Bank of Commerce (CM.TO) announced a profit for its first quarter that increased from the same period last year.

The company’s profit came in at C$1.62 billion, or C$3.55 per share. This compares with C$1.21 billion, or C$2.63 per share, in last year’s first quarter.

Excluding items, Canadian Imperial Bank of Commerce reported adjusted earnings of C$1.64 billion or C$3.58 per share for the period.

The company’s revenue for the quarter rose 2.1% to C$4.96 billion from C$4.86 billion last year.

Canadian Imperial Bank of Commerce earnings at a glance:

-Earnings (Q1): C$1.64 Bln. vs. C$1.48 Bln. last year.
-EPS (Q1): C$3.58 vs. C$3.24 last year.
-Revenue (Q1): C$4.96 Bln vs. C$4.86 Bln last year.

Rupee slips 8 paise to close at 72.43 against U.S. dollar

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.45% to 89.77

The Indian rupee ended 8 paise lower at 72.43 (provisional) against the U.S. dollar on Thursday, weighed down by the spike in global crude oil prices.

At the interbank forex market, the local unit opened at 72.35 against the greenback and witnessed an intra-day high of 72.34 and a low of 72.53.

It finally ended at 72.43 against the American currency, registering a fall of 8 paise over its previous closing price.

On Wednesday, the rupee had settled at 72.35 against the American currency.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.45% to 89.77.

"Rupee traded weak near 72.40 on back of some strength in the dollar and with higher crude price, where Brent touched 67+ and Nymex 63," said Jateen Trivedi, Senior Research Analyst at LKP Securities.

Rupee can be seen trading between 72.10-72.60 with the broad trend still strong for rupee till the time 72.75 hold as resistance for USDINR, Mr. Trivedi added.

Brent crude futures, the global oil benchmark, advanced 0.42% to $67.32 per barrel.

On the domestic equity market front, the BSE Sensex ended 257.62 points or 0.51% higher at 51,039.31, while the broader NSE Nifty advanced 115.35 points or 0.77% to 15,097.35.

Foreign institutional investors were net buyers in the capital market and purchased shares worth ₹28,739.17 crore on a net basis on Wednesday, according to exchange data.