BQuick On Nov. 18: Top 10 Stories In Under 10 Minutes  

Here is a roundup of the day’s top stories in brief.

1. From Yes Bank To Lakshmi Vilas Bank, Lessons From Bank Failures

While bank failures are neither new nor unique to India, the quick succession in which we have seen lenders of material size fall is worrying, writes Ira Dugal.

Read more.

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2. Pfizer, BioNTech Vaccine Proves 95% Effective

Pfizer Inc. said a final analysis of clinical-trial data showed its Covid-19 vaccine was 95% effective, paving the way for the company to apply for the first U.S. regulatory authorization for a coronavirus shot within days.

The update is the latest in a string of promising developments on the vaccine front in recent days.

Also Read: India Covid Tally Tops 89 Lakh With Over 38,000 New Cases

3. Vaccine Distribution: Two Key Challenges

While at least three potential Covid-19 vaccines have shown encouraging trial results, Snowman Logistics Ltd. sees two key hurdles.

The company wants to be part of the government’s immunisation programme and distribution process.

Also Read: Will Covid-19 Vaccines Be The Gift Of 2021?

4. Nifty Stone’s Throw Away From 13,000; Bitcoin Breaches 18,000

Indian stocks ended the day with gains after a volatile trading session as investors continued to snap up shares on expectations of a domestic economic recovery.

Follow the day’s trading action here.

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U.S. stocks were mixed as investors weighed signs that scientists are making fast progress toward a coronavirus vaccine with news of fresh restrictions to curtail the spread.

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5. Repaying DHFL’s Depositors, Bond Holders

Financial creditors to Dewan Housing Finance Corporation Ltd. are considering an option where retail depositors and small investors in non-convertible debentures can have their principal dues settled in full.

This could cover nearly 90% of these retail depositors and bondholders. More details here.

6. BPCL’s New Suitor

Vedanta Group on Wednesday confirmed putting in an expression of interest for buying government’s stake in Bharat Petroleum Corp.

Read more here.

7. Howard Marks Turns Cautious Again

Howard Marks, the dean of distressed-debt investing who turned bullish within days of the sector’s 2020 low, is back to a cautious stance now that the ensuing rally has whittled attractive targets down to pre-pandemic levels.

While Marks still believes there is no point in timing the market, he has doubts about the wisdom of buying at current prices.

Also Read: Oaktree, Apollo Lead Giants Betting on Stressed India Assets

8. India’s Hottest Internet Stock

As optimism about a coronavirus vaccine drives a shift away from technology shares, one such stock in India keeps rallying as market watchers bet its investments in startups will start to pay off.

Still, that skepticism hasn’t stopped the stock’s advance.

9. Boeing’s 737 Max Gets Green Light To Fly Again

Boeing Co.’s 737 Max can safely return to the skies with an extensive package of fixes, U.S. regulators ruled, after a scarring 20-month hiatus prompted by a pair of fatal crashes.

SpiceJet Ltd. is one of the world’s biggest customers for the 737 Max jets.

10. Pizzas Vs Burgers

Indians ordered more pizzas than burgers during the pandemic even as Asia’s third-largest economy gradually reopened businesses after one of the strictest Covid-19 lockdowns in the world.

Demand, however, was driven by online orders.

Also Read: Turkish Tea And Other Perks Of Working With Your Spouse

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