India News

Amazon faces widening US antitrust scrutiny, cloud business also under le

US antitrust enforcers have broadened their scrutiny of Amazon.com Inc. beyond its retail operations to include its massive cloud-computing business, according to people familiar with the matter.

Investigators at the US Federal Trade Commission have been asking software companies recently about practices around Amazon's cloud unit, known as Amazon Web Services, said the people, who declined to be named because they weren't authorized to speak publicly.

Coca-Cola moves out of bottling ops in North India, to divest three plants

Coca-Cola has moved out of bottling operations in north India. The company announced on Wednesday Hindustan Coca-Cola Beverages (HCCB), the groups' local bottling arm, would transfer its business operations in four territories in north India to the existing bottlers.

This means, Coca-Cola group will no longer bottle and market any of its beverages in the country. As a part of this transition, HCCB will divest three of its existing plants in the region - one each in Ghaziabad (UP), Varanasi (UP), and Jammu (J&K).

SBI to divest 8.25% in UTI AMC share sale; BoB, LIC and PNB may follow suit

State Bank of India (SBI) on Wednesday said it will divest 8.25 per cent in the proposed initial public offering (IPO) of UTI Asset Management Company (AMC). The lender currently holds 18.25 per cent stake in the mutual fund (MF) house. Three other public sector undertakings (PSU) Life Insurance Corporation (LIC) of India, Bank of Baroda (BoB), and Punjab National Bank (PNB) also hold 18.25 per cent each, while US-based T Rowe Price owns 26 per cent.

Sources say LIC, BoB, and PNB too are expected to divest 8.25 per cent each in the UTI AMC IPO.

Jio follows Voda Idea, Airtel in raising tariff; rates to begin at Rs 199

Following new tariff plans announced by incumbent telecom operators, Reliance Jio has updated its tariff plans, which will be applicable from December 6.

"These plans will provide up to 300 per cent more benefits to Jio customers, upholding the Jio promise of providing best-quality service at the lowest price globally," said the company in a statement.

Within 6 months, 11,000 wifi hotspots will be set up at public places in Delhi: Kejriwal

Chief Minister Arvind Kejriwal on Wednesday said that the Delhi government will set up 11,000 wifi hotspots within six months to provide free internet service at various public places in the national capital.

At a press conference, he said that 4,000 hotspots will be set up at bus stops, and 7,000 in various markets across the national capital.

Tata Motors to hike passenger vehicle prices from Jan to offset BSVI impact

Tata Motors on Wednesday said it will increase prices of its passenger vehicles from January, primarily in order to offset impact of upgrading its portfolio to conform to BSVI emission norms.

The company currently sells products ranging from hatchback Tiago to SUV Harrier, priced between Rs 4.39 lakh and Rs 16.85 lakh (ex-showroom Delhi).

92,000 BSNL, MTNL employees opted for VRS scheme, says Ravi Shankar Prasad

More than 92,000 employees of BSNL and MTNL have opted for voluntary retirement, Union minister Ravi Shankar Prasad said on Wednesday as he asserted that the government will make the two telecom companies profitable as they are strategic assets. The Communications Minister told the Lok Sabha that the merger of BSNL and MTNL will have pan-India foot print, synergy in operations, reduction of fixed costs and overheads, among others.