IIFL Securities barred by SEBI from onboarding new clients for two years for misusing clients’ funds; Abrdn Investment Management to sell complete 10.2% stake in HDFC AMC; Timken Singapore to sell 8.4% stake in arm Timken India for at least Rs 3,920 crore; Byju’s proceeds with layoffs, will fire 1,000 permanent employees; U.S. President Joe Biden says progress made in easing ties with China post Blinken visit…All this and much more on your daily podcast by Alex Mathew and Niraj Shah.