Top 10 biz headlines: Telcos pay spectrum dues, Vivo-Ogilvy spat, and more

From telcos paying their dues to the government to Vivo-Ogilvy spat, here are the top 10 business headlines on Wednesday

Jio, Vodafone Idea, Airtel pay govt over Rs 4500 crore in spectrum dues

Private telecom operators Reliance Jio, Vodafone Idea and Bharti Airtel have paid the Telecom Department over Rs 4,500 crore in spectrum dues in the last three to four days, according to sources. Sources said that the payments came in before the due date. Read More

Nilekani steps in as Infosys investors fume over whistleblower complaints

Infosys co-founder and company Chairman Nandan Nilekani has once again emerged as the man of the moment even as the firm he grapples with another crisis-like situation and an erosion of more than Rs 53,000 crore in market cap following allegations of unethical practices. Read More

US law firm readies class suit against Infosys to recover losses

In mounting troubles for Infosys, US-based Rosen Law Firm has said it is preparing a class action lawsuit to recover losses suffered by investors in the wake of allegations of "unethical practices" at the IT major. Read More

Car ownership is a trap that can be prevented: Uber CEO Dara Khosrowshahi

Uber Chief Executive Officer Dara Khosrowshahi says the younger generation doesn’t dream of owning a car, but instead wants the freedom of having any service on demand. He also feels that established protocols and industries are the enemies of innovation. Read More

Shapoorji eyes tie-up with IFC, HDFC Capital Advisors for low-cost housing

Shapoorji Pallonji Real Estate is in talks with HDFC Capital Advisors, the real estate fund management arm of HDFC, and International Finance Corporation (IFC) separately, to float a platform to invest and develop low-cost homes across the country, sources in the know said. Read More

L&T's tech twins show contrasting fortunes; LTTS falls 10%, LTI gains 7%

The September quarter (Q2) results and outlook for L&T’s IT twins — L&T Infotech (LTI) and L&T Technology Services (LTTS) — were in contrast, and so was the market reaction. While LTI indicated that the second half would be strong, LTTS cut its growth guidance for the current financial year. Read More

DHFL crisis set to linger on as forensic audit points to fund diversion

In what seems to be more trouble for mortgage lender DHFL, the lenders who are awaiting the final go-ahead for a resolution plan have hit a stonewall, after a forensic audit has reportedly found massive fund diversion by the promoters and thus are averse to lend any additional money to the crippled company. Read More

Vivo-Ogilvy spat: Agency-client relationships have come under scanner again

Advertising agencies have long sparred with each other over instances of copying and plagiarism. But rarely have agencies dragged ‘clients’ into these rifts, choosing not to mar their relationship with advertisers. The ongoing Vivo-Ogilvy spat, however, has rewritten the... well... unwritten rules. Read More

Credit Goes to Buyers for Lifting Festive Sentiment

Consumer credit has peaked this festive season with multiple retailers and brands saying it has surged to a new level as a proportion of overall purchases, bankrolled by nonbanking finance companies (NBFC) and banks, reports Economic Times. That’s in a scenario where consumption has been muted, save on ecommerce platforms, because of India’s economic slowdown and NBFCs have been caught up in a liquidity squeeze.

Investors may Prefer a ‘Safer’ TCS over Infy for Now Amid Uncertainties

Tata Consultancy Services (TCS), India’s largest software firm, is expected to widen its lead over its nearest rival Infosys on the bourses following whistleblower complaints against the latter's executives alleging unethical practices, reports Economic Times. Shares of TCS are being seen as a safer bet compared to Infosys, which posted its biggest oneday loss in six years to end at lowest level since November 2018 on Tuesday.