Top headlines: Google faces antitrust case in India, Ola buys Dutch firm

Ola Electric said it will begin EV production work this year and plans to launch its first electric scooter in 2021
Google faces antitrust case in India over promoting payments app: Report
India's antitrust body is looking into allegations that Alphabet Inc's Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters. The complaint was filed in February and the Competition Commission of India (CCI) has kept the identity of the complainant confidential, the first source with direct knowledge of the case said. Read on...

Ola Electric buys Dutch scooter company Etergo valued at $92 million
A unit of SoftBank Group-backed Indian ride-hailing company Ola will buy Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday. Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around 84 million euros ($92 million), according to a source familiar with the deal. Read on...

Future Retail to raise up to Rs 650 crore through NCDs to reduce debt
Debt-ridden Future Retail on Wednesday said its board has approved raising up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt. The NCDs will be issued on private placement basis in one or more tranches, Future Retail said in a BSE filing. Read more...

Realtors plan bigger houses to accommodate a 'home office' inside them
With social distancing and work-from-home becoming the norm in many cities, property developers plan to launch larger apartments where extra rooms can be used as a home-office. Shapoorji Pallonji, Oberoi Realty, Godrej Properties and others are either evaluating, planning or building larger apartments. Read on...

Adityanath relents, states don't need permission to hire UP migrants
Uttar Pradesh chief minister Yogi Adityanath is walking back, two days after he said that permission would be needed if other states employ workers from UP. The issue sparked a major controversy and an official spokesman has now said that the government would not include this clause of 'prior permission' in the bye-laws of the Migration Commission. Read on...

Reliance looks at Nasdaq listing for Jio Platforms; IPO likely by 2021
An overseas listing may be on the cards for Jio Platforms, the digital and telecommunications subsidiary of Reliance Industries (RIL). According to sources aware of the development, work in this regard may commence soon after RIL sells 20-25 per cent in Jio Platforms and the government issues direct listing guidelines. Read more...


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