quick reads

The business wrap: August wholesale inflation at four-month high of 3.24%, and 7 other top stories

Other headlines: The NGT said the ban on 10-year-old diesel vehicles in Delhi-NCR will stay, and insolvency pleas have led to a slump in Reliance shares.

A look at the headlines in the sector:

  1. India’s wholesale inflation touched four-month high of 3.24% in August: Higher food and fuel prices contributed to the rise. 
  2. NGT refuses to lift ban on 10-year-old diesel vehicles in Delhi-NCR: One diesel vehicle caused as much pollution as 24 petrol or 40 CNG vehicles, the bench said while dismissing a plea by the Centre.  
  3. Reliance Communications shares weaken after Ericsson files insolvency petitions against it: The Anil Ambani-controlled company said it planned to challenge the case.  
  4. Centre looks for financial, legal advisers to speed up Air India disinvestment process: Interested investment banks and law firms will have to submit their applications by October 12.
  5. US government orders federal bodies to discontinue software developed by Russia’s Kaspersky Lab: The US Department of Homeland Security said it was concerned about the ties between officials of the cyber security firm and Kremlin intelligence.  
  6. Google to launch digital payment service Tez on September 18, say reports: Apart from its own UPI-based service, the company may also integrate third-party wallets like Paytm and MobiKwik to its platform.  
  7. After London and New York, Amazon opens third imaging studio in Gurugram: Brands with exclusive deals with the company can use the 44,000-sqft area to create better digital catalogues.  
  8. London court tells Vikram Bakshi, estranged partner of McDonald’s India, to sell stake in Connaught Plaza Restaurant Ltd: The ruling is in a dispute that broke out four years ago over the fast food chain dropping Vikram Bakshi as the managing director of the joint venture.  
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