Moneycontrol Selects: Top stories this evening

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Here is a collection of the most important stories this evening:

Hindustan Unilever says Dove dry shampoo recall in US won't impact India

Fast-moving consumer goods (FMCG) giant Unilever’s recall of dry shampoo products manufactured under brands like Dove, Tresemmé and other brands in the US and Canada markets will not impact India, the company’s Indian unit Hindustan Unilever (HUL) said. According to the company, it does not manufacture or sell the products in the Indian market.

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Dabur to acquire 51% stake in Badshah Masala for Rs 587.5 crore

Dabur is set to acquire 51 percent stake in Badshah Masala for Rs 587.5 crore. The acquisition is expected to be completed before March 31, 2023, CNBC-TV18 reported.

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UK PM Rishi Sunak delays fiscal statement to November 17

Britain’s new Prime Minister Rishi Sunak on Wednesday delayed the announcement of a plan to repair the country’s public finances until Nov. 17, two-and-a-half weeks later than originally planned. Finance minister Jeremy Hunt announced the move in a televised statement, saying it was prudent to delay the plan to ensure it took into account the latest economic forecasts.

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Production disrupted at world's biggest iPhone factory. Here's why

World's largest iPhone factory experienced disruption as millions of people in China are put under tight Covid restrictions on Wednesday with sporadic outbreaks across the country prompting business closures.

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Zoho joins ONDC, will help sellers to set up online stores

Software-as-a-Service (SaaS) major Zoho has joined the government’s e-commerce platform Open Network for Digital Commerce as a technology service provider to help customers leverage ONDC to reach a broader audience. Zoho's e-commerce platform Zoho Commerce will allow sellers and its existing customers to set up online stores quickly and on-board the open e-commerce network, the company said in a media statement on October 26.

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US dollar drops to three-week low as traders weigh a Fed pivot
A gauge of the dollar dropped to a three-week low as traders bet the Federal Reserve will temper the pace of its rate hikes amid signs the world’s biggest economy is starting to slow. The Bloomberg Dollar Spot Index fell as much as 0.7 percent, sliding along with benchmark Treasury yields for a second day. Traders are pricing the upper bound of the Fed’s target range will peak at about 5 percent compared with almost 5.20 percent last week.

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No fireworks this Diwali at the box office despite strong release pipeline

It is a slow start for Diwali releases with two big-ticket Hindi offerings, Akshay Kumar’s Ram Setu and Ajay Devgn-starrer Thank God, which released on October 25, recording below-par performances at the box office. Film trade analysts estimate that box office numbers for Hindi films will be 25-30 percent lower this Diwali due to no franchise film releases as seen in previous years.

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