Saudi Arabia’s Public Investment Fund invests ₹9,555 crore in Reliance Retail

PIF will take a 2.04% stake in RRVL

Billionaire Mukesh Ambani-led Reliance Industries Ltd’s retail arm on Thursday raised ₹9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in last two months to ₹47,265 crore.

PIF will take a 2.04% stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement.

The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of ₹4.58 lakh crore.

Marshmello's monster truck wrecks during California police chase

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Easiest “be on the lookout” alert ever?

A suspected car thief behind the wheel of a custom six-wheel pickup led police on a chase through the San Fernando Valley area on Wednesday night before the truck decided to turn itself in … by not turning too well.

The modified Ford was built by The Diesel Brothers of Discovery Channel fame and belonged to superstar DJ Marshmello. According to CBS 2, Marshmello’s manager had dropped it off for servicing at a garage in Van Nuys from where the $350,000 truck was allegedly stolen by a suspect who arrived on a bicycle.

Cops spotted it a few hours later in Malibu and pursued it down the 101 highway and into North Hollywood, unsuccessfully attempting to stop it with a pit maneuver and spike strip along the way. The driver then drove it through a Taco Bell parking lot and made a too-wide turn into a light pole and gave up as a TV helicopter captured the moment on camera.

GPS TRACKER LEADS POLICE TO SEMI FULL OF STOLEN CARS

The suspect, whose name has not been released, was arrested without incident, but police say he may have been under the influence of drugs or alcohol.

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Demand for contractual, gig staff jumps 30%: Quess

Further boost as jobs get ‘variabilised’

The demand for contractual employees and specialised gig workers has increased 30% compared with last year. This is expected to increase further as employers ‘variabilise’ their headcount and focus on outcome-driven programmes, said leading business services provider Quess Corp. The firm unveiled a dedicated platform, QJobs, for blue collar jobs on Thursday.

QJobs aims to address the issues of job creation, job discoverability and job-matching by providing a comprehensive solution that allows employers to find the right talent. It will allow job-seekers to showcase their skills and find employment closer to their location, the company said.

“Quess is taking the next big step in realising its larger agenda of putting Middle India to work, Ajit Isaac, CMD, Quess Corp, sai,. “In doing so, the company’s mandate is focused on providing dignity and social security to millions of lower income jobs in the country,” he added. To start with, the app will support five languages: Hindi, English, Tamil, Kannada and Telugu.

Medicare Part B premiums will rise by 2.7% in 2021

• The $3.90 increase is 2.7% more than the 2020 figure of $144.60.
• The deductible for Part B will be $203 next year, up $5 from $198 in 2020.

The standard monthly premium for Medicare Part B will be $148.50 in 2021, officials announced Friday.

The $3.90 increase is 2.7% more than the 2020 figure of $144.60, according to information released by the Centers for Medicare and Medicaid Services.

The deductible for Part B, which covers outpatient care, durable equipment and some other services, will be $203 next year, up $5 from $198 in 2020.

Meanwhile, the deductible for Medicare Part A (hospital coverage), which is per benefit period (which generally starts when you are admitted to the hospital) will be $1,484 in 2021, up $76 from this year's $1,408.

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Canadian Jobs Recovery Fizzles in October on Renewed Closures

Canada’s economy added just 83,600 jobs in October, the fewest since April, as the country suffers through a second wave of coronavirus cases and fresh lockdowns.

The numbers mark a sharp deceleration from 378,000 jobs added in September, and average monthly employment gains of 395,000 since the recovery began in May. Economists were expecting a gain of 75,000 jobs.

Canada’s unemployment rate fell to 8.9%, from 9% in September.

Rising Covid-19 cases prompted authorities to close businesses again in major metro areas like Montreal, Toronto and Ottawa, causing a new wave of job losses in affected industries.

The labor market has recovered 2.4 million, or 79%, of the 3 million positions lost during March and April.

— With assistance by Erik Hertzberg

Georgia’s Bourdeaux Elected to U.S. House; Democratic Pickup

Democrat and educator Carolyn Bourdeaux beat Republican emergency-room doctor Rich McCormick in the Georgia House race to succeed retiring GOP Representative Rob Woodall, the Associated Press projects.

Democrats targeted the suburban Atlanta seat in Georgia’s seventh congressional district as a pickup opportunity after Bourdeaux narrowly lost to Woodall in 2018.

— With assistance by Elizabeth Elkin

China End-Oct. Forex Reserves at $3.128 Trillion; Est. $3.143T

China’s foreign exchange reserves fell to about $3.128 trillion at the end of October from $3.143 trillion as of end-Sept., according to data from the People’s Bank of China.

• The median estimate was $3.143 trillion, with forecasts from 15 economists ranging from $3.13 trillion to $3.165 trillion
• End-Oct. forex reserves fell $14.58 billion from end-Sept.: Bloomberg calculations
• End-Oct. gold reserves at 62.64 million fine troy ounces vs 62.64 million fine troy ounces at end-Sept.
• End-Oct. gold reserves in U.S. dollar value at $117.886 billion; End-Sept. at $118.2 billion

— With assistance by John Liu, and Lin Zhu