Friday Morning News Brief, June 9

Friday morning brief Jun 9 2017
Good morning!
Here’s everything you need to know to start your day…
The co-founders of Infosys are exploring sale of their entire 12.75% stake in the company worth about Rs 28,000 crore. This stunning move is said to have been triggered by the promoters’ unhappiness over the manner in which the company has been run since their exit three years ago. Infosys co-founders, Narayana Murthy, Nandan Nilekani, Kris Gopalakrishnan, SD Shibulal and K Dinesh, hold neither executive nor non-executive roles in the company anymore. Still, their exit moves, coming at a time when the sector is facing business uncertainties, could act as an overhang on the stock price.
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Sacked FBI director James Comey said Russia had interfered with the US presidential polls and President Trump later directed him to lay off the probe. “It’s my judgment that I was fired because of the Russia investigation,” Comey said in a testimony before the Senate Intelligence Committee. “There should be no fuzz on this that the Russians interfered in our election..that’s about as un-fake as you can get,” Comey maintained, adding that the US was a “shining city on the hill,” and the Russians did not like it.
Britain’s political future was thrown wide open after a shock exit poll indicated that Prime Minister Theresa May might not win a majority after. The pound fell sharply amid fears that the Conservative leader will be unable to form a government and could even be forced out of office, after a troubled campaign overshadowed by two terror attacks. The exit poll published as voting closed late Thursday projected May’s party could fall from 330 to 314 seats, short of an overall majority in the 650-seat House of Commons.
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The 5 farmers who were killed during clashes in Mandsaur died due to police firing, the state government said in a report sent to the home ministry. The report clears up the air over the firing as the state had initially claimed that police had not fired on the agitating farmers. It says police resorted to firing after the protesters turned violent. The farmers, who were demanding a loan waiver, had allegedly set 25 trucks ablaze and two police vans along the Mhow-Neemuch highway on Tuesday.
The Islamic State claimed it killed two Chinese nationals kidnapped in Pakistan’s southwestern Balochistan province last month. A Balochistan government spokesman said officials were in the process of confirming “whether the report is true”. Armed men pretending to be policemen kidnapped the two language teachers in the provincial capital, Quetta, on May 24. The kidnapping was a rare security incident involving Chinese nationals in Pakistan, where Beijing has pledged $57 billion for its “Belt and Road” plan.
Copyright @ 2017 Bennett, Coleman & Co. Ltd.

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