Top headlines: Reliance Retail-KKR deal, cash fertiliser subsidy proposed

From KKR-Reliance deal, residential property deals on the slide to passage of labour reform bills, Business Standard brings you top news of the evening

KKR to invest Rs 5,550 crore in Reliance Retail Ventures for 1.28% equity

Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 per cent equity share, Reliance Industries Limited said in a BSE filing on Wednesday. This marks the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year. KKR's investment values Reliance Retail at a pre-money equity value of Rs 4.21 trillion. Read More...

Govt panel suggests cash fertiliser subsidy of Rs 5,000 per year per farmer

The Commission for Agricultural Costs and Prices (CACP), the Indian government’s advisor on minimum support price for major farm products, has for the first time recommended a cash fertiliser subsidy to farmers to the tune of Rs 5,000 per year. The panel has suggested that this should be done in two tranches of Rs 2,500 each — in the kharif and rabi seasons. If the government accepts this recommendation, the ongoing practice of transferring subsidy to fertiliser producing companies will be discontinued. Read More...

Residential property deals and rentals skid in metros on Covid-19, WFH

In a newly developed residential property in Worli area, rents have come down from Rs 1,10,000 to Rs 1,20,000 per month from Rs 140,000 to Rs 150,000 within a period of four months, said a local broker who did not want to be quoted. Work from home played a major role in buying behaviour and preferences of people. Even landlords are desperate for tenants. Read More...

No coercive action against Facebook VP till Oct 15: SC to Delhi panel

The Supreme Court Wednesday directed a Delhi Legislative Assembly panel not to take coercive action against Facebook India VP and MD Ajit Mohan till October 15 in connection with a summon asking him to depose before it with regard to north east Delhi riots. The panel is probing the social media firm's role in spread of alleged hate speech. Read More...

Parliament passes 3 key labour reform bills amid boycott by oppn parties

Parliament on Wednesday approved three key labour reform bills that will remove impediments for winding up of companies and allow firing of staff without government permission in firms with up to 300 workers. Amid boycott by opposition parties including Congress and Left over suspension of eight MPs, Rajya Sabha passed by voice vote the three remaining labour codes on industrial relations, social security and occupational safety. Read More...