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:
- India’s wholesale inflation touched four-month high of 3.24% in August: Higher food and fuel prices contributed to the rise.
- 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.
- Reliance Communications shares weaken after Ericsson files insolvency petitions against it: The Anil Ambani-controlled company said it planned to challenge the case.
- 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.
- 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.
- 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.
- 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.
- 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.
