A look at the headlines in this sector right now:

  1. Post merger, SBI may reduce workforce by 10% over the next two years, says top official: The bank’s managing director said several employees will be offered the voluntary retirement scheme, and that dismissals were not an option.   
  2. Uber suspends self-driving car tests after one of its vehicles meets with an accident in Arizona: The company’s SUV was not responsible for the crash, according to the police, and the autonomous vehicles will not return to roads till an inquiry is conducted.
  3. Iran imposes sanctions on 15 US firms allegedly for supporting Israel’s occupation of Palestine: The order bans these companies from signing any deals with Iranian firms and bars former and current directors from getting visas.
  4. Google will replace GTalk with Hangouts on June 26: Gmail users will receive a prompt to switch to the newer messaging service, but their accounts will automatically be transitioned to Hangouts after the date.
  5. European Union agency has recommended suspension of more than 300 drugs tested by Indian firm: These include 100 medicines manufactured by Aurobindo Pharma, five of Strides Arcolab and four of Zydus Cadila, among others.
  6. IIM Ahmedabad hikes fees for two-year courses from Rs 19.5 lakh to Rs 21 lakh:  Last year, the institution had increased the figure by 5.4%.
  7. Facebook may soon allow users to post GIFs in comments: The social media giant said it is set to begin testing the feature, which will function similarly to the one available on Messenger.