A look at the headlines in the sector right now:
- Fuel dealers say they are not ready for daily pricing yet, want new system deferred: The All India Petroleum Dealers Association said they would stop buying fuel from June 16, though they claimed this was not a strike.
- States keen on farm loan waivers will have to generate funds from own resources, says Arun Jaitley: The finance minister said this a day after the Maharashtra government announced they would write off loans to farmers in the state.
- Uber may ask CEO Travis Kalanick to step down temporarily, says The New York Times report: The company’s board has reportedly decided to rejig its leadership, as it awaits the findings of an internal investigation.
- Sensex, Nifty decline before inflation data is released: The BSE Sensex ended 166 points lower at 31,095 while NSE Nifty was down by 51 points to 9,616.40.
- Pakistan PM Nawaz Sharif summoned by joint investigation team in Panama Papers case: He has been asked to appear before them on June 15.
- Finance Minister says the RBI is close to listing bad loans under bankruptcy rules: The government amended existing laws to address $150 billion in “troubled debt”.
- General Electric selects John Flannery as chief executive officer: Chairperson Jeff Immelt will remain the conglomerate’s chairperson till December 31, a statement said.