BUSINESS
Google moves to court against antitrust suit, denies collusion with FB
Led by Texas Attorney General Ken Paxton, the lawsuit which was filed last week alleged that Zuckerberg and Pichai "personally approved a secret deal that gave the social network a leg up in the search giant's online advertising auctions". In a blog post late on Friday, Google said that the allegation that we somehow "colluded" with Facebook Audience Network (FAN) through our Open Bidding agreement is "simply not true".
Vodafone Idea's net losses widen YoY in Q3FY22, ARPU improves sequentially
Revenue from operations during the quarter declined to Rs 9,717 from Rs 10,894 crore in the same period in the corresponding fiscal. However, the Average Revenue Per User during the quarter stood at Rs 115, as against Rs 109 in Q2FY22, an increase of 5.2 percent quarter-on-quarter.
Tepid two-wheeler sales to subdue FY22 YoY domestic auto volumes: Ind-Ra
Accordingly, Ind-Ra said domestic sales volume is likely to either be flat or decline to the extent of 4 percent YoY as against its earlier expectation of 12-15 percent growth.
Intel to invest $20 bn on 2 new chip factories in US
The initial phase of the project in New Albany near Columbus, Ohio, is expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build, and to support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners. "Intel's actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come," said Pat Gelsinger, CEO of Intel.
QR codes on drug manufacturing ingredients mandatory from next year
"Every active pharmaceutical ingredient manufactured or imported in India shall bear a quick response code on its label at each level, packaging that store data or information readable with software application to facilitate tracking," said Union Health Ministry in a gazette notified guidelines. It has been made mandatory to put QR codes on Active Pharmaceutical Ingredients used in medicines which is expected to help in distinguishing between genuine and counterfeit drugs much easier.
Confirm willingness to fund debt owned to lenders: FRL independent directors to Amazon
Notably, the question to Amazon was posted after the e-commerce giant in an earlier letter to independent directors objected to the sale of Future Retail Ltd (FRL)'s small-format stores.
India's forex reserves rise by over $2 bn
The Reserve Bank of India's forex reserves increased to $634.965 billion from $632.736 billion reported for January 7. The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. Additionally, the SDR value was up by $123 million to $19.220 billion.
Enhancement in basic income tax exemption limit of Rs 2.5 lakh highly awaited
When asked about the most anticipated change for individual taxpayers the following were their responses 29 per cent wanted that the government to enhance the income limit of Rs 10 lakh at which the maximum marginal rate of 30 per cent tax is triggered. 36 per cent hoped for an increase in the 80C deduction limit of Rs 1.5 lakh.
Ventura case: ED attaches assets of over Rs 2 cr under PMLA
It further said that ED initiated money laundering investigation on the basis of FIRs registered by Goa Police in August and December 2019, under various sections of IPC & Goa Protection of Interest of Depositors (In Financial Establishments) Act, 1999 against Ameet Savant, Jeevendra Poddar, Shipra Singh, and others for duping of investors to the tune of approximately Rs 21.38 crore by promising fixed returns of 2 to 5 per cent per month.
Services exports crossed $178 bn in 6 months despite Covid: Piyush Goyal
Goyal lauded the ITES (Information Technology Enabled Services) industry including the Business Process Outsourcing (BPO) sector for the record Services exports during the last year and informed that the Government has taken several steps to boost the start-up ecosystem, as removing problems of ‘Angel tax', simplification of tax procedure & allowing self-certification and self-regulation, reducing the burden of over 26,500 compliances and decriminalization of 770 compliances.
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