#AIADMK General Secretary Edappadi K Palaniswami chaired a party meet of key office-bearers, including the district secretaries and MLAs on Monday.

In the meet, AIADMK passed a resolution to break off from the #BJP-led National Democratic Alliance (NDA).

Read here: https://www.livemint.com/politics/aiadmk-breaks-off-from-bjp-led-nda-to-lead-separate-front-for-2024-lok-sabha-polls-11695643568789.html

#MintCharts | After the #RussiaUkraineWar, food prices were already rising, including that of rice. Moreover, low production of rice last year, worsened further by the #ElNino this year, has led to further increase in prices.

According to the Food and Agriculture Organization’s monthly All Rice Index, prices have surged in recent months and hit a 15-year high in nominal terms in August.

Starting today, Mint Plain Facts will bring out a monthly update on key global economic data. Watch out for our next round-up!

E-commerce giant #Amazon has agreed to invest as much as $4 billion in #Anthropic, an #AI startup, for a minority stake, in an effort to become a major player in generative artificial intelligence.

Read more: https://www.livemint.com/companies/news/amazon-to-invest-up-to-4-billion-for-minority-stake-in-ai-startup-anthropic-11695654237083.html

#PersonalFinance | The tax sops offered by the government act as subsidies that considerably bring down the effective interest you pay on the loan taken for property purchase, making real estate an attractive investment for some people.

Read more: https://www.livemint.com/money/personal-finance/tax-breaks-on-real-estate-a-boon-for-homeowners-or-a-trap-for-investors-11695660613601.html#:~:text=The%20tax%20sops%20offered%20by%20the%20government%20act%20as%20subsidies,some%20people%20(see%20graphic)

#PersonalFinance | Corporate #FDs are popular among investors who want fixed returns that are slightly higher than what bank FDs give, even at a slightly higher risk.

However, just like FDs, interest payment on corporate FDs is fully taxable at your income tax slab rate, so factor in the post-tax returns.

Here's a list of corporate FDs that are rated AA & above.

EXCLUSIVE

All eyes are towards External Affairs Minister S Jaishankar's address to the UN General Assembly in New York tomorrow.

He is expected to respond to Canadian Prime Minister Justin Trudeau’s “credible allegations" over Indian involvement in the killing of Pak trained Khalistani terrorist Hardeep Nijjar in June.

Read details here: https://www.read.ht/QVqQ

#SBIMutualFund has promoted DP Singh to the post of Joint CEO, he was earlier the Chief Business Officer.

Read more: https://www.livemint.com/mutual-fund/mf-news/sbi-mutual-fund-promotes-dp-singh-to-joint-ceo-11695716242456.html

Stock broker Zerodha in its recent business update on September 26, continues to be the only broker in India to charge ₹200 to open a demat account.

In its update, Zerodha explains why it has kept the account opening charge at a nominal rate.

https://www.livemint.com/market/stock-market-news/zerodha-only-broker-in-india-to-charge-to-rs-200-to-open-a-demat-account-heres-why-11695722451194.html

IT major #Infosys announced that it is collaborating with #Microsoft to jointly develop industry-leading solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services.

Read here: https://www.livemint.com/industry/infotech/infosys-collaborates-with-microsoft-to-accelerate-and-democratize-industry-wide-adoption-of-generative-a-11695728678066.html

External Affairs Minister Jaishankar has taken a veiled attack on Canada at the #UNGA amid India's row with the country over the killing of Khalistani terrorist #HardeepSinghNijjar, saying “political convenience determines responses to terrorism, extremism, and violence".

Read here: https://www.livemint.com/politics/political-convenience-determines-responses-to-terrorism-jaishankars-veiled-attack-on-canada-at-unga-11695735342946.html

The government has approved the re-appointment of M Rajeshwar Rao as Deputy Governor of Reserve Bank for a period of one year with effect from October 9, 2023.

Read here: https://www.livemint.com/industry/banking/rbi-deputy-governor-m-rajeshwar-rao-gets-one-year-term-extension-11695739228882.html

In a new transition of roles, #OgilvyIndia announced that #PiyushPandey has stepped down from the post of chairman global creative and executive chairman and has been replaced by VR Rajesh.

The new change will come into effect from 1 January 2024.

Read more: https://www.livemint.com/industry/advertising/piyush-pandey-end-of-a-legendary-inning-11695755786910.html

#Byju’s plans to fire as many as 4,000 employees in the latest round of layoffs, according to people familiar with the development.

The move comes within days of the appointment of Arjun Mohan as the company’s new chief executive officer for India.

Read more: https://www.livemint.com/companies/start-ups/byjus-plans-to-cut-4-000-staff-after-ceo-change-11695752257127.html

#MintCharts | India had an estimated 6.6 million frontline workers in 2022-23, down 17.5% from 2021-22, said a new Frontline Index 2023 report released by BetterPlace, a workforce SaaS platform. The fall in frontline jobs was driven primarily by the #ecommerce sector. While e-commerce comprised 70% of the frontline workforce in 2021-22, its share was just 33% in 2022-23.

#PersonalFinance | Industry experts have a word of caution for retail investors. They warn that a combination of financial strategies, market manipulation, and information dissemination can impact stock valuations.

Read more: https://www.livemint.com/money/personal-finance/initial-public-offerings-why-retail-investors-should-be-wary-of-smes-11695740716077.html#:~:text=There%20is%20a%20time%20lag,heavy%20losses%20to%20retail%20customers

#PersonalFinance | Building a portfolio is a complex exercise, and it has to be maintained too. A person's portfolio holds different types of assets based on her financial goals, and each asset gives different types of returns, which is why portfolio must have an ideal mix of financial products.

Here's a look at how four commonly used asset types- equity, cash, gold and fixed income-have done in different periods.

#WritersStrike | Hollywood's writers union declared the end of the strike that began in May, allowing its members to return to work today while they consider a proposed three-year deal that would involve pay raises, some protections around use of artificial intelligence along with some other gains.

Read more: https://www.livemint.com/news/hollywood-writers-union-ends-strike-with-pay-raises-protections-over-ai-use-among-other-gains-11695781258107.html

Out of 64 economies, #India has slipped four spots to 56th position, compared to its 52nd position in 2022, in the 2023 World Talent Ranking, according to the International Institute for Management Development (IMD) release.

Read here: https://www.livemint.com/economy/india-slips-4-spots-to-56th-position-in-2023-world-talent-ranking-imd-11695810622395.html

Veteran investor #MarkMobius of Mobius Capital Partners' has said that India is the place to be when it comes to emerging markets (EM) investing.

According to a report by CNBC-TV18, Mobius said that it does not make sense to reduce weightage on India and that the country has terrific investment opportunities.

Read here: https://www.livemint.com/market/stock-market-news/india-has-terrific-em-investing-opportunities-doesnt-make-sense-to-reduce-weightage-mark-mobius-11695819658957.html

Cipla in advanced talks with 2 groups | Diamond industry grapples with major slump in demand | Pre-poll budget meetings to weigh food, fertilizer sops

Read today's Mint e-paper here: https://epaper.livemint.com

#MintCharts | Until August, foreign portfolio investors had remained net buyers of Indian equities for six months. But this month so far, they have offloaded shares worth over ₹10,000 crore as US #bonds, with their rising yields, have become a more lucrative option.

Market analysts believe that uncertain global cues and the sharp surge in US bond yields will keep sentiments on the edge in the near term.