Top headlines: Ford shuts India plants, S&P revises Bharti Airtel outlook

Business Standard brings the top headlines of the day

Ford India will stop manufacturing vehicles in India but retain the engine-making and technology services business.  S&P Global on Thursday revised telecom firm Bharti Airtel’s outlook to “stable” from “negative".

Here are the top headlines of the day:

Ford to stop making vehicles in India amid mounting losses and poor sales

Ford India will stop manufacturing vehicles in India but retain the engine-making and technology services business (Global Business Services) as part of restructuring its India operations. Approximately 4,000 employees are expected to be affected by this. Read more. . .

S&P Global revises Bharti Airtel outlook to 'stable' from 'negative'

Ratings agency S&P Global on Thursday revised Bharti Airtel’s outlook to “stable” from “negative,” on the back of the company's operating fundamentals and superior leverage management. Read more. . .

India's industrial sector grows, manufacturers continue to struggle

India’s industrial sector has seen a recovery from the lows of the first wave of the pandemic last year but the revival is being led by commodity producers such as metals and oil & gas companies while manufacturers such as auto firms and makers of consumer goods continue to struggle. Read more. . .

China's app ban proves to be a jackpot for Indian mobile apps

Eighteen months after the government started banning Chinese mobile apps, two distinct changes have occurred in the country’s mobile app sweepstakes. The move has given a thrust to domestic app publishers, especially in certain segments and it has dramatically reduced the market share of Chinese apps. Read more. . .

All eyes on Central Bank, Indian Overseas Bank after UCO exits PCA

After UCO Bank's exit from the prompt corrective action (PCA) regime, two public sector lenders - Indian Overseas Bank and Central Bank of India - are waiting to get out of the framework as well. The Reserve Bank of India (RBI) is examining the performance of both banks. Read more. . .