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<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.gettyimages.com/detail/news-photo/wal-mart-greeter-waits-to-welcome-new-customers-to-the-new-news-photo/57636625">J.D. Pooley / Getty Images</a></span></p><p class="caption">Wal-Mart is bringing back greeters.</p></div><p></p></div></div>Wal-Mart's theft problem is getting worse.</p><p>Wal-Mart US President Greg Foran said Tuesday that theft, which the company calls shrinkage, is one of three major factors behind the retailer's drop in profit in the most recent quarter.</p><p>"Inventory shrinkage was meaningfully higher than planned for the quarter," Foran said in an earnings call.</p><p><span style="line-height: 1.5em;">Wal-Mart </span><span style="line-height: 1.5em;"><a href="http://www.businessinsider.com/theft-is-a-huge-problem-for-wal-mart-2015-6">likely loses about 1% of its US revenue</a> - or roughly $3 billion dollars every year - to stealing by customers and employees</span><span style="line-height: 1.5em;">. </span></p><p>The other factors contributing to Wal-Mart's profit decline are a drop in gross margin, primarily related to lower than expected pharmacy reimbursements, and higher wages, Foran said.</p><p>"I want to be straightforward: These issues will present continuing profit challenges for the remainder of the year," he said. "We are certainly disappointed. But we are not standing still. We know we can do better, and we will."</p><p>Wal-Mart's profit fell to $3.48 billion, or $1.08 a share, in the quarter ending July 31, from $4.09 billion, or $1.26 a share, a year earlier, the company reported Tuesday.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Wal-Mart recently brought back employees known as "greeters" to its store entrances to help combat its theft problems.</p><p>The company also added a fleet of "asset-protection customer specialists," who will check receipts as shoppers leave, <a href="http://www.wsj.com/articles/wal-mart-ushers-greeters-back-to-the-front-1434651944">The Wall Street Journal reported.</a></p><p><span>Wal-Mart is testing the added door presence in 300 of its 4,500 US stores.</span></p><p>The company is also "reviewing the end-to-end inventory management process with a special focus on shrinkage" and increasing staffing in areas of the store where theft is most common, Foran said.</p><p>"But it will take time to see results, so this will impact us... for the rest of the year," he said.</p><p>In an earnings call earlier this year, Foran said half of the theft at Wal-Mart occurs in the food departments.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/victorias-secret-mistake-losing-customers-plus-sizes-2015-5">Victoria's Secret is making one mistake that is driving away a lot of women</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="llMGh2dDrrj4WAYxUAwPN6kOTorsTptK" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

One alarming reason why Wal-Mart's profit is down

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Wal-Mart is bringing back employees known as "greeters" to its store entrances. </p><p>The company is also adding a fleet of "asset protection customer specialists," who will check receipts as shoppers leave, <a href="http://www.wsj.com/articles/wal-mart-ushers-greeters-back-to-the-front-1434651944">The Wall Street Journal reports</a>. </p><p><span>Wal-Mart is testing the added door presence in 300 of its 4,500 US stores, according to the report.</span></p><p>The changes are meant to deter theft and improve customer service. </p><p>Theft is a huge problem for Wal-Mart. The company <span style="line-height: 1.5em;">likely loses about 1% of its US revenue - or roughly $3 billion dollars every year - to stealing by customers and employees, </span><a href="http://www.reuters.com/article/2015/06/04/us-wal-mart-stores-theft-idUSKBN0OK2NQ20150604">Reuters reports</a><span style="line-height: 1.5em;">. </span></p><p><span style="line-height: 1.5em;">Wal-Mart US chief Greg Foran recently said that the company is making a renewed push to reduce theft.</span></p><p>"One percent of $300 billion is quite a lot of money. If you can save 10 basis points [or 0.1%] of it - boy I'll take it every day of the week and put it into lower prices for customers," Foran told Reuters. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div>The losses could come from stealing or mistakes in recording inventory, he said.</p><p>In an earnings call last month, Foran blamed a decline in gross profit margins on theft, which the company calls "shrink," Reuters notes. He said half of the theft occurred in the food departments.</p><p><span style="line-height: 1.5em;">"In the first quarter, gross profit rate declined 13 basis points, driven primarily by a headwind from shrink, half of which was in food," he said, according to a </span><a href="http://seekingalpha.com/article/3195726-wal-mart-stores-wmt-ceo-doug-mcmillon-on-q1-2016-results-earnings-call-transcript?part=single">transcript</a><span style="line-height: 1.5em;">. "We are addressing this increase immediately, bringing a high level of focus and visibility to this concern by adding it as a key urgent agenda item this year."</span></p><p>Wal-Mart is also make a big push to improve customer service. </p><p>The company removed greeters from entrances three years ago so they could help direct shoppers and restock shelves, according to the Journal.</p><p>Wal-Mart hopes the increased presence at store entrances will make the stores friendlier. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/victorias-secret-mistake-losing-customers-plus-sizes-2015-5">Victoria's Secret is making one mistake that is driving away a lot of women</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="llMGh2dDrrj4WAYxUAwPN6kOTorsTptK" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

One ominous reason why Wal-Mart is bringing back greeters

<p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span><a href="http://www.gettyimages.com/detail/news-photo/wal-mart-greeter-waits-to-welcome-new-customers-to-the-new-news-photo/57636625">J.D. Pooley / Getty Images</a></span></p></div><p></p></div></div>Wal-Mart is often targeted by labor activists for its low wages, but new data suggests that Starbucks pays its workers even less.</p>
<p>Wal-Mart's sales associates earn an average of $8.86 an hour, which is six cents more than Starbucks baristas' hourly pay, according to a report by the National Bureau of Economic Research. </p>
<p>The pay gap is greater when it comes to the retailers' management positions. Wal-Mart's assistant managers make an average of $43,916 annually, for example, while Starbucks' assistant managers make roughly $33,634 a year. <a href="http://www.fool.com/investing/general/2014/08/03/surprisingly-starbucks-pays-some-of-its-employees.aspx"><br /></a></p>
<p>The authors of the 47-page report point out, however, that Starbucks' stores are much smaller than Wal-Mart's. The data also excludes benefits, such as Starbucks' College Achievement Plan, which helps workers pay for a college degree. <a href="http://www.fool.com/investing/general/2014/08/03/surprisingly-starbucks-pays-some-of-its-employees.aspx">The Motley Fool</a><span> first reported on the data. </span></p>
<p><span style="line-height: 1.5em;">Here's the wage data from the report: </span></p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>National Bureau of Economic Research</span></p></div><p></p></div></div></p>

Wal-Mart Pays Its Managers More Than Starbucks Does

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Wal-Mart abruptly <a href="http://www.businessinsider.com/wal-mart-suddenly-closes-stores-2015-4">closed five stores </a>earlier this month and laid off more than 2,200 employees in the process.</p><p><span style="line-height: 1.5em;">The company said it closed the stores due to severe plumbing problems that, in addition to other potential upgrades, could take approximately six months to fix. </span></p><p>Critics have questioned the closures, with some claiming that at least one store was closed <a href="http://www.businessinsider.com/heres-why-wal-mart-employees-say-the-retailer-mysteriously-closed-5-stores-2015-4">in retaliation against worker protests for higher pay</a>. <span style="line-height: 1.5em;">Wal-Mart denies those claims.</span></p><p>Wal-Mart notified workers of the closures a couple hours ahead of time and gave them a packet of information addressing the situation, according to a OUR Walmart, a labor group representing the laid-off workers.</p><p>In the handout, the company offers workers "stress management tips" to cope with their loss of employment such as avoiding caffeine, chocolate, nicotine, and alcohol.</p><p>"Care for yourself by eating well, exercising, and resting when needed," Wal-Mart advises, according to photos of the handout provided to Business Insider by OUR Walmart. (<a href="http://gawker.com/walmarts-advice-to-2-200-laid-off-workers-dont-eat-cho-1700693991">Gawker</a> first reported on the handout).</p><p>The handout also encourages workers to seek help from a professional counselor and assures that "difficulty sleeping, nightmares, flashbacks, and feelings of being 'hyper-alert' are common and will diminish in time."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><span style="line-height: 1.5em;">The company sheds more light on the plumbing issues in a question-and-answer section of the handout.</span></p><p>"Did these plumbing issues create a healthy or safety concern for customers and associates?" the handout reads. "No. These incidents impact the availability of water and create drainage issues for critical areas of the store, such as the deli sections, which impact our ability to serve customers."</p><p>The company says it plans to reopen the stores and that employees are welcome to apply for positions at other stores. In the meantime, it will provide workers with resume building services, interview coaching and two months of severance pay. </p><p>"The store has a strong customer base and is part of the reason we have made the decision to invest in improving the store," the handout says. "We plan to reopen once the improvements are completed."</p><p>We reached out to Wal-Mart for comment on the handout and will update when we hear back. </p><p>In a statement to <a href="http://consumerist.com/2015/04/28/walmart-reiterates-5-simultaneous-store-closures-were-due-to-non-urgent-plumbing-problem/">Consumerist</a>, a Wal-Mart spokesman said:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/container-ships-collide-suez-canal-egypt-2015-3">Watch these giant container ships collide near the Suez Canal</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="E4MDQ2dDq9xjV9qTP2lvmq2AeTRu-HAW" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Wal-Mart laid off 2,200 workers, then told them to avoid chocolate and alcohol

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>A fictional presidential candidate in "<a href="http://businessinsider.com/category/house-of-cards">House of Cards</a>" gives this rousing campaign speech about Wal-Mart:</p><p style="padding-left: 30px;"><span>"The starting salary for an employee at Walmart is below the poverty line. <em>[crowd groans, boos]</em></span></p><p style="padding-left: 30px;"><span>"Now, the American government subsidizes Walmart to the tune of $7.8 billion a year by issuing food stamps to over one in ten of its workers. But here's the scary part. Fifteen percent of all food stamps are actually used at Walmart. Meaning Walmart gets to double dip into the federal government's coffers. [<em>crowd booing]</em></span></p><p style="padding-left: 30px;"><span>"I'm as angry about it as you are. Because Walmart's top executives have reaped almost 300 million in tax-deductible performance pay over the last six years. That needs to stop! [<em>cheering]</em></span></p><p style="padding-left: 30px;"><span>"We need to raise the minimum wage! [<em>cheering] </em>Cut down on corporate greed by regulating bonuses! <em>[cheering]</em> It's time to balance the scales."<span></span></span></p><p>While the show is fictional, the facts are real and come largely from a 2014 report from <a href="http://www.americansfortaxfairness.org/files/Walmart-on-Tax-Day-Americans-for-Tax-Fairness-1.pdf">Americans For Tax Fairness</a>.</p><p><span style="line-height: 1.5em;">Wal-Mart's <span>average </span>sales associate makes <a href="http://makingchangeatwalmart.org/factsheet/walmart-watch-fact-sheets/fact-sheet-wages/">$8.81 per hour</a>, according to IBISWorld (Glassdoor puts it at<a href="http://www.glassdoor.com/Hourly-Pay/Walmart-Sales-Associate-Hourly-Pay-E715_D_KO8,23.htm"> $9</a>, Wal-Mart claims it's closer to<a href="http://www.gothamgazette.com/index.php/economy/694-is-wal-mart-worse"> $13</a>). At the company's full-time status of 34 hours a week, that adds up to </span><a href="http://makingchangeatwalmart.org/factsheet/walmart-watch-fact-sheets/fact-sheet-wages/">less than $16,000 a year</a><span style="line-height: 1.5em;">, well below the federal poverty line for a family of four.</span></p><p><span style="line-height: 1.5em;">It is also true that the store is "double-dipping" when it comes to government benefits - i</span><span style="line-height: 1.5em;">n 2014, Wal-Mart collected roughly <a href="http://www.americansfortaxfairness.org/files/Walmart-on-Tax-Day-Americans-for-Tax-Fairness-1.pdf">$13.5 billion</a> in food stamp sales alone.</span></p><p>The total cost to taxpayers of Wal-Mart's low wages and benefits, which force many workers to rely on public assistance programs, has been estimated at around $4,415 per worker, according to<a href="http://www.americansfortaxfairness.org/files/Walmart-on-Tax-Day-Americans-for-Tax-Fairness-1.pdf"> one federal study</a>.</p><p>The store, which is owned by America's richest family, hauled in <span>$16.4 billion in net income last year.</span></p><p><span style="line-height: 1.5em; background-color: #ffffff; color: #000000;">Earlier this month, Wal-Mart announced it would <a href="http://www.businessinsider.com/wal-mart-gives-500000-employees-raise-2015-2">increase its minimum pay</a> to $9 an hour in April and $10 an hour by February 2016. Still, this is less than a living wage, especially if you're a part-time employee - which half of Wal-Mart's employees are. Most work fewer than 30 hours per week, and those who request at least 40 are <a href="http://www.nytimes.com/2015/02/20/business/walmart-raising-wage-to-at-least-9-dollars.html?_r=0">usually denied</a>.</span></p><p><span style="line-height: 1.5em; background-color: #ffffff; color: #000000;">While Wal-Mart's wage bump is a good sign, some think it does not go far enough.</span></p><p><span style="line-height: 1.5em; background-color: #ffffff; color: #000000;">"When compared to the $16 billion in profit that the company rakes in annually," Christine L. Owens, executive director of the National Employment Law Project, told the <a href="http://www.nytimes.com/2015/02/20/business/walmart-raising-wage-to-at-least-9-dollars.html?_r=0">New York Times</a>, "Wal-Mart's promise of $10 an hour - which even for a full-time worker is not enough to keep a family of four out of poverty - is meager."</span></p><p><span style="line-height: 1.5em; background-color: #ffffff; color: #000000;">But don't expect any major presidential candidate to take on America's largest private employer like you see on Netflix.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

'House of Cards' character points out some outrageous true facts about Wal-Mart

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>On Thursday, <a href="http://www.businessinsider.com/wal-mart-gives-500000-employees-raise-2015-2">Wal-Mart announced</a> that it will raise hourly wages for 500,000 employees. </p><p>And in a note to clients on Friday following the news, analysts at Credit Suisse say this move shows Wal-Mart is taking back its leadership role in the <keyword id="6354851" type="ORGANIZATION" weightage="60" keywordseo="Retail">retail</keyword> space. </p><p>The firm writes:</p><p style="padding-left: 60px;">Over the past decade, there have arguably only been two examples where WMT used its scale and industry leadership position to "set the rules": first, by rolling out $4 prescriptions, and second, through its drive for sustainability. <strong>With this unprecedented wage hike, WMT appears to be taking a more active role and re-establishing its leadership position in the retail industry.</strong></p><p>Wal-Mart said Thursday that all hourly wage employees would see wages increased to a minimum of $9 by April and $10 by February 2016. Wages for some managers will also be increased. </p><p>In its <a href="http://www.businessinsider.com/wal-mart-gives-500000-employees-raise-2015-2">earnings release</a>, Wal-Mart said this initiative will cost the company about $1 billion, or about $0.20 per share in earnings this year. </p><p>Wal-Mart's decision, of course, is not just altruistic. The firm is clearly responding to business conditions, and Credit Suisse notes that there could be political motivations at play here, too. </p><p>From Credit Suisse:</p><p style="padding-left: 60px;">We think this is a reasonable business strategy to compete for and retain associates and raise store productivity. <strong>Clearly, WMT has also come under more scrutiny in the political debate over minimum wages and a more inclusive recovery. The company appears to be taking a proactive approach to these issues.</strong></p><p>Credit Suisse wrote in its note that, "As WMT is the largest private employer in the US, its high profile move is likely to force other retailers and the service sector as a whole to react." </p><p>Specifically, Target could see some pressure following Wal-Mart's move, and the firm adds that a number of retailers will indirectly feel pressure from Wal-Mart's move. </p><p>On Thursday, <a href="http://www.businessinsider.com/wal-mart-wage-chart-2015-2">we highlighted the following chart</a> showing the increase in workers quitting jobs in the retail sector. <span style="line-height: 1.5em;">This of course matters to Wal-Mart, but it matters to all the company's peers, too. </span></p><p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div><br /></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nationwide-insurance-industry-loss-ratio-2015-2">Nationwide's Super Bowl commercial about dead children is about corporate profits ... in a way that we can all appreciate</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9rbTk0czrPq8J40cVbMQn_BvP7NgiiIY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Wal-Mart's unprecedented pay hike is proof that the company is committed to dominating retail once again

<ul><li>At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in negative territory on Wednesday, on the back of subdued cues from the global peers. At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50.<br /><br />US stocks slipped on Tuesday, with the S&amp;P 500 and the Dow Jones industrial average trading lower after closing at record highs on Monday, as traders baulk at spiking virus cases. The Dow Jones Industrial Average closed 167 points lower, and the S&amp;P 500 was down 0.48%. <br /><br /><strong>These are the stocks to watch out for during the trading session today:<br /></strong><br /><strong>Lakshmi Vilas Bank<br /></strong><br />On Tuesday evening, the government placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at ₹25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. Meanwhile, the RBI has also placed in the public domain a draft scheme of amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank.<br /><br />The shares of Lakshmi Vilas Bank ended 0.32% lower on Tuesday.<br /><br /><strong>DLF </strong><br /><br />DLF gets listed on Dow Jones Sustainability Indices (DJSI), becoming the only Indian realty firm to be included in the DJSI index. The index recognised DLF based on its record for its governance, social and environmental initiatives. DJSI Emerging Markets Index in 2020 recognised 100 companies across industries in emerging markets like China, Brazil, Hong Kong, Mexico, Chile, Thailand, Taiwan, Colombia, amongst others besides India. <br /><br />The shares of DLF ended 1.4% higher on Tuesday.<br /><br /><strong>Tata Steel<br /></strong><br />HDFC Mutual Funds reduced its stake in Tata Steel from 5.02% to 2.96% on November 12. The shares of Tata Steel ended 6% higher on Tuesday.<br /><br /><strong>Oil and Natural Gas Corp </strong><br /><br />ONGC has signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. <br /><br />The shares of ONGC ended 2% lower on Tuesday.<br /><br /><strong>IIFL Securities <br /></strong><br />The board of IIFL Securities will meet on November 20 to consider the share buyback proposal. <br /><br />The shares of IIFL Securities ended 20% higher on Tuesday.<br /><br /><strong>PTC India <br /></strong><br />Aditya Birla Sun Life Mutual Fund reduced its stake in PTC India from 5.46% to 3.42% on November 12. <br /><br />The shares of PTC India ended 1.3% higher on Tuesday.<br /><br /><strong>IRCTC <br /></strong><br />The Indian Railways operator IRCTC cancelled running of two Tejas Express trains due to low occupancy levels owing to Covid-19.<br /><br />The shares of IRCTC India ended 1.04% lower on Tuesday.<br /><br /><strong>Just Dial <br /></strong><br />In a BSE filing, Just Dial informed investors that the company is pursuing all legal remedies in the Court to counter the allegations filed by Indiamart Intermesh pertaining to the launch of its proposed B2B project – JD Mart. The company also said that JD Mart platform’s development is running as per the planned schedule, and the product demo is already available on the company’s platforms, which will be launched in due course of time after seeking legal recourse, as may be necessary.<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/finance/news/lakshmi-vilas-bank-under-moratorium-rbi-caps-maximum-deposit-or-withdrawal-at-25000/articleshow/79267116.cms" data-type="tilCustomLink">Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000</a><br /><br /></strong><a href="https://www.businessinsider.in/business/startups/news/urban-ladder-was-the-fourth-startup-from-vani-kola-kalaari-capital-portfolio-to-be-sold-to-reliance/articleshow/79264455.cms" data-type="tilCustomLink"><strong>Urban Ladder was the fourth startup from Kalaari Capital’s portfolio to be sold to Reliance – the investment firm’s MD is of the belief ‘selling does not mean sellout’</strong></a><br />

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

The Goa government is working on a new set of SOPs, which will make it mandatory for all hotels in the state to maintain isolation rooms for tourists and guests who test positive for Covid-19, Health Minister Vishwajit Rane said on Wednesday.<br /><br />Rane also said that the state Health Ministry was in the process of upping the daily coronavirus testing quantum to an average of 2,000 tests every day.<br /><br />"We are also bringing new SOPs, so that every hotel will now have to have some isolation rooms. They need to maintain such rooms. Suppose they have some guests, who turns positive, it is their responsibility to isolate them," Rane said, adding that guidelines to the effect would be issued by the Goa government soon.<br /><br />Rane also said that tourists should visit Goa and added that as long as a proper medical system is in place in the state, there was no reason to worry about a spike in the number of Covid-19 cases.<br /><br />The Health Minister also said that his ministry was working towards upping the daily number of Covid-19 tests to 2,000 every day.<br /><br />"We are working on that. Our testing has been a bit up and down, but we want to reach that 2,000 figure," Rane said.<br /><br />Over the last few days, Goa has witnessed a numeric dip in the number of Covid-19 positive cases reported every day, with the tally touching two digits for the first time on November 14. On November 16 and 17, however, Goa reported 125 and 154 positive cases respectively.<br /><br />On an average, between 1,500-1,700 tests are conducted every day, with the number dipping considerably during weekends.<br /><br />In all 46,182 confirmed cases have been reported in Goa, where the Covid death tally stands at 667.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/careers/news/capgemini-hr-head-explains-why-the-french-it-major-is-going-crazy-hiring-in-india-and-around-the-world/articleshow/79277396.cms">EXCLUSIVE: Capgemini HR head explains why the French IT major is going crazy hiring in India and around the world</a><br /><br /><a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms">IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a><br /><br /><a href="https://www.businessinsider.in/india/news/cipla-launches-a-new-rapid-antibody-detection-test-for-covid-19-which-will-give-you-results-in-less-than-10-minutes/articleshow/79275894.cms">Cipla launches Covi-G — a new rapid antibody detection test for COVID-19 which will give you results in less than 10 minutes</a></strong><br />

Goa hotels are now mandated to maintain isolation rooms

<ul><li>The final results of Pfizer and BioNTech’s COVID-19 vaccine show that it's 95% effective. </li><li>The only significant side effect, with a frequency of over 2%, was fatigue. </li><li>The company plans to file for Emergency Use Authorisation (EUA) with the US’ Food and Drug Administration (FDA) within the next few days. <br /></li></ul>The COVID-19 vaccine being developed by Pfizer and BioNtech is 95% effective according to its <a href="https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-conclude-phase-3-study-covid-19-vaccine">final analysis</a>. Even in adults over the age of 65 years, the efficacy was observed at 94%.<br /><br />“No serious safety concerns were observed in the COVID-19 vaccine trial,” said the <a href="https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-conclude-phase-3-study-covid-19-vaccine">press note</a> issued by both companies.<br /><br />The phase 3 study only showed mild to moderate side effects that cleared up quickly. “The only significant side effect than that 2% in frequency was fatigue at 3.7%,” the study highlighted.<br /><br /><strong>How does the vaccine work?<br /></strong>With a 95% efficacy rate, those who get the vaccine will be protected within 28 days of the first dose — and there is only a two-dose schedule.<br /><br />This is far more effective than the threshold laid out by the White House coronavirus advisor Anthony Fauci, who has previously stated that a vaccine that is 50% to 60% effective would be acceptable. <br /><br /><strong>When will the vaccine be able for the public?<br /></strong>Now that the vaccine is ready for market as soon as it gets the required permissions, Pfizer and BioNTech plan to make up to 50 million doses before the end of the year and another 1.3 billion in 2021. <br /><br />According to the company, the vaccine’s efficacy is consistent across different ages, races and ethnicities. In light of the success, Pfizer plans to file for Emergency Use Authorisation (EUA) for the vaccine with the US Food and Drug Administration (FDA) within the next few days. It claims it has met all the safety data milestones required by the authorities. <br /><br /><strong>Why India shouldn’t rejoice just yet<br /></strong>A year since the first COVID-19 case was detected, the success of a possible vaccine provides a ray of hope after the last seven grueling months of the pandemic. However, the Pfizer vaccine may not be suited for use in India since it requires storage at minus 70 degrees Celsius.<br /><br />According to the Director of the All India Institute of Medical Sciences (AIIMS) <a href="https://www.businessinsider.in/science/health/news/indian-covid-vaccines-can-survive-in-warmer-temperatures-pfizers-says-aiims-director/articleshow/79172255.cms">Randeep Guleria</a>, the Pfizer vaccine’s requirement of a lower storage temperature is something that India’s cold storage infrastructure may not be able to support for the population of 1.3 billion. <br /><br />However, Pfizer believes its expertise and existing cold-chain infrastructure will be enough to distribute the vaccine around the world in specially designed and temperature controlled thermal shippers that use dry ice.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-customers-have-withdrawn-10000-crore-since-rbis-moratorium-was-announced-last-night/articleshow/79281857.cms">Lakshmi Vilas Bank customers have withdrawn ₹10,000 crore since RBI's moratorium was announced last night</a><br /><br /><a href="https://www.businessinsider.in/careers/news/capgemini-hr-head-explains-why-the-french-it-major-is-going-crazy-hiring-in-india-and-around-the-world/articleshow/79277396.cms">EXCLUSIVE: Capgemini HR head explains why the French IT major is going crazy hiring in India and around the world</a><br /><br /></strong><a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms"><strong>IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</strong></a><br />

Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results

India has been the worst hit by <keyword id="6362094" type="PERSON" weightage="20" keywordseo="Ransomware">ransomware</keyword> in the Asia Pacific (APAC) region, with 74 per cent of organisations having suffered a ransomware attack this year, as compared to 67 per cent in Australia, 52 per cent in Japan and 46 per cent in Singapore, said a survey on Wednesday.<br /><br />About 34 per cent Indian respondents shared that they have paid between $1 million-$2.5 million as a result of malware attacks in the last 12 months as compared to 21 per cent in Japan, 69 per cent in Singapore and 23 per cent in Australia, showed the survey by US-based cybersecurity company CrowdStrike.<br /><br />Indian organisations feel most threatened by eCrime groups (90 per cent), hacktivists (77 per cent) and insider threats (66 per cent) followed by threats from nation states (64 per cent), according to the "2020 CrowdStrike Global Security Attitude Survey."<br /><br />The results showed that 76 per cent respondents feel most threatened by cyberattacks originating from China followed by Pakistan (48 per cent) and Russia (43 per cent). China has been a common threat across regions with 75% in Japan, 72% in Singapore and 72% in Australia.<br /><br />More than half of Indian organisations feel that nation state attacks will be the biggest concern for 2021.<br /><br />"This year has been especially challenging for organisations of all sizes around the world, with both the proliferation of ransomware and growing tensions from nation-state actors posing a massive threat to regions worldwide," Michael Sentonas, Chief Technology Officer, CrowdStrike, said in a statement.<br /><br />"Now more than ever, organisations are finding ways to rapidly undergo digital transformation to bring their security to the cloud in order to keep pace with modern-day threats and secure their 'work from anywhere' operations."<br /><br />The Covid-19 pandemic catalysed increasing concerns around <keyword id="2989696" type="PERSON" weightage="20" keywordseo="ransomware-attacks">ransomware attacks</keyword>, with many organisations resorting to paying the ransom.<br /><br />The global attitude has shifted from a question of if an organisation will experience a ransomware attack to a matter of when an organisation will inevitably pay a ransom.<br /><br />The APAC region is suffering the most when paying the ransom with the highest average payout at $1.18 million, followed by EMEA (Europe, the Middle East and Africa) at $1.06 million and the US at $0.99 million.<br /><br />The study surveyed 2,200 senior IT decision-makers and IT security professionals in the US, the UK, France, Germany, Spain, Italy, the Netherlands, Middle East, India, Japan, Singapore and Australia across major industry sectors.<br /><br />The report details the attitudes and beliefs of those in charge of cybersecurity, and tracks how they are faring against sophisticated and pervasive cyberattacks.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/careers/news/capgemini-hr-head-explains-why-the-french-it-major-is-going-crazy-hiring-in-india-and-around-the-world/articleshow/79277396.cms">EXCLUSIVE: Capgemini HR head explains why the French IT major is going crazy hiring in India and around the world</a><br /><br /><a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms">IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a><br /><br /></strong><a href="https://www.businessinsider.in/india/news/cipla-launches-a-new-rapid-antibody-detection-test-for-covid-19-which-will-give-you-results-in-less-than-10-minutes/articleshow/79275894.cms"><strong>Cipla launches Covi-G — a new rapid antibody detection test for COVID-19 which will give you results in less than 10 minutes</strong></a><br />

Indian businesses hit by more ransomware attacks than Australia, Japan and Singapore reveals new survey

<ul><li>The 30-share BSE index was trading 18 points higher, and the broader NSE Nifty was trading flat on Wednesday at 10:02 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian indices were trading flat on Wednesday after hitting a record high on Tuesday led by the losses in heavyweights HDFC, HUL, TCS and RIL. <br /><br />The 30-share BSE index was trading 18 points higher, and the broader NSE Nifty was trading flat on Wednesday at 10:02 am. <br /><br /><strong>Here’s a list of the top losers and gainers in the Nifty pack. </strong><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Top Nifty Gainers<br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Top Nifty Losers</strong><br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI <br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan<br /><br /></td></tr></tbody></table>*as of November 18, 10:00 am<br /><br /><strong>These are the top stocks in news today.<br /></strong><br /><strong>Lakshmi Vilas Bank hits 20% lower circuit <br /></strong><br />The shares of Lakshmi Vilas Bank were locked in a 20% lower circuit a day after the government placed the bank under a one-month moratorium and capped withdrawals at ₹25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. Meanwhile, the RBI has also placed in the public domain a draft scheme of amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank.<br /><br /><strong>DHFL locked in 5% upper circuit </strong><br /><br />The shares of cash strapped Dewan Housing Finance Corp (DHFL) were locked in a 5% upper circuit <a href="https://www.livemint.com/companies/news/adani-surprise-sparks-new-auction-for-dhfl-11605571146578.html">after news reports surfaced</a> that lenders are likely to call for fresh bids as the Adani Group unexpectedly offered a higher price for the company’s assets. <br /><br /><strong>Wipro sheds 1% <br /></strong><br />The shares of IT giant Wipro shed nearly a percent after its shareholders have approved its up to ₹9,500 crore share buyback plan. The board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at ₹400 per share, aggregating to an amount of up to ₹9,500 crore.<br /><br /><strong>Tata Motors shares soar ahead of Tata vs Mistry case hearing <br /></strong><br />The shares of Tata Motors soared over 4% ahead of Tata vs Mistry case hearing scheduled today. Tata Motors also recorded a strong festive boost during the Diwali season. <br /><br /><strong>DLF opens 3% higher <br /></strong><br />The shares of DLF soared 3% after the company was recognised to be listed on Dow Jones Sustainability Indices (DJSI), becoming the only Indian realty firm to be included in the DJSI index. The index recognised DLF based on its record for its governance, social and environmental initiatives. <br /><br /><strong>IIFL Securities up over 6% <br /></strong><br />The shares of IIFL Securities gained over 6% after the company announced that its board would meet on November 20 to consider the share buyback proposal.<br /><br /><strong>Mahanagar Gas gains 3% <br /></strong><br />The shares of Mahanagar Gas were up 3% after brokerages reiterated ‘buy’ rating for its stocks. CLSA has raised its target to ₹1,310 per share from ₹1,299 earlier. Nirmal Bang has set the target price at ₹1,072. <br /><br /><strong>SEE ALSO:<a href="https://www.businessinsider.in/business/news/indiamart-and-justdial-in-legal-battle-over-copyright-violations/articleshow/79275178.cms" data-type="tilCustomLink"> IndiaMart and JD Mart gear up for a legal battle over copyright infringement — even as Justdial calls IndiaMart’s allegations ‘baseless’</a><br /><br /></strong><a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-updates-and-news-india-in-talks-with-moderna-for-94-5-effected-covid-19-vaccine/articleshow/79255463.cms" data-type="tilCustomLink"><strong>COVID-19 vaccine latest updates: Sinovac’s CoronaVac safe, early trial results show that vaccine triggers immune response</strong></a><br />

You Searched For "JD Mart" and got 11 results

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Goa hotels are now mandated to maintain isolation rooms

IANS

Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results

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Indian businesses hit by more ransomware attacks than Australia, Japan and Singapore reveals new survey

IANS

Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others

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You Searched For "JD Mart" and got 11 results

One alarming reason why Wal-Mart's profit is down

Hayley Peterson

One ominous reason why Wal-Mart is bringing back greeters

Hayley Peterson

Wal-Mart Pays Its Managers More Than Starbucks Does

Hayley Peterson

Wal-Mart laid off 2,200 workers, then told them to avoid chocolate and alcohol

Hayley Peterson

'House of Cards' character points out some outrageous true facts about Wal-Mart

Natasha Bertrand

Wal-Mart's unprecedented pay hike is proof that the company is committed to dominating retail once again

Myles Udland

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

Navdeep Yadav

Goa hotels are now mandated to maintain isolation rooms

IANS

Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results

Prabhjote Gill

Indian businesses hit by more ransomware attacks than Australia, Japan and Singapore reveals new survey

IANS

Top stock movers — Lakshmi Vilas Bank, Tata Motors, DHFL, Wipro, Mahanagar Gas, IIFL Securities, and others

Navdeep Yadav

Popular Keywords

Buying Guides

Top stocks to watch — Lakshmi Vilas Bank, Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others