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Under60 Daily | 01 September 2020

Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.


[Private Equity] US-based Private Equity giant KKR has agreed to purchase a 37.5% stake in Italy's' Telecom Italia's secondary network (landline cables).

Over60: Yahoo! Finance

[Manufacturing] India's Purchasing Managers' Index (PMI) rose from 46 in July to 52** in August, demonstrating improving manufacturing volumes as the economy reopens from lockdowns.

Over60: Bloomberg Quint

** A PMI above 50 is considered favorable and is a sign of expansion in the manufacturing sector.

[Automobiles] Tesla announces that it will sell nearly $5 billion of its shares to strengthen its balance sheet and for general corporate purposes. Tesla's shares have risen by almost 500% in 2020 on a stock-split adjusted basis.

Over60: Yahoo! Finance

[Economy] The Eurozone has experienced deflation for the first time since 2016. Consumer prices dropped by 0.2% in August compared to a 0.4% increase in July.

Over60: FT, Yahoo! Finance

[Telecommunications] The Supreme Court of India has directed telecom companies to repay Adjusted Gross Revenue (AGR) dues to the Government in staggered payments over a span of 10 years. The companies are also required to pay 10% of dues upfront.

Over60: Moneycontrol

[Currencies] The US Dollar Index slipped by 0.3% on Tuesday morning, marking a 10% loss in value from March highs. Pressure on the currency has increased since the Fed adopted its new accommodative stance on inflation last week.

Over60: FT Exclusive


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