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News wrap Dec 10: US inflation highest since 1982; PM Modi bats for global efforts for cryptocurrency norms; incentive for chipmakers and more

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News wrap Dec 10: Here are the top news from the world of business, economics, politics and more, handcrafted for you by the CNBC-TV18.com team

News wrap Dec 10: US inflation highest since 1982; PM Modi bats for global efforts for cryptocurrency norms; incentive for chipmakers and more
US consumer inflation jumped 6.8 percent in November compared to the same period last year, which is the most since 1982. Meanwhile, in India, Prime Minister Narendra Modi called for united efforts to shape global norms for emerging technologies like social media and cryptocurrencies. Chief of Defence Staff General Bipin Rawat who lost his life in a chopper crash last week was cremated with full military hours. The government has prepared a Rs 76,000 crore incentive programme to attract chipset makers. Here are some top news of the day.
ECONOMY/BUSINESS
US inflation surges 6.8% in November, highest since 1982
Prices for US consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982. Dig deeper
Govt prepares incentive program for chipmakers
The government has prepared a Rs 76,000 crore incentive programme to attract chipset makers. This incentive programme would need Cabinet approval and would be tabled and approved before December 31. Read more
Markets pricing 125 bps hike in rates
Markets are pricing around 125 basis points of a rate hike from now to 2024, James Sullivan of JPMorgan told CNBC-TV18 in an interview. As inflation fears rise, the US Federal Reserve is expected to begin tightening the monetary policy. Read more

MARKETS
Big Bull-backed Star Health's stock recovers after a weak debut
Ace investor Rakesh Jhunjhunwala-backed Star Health shares debuted at a discount of 6 percent at Rs 848. However, the stock gained momentum and surged over 6 percent during the session. Read more
Bajaj Electricals shares rally 11%
Bajaj Electricals' share price jumped as much as 11 percent on Friday as the company's board of directors has authorised the management to review the corporate structure. Read more
Edelweiss raises ITC's target price
ITC gained Thursday after the company announced holding its first investor meet on December 14. Abneesh Roy of Edelweiss Securities sees more momentum in the stock in the near term. Check target price here

INDIA
CDS General Bipin Rawat cremated with full military honours; experts discuss his legacy
A 17-gun salute, a spontaneous outpouring of love and respect from civilians at the 10 kilometre long funeral procession amidst slogans of 'Bharat Mata Ki Jai' - the funeral of chief of defence staff Bipin Rawat, was a fitting tribute to India's first CDS. Read more
How government can protect farmers through MSP; experts discuss
The 15-month long agitation by farmers on the borders of Delhi is coming to an end. However, the letter from agricultural secretary to farmers reiterates that the existing system of MSP-based procurement will continue for now. Experts decoded how the government can protect farmers through MSP. Click crhere to find out
PM Modi bats for joint efforts to shape global norms for social media, cryptocurrencies
Prime Minister Narendra Modi called for united efforts to shape global norms for emerging technologies like social media and cryptocurrencies so that they are used to "empower" democracy and not to "undermine" it. Read more

INTERNATIONAL
From teacher to shoe shiner: Afghan economic crisis spares few
The abrupt withdrawal of foreign aid following the Taliban victory has sent Afghanistan's fragile economy into freefall, leaving millions facing hunger and making once well-off middle-class families destitute. Read more
Joe Biden urges countries to protect democracies across the world
Speaking at Democracy Summit, Joe Biden said, democracies don't happen by accident, they need to be renewed each year. He also spoke about challenges to democracies from autocracies. Check what experts make of his remarks
Elon Musk ponders career change
Elon Musk is no stranger to making proclamations on social media. But the latest post by the tech billionaire has him asking Twitter users if he should quit all his jobs to become an influencer instead. Check out his next move

YOU & I
Amazon Pay Later vs Paytm Postpaid
Even though most BNPL schemes waive off the processing fees for the customers, they levy a penalty for defaults or missed payments. When opting for these schemes, shoppers should, therefore, be aware of the fees and other charges associated with these. Read more
Looking to extend credit limit on buy now pay later platforms?
Buy Now Pay Later (BNPL) has witnessed a tremendous uptick over the last 18-24 months. Thanks to digital KYC and underwriting models, BNPL is able to offer a speedy checkout process and access to an instant line of credit for customers. But, here’s what you need to bear in mind
How diversification of portfolio helps in getting balanced returns?
They say “Don’t keep all your eggs in one basket”; which means that if due to an accident, two of you baskets break, you will still have a few eggs held safely in your 3rd and 4th baskets, helping you make your omelette and not sleep hungry. The same is true about investments. Here's how
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