Top headlines: India says Covid deaths falling; bank unions call for strike

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No Covid-19 deaths in last 24 hours in 15 states, union territories: Govt

Fifteen states and Union Territories have not reported any death due to Covid-19 in the last 24 hours, the government said on Tuesday, indicating the pandemic could be waning in the country. Seven states and Union Territories have not reported a fatality in the last week, said government officials at a press conference in Delhi. India remains the second most-affected nation in terms of Covid-19 cases, but deaths due to the disease are declining and recoveries increasing. There is a 55 per cent decline in average daily Covid-19 deaths reported in the last five weeks, said Rajesh Bhushan, Secretary in the Union Health Ministry. Read more

Up to 10% of LIC IPO issue to be reserved for policyholders: MoS Finance

Up to 10 per cent of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said on Tuesday. The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, he said. "In the Finance Bill 2021-22, it has been proposed to have a reservation on a competitive basis, to an extent of up to 10 per cent of the issue size, in favour of life insurance policyholders of LIC," Thakur said in a written reply to a query in the Rajya Sabha. Read more

Bank Unions plan to go on strike against privatisation on March 15-16

Bank Unions have threatened to go on strike on March 15 and 16 against the government's plan to privatise Banks. C H Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA) said that a meeting of United Forum of Bank Unions was held at Hyderabad today. The meeting adopted a Resolution urging upon the Government to reconsider their standpoint and find amicable solutions to the demands of the farmers. Read more

Amazon-Mukesh Ambani spat tests India's allure for foreign investors

The tussle between two of the world’s richest men -- Jeff Bezos and Mukesh Ambani -- to dominate India’s estimated $1 trillion retail market is testing foreign investor patience with flip-flopping court rulings. This week saw new developments in Amazon.com Inc.’s legal battle to block Ambani’s Reliance Industries Ltd. from acquiring Future Retail Ltd.’s assets, in what would be the country’s largest retail-sector deal. Last week, a single judge at a high court in New Delhi restrained Future Group firms from selling their assets. On Monday, a set of judges at the court overruled that decision. Amazon can appeal the latest ruling in the country’s Supreme Court. Read more

Alphabet's VC arm backs OnePlus co-founder Carl Pei's 'Nothing' Company

The co-founder of smartphone brand OnePlus said Alphabet Inc.’s venture capital unit not only led the latest funding round for his new company, but entirely financed it. Carl Pei said his London-based startup -- called Nothing -- was developing a pair of wireless headphones as well as a suite of smart, connected consumer electronics. The headphones would be released in the summer with other products following later in the year. Pei has big-name investors from earlier raises, including Kevin Lin, co-founder of Amazon.com Inc.’s Twitch; Steve Huffman, co-founder and CEO of Reddit; and Tony Fadell, who created the iPod at Apple Inc. and went on to found Nest Labs, now owned by Alphabet Inc.’s Google. Read more