A look at the headlines in the sector right now:

  1. Supreme Court directs Unitech to deposit Rs 15 crore to refund buyers who invested in Gurgaon project: The real estate major will have to pay Rs 5 crore in two weeks and the remaining amount by the end of September.
  2. Ola shuts down TaxiForSure operations, reportedly lays off 700 staff members: The cab aggregator said the Bangalore-based firm had been integrated with its Ola Micro service, but it did not confirm the number of employees fired.
  3. Hike messenger raises $175 million from Tencent and Foxconn: The funding makes the WhatsApp rival worth $1.4 billion.
  4. Centre may pay Rs 34,600 cr as arrears in August salary as per 7th pay commission's recommendations: According to India Ratings and Research, the government is likely to cut down on spending to meet the lump sum payments.
  5. Supreme Court seeks Gujarat's response on Teesta Setalvad's plea against bank accounts freezing: The Gujarat High Court had rejected their petition that sought control of their personal accounts, which were frozen after they were accused of embezzling.
  6. Univision Communications buys Gawker Media for $135 million at bankruptcy auction: The owner of the New York-based website, Nick Denton, said he was 'pleased' by the deal, after the firm went belly up following a legal battle with Hulk Hogan.
  7. SoftBank Group Corp invests Rs 413 crore in Oyo rooms: The Oravel Stays-owned company has filed documents with the Registrar of Companies that reveal the deal was clinched on July 22.