A look at the headlines in this sector right now:

  1. Mumbai ranked 21st, ahead of Toronto and Washington in City Wealth Index list, says Knight Frank report: The ‘ultra-high-net-worth individuals’ in India rose by 290% in the past ten years, the real estate firm said.
  2. Uber CEO Travis Kalanick apologises after video showing him in a fight with a company driver goes viral: To say that I am ashamed is an extreme understatement, he wrote in an email to his employees.
  3. Donald Trump proposes ‘merit-based’ immigration system: It has succeeded in countries like Canada and Australia, said the United States president.
  4. China plans to sack five lakh people in heavy industries sector in 2017: This is part of Beijing’s plan to eliminate 1.8 million jobs in steel and coal industries over a few years to support other sectors in services or internet-related businesses
  5. Penguin Random House lands book deals with Barack and Michelle Obama after publishers’ auction: The value of the agreements has not been disclosed, but is speculated to be ‘well into eight figures’.
  6. Narendra Modi mocks economists, praises demonetisation after favourable GDP projections: The prime minister said the people of the state have already voted for the BJP in the first five phases of the elections.
  7. Sensex closes up 241 points on positive GDP cues: The National Stock Exchange Nifty gained 0.8% approaching the 9,000 mark on Wednesday.