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Geely-owned Zeekr and Waymo developing self-driving EV

Gold gains ₹ 144; silver jumps ₹ 664

Gold prices traded firm with spot gold prices.

Gold price in the national capital on Friday gained ₹ 144 to ₹ 46,874 per 10 gram in line with strong international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal settled at ₹ 46,730 per 10 gram.

Silver also jumped ₹ 664 to ₹ 61,015 per kg from ₹ 60,351 per kg in the previous trade.

In the international market, gold was trading with gains at $ 1,816 per ounce and silver was flat at $ 23.15 per ounce.

"Gold prices traded firm with spot gold prices at COMEX trading 0.11 % up at $ 1,816 per ounce on Friday," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.

Herald afternoon quiz: January 1

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Eight core sectors’ output up 3.1% in November

Barring crude oil and cement, all other sectors recorded positive growth in November.

Output of eight core sectors rose by 3.1% in November as against a contraction of 1.1% in the same month last year, according to government data released on Friday.

Barring crude oil and cement, all other sectors recorded positive growth in November.

In October, these core sectors’ output had grown by 8.4%.

The growth rate of the eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — stood at 13.7% during April-November this fiscal as against a negative growth of 11.1% during the same period last fiscal.

According to the data, coal production rose by 8.2%nt, natural gas by 23.7%, refinery products 4.3%, fertilisers by 2.5%, steel by 0.8%, and electricity by 1.5% in November.

Treasuries Finish Final Session Of The Year Roughly Flat

Treasuries showed a lack of direction over the course of the trading session on Friday before ending the day roughly flat.

Bond prices spent most of the session lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 1.512 percent.

The lackluster performance on the day came as traders seemed reluctant to make significant moves on the final trading day of the year.

A lack of major U.S. economic data may also have kept traders on the sidelines along with limited activity in overseas markets.

Treasury yields remain at relatively low levels but did regain some ground during 2021, with the ten-year yield increasing by 59.5 basis points on the year.

The treasury market could see increased activity next year, as the Federal Reserve wraps up its asset purchase program and prepares to begin raising interest rates.

The monthly jobs report is likely to be in the spotlight in the first week of the New Year, while reports on manufacturing and service sector activity may also attract some attention along with the minutes of the latest Fed meeting.

A dozen vehicles involved in collision on I-225 near Iliff Avenue.

A dozen vehicles were involved in a traffic crash Friday evening on Interstate 225 in Aurora, according to police.

The northbound lanes of the highway were temporarily shutdown near East Iliff Avenue by the multi-vehicle collision, police said.

One lane has been opened on the highway as emergency responders investigate the crash and some vehicles are towed off the road.

Police said that roads are slick with snow and they urge drivers to use caution and to slow down. The cause of the crash is under investigation. Police did not report any injures.

 

No extension of IT return filing deadline, says government

Tarun Bajaj said returns filed so far are more than those filed in the previous year.

The government on Friday said there is no proposal to extend the deadline for filing income tax returns beyond its current deadline of December 31.

Revenue Secretary Tarun Bajaj said December 31, 2021, remains the official deadline for filing of income tax returns.

He said returns filed so far are more than those filed in the previous year.

Mr. Bajaj said “ITR filing is going on very smoothly. Till 3 p.m. today, 5.62 crore returns have already been filed. And today itself people have filed 20 lakh returns, which is the highest…and in the last one hour 3.44 lakh returns have been filed. I expect another atleast 20-25 lakh returns to come by 12 tonight. Last year on December 30, 4.83 crore returns were filed, this year 5.43 crore returns have been filed. There is absolutely no proposal to extend the date.”

European Economics Preview: UK Nationwide House Price Data Due

House price data from the UK is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, UK Nationwide house price data is due. Economists forecast house prices to rise 0.5 percent on month in December, slower than the 0.9 percent rise in November.

At 3.00 am ET, Spain’s INE releases flash consumer and harmonized consumer prices for December. Consumer price inflation is seen rising to 5.7 percent from 5.5 percent in November.

In the meantime, Swiss KOF leading indicator data is due. The index is expected to fall to 106.4 in December from 108.5 in the previous month.

Also, producer prices data from Austria is due.

Geely-owned Zeekr and Waymo developing self-driving EV

Chinese automaker Geely’s EV subsidiary Zeekr has teamed up with the Californian technology firm Waymo to develop an autonomous cab. Previewed in official renders, the electric MPV is designed for use by the nascent ‘Waymo One’ ride-hailing platform, which currently operates in Phoenix, Arizona, and is testing in San Francisco.

The vehicle — as yet unnamed — has now entered development at Geely’s China Europe Vehicle Technology Centre (CEVT) in Gothenburg, Sweden. It will use what Geely calls “a new proprietary and open-source mobility architecture”, but it is unclear if this is related to the SEA platform that underpins Zeekr’s debut model, the 001 shooting brake, which was introduced in China earlier this year.

When development of Zeekr’s new EV is complete, Waymo will install its autonomous hardware, which uses Lidar (light detection and ranging), cameras, radar (radio detection and ranging) and computer processors to virtually map its surroundings. Described as “the world’s most experienced driver”, the company’s autonomous tech – ‘Waymo Driver’ – has undergone millions of miles of testing on public roads in more than 13 US states.

The self-driving vehicle is, thus, designed with a focus on the passengers, and will offer a “fully configurable” cabin, either with or without driver controls installed.

The companies are yet to reveal any further technical details of the project and have not confirmed a planned date or target markets for its launch.