Top headlines: AirAsia ceases Japan operations, TCS m-cap, and more

Here are the top business headlines on Monday

AirAsia ceases Japan operations, says recovery 'extremely challenging'

AirAsia Group Bhd. will cease operations in Japan immediately as it tries to reduce cash burn amid the coronavirus outbreak that’s wiped out travel demand globally. AirAsia Japan has stopped operations as of Monday, Southeast Asia’s second-biggest budget carrier said in a statement. That will help the parent conserve cash. Further steps on the decision will be made in accordance with applicable laws and regulations including the Japan Civil Aeronautics Act, it said. Read more...
 

Loan moratorium case: SC grants Centre, RBI a week to file affidavits

The Supreme Court on Monday adjourned the hearing in the loan moratorium case to October 13. The bench granted an additional week's time to the government to file the affidavit recounting the guidelines, notifications and circulars that have been taken by the RBI and Union government. Read more...
 

Mallya extradition: Centre says not aware of 'secret proceedings' in UK

The Centre on Monday told the Supreme Court that "secret" extradition process was going on to bring fugitive businessman Vijay Mallya to the country but it was not aware about its status. The Centre also told the top court that it was not a party to the proceedings. A bench of Justices U U Lalit and Ashok Bhushan asked Mallya's lawyer to inform the court what kind of "secret" proceedings are going on to extradite him. Read more...
 

TCS m-cap hits Rs 10 trn, Wipro at 20-yr high; analysts see more gains

Shares of information technology (IT) companies were on a roll at the bourses on Monday, after Tata Consultancy Services (TCS) announced share buyback plan amid expectation of strong earnings in the July – September quarter of the current fiscal (Q2FY21). And if analysts are to be believed, IT stocks still have more steam left. Read more...
 

Three win Nobel medicine award for discovering Hepatitis C virus

Americans Harvey J Alter and Charles M Rice, and British scientist Michael Houghton were awarded the Nobel Prize for Medicine or Physiology on Monday for the discovery of the hepatitis C virus. Announcing the prize in Stockholm on Monday, the Nobel Committee noted that the trio's work helped explain a major source of blood-borne hepatitis that couldn't be explained by the hepatitis A and B viruses. Read more...