Business highlights

Following are the top business stories at 1920 hours: DEL60 BIZ-LD INFLATION Retail inflation eases to 7.04 pc in May on softening food, fuel prices New Delhi: Retail inflation eased to 7.04 per cent in May, mainly on account of softening food and fuel prices as the government as well as the RBI stepped in to control spiralling price rise by way of duty cuts and repo rate hike.

DCM29 BIZ-NCLAT-2NDLD AMAZON NCLAT rejects Amazon's appeal against CCI order suspending Future deal New Delhi: In a major setback to Amazon, the National Company Law Appellate Tribunal (NCLAT) on Monday rejected the US e-commerce giant's appeal against an antitrust suspension of its investment deal with Future Group, saying the retailer had not made full disclosures at the time of seeking approval.

DEL51 BIZ-LD STOCKS Sensex crashes 1,457 points as scorching US inflation jolts global markets; investors poorer by Rs 6.64 lakh cr Mumbai: Dalal Street sank in a sea of red on Monday, mirroring a meltdown in global equities, as investors braced for steeper rate hikes by the Federal Reserve after US consumer inflation soared to a four-decade high.

DEL61 BIZ-LD ONLINE FOOD Govt asks Swiggy, Zomato and others to submit plans in 15 days for improving complaint redressal New Delhi: The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers.

DCM6 AVI-AAI-DIVIDEND AAI seeks waiver of annual dividend payment for 2021-22 fiscal New Delhi: Airports Authority of India (AAI) has requested the government to waive the compulsory dividend payment requirement for the financial year ended March 2022, in lieu of the waiver of Air India's dues done prior to the sale of the carrier.

DCM15 BIZ-MUTUAL FUNDS Debt mutual fund sees Rs 32,722-cr outflow in May on rising interest rates New Delhi: Mutual funds focused on investing in fixed-income securities witnessed a net outflow of Rs 32,722 crore in May in the wake of Reserve Bank of India (RBI) stance on monetary policy turning hawkish to tackle inflation driven by global factors.

DCM22 BIZ-RICE FORTIFICATION Phase-2 of fortified rice distribution starts; 90 high burden districts covered in Apr-May New Delhi, Jun 13 (PTI) The Centre has kick-started the phase-II distribution of fortified rice to high-burden districts via ration shops from April 1 and so far 90 districts have been covered out of 291 targeted, Food Secretary Sudhanshu Pandey said on Monday.

DCM28 BIZ-STOCKS-LD WEALTH Investor wealth tumbles over Rs 9.75 lakh crore in two days of market crash New Delhi: Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday.

DEL45 BIZ-RUPEE-CLOSE Rupee falls 20 paise to close at record low of 78.13 against US dollar Mumbai: The rupee plunged 20 paise to close at an all-time low of 78.13 against the US dollar on Monday, as a lacklustre trend in domestic equities and stronger greenback overseas weighed on investor sentiments.

DEL35 BIZ-GOLD-PRICE Gold lower by Rs 321; silver tanks Rs 874 New Delhi: Gold prices declined by Rs 321 to Rs 51,270 per 10 grams in the national capital on Monday in line with lower global prices, according to HDFC Securities.