Pioneering digital payments firm PayPal has said it will no longer be part of an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators.

"PayPal has made the decision to forgo further participation in the Libra Association at this time," the California-based company said on Friday.

The country’s two premier e-commerce firms claimed top spot with their own set of numbers in mega festival season sales.

Even as the six-day flagship festive sale is coming to an end Friday midnight, Amazon and Flipkart said more than half their growth during this period came from new customers, especially those in smaller cities and towns.

Welcoming the 25 basis points rate cut-fifth in a row and to a decadal low of 5.15 per cent on Friday, bankers are expecting 25-40 bps more reduction through the course of the fiscal year, given the Reserve Bank of India (RBI) focus on growth that has been sagging for months now.

HDFC Bank Chief Economist and Executive Vice-President Abheek Barua said though the latest rate cut was on expected lines, the market was disappointed as they were expecting a larger cut.

ITC may not have to increase cigarette prices for the rest of the ongoing fiscal year after reaping the benefits of a cut in corporation tax rates and the ban on vaping in the country.

According to a report from Morgan Stanley, after the Centre announced a reduction in corporation tax rates from 30 per cent to 22 per cent, it doesn’t expect ITC to hike cigarette prices as the firm, is likely to be one of the biggest beneficiaries of the cut.

Leading infra companies Larsen & Toubro (L&T) and Afcons Infrastructure are among 13 firms vying for the development of the Rs 5,877-crore Gorakhpur Link Expressway project. The Expressway will directly link Gorakhpur, the home turf of chief minister Yogi Adityanath, with the under-construction Purvanchal Expressway.

Shares of Coal India Ltd fell by 3.4% on Thursday after the company reported a poor set of production numbers. Production shrank 23% in September, hampered by floods and rains. That has continued to keep a lid on its stock price, despite what appears to be an inexpensive valuation.

The recent reduction of gas prices by the central government would lead to state-owned Oil and Natural Gas Corporation (ONGC) lose Rs 1,460 crore revenue from its gas business, rating agency Moody’s said on Thursday. The decline is equal to 0.3% of ONGC’s expected consolidated revenue and around 2% of consolidated earnings before interest, tax, depreciation and amortisation for FY20.

Telangana will embark on a large-scale programme to deliver blood and transport of medical samples via drones. The initiative is co-designed with the World Economic Forum and Healthnet Global Limited, an Apollo Hospitals Group company.

The Reserve Bank of India (RBI) today cut its benchmark interest rates (repo rate) for the fifth time this year to boost economic growth. The RBI today cut repo rate by 25 basis points to 5.15%, which takes its cumulative cuts so far this year to 135 bps. The RBI also cut its GDP growth estimates to 6.1%, from earlier estimate of 6.9%.

TVS Motor Company on Friday announced the new TVS Apache RTR 200 4V with Bluetooth-enabled SmartXonnect mobile application technology.

The motorcycle will be equipped with a connected cluster and a gold finish racing chain, it said in a statement.

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