A look at the headlines in this sector right now:

  1. GST to be rolled out as planned on July 1, announces Arun Jaitley, rates for hotels, lotteries fixed: The Centre also roped in veteran actor Amitabh Bachchan to promote the indirect tax regime.
  2. Sensex climbs up 255 points to close at record high, Nifty breaks 9,650-mark: Tata Steel, Adani Ports, and Hindalco gained the most on both indices.   
  3. Google, YouTube to introduce new measures to tackle extremist content online: The tech giant said its engineers have developed technology to prevent such content from being re-uploaded.   
  4. Indians have ‘relatively few’ deposits in Swiss banks, says bankers’ association: Switzerland had on Friday ratified automatic exchange of financial information with India and 40 other jurisdictions.  
  5. Poor driver incentives reduced Ola and Uber fleets by 25% in March quarter, says report: From December 2016 to March this year, the fleet shrunk from around 5,00,000 vehicles to 3,80,000.   
  6. I-T department orders coercive action against Cairn Energy Plc to recover Rs 10,247-crore tax: The oil company said it will continue with the arbitration proceedings against the retrospective tax demand. 
  7. BMW plans to invest Rs 130 crore in India and launch a new version of the 5 Series: However, the company said it is hard to make green vehicles popular in the country as there is not enough government support or infrastructure. 
  8. UK begins formal Brexit talks with EU, will focus on setting timetable for Britain’s exit: The talks will initially focus on Britain’s Brexit bill, the rights of three million EU nationals living in Britain, and the Ireland-North Ireland border.