Here are the Business News Headlines as on 2nd June 2017:
- After getting clearance from SEBI and stock exchanges- BSE and NSE, Bharti Airtel and Telenor have filed application at National Company Law Tribunal for approval of their merger. They had signed an agreement for merger in February 2017 under which Airtel will acquire Telenor India’s running operations in seven circles — Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.
- Amazon has filed a patent application in India for a technology which may ensure that AAVs (drones) do not hit humans or animals while delivering packages. Amazon is working on Amazon Prime Air, a service aimed to deliver packages of up to five pounds in 30 minutes or less, using small drones.
- Government is working on to amend Packaged Commodities Rules so that E-commerce platforms and vendors have to mandatorily declare minimum retail price, net quantity and grievance redressal procedure on all packaged goods. This comes after Government received complaints from consumers that they weren’t provided the same goods as mentioned in the packages and also inadequate information were furnished by some companies on their packages.
- US Visa Update : To tighten vetting of would-be visitors to US, Trump administration has rolled out a new questionnaire for US visa applicants worldwide that asks for social media handles for the past five years and biographical information going back 15 years.
- IT Job cuts : Infosys co-founder NR Narayana Murthy has said that IT companies can protect jobs of youngsters if senior executives take pay cuts.
- Tata Cleantech, a joint venture of Tata Capital and World Bank’s IFC, has raised Rs200 crore from its promoters. The funds will be used to invest in renewable energy projects.
- Experimenting with new formats, Reliance Retail is opening new stores where women will be able to relax in a spa or enjoy coffee after shopping for footwear, apparel, jewellery and cosmetics all under one roof. Its being called “Project Eve”. The current focus markets will be Delhi, Mumbai and Bengaluru.