The European Union's antitrust commissioner has said that Google could face a fine of up to $6 billion if it failed to come up with a better proposal to settle a four-year antitrust probe.

The amount estimated accounts for 10% of the company's global revenue.

Public sector undertaking Bhel will be executing two thermal projects in Telangana on an engineering, procurement and construction (EPC) basis.

The state government would be entering into a memorandum of understanding with Bhel for the execution of 800-Mw Kothagudem and 1,080-Mw Manuguru thermal power plants.

The GMR Group is in discussion with European airplane maker Airbus for a possible stake sale in its aircraft maintenance, repair and overhaul (MRO) unit in Hyderabad. A deal will help GMR raise cash as a part of its ‘asset light’ strategy and enable Airbus to fulfill its commitment of developing an MRO in India.

“Our MRO strategy is well documented and we have nothing to add,” an Airbus spokesperson said in an email response to this newspaper. GMR did not respond to an email query.

Markets opened marginally higher led by oil and select financials but upside gains are likely to be capped ahead of the expiry of September derivative contracts tomorrow. Further, selling by foreign funds also weighed on sentiment.

At 9:35AM, the 30-share Sensex was up 40 points at 26,816 and the 50-share Nifty was up 15 points at 8,032.

September 24 will go down in history as a red letter day. Around 8 am on Wednesday, the India Space Research Organisation (Isro) successfully inserted its spacecraft 'Mangalyaan' into Mars' orbit, making India the first country to successfully carry out such a mission in its maiden attempt.

Prime Minister Narendra Modi witnessed the historic event from Isro's Spacecraft Control Centre at ISRO Telemetry Tracking and Command Network in Bangalore. "Let today’s success, drive us with even greater vigour, and conviction. Let’s set ourselves, even more challenging goals," he said after the successful insertion of Mangalyaan into Martian orbit, adding that even if the mission had been a failure he would have been the first to back the scientists involved.

Lalit Modi might be famous for his penchant for cricket administration and his ongoing tussle with International Cricket Council chief N Srinivasan, but it is his father, K K Modi’s empire that accounts for a significant portion of his earnings.

Modi, famous for having made Indian Premier League (IPL) a household name, is seeking reappointment as director of Godrfey Phillips India (GPI), flagship company of the K K Modi group.

BANGALORE: Infosys has raised the salaries of its top executives so sharply that some of them are now in the $1-million (Rs 6-crore) compensation club - making them almost unpoachable by even international rivals - and raising the salary benchmark in the Indian IT industry.

The executive vice-presidents who are now at the Rs 6-crore level had salaries in the Rs 1.2-Rs 2 crore range previously, meaning that they have got three to five-fold hikes.

A day after over 100,000 people marched to warn that climate change is destroying the Earth, more than 1,000 activists blocked parts of Broadway in Manhattan's financial district in a sit-in to protest what they see as corporate and economic institutions' role in the climate crisis.

Yesterday's demonstration was planned as a more confrontational sequel to Sunday's march, with many participants yesterday deliberately risking arrest by obstructing traffic in the heart of the US financial capital.

The government has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential. The move comes after industry protests against the National Pharmaceutical Pricing Authority (NPPA) decision to impose price caps on more than 100 drugs.

The Department of Pharmaceuticals has withdrawn guidelines issued by the NPPA on May 29 that gave the the powers to fix the prices of drugs that are not on the essential medicines list, the latter said in a notice late on Monday.

Benchmark share indices continued to trade weak as selling by foreign funds continued to weigh on market sentiment. Further, data suggests that Nifty roll-overs to the October series stood at 40% so far.

At 11.45 Hrs, Sensex was trading at 27,139.04 with a 67.77 points loss while NIfty shows a decline of 21.50 points at 8,124.80.

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