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Top News of Oct 20: Higher salaries to make a comeback; Morgan Stanley predicts world's 1st trillionaire and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

Top News of Oct 20: Higher salaries to make a comeback; Morgan Stanley predicts world's 1st trillionaire and more
Higher salaries in India are making a comeback with 9.3 percent hike being expected in 2022, from 8 percent in 2021. The Central government on Wednesday issued revised guidelines for international travellers visiting India. The world may see its first modern trillionaire in Elon Musk, predicts Morgan Stanley. For all these stories and everything in between, here are some top news of the day
HDFC Bank expects to reach pre-COVID numbers by Q3FY22
As the economy tries to move on from the COVID-19 pandemic, things are looking brighter and HDFC Bank believes that by the next quarter it shall reach pre-pandemic numbers by the next quarter. Read more
Jio adds more subscribers than Airtel
Reliance Jio continued to outpace rivals in terms of subscriber gains. It added 6 lakh users, in August, whereas Bharti Airtel onboarded over 1 lakh users. With this, Jio's total subscriber count swelled to over 44 crore and Airtel stood at over 35 crore. Read more
India expected to see higher salary with 9.3% hike in 2022
Higher salaries in India are making a comeback with 9.3 percent hike being expected in 2022, from 8 percent in 2021, and with companies planning to give employees larger raises as they face mounting challenges of attracting and retaining employees. Read on

MARKETS
Earnings growth strong in India: Wells Fargo
India is in very good shape at the moment and I expect this to continue, said Gary Schlossberg of Wells Fargo in an interview with India. Rates may move up, creating some headwinds, but for now, fundamentals seem to be in India's favour, he said. Dig deeper
IRCTC off the rails
IRCTC shares crashed 20 percent during session Wednesday, extending Wednesday's losses. The stock has corrected over 22 percent in two sessions. Dig deeper
Midcaps take a back seat
The Nifty Midcap index showed the worst performance since June 18, 2021 -- losing 3 percent in two consecutive sessions, dragged by the likes of IRCTC, Deepak Nitrite, and Dixon Tech. Dig deeper

INDIA
New guidelines for international travellers visiting India
The Central government on Wednesday issued revised guidelines for international travellers visiting India. The revised guidelines will come into effect from October 25. Check details
Uttarakhand floods: Over 1,300 people rescued so far
The National Disaster Response Force (NDRF) has rescued more than 1,300 people from flood-affected areas of Uttarakhand and has enhanced its rescue teams from 15 to 17. Continue Reading
PM Modi hails decision on Air India 
With Air India set to be acquired by the Tata Group, Prime Minister Narendra Modi on Wednesday said the decision on the national carrier will give new energy to the country's aviation sector. His comments come weeks after Tata group emerged as the winning bidder for Air India paving the way for disinvestment of the loss-making carrier. Continue Reading
World
US, India, Israel and UAE come together to form 'New Quad'
The quadrilateral forum of Israel, the United Arab Emirates, the United States and India has been dubbed the 'New Quad.'The group is intended as an "international economic forum" that will work on furthering the economic and political ties between the four countries. Read on
Elon Musk could be world's first trillionaire
The world may see its first modern trillionaire in Elon Musk, predicts Morgan Stanley. The eccentric billionaire has seen his net worth balloon over the past two years as Tesla shares rode a red hot bull rally. Continue Reading
Britain fines Facebook $70 million; here's why 
Britain's competition regulator has fined Facebook 50.5 million pounds (USD 69.6 million) for breaching an order imposed during its investigation into the US social media giant's purchase of GIF platform Giphy, the agency said on Wednesday. Continue Reading
YOU & I
BMW to launch carbon edition tomorrow
BMW, the German auto giant, will unveil Carbon edition for five of its cars Thursday. The cars are expected to feature the same engine, but they will be paired with an eight-speed Steptronic sport automatic gearbox. Details here
iPhone only for Rs 38,000? A reality!
iPhone is offering big discounts to customers in Flipkart's Diwali sale, with iPhone 12 Mini priced at Rs 38,250. Check details
Ola Electric scooter deliveries from November
Ola Electric had committed to begin deliveries of its electric scooter and offer test drives from October 2021. That plan, however, has run into delays and is also likely to affect the company's next phase of sales. Continue Reading
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