Top headlines: Google to invest in Jio, Apple against EU tax order and more

Here are the top headlines on Wednesday

Infosys posts 11.4% YoY rise in Q1 net at Rs 4,233 cr; beats estimates

Information technology (IT) major, Infosys, on Wednesday reported an 11.4 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 4,233 crore for the April-June quarter of the financial year 2020-21 (Q1FY21). In the year-ago period, the company had logged a profit of Rs 3,798 crore. Sequentially, the numbers fell 1.45 per cent. Infosys' revenue for the quarter under review stood at Rs 23,665 crore, up 8.5 per cent YoY. In constant currency (CC) terms, revenue grew 1.5 per cent YoY. Read more

Developing 5G tech; Google to invest Rs 33,737 cr for stake in Jio: Ambani

Richest Indian Mukesh Ambani on Wednesday announced that his group's digital arm Jio was developing a homegrown 5G telecom solution. Ambani also welcomed Google as a strategic investor in Jio Platforms. " We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," he said. Read more here

Maruti recalls 134,885 units of WagonR, Baleno to fix faulty fuel pumps

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it is recalling 1,34,885 units of WagonR and Baleno models to inspect and replace faulty fuel pumps. Read more here

Biden plans to reduce waiting time for Indians for work-based green cards

US leader Joe Biden, the presumptive Democratic Party nominee for president, has announced an immigration agenda that will end the country-wise green card caps for employment visas so that wait times stretching to decades for Indians can be reduced if he is elected. Read more here

Covid-19 update: Hetero Healthcare Ltd starts supply of generic Remdesivir

Hetero Healthcare Ltd is supplying 60,000 vials of Covifor, generic version of Remdesivir injection in the country from July 13 to 20, the company website said. Read more here

Skill, re-skill, up-skill to stay relevant: PM Modi tells India's youth

The coronavirus pandemic has changed the workplace and people have to "skill, re-skill and up-skill" themselves to stay relevant for employment, said Prime Minister Narendra Modi on Wednesday. Read more here

Crunch time for Apple in fight against $15 billion European Union tax order

Apple's clash with EU competition regulators comes to a head on Wednesday as Europe's second-highest court rules on whether it has to pay 13 billion euros ($15 billion) in Irish back taxes, a key part of the EU's crackdown against sweetheart tax deals. Read more here