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Biz EOD: Singh brothers and Bhasmasur, telecom jobs at risk, steel production retracts

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twitter-logo BusinessToday.In   New Delhi     Last Updated: October 31, 2019  | 23:47 IST
Biz EOD: Singh brothers and Bhasmasur, telecom jobs at risk, steel production retracts
Top stories from the world of business and economy.

Singh brothers accuse each other of large-scale fraud and corruption. The Indian telecom sector is staring at 40,000 job cuts. India's steel production growth rate slowed down to a 5-month low of 1.6 per cent in September this year due to the slump in key sectors like automobiles, consumer durables and a decline in spending on infrastructure. Read for more top stories from the world of business and economy:

1. About 40,000 telecom jobs at risk after SC verdict on AGR

The AGR dispute is going to disrupt the finances of telcos like Airtel and Vodafone Idea. Airtel, for instance, will have to shell out Rs 21,682 crore, while Vodafone Idea's payout will be much bigger at Rs 28,308 crore

2. 'Yes, there is economic slowdown, but it's temporary,' says Mukesh Ambani

Mukesh Ambani said, "All the reform measures that have been taken in the last few months will see the outcome and I am quite sure that in coming quarter this will reverse."

3. India's steel production growth retracts to five-month low amid auto, infra slowdown

The slackened pace of growth in steel production comes on the back of a sharp decline in growth in consumption of steel in the domestic market.

4. Shivinder Singh likens Malvinder Singh to 'Bhasmasur'

Both the brothers accuse each other of large-scale fraud and corruption; Shivinder says Malvinder should be removed as the holding company's director; Malvinder says his brother filed the suit against him only to stop RHC Holding from demanding money from Gurinder Singh Dhillon-led RSSB.

5. Flipkart faced multiple sexual harassment complaints in FY19

Interestingly, the action taken against the complaint filed was that there was conciliation with an undertaking and apology by the respondent.

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