The business wrap: Tata Sons says Cyrus Mistry made sensitive papers public, and 6 other top stories
In other headlines: Arun Jaitley said India needs lower taxes to be globally competitive, and Sensex and Nifty recovered well a day after nosediving.
A look at the headlines in the sector right now:
- Tata Sons accuses Cyrus Mistry of breach of confidentiality in legal notice: The conglomerate alleged that its former chairperson had made sensitive and confidential records public.
- India needs lower taxes to be globally competitive, says Arun Jaitley: For seven decades, Indians have considered tax avoidance ‘commercial smartness’ because of the ‘extraordinarily high rates’, he said.
- Sensex ends 406 points higher, Nifty crosses 8,000 mark a day after sharp fall: Markets were led by buying in blue-chip stocks as investor confidence was boosted by Finance Minister Arun Jaitley’s remarks.
- Apple’s first paper on artificial intelligence focuses on image advanced image recognition: The report describes techniques to train computer vision algorithms to recognise objects using synthetic or computer generated images.
- 25 lakh cars sold in India per year despite only 24 lakh people declaring income over Rs 10 lakh: A senior government official said only 1.5% of those filing tax returns were contributing to 57% of the country’s tax collections.
- Trai questions Reliance Jio’s Happy New Year offer: In a letter to the company, the telecom regulator sought an explanation on how its extended services did not violate norms.
- Google’s Sundar Pichai likely to announce new initiatives for startups, small businesses on India visit: The CEO is expected to attend an event in Delhi on January 4 along with IT Minister Ravi Shankar Prasad and senior officials of his company.