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News Wrap Oct 1: Tata Sons likely Air India bid winner; OYO's IPO details; Zee rejects EGM request and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

News Wrap Oct 1: Tata Sons likely Air India bid winner; OYO's IPO details; Zee rejects EGM request and more
The Zee board on Friday refused to hold an extraordinary general meeting sought by Invesco calling the shareholder’s requisition notice invalid. Meanwhile, sources say Tata Sons has likely emerged victorious bidding for the national carrier Air India. Hospitality firm OYO has filed papers with SEBI to raise over Rs 8,000 crore by floating an initial public offering (IPO). On the global front, US consumer spending rose 0.8 percent in August, up from a decline of 0.1 percent in July. For all these stories and everything in between, here are some top news of the day
ECONOMY/BUSINESS
Tata Sons bags Air India, formal announcement awaited 
Tata Sons has likely emerged victorious bidding for the national carrier Air India as an Amit Shah-led panel is likely to have approved the bid, sources said. However, an official comment is awaited. Read more
Zee refuses to call EGM sought by Invesco, says requisition notice not valid 
The board of Zee Entertainment has unanimously concluded not to hold the extraordinary general meeting sought by Invesco, the company said Friday. Read more
DoT confirms TRAI's recommendations for levy of penalty on Airtel, Vodafone Idea 
The Department of Telecommunications has confirmed Telecom Regulatory Authority of India (TRAI) recommendations for levy of penalty on Airtel and Vodafone Idea (VI). The telecoms are expected to make a payment of Rs 3,000 crore in a week. Read more

MARKETS
Paras Defence makes best debut so far in 2021; shares list at 170% premium 
Paras Defence and Space Tech shares made the best debut so far in 2021, clocking listing gains of 170 percent on the Bombay Stock Exchange (BSE). Dig deeper

OYO Rooms files papers with SEBI for Rs 8,430-crore IPO 

Hospitality firm OYO Rooms has filed official papers with market regulator SEBI to raise over Rs 8,000 crore by floating an initial public offering (IPO). Dig deeper
US Fed tapering in November less likely if market falls: Bank Julius Baer 
The chances of tapering by the US Federal Reserve are less if the stock market continues its downward journey, Mark Matthews of Bank Julius Baer & Co said. Dig deeper

INTERNATIONAL
US consumer spending rebounded in August despite COVID
US consumer spending accelerated in August amid a surge in COVID-19 cases, even as soaring demand and snarled supply chains kept inflation high. Consumer spending rose 0.8 percent in August, up from a decline of 0.1 percent in July. Income rose by a smaller 0.2 percent, the Commerce Department reported. Read more
OPEC+ considers options for releasing more oil to the market
OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said, against a backdrop of oil near a three-year high and pressure from consumers for more supply. Read more 
EU postpones trade talks with Australia amid submarine deal fallout
Australia's Minister for Trade Dan Tehan said talks with the European Union over a trade deal have been postponed, as a row over Canberra's decision to cancel a $40 billion deal with France escalates. Read more 
INDIA
PM Modi launches second phase of Swachh Bharat Mission-Urban, AMRUT
Prime Minister Narendra Modi on Friday launched the second phase of the Swachh Bharat Mission-Urban and the Atal Mission for Rejuvenation and Urban Transformation, asserting that these missions were aimed at making the cities garbage-free and water secure. Read more 
DU admission 1st list: JMC, Hansraj issue 100% cut-off for these courses
The Delhi University released the first cut-off list while various colleges also announced their individual cut-off list for admission to various under-graduation courses. Several colleges have set the cut-off of a few courses at 100%. Read more 
Mumbai schools to reopen: Ground report on schools’ preparedness
The Brihanmumbai Municipal Corporation (BMC) has issued a detailed Standard Operating Procedure (SOP) as schools in Mumbai are set to resume physical classes for standard 8-12 from October 4. Read more

YOU & I
Celebrity Instagram content linked to negative feelings, Facebook researchers say
Major social media stars including Kim Kardashian, Justin Bieber and Charli D'Amelio are among celebrities whose Instagram followers experience more negative feelings about their self-image, according to internal Facebook research. Dig deeper
In pics: Here're 10 most expensive countries to live in the world

Here are the ten most expensive countries to live in with the highest cost of living, according to Numbeo's Cost of Living Plus Rent Index based on 2020 data. Take a look 

FAQs: RBI's new auto-debit rules kick in; here are answers to all your queries 
The new auto-debit rules come into effect today as mandated by the Reserve Bank of India (RBI). As a result, the automatic recurring payment for various services including recharge and utility bills will remain impacted and an additional factor of authentication (AFA) will become mandatory. Read more 
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