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• Donald Trump, who has the authority to appoint the TVA board, said he was removing its chairman James Thompson and Richard Howorth
• The move comes weeks after Donald Trump sparked criticism from business groups over his decision to suspend the entry of certain foreign workers on H-1B visas

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• All non- essential markets, market areas and shops will remain open from 9 am to 7 pm, the BMC said
• Mumbai has so far reported 1,17,406 Covid-19 cases and 6,493 deaths

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• Many theories have been floated about a farm economy-fuelled revival. Here’s why those hopes are unrealistic
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Coronavirus India: 44,306 patients cured in a day, highest-ever testing

803 patients succumbed to coronavirus infection in past 24 hours, taking the overall death toll to 38,938

Article 370: Curfew imposed across Kashmir ahead of first anniversary

• Police and CRPF personnel were deployed in strength across the valley to ensure that the plans of the separatists to disturb peace did not succeed
• The authorities had announced on Monday that the curfew would be imposed in Srinagar and other parts of the valley

Big jolt for Indians: Trump signs order that will increase H-1B visa scrutiny

The executive order Trump signed Monday increases scrutiny of federal contractors’ use of H-1B visas to bring in temporary foreign labor for high-skilled jobs rather than relying on American workers

Gold prices today hit another new high, silver rates rise

• Worries over economic growth due to rising coronavirus cases continued to support gold's safe-haven demand
• Gold is seen as a hedge against inflation and fears of currency debasement.

Stocks to Watch: Jubilant Life Sciences, Yes Bank, GMR Infra, IT companies, PVR

• Trump has signed an executive order preventing federal agencies from contracting or subcontracting foreign workers -- mainly those on H-1B visa -- from hiring
• Jubilant Life Sciences arm has launched the generic version of antiviral drug remdesivir in India for the treatment of covid-19 patients

Government charts defence production targets

• Estimates suggest the Indian armed forces could spend about $130 billion to procure defence equipment in the next five years
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• Former Karnataka CM Siddaramaiah tweets he has tested positive for Covid-19, admitted to hospital
• Karnataka Chief Minister B S Yediyurappa is undergoing treatment at Manipal Hospital after testing coronavirus positive

The dollar might be falling, but its reign is not over

The US dollar has registered its worst performance in a decade by dropping nearly 5%. This has resulted in fresh speculation regarding the end of the greenback’s hegemony as the default international currency. Mint explores the issue in detail.

Blue-collar jobs show revival  signs in metros

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• The top metros have seen an exodus of migrant workers following the imposition of lockdown beginning 25 March

H1-B visa should be used for highly paid talent to create American jobs: Trump

This ensures that US federal agencies will prioritise hiring Americans rather than signing on foreign workers majority of those who are on H-1B visas.

Mumbai rains: Local trains stopped; offices shut

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• Mumbaikars are advised not to venture out on August 4 and 5

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• As they were having the meal, Agarwal found a dead lizard in his bowl of sambar and captured it on his mobile phone
• The manager assured him it won't happen again

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• InCred, an NBFC backed by global private equity firms, including Investcorp, is seeking a merger with wholesale NBFC biz of PE firm KKR
• NBFCs such as Shriram Transport Finance, Mahindra and Mahindra Financial Services and PNB Housing Finance are relatively better off, but may not be free of stress

RBI board to meet on 14 August over dividend

• The dividend from RBI will come at a time when the Centre’s finances are under severe strain
• The government has budgeted ₹60,000 crore as dividends from RBI and state-run banks and financial institutions, according to the Union Budget 2020-21

Maruti, Hyundai to ramp up production to peak FY18 levels

• Both companies increased vehicle production in FY18 and in the first half of FY19 to meet robust demand in line with a pickup in economic activity
• The plans of Maruti Suzuki and Hyundai are a bellwether for India’s car industry as they had a combined 68% share of the domestic passenger vehicle market

How covid-19 could change the face of residential realty

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• The report by an independent panel of experts monitoring UN sanctions said the countries believed North Korea's past six nuclear tests had likely helped it develop miniaturized nuclear devices
• Pyongyang has not conducted a nuclear test since September 2017

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District Collectors, District Police Chiefs and DMOs will monitor the situation daily and ensure that regulations and restrictions are implemented effectively, he added.

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• The company has appointed Arunesh Verma as CEO of its North America business in December
• The exits had been in the works for a few months and were due to personal reasons, two company officials said

Mumbai: Red alert for extremely heavy rains; BMC issues advisory

The IMD said that extremely heavy rain will take place at isolated places in Mumbai, Thane and Raigad districts of Maharashtra on August 4 and August 5

HC to hear plea seeking transfer of Sushant Singh Rajput's case to CBI today

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• Earlier, actor Rhea Chakraborty had approached the SC and filed a transfer petition stating that Bihar Police has no jurisdiction to investigate

ONGC gas pipeline bursts in Assam, no damage reported: Official

ONGC is investing ₹265 crore to replace all the pipelines of Geleki operations and 70 per cent of the work is already over.

Many ATMs in West Bengal running short of cash due to COVID-19 restrictions

• Owing to COVID-19 protocols and restrictions, these entities are operating with minuscule staff and are closed on weekends
• Many lenders have outsourced the exercise to such entities, who are responsible for the maintenance and operation of ATMs in the state

An NRI can file ITR and claim credit or refund due out of tax deducted in India

In case you are an Indian citizen and you leave India as a member of the crew on an Indian ship; to be resident in India you must be in India for 182 days

‘Covid-19 has created a crisis for all the average companies’

Yes, there is always a herd mentality whenever things look hot in a sector. But the edtech sector is not for the faint-hearted, says Ronnie Screwvala, co-founder, upGrad

August rains hold key to India’s recovery after erratic monsoon

• Any setback to the farm sector, which is dependent on monsoon rains to water more than half of the fields, may hamper an economic recovery
• India’s agriculture has been the lone bright spot in the country’s shrinking economy

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Donald Trump also said the federal government will have to be paid a 'substantial amount of money' as part of any deal.

Moody’s upgrades Yes Bank by a notch following capital raise

According to Moody’s, Yes Bank’s funding and liquidity have moderately improved in Q2 of 2020

Google’s Pixel 4a won’t arrive in India before October

• The Pixel 4a is Google’s first smartphone in India this year
• The Pixel 4a has a Snapdragon 730G chipset from Qualcomm, alongside Google’s own Titan M security chip

The pandemic workday is 48 minutes longer and has more meetings

A study of 3.1 million workers around the world found an uptick in emailing, too.

Biplab Kumar Deb undergoes covid-19 test, results awaited, to home isolate

Tripura CM Biplab Kumar Deb took to twitter to confirm the news

Byju’s: Yuri Milner all set to invest $400 million in Indian education startup

• Yuri Milner is an early backer of the largest internet firms including Alibaba, Facebook Inc. and Twitter Inc
• Byju’s caters to students from kindergarten through 12th grade and has over 57 million registered users and over 3.5 million paid subscribers

Bank of India’s Q1 results offer cheer, but risks still linger around the corner

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