The business wrap: Idea stocks plunge after confirming merger with Vodafone, and 6 other top stories
In other headlines: The Centre approved four draft GST bills, and Uber President Jeff Jones stepped down after seven months at the company.
A look at the headlines in the sector right now:
- Idea Cellular, Vodafone India confirm merger to create India’s largest telecom company: Chairman of the Aditya Birla Group Kumar Mangalam Birla will head the merged entity
- Union Cabinet approves four draft GST Bills, to be picked up by Parliament this week: The supporting bills will be introduced in the House as Money Bills.
- Uber President Jeff Jones quits after seven-month stint: This comes after a series of controversies and high-profile resignations in the company.
- Sensex ends 130 points down, Nifty remains above the 9,100 mark: Stocks of Idea Cellular fell by nearly 15% after the telecom company confirmed its merger with Vodafone India.
- Google to change ad policy to avoid products being placed next to controversial content: The move came after several big brands pulled out and the UK government summoned company executives over the issue.
- Cognizant to lay off more than 6,000 employees, says report: The actual number that will be dismissed is expected to announced by March 31, officials said.
- US assures India of no ‘significant change’ in H1-B visa, says Nirmala Sitharaman: The Commerce Minister told Lok Sabha members that the government was raising its concerns on the matter with Washington.