A look at the headlines in the sector right now:

  1. 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.   
  2. 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.
  3. 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.      
  4. 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. 
  5. 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.   
  6. 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.
  7. 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.