The government assures the automobile sector it will heed its woes; accounting giant PwC’s Indian affiliate gets a reprieve after it was banned in a decade-old fraud and Apple gets ready to shake up the streaming TV service. Here is what made news this week.
- Apple Inc caught up with hardware rivals this week by revealing a triple-camera iPhone, and announced a streaming TV service priced at Rs 99 a month in India.
- The government will respond to the demands of the automobile industry, said Finance Minister Nirmala Sitharaman, assuring an industry facing its worst slump in two decades.
- Blackstone Group will acquire the remaining 50 per cent stake in Indiabulls Real Estate's commercial properties for over Rs 4,420 crore.
- The Securities Appellate Tribunal overturned an order by the market regulator banning the Indian affiliate of accounting giant PwC from auditing listed companies in India for two years over its role in the nearly decade-old Satyam Computer accounting fraud.
- Fifty American states and territories announced an investigation into Google’s “potential monopolistic behaviour” and the company’s dominance of the online advertising market.
- Zomato, India's oldest food aggregation and delivery platform, laid off 601 employees to correct “redundancies”. Those laid will get a severance pay of two to four months, based on tenure, and family health insurance cover will remain till end of January 2020.
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A few links for further reading
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