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ByteDance, the parent company of TikTok, is planning a new employee share buyback, valuing the company at over $330 billion. This decision follows a 25% year-on-year surge in second-quarter sales, reaching approximately $48 billion, primarily driven by its China business. The buyback offers employees liquidity without an IPO, highlighting ByteDance's financial strength.
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News and Media
Silver prices in New Delhi hit a record high of 1,20,000 per kilogram. This surge happened as investors sought safe-haven assets. The US tariff on Indian products has taken effect. Gold prices also increased, reaching 1,01,270 per 10 grams. Political uncertainty after Donald Trump's dismissal of Lisa Cook, a Federal Reserve Governor, further fueled the rise in prices.
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News and Media
Reserve Bank of India will meet with industry leaders to discuss the impact of US tariffs. The consultation is planned for September. It will assess how the 50% tariffs affect various sectors. Labour-intensive industries may face significant challenges. The meeting will also cover the India-UK trade agreement. RBI aims to cushion the economy from the fallout.
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News and Media
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