A look at the headlines in the sector right now:
- Flipkart, Paytm founders lead $1-million investment round for online learning platform Unacademy: The startup, which claims to have grown to 1 million video views a month, had secured $500,000 in funding just four months earlier.
- ED issues summons to Nalini Chidambaram over Saradha scam after accused Sudipta Sen names her: The former finance minister’s wife was summoned in connection with fees paid to her by Manoranjana Sinh, the estranged wife of scam-accused Matang Sinh.
- Railways revises freight rates for coal, hikes charges for medium distances: It also imposed a fee of Rs 55 per tonne at loading and unloading terminals of coal for distances more than 100 km, making transporting coal more expensive.
- TCS settles lawsuit with California’s Orange County for $26 million: In 2013, the county had sued the Indian company for allegedly making “a series of false promises and intentional misrepresentations” while bidding for a contract.
- Cabinet clears draft Bill seeking ‘complete ban’ on commercial surrogacy: The proposed law will allow childless couples to seek help only from a close relative and also bar foreigners and expatriates from having surrogate babies.
- Google begins official rollout of Android 7.0 Nougat: Earlier, the California-based company had released 5 Developer Previews of the latest iteration of its mobile operating system.
- Amazon’s sales may have overtaken Flipkart’s in July, reports Mint: The business daily clarified that the figures reported by Flipkart did not include revenues from Myntra or Jabong.
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