Airtel's loss narrows in Q2FY21 as revenue jumps to record level

Bharti Airtel&nbsp;reported its highest ever consolidated quarterly revenue as it rose 22% year-on-year to&nbsp;₹25,785 crore&nbsp;in the second quarter of FY21.
Consolidated net loss for Q2 came in at&nbsp;₹763 cr, compared with a loss of&nbsp;₹23,045 crore a year earlier.
The average revenue per user&nbsp;rose to&nbsp;₹162 for the quarter, from&nbsp;₹128 a year earlier.
The company's 4G data customers rose by 14.4 million to 152.7 million.

Bharti Airtel&nbsp;reported its highest ever consolidated quarterly revenue as it rose 22% year-on-year to&nbsp;₹25,785 crore&nbsp;in the second quarter of FY21.
Consolidated net loss for Q2 came in at&nbsp;₹763 cr, compared with a loss of&nbsp;₹23,045 crore a year earlier.
The average revenue per user&nbsp;rose to&nbsp;₹162 for the quarter, from&nbsp;₹128 a year earlier.
The company's 4G data customers rose by 14.4 million to 152.7 million.

₹3,600 crore recovered from Vijay Mallya, creditors told SC

The State Bank of India-led&nbsp;consortium of banks told the Supreme Court on October 26 that around ₹3,600 crore had been recovered from fugitive businessman Vijay Mallya so far. Senior Advocate Mukul Rohatgi, representing the SBI-led banks consortium, also informed the apex court that&nbsp;₹11,000 crore were still needed to be recovered&nbsp;from Mallya.

₹3,600 crore recovered from Vijay Mallya, SC told
SBI-led banks consortium:&nbsp;₹11,000 crore&nbsp;need to be recovered
&nbsp;

The State Bank of India-led&nbsp;consortium of banks told the Supreme Court on October 26 that around ₹3,600 crore has been recovered from fugitive businessman Vijay Mallya so far. Senior Advocate Mukul Rohatgi, representing the SBI-led banks consortium, also informed the apex court that&nbsp;₹11,000 crore&nbsp;still need to be recovered&nbsp;from Mallya.

RIL, Future Group to take on Amazon over stalled deal

Future Retail may challenge the ruling from the Singapore-based arbitrator before Indian legal forums;&nbsp;RIL&nbsp;too intends to complete the transaction without any delay

RIL, Future Group respond to Amazon-invoked arbitration ruling

Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums. The company also said that&nbsp;Future Retail Ltd&nbsp;is not a party to the agreement under which Amazon has invoked arbitration proceedings.&nbsp;
Meanwhile, RIL&nbsp;said it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay. The&nbsp;Reliance-Future Retail deal has been done under proper legal advice and the rights and obligations are fully enforceable under Indian Law, RIL&nbsp;said in an exchange filing.

Future-RIL deal on hold; favourable ruling for Amazon

The Future-Reliance deal has been put on hold by a Singapore-based arbitration panel; favourable ruling for Amazon

Amazon Inc has won an interim award against its partner Future Group selling retail business to Reliance Industries after a Singapore-based arbitration panel put the deal on hold.
The e-commerce giant had dragged Future to arbitration after the indebted Kishore Biyani group firm signed pact to sell retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani's Reliance&nbsp;for ₹24,713 crore.
Amazon had purchased 49% in one of Future's unlisted firms last year with the right to buy into Future Retail Ltd after a period of three years to 10 years. It believes Future Group violated the contract by entering into the deal with rival Reliance.

Goldman Sachs to pay $2.9 bn fine for Malaysian scam

Goldman Sachs will pay $2.9 billion in penalties to settle criminal charges in the Malaysian bribery scandal. This is the largest US fine ever in a corruption case

Global financial giant Goldman Sachs has agreed to pay $2.9 billion in penalties to settle criminal charges in the Malaysian bribery scandal, news agency AFP has reported. This is the largest US fine ever in a corruption case, the Justice Department announced on Thursday. Goldman Sachs helped raise $6.5 billion for the Malaysian government's sovereign wealth fund. The US Justice Department has said more than $4.5 billion was stolen from the fund by high-level officials at the fund and their associates between 2009 and 2015.

Global financial giant Goldman Sachs has agreed to pay $2.9 billion in penalties to settle criminal charges in the Malaysian bribery scandal, news agency AFP has reported. This is the largest US fine ever in a corruption case, the Justice Department announced on Thursday. Goldman Sachs helped raise $6.5 billion for the Malaysian government's sovereign wealth fund. The US Justice Department has said more than $4.5 billion was stolen from the fund by high-level officials at the fund and their associates between 2009 and 2015. The guilty plea could curtail activities of Goldman Sachs Malaysia but allows the parent company to avoid admitting wrongdoing in court -- which would have damaged its ability to do business.

Pharma giant strikes $8bn settlement over opioid addiction

Drugmaker Purdue Pharma&nbsp;will&nbsp;plead&nbsp;guilty to opioid&nbsp;charges as part of a settlement of more than $8 billion. This is the largest settlement ever reached with a pharma company.
&nbsp;

Purdue Pharma agrees to plead guilty; historic settlement of $8 bn

Drugmaker Purdue Pharma, the company behind the powerful prescription painkiller OxyContin that experts say helped touch off an&nbsp;opioid&nbsp;epidemic, will&nbsp;plead&nbsp;guilty to federal criminal charges as part of a settlement of more than $8 billion, the Justice Department announced Wednesday. This is the largest settlement ever reached with a pharmaceutical company.
&nbsp;

Cathay Pacific Airways cuts 8,500 jobs, shutters regional airline

Hong Kong-based Cathay Pacific Airways said on Wednesday it would cut 8,500 jobs,&nbsp;about 24% of the company&rsquo;s workforce, as it struggles with the pandemic-led plunge in air travel.
The company will also shut down Cathay Dragon, its regional airline unit, with operations ceasing from Wednesday.
The restructuring is aimed at reducing Cathay Pacific&rsquo;s cash burn to $64.5 million a month, from about $193.5 million to $258 million currently.
Executive pay cuts will also continue throughout 2021 and there will be no pay increments for 2021 nor bonuses for this year for all Hong Kong employees, Cathay Pacific said.

Govt could ask public companies to buy back shares: reports

The government may ask some public companies to buy back shares in order to&nbsp;shore up its finances amid the coronavirus pandemic, according to a Bloomberg&nbsp;report.
Coal India Ltd., NTPC Ltd., NMDC Ltd., MOIL Ltd., KIOCL Ltd, and Engineers India Ltd. are among the eight companies that might be asked to repurchase shares this year, the report said.
The strategy will help the government access part of the more than ₹40,000 crore&nbsp;of cash hoard with the companies as of March 31.

Public companies may have to buy back shares: report
Buy back: Govt plans to shore up finances
Strategy help govt access Rs 40k crore&nbsp;cash

Amazon allows employees to work from home till June 2021

Amazon on Tuesday told employees, whose work can be done from home, that they can do so until June, Reuters reported. Amazon had earlier allowed that option until January. The development comes less than three weeks after the world's largest online retailer said more than 19,000 of its US&nbsp;frontline workers contracted the coronavirus this year.
&nbsp;

Amazon pushes back reopening&nbsp;of offices
Amazon employees to work from home till June
&nbsp;
&nbsp;

Pushing back reopening of offices, Amazon on Tuesday decided to extend the work from option for its employees, Reuters reported. 'Employees who work in a role that can effectively be done from home are welcome to do so until June 30, 2021', an Amazon spokeswoman said in an emailed statement.
Amazon had earlier allowed that option until January. The development comes less than three weeks after the world's largest online retailer said more than 19,000 of its US&nbsp;workers contracted the coronavirus this year.
&nbsp;

Govt may ease Air India deal to attract bidders: reports

In order to remove the constraints from the current&nbsp;deal, the government may allow&nbsp;potential suitors for Air India to decide how much of the carrier's debt they want to take on, Bloomberg&nbsp;reported on Tuesday. The bid date is also likely to be extended beyond October 30.&nbsp;Current rules require bidders to take over the carrier's $3.3 billion debt.

Government may sweeten Air India deal&nbsp;
Suitors may decide debt amount they wan to take
Bid date likely to be further extended

In order to remove the constraints from the current Air India deal, the government may allow&nbsp;potential bidders for national carrier to decide how much of the debt they want to take on, Bloomberg&nbsp;reported on Tuesday. Current rules require bidders to take over the carrier's entire $3.3 billion debt.&nbsp;The bid date is also likely to be further extended beyond October 30.&nbsp;

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The government is likely to extend the deadline to bid for Air India till December 14&nbsp;and also give flexibility to a potential investor to decide on the humongous d

Govt may extend Air India bid deadline to Dec 14

The government is likely to extend the deadline to bid for Air India till December 14&nbsp;and also give flexibility to a potential investor to decide on the humongous debt with the national carrier, news agency PTI&nbsp;reported. The deadline to bid for buying out Air India&nbsp;ends on October 30. The flexibility to potential investors on the quantum of the ₹60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle.

The government is likely to extend the deadline to bid for Air India till December 14&nbsp;and also give flexibility to a potential investor to decide on the humongous debt with the national carrier, news agency PTI&nbsp;reported. The deadline to bid for buying out Air India&nbsp;ends on October 30. The flexibility to potential investors on the quantum of the ₹60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle.

Unacademy, the e-learning platform, has secured the pole position in the 2021 LinkedIn&nbsp;Top Startups&nbsp;India list.&nbsp;B2B e-commerce platform Udaan&nbsp;and fintech&nbsp;firm CRED&nbsp;followed the list.
Unacademy's valuation soared to $3.44 billion as the platform explored new learning paths for upskilling, hiring, and creator-led courses.
The pandemic has shifted how we think about our careers and lives, and these companies are leading the way with employment opportunities and innovative plans for how we approach the future of work,&nbsp;Ankit Vengurlekar, India Managing Editor, LinkedIn News said.
Nearly 60 percent of the 2021 LinkedIn Top Startups India List were&nbsp;based out of Bengaluru, the city has reinforced its reputation as the 'Silicon Valley of India'.
Others in the top 10 include upGrad (4th), Razorpay (5th), Meesho (6th), Skyroot Aerospace (7th), boAt (8th), Urban Company (9th) and Agnikul Cosmos (10th).

LinkedIn Top Startups India list 2021: Unacademy, Udaan, CRED on top

LinkedIn Top Indian Startups: Unacademy, Udaan, CRED on top of the 2021 list

Top Indian startups

Nearly 60 percent of the 2021 LinkedIn Top Startups India List were&nbsp;based out of Bengaluru

Unacademy, the e-learning platform, has secured the pole position in the 2021 LinkedIn&nbsp;Top Startups&nbsp;India list.&nbsp;B2B e-commerce platform Udaan&nbsp;and fintech&nbsp;firm CRED&nbsp;followed the list.
Unacademy's valuation soared to $3.44 billion as the platform explored new learning paths for upskilling, hiring, and creator-led courses.
The pandemic has shifted how we think about our careers and lives, and these companies are leading the way with employment opportunities and innovative plans for how we approach the future of work,&nbsp;Ankit Vengurlekar, India Managing Editor, LinkedIn News said.
Nearly 60 percent of the 2021 LinkedIn Top Startups India List were&nbsp;based out of Bengaluru, the city has reinforced its reputation as the 'Silicon Valley of India'.
Others in the top 10 include upGrad (4th), Razorpay (5th), Meesho (6th), Skyroot Aerospace (7th), boAt (8th), Urban Company (9th) and Agnikul Cosmos (10th).

Sony Zee Merger News: Punit Goenka to remain MD & CEO of Zee Entertainment Ltd as Sony Pictures India comes to the rescue.

Sony Zee Entertainment Merger | Sony saves Zee's Punit Goenka, board approves mega merger

Blockbuster script by Zee&nbsp;, Sony debuts as saviour. Punit&nbsp;Goenka&nbsp;retained as companies sign mega merger.&nbsp;

Sony acquires Zee

Sony Zee Entertainment&nbsp;Merger:&nbsp;Zee board approves merger with Sony Pictures, Punit Goenka to remain MD &amp; CEO.

Punit Goenka&nbsp;to remain MD &amp; CEO&nbsp;of <a href="https://www.editorji.com/story/zee-entertainment-rakesh-jhunjhunwala-buys-50-00-000-shares-bofa-bets-too-1631678275337">Zee&nbsp;Entertainment Ltd</a> as Sony Pictures India&nbsp;comes to the rescue. The top executive who faced headwinds from Zee&nbsp;Ltd's&nbsp;biggest shareholder Invesco&nbsp;will remain in the position as Sony acquires a majority stake in the domestic entertainment giant.&nbsp;
<h3>Sony merger save for Zee</h3>
The Board of Directors of Zee Entertainment Enterprises Ltd in its board meeting held on September 21, 2021, unanimously provided in-principle approval for the merger between Sony Pictures Networks India&nbsp;&amp; Zee.
<h3>Zee-Sony merger deal details</h3>
As per the deal, Sony Entertainment will infuse over Rs 11,000 crore&nbsp;in the merged entity;&nbsp;47.07% of which will be held by Zee shareholders and the balance 52.93% of the merged entity to be held by Sony shareholders.&nbsp;
<h3>The broadcasting biggie</h3>
The combined entity will own 75 TV channels and more, making it the largest entertainment network in India, bigger than Star &amp; Disney India.&nbsp;Meanwhile, the promoters of the two companies will also sign certain non-compete arrangements as part of the transaction.
<h3>Better late, than sorry</h3>
It is noteworthy that Sony was shortlisted to acquire a stake in Zee&nbsp;in 2019 as well when Subhash&nbsp;Chandra was looking for a buyer.&nbsp;
Also Read |&nbsp;<a href="https://www.editorji.com/story/who-is-the-real-winner-of-the-whole-zee-fiasco-1632289610804">Who is the real winner of the whole Zee fiasco?</a>

Maruti Suzuki on Thursday reported a 1% rise in its net profit to ₹1,371 crore during the quarter ended September 30, 2020.
The Operating Profit jumped 72% y

Maruti Suzuki reports 1% higher Q2FY21 net profit

Maruti Suzuki on Thursday reported a 1% rise in its net profit to ₹1,371 crore during the quarter ended September 30, 2020.
The Operating Profit jumped 72% y-o-y to ₹1,167 crore&nbsp;on account of higher sales volume, lower sales promotion expenses and lower operating expenses.
India's biggest carmaker sold a total of 3.93 lakh vehicles during the quarter, higher by 16.2% compared to the same period previous year. Net sales rose 9.7% y-o-y to ₹17,689 crore.&nbsp;

Maruti Suzuki's net profit up 1% in quarter ending Sept
Operating profit jumped 72% y-o-y to ₹1,167 crore
It sold 3.93 lakh vehicles during the quarter
&nbsp;

Lack of a reliable ecosystem and the high price of the coveted&nbsp;5G spectrum&nbsp;will deter&nbsp;Bharti Airtel&nbsp;from participating in the auctions if th

Airtel to stay away from 5G auctions: report

Bharti Airtel would stay away from the 5G auctions if they happened next year due to the high price:report

Lack of a reliable ecosystem and the high price of the coveted&nbsp;5G spectrum&nbsp;will deter&nbsp;Bharti Airtel&nbsp;from participating in the auctions if they happen next year, Business Standard has reported.&nbsp;Bharti Airtel&nbsp;said it would stay away from the 5G auctions, if they happened next year as the spectrum offered at the current prices was not affordable for the company, the report said.

Lack of a reliable ecosystem and the high price of the coveted&nbsp;5G spectrum&nbsp;will deter&nbsp;Bharti Airtel&nbsp;from participating in the auctions if they happen next year, Business Standard&nbsp; has reported.&nbsp;Bharti Airtel&nbsp;said it would stay away from the 5G auctions, if they happened next year as the spectrum offered at the current prices was not affordable for the company, the report said.

Hero MotoCorp on Tuesday announced a distribution agreement with&nbsp;Harley-Davidson&nbsp;for the Indian market through&nbsp;which Hero will sell and service H

Hero MotoCorp to sell & service Harley motorcycles in India

Hero MotoCorp&nbsp;inked an agreement with&nbsp;Harley-Davidson to sell and service Harley motorcycles in India

Hero- Harley distribution agreement reached
Hero MotoCorp to sell &amp; service Harley motorcycles
Harley, last month said was discontinuing operations&nbsp;in India
&nbsp;

Hero MotoCorp on Tuesday announced a distribution agreement with&nbsp;Harley-Davidson&nbsp;for the Indian market through&nbsp;which Hero will sell and service Harley motorcycles in the country. After 11 years of operations in India, Harley in September said that it was discontinuing sales and production operations in India as part of a global restructuring plan.

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