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Biz EOD: No relief for telcos in AGR row; WPI inflation worst in 8 months; CCI defends probe against Amazon

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twitter-logoBusinessToday.In | February 14, 2020 | Updated 22:03 IST
Biz EOD: No relief for telcos in AGR row; WPI inflation worst in 8 months; CCI defends probe against Amazon
Top stories from the world of business and economy.

In what seems like an end of road for the telecom operators, the SupremeCourt denied any relief to them on the AGR (adjusted gross revenues) issue.India's Wholesale Price Index (WPI) inflation worsened to 3.1 per cent inJanuary from 2.59 per cent in December, registering a 0.51 per cent increase.The Competition Commission of India (CCI) told Karnataka High Court thatAmazon's claim that the commission did not follow due process in its probeagainst the company and rival Flipkart is a "mischievous one". Read for more top stories from the world of business and economy:

1. What's next for Vodafone Idea, Bharti Airtel after Supreme Court's AGR blow?

AGR row: Soon after the court judgement, Airtel said that it's in the process of doing self-assessment of the dues, and shall submit Rs 10,000 crore by February 20.

2. CBDT backs PM Modi's claim; says only 2,200 professionals declared income above Rs 1 crore in FY19

PM Modi drew flak for his comments recently only 2,200 professionals declared income above Rs 1 crore per annum but CBDT has clarified that it's true.

3. India's wholesale inflation rose to 8-month high of 3.1% in January

Wholesale Price Index: This is highest inflation figure in past eight months as last time wholesale inflation touched 3.1 per cent was in April 2019. Before that, it touched 3.46 per cent in December 2018.

4. SpiceJet Q3 net profit soars 21% to Rs 78 crore despite 737 MAX troubles

SpiceJet reported growth in air transport services during the December quarter, as segment results for the period almost doubled to Rs 115.05 crore from Rs 58.55 crore from the year-ago period.

5. CCI defends probe against Amazon; says company's claim unfounded

CCI counsel told Karnataka High Court that law gave the commission full jurisdiction to investigate Amazon for potential anti-competitive activity.

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