News digest: Pharma firms face price heat, markets log new highs, and more

From markets logging new highs to why the leather city can't save its hide, BS brings you up to speed with latest news

Four pharma firms face US price-fixing charge
As many as four Indian drugmakers are facing allegations of a huge price-fixing conspiracy in the US aimed at keeping prices of generic drugs artificially high. The companies are Dr Reddy’s Laboratories (DRL), Glenmark Pharmaceuticals, Sun Pharmaceutical Industries, and Emcure Pharmaceuticals. Read more

 Doing business is easier, says India Inc

Top CEOs have cheered India’s improved position in the World Bank’s ranking of countries on ease of doing business, and said the situation on the ground has improved considerably in the past few years and a successful roll-out of the goods and services tax (GST) will help the country further improve its rankings in the coming years. Read more

 One year of demonetisation: Why Kanpur can't save its hide from note ban

On November 8 last year, Prime Minister Narendra Modi announced the withdrawal of legal tender status to Rs 500 and Rs 1,000 notes. The move, which drained out 86% of currency in circulation, caused massive economic disruption. While remonetisation subsequently gathered pace, economic activity was disrupted again by the shift to GST. To understand how businesses have fared over the past year, Business Standard spoke to entrepreneurs in Kanpur, Tirupur, Bhiwandi, and Ludhiana. Read more

Markets log new highs buoyed by jump in 'ease of doing business' ranking

Equities surged to record highs on Wednesday after India moved up several notches in the World Bank’s ease of doing business rankings. Investor sentiment was also boosted by optimism about global economic growth over data in the US and China, the world’s largest economies.  Read more