A look at the headlines in the sector right now:
- Indian markets rise in afternoon session to close at record highs: The top gainers on the Sensex were BHEL, Cipla, Maruti Suzuki, Axis Bank and Bajaj Auto.
- For the first time, Asia is home to more billionaires than the United States, says report: The US billionaires are, however, wealthier than the ones in Asia, owning combined assets worth $2.8 trillion.
- Three women engineers sue Uber for unequal pay, race and gender discrimination, says report: The lawsuit said the company pays women and people of colour less and doesn’t promote them as frequently as men, whites and Asians.
- Reliance Nippon Life’s IPO gets subscribed 4.93 times on Day 2: On Day 1 on Wednesday, the initial public offer got fully subscribed within a minute.
- Hindustan Unilever Limited posts 16.4% rise in net profit for July-September: The wholesale trade, which saw a hit early in the quarter because of the Goods and Services Tax, is now ‘steadily normalising’, the company said.
- Ikea apologises and pulls down ad in China after some called it sexist: Users on social media website Weibo had objected to a scene in the advertisement, calling it discriminatory against young unmarried women.
- Diesel joins top brands in dropping photographer Terry Richardson over sexual harassment claims: Fashion houses Valentino and Bulgari and publisher Condé Nast have banned Richardson over allegations of sexual harassment against him.