Top Headlines: Google's $10-bn India investment, Air India pay cut and more

Here are the top business headlines on Tuesday morning

Nifty companies may see over 25% profit drop in Q1

The April-June 2020 quarter is likely to have been a washout for India Inc as economic activity reduced significantly during the period owing to lockdown imposed by the government to slow the spread of the Covid-19 pandemic. Read More

I-T dept pares relief to taxpayers 

With the lockdown, imposed at the beginning of the financial year, affecting its revenue collection significantly, the Income-tax (I-T) department has started the proceedings in all pending tax assessments matters, particularly in metro cities. Read More

For AirAsia's Tony Fernandes, business in India makes little sense now

Last September, Tony Fernandes, owner of AirAsia, had a round of meetings with the Tata Sons management. The Tatas proposed a fundamental change on how the joint venture would operate in India. Fernandes was not comfortable with the idea. Read More

Google commits $10-billion investment to expedite digitisation in India

Google will invest close to $10 billion (around Rs 75,000 crore) in India over the next five to seven years through a “Google for India Digitisation Fund”. Read More

All you need to know about RIL 43rd AGM

Mukesh Ambani-controlled Reliance Industries (RIL), is all set to hold its 43rd annual general meeting (AGM) on Wednesday, July 15 via videoconferencing or other audio-visual means, given the ongoing crisis posed by Covid-19 pandemic. Read More

Pfizer, BioNTech's Covid-19 vaccines get US FDA's 'fast track' status

Two experimental coronavirus vaccines jointly developed by German biotech firm BioNTech and US pharmaceutical giant Pfizer have received 'fast track' designation from the US drug regulator, the companies said on Monday. Read More

CPI-based inflation rose to 6.1% in June

Consumer Price Index (CPI)-based inflation for June stood at 6.09 per cent, slightly above the Reserve Bank of India’s target band of 4 per cent (with a margin of +/- 2 per cent), showed the official data released on Monday. This has raised expectations of another rate cut. Read More

Maintain paycut parity across all employees: Air India pilots to management

As the extent of the crisis in the airline sector becomes visible and felt by all, the paycuts being imposed by the Air India management have been attacked by pilots as unfair. The ‘disproportionate’ cuts to variable allowances have become a sticking point between the two sides. So far, the senior management has borne a very small percentage of the cuts. Read More

Covid-19 provisions may consume maximum 1% capital, says YES Bank CEO

YES Bank on Monday said the provisioning undertaken due to the pandemic may consume at most 1 per cent of its capital. The lender will tap the capital markets to raise Rs 15,000 crore through a follow-on public offer (FPO). Read More