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Thursday Evening News Brief, April 19

Apr 19, 2018
Thursday evening brief Apr 19 2018
Good evening!
Here’s everything that transpired during the course of the day…
It was 20 minutes of terror for 149 people on board Southwest Airlines flight 1380 as the plane’s left engine exploded midair after one of its fan blades broke off. The flight was above 30,000 feet on its way from New York to Dallas, when a gust of shrapnel blew out a window, partly sucking one passenger in Row 14 headfirst into the sky. Oxygen masks dropped down, and the plane plunged thousands of feet in a minute. Over the next 20 minutes, the depressurized cabin air swirled with wind and debris, panic and prayers as the pilot rerouted the plane to Philadelphia for an emergency landing.
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The Supreme Court (SC) today ruled there would be no independent investigation into the circumstances surrounding judge BH Loya’s death. The court said the plea to investigate the judge’s death was “bereft of any truth”, and added that it was an attempt “to malign the judiciary”. It further said judge Loya died a natural death and there was no doubt about that fact. The court rapped the petitioners and said it would have been ideal to initiate contempt proceedings against them in the case where political rivalry was brought to court to malign the judiciary.
Amid shortage of currency notes in various cities of India, SBI Chairman Rajnish Kumar has said that problem of cash crunch will be resolved by tomorrow. Kumar said that currency is being sent to states facing shortage of notes. Reacting to reports of the currency shortage, SBI had earlier said the currency in circulation breached the pre-note ban levels of Rs 17.84 trillion and added that such reports are “intriguing and defy logic”. Read more
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The Supreme Court today allowed the Sahara Group to sell its property inside Aamby Valley till May 15. The court allowed Sahara to choose any parcel of its property in the Aamby Valley city project in Maharashtra and deposit the proceeds from sale with the SEBI-Sahara refund account. The bench made it clear that if the Sahara Group fails to sell its property by the stipulated date, the Bombay High Court’s official liquidator will proceed with the proposed auctioning process to sell the property.
India’s largest IT services company Tata Consultancy Services (TCS) announced its fourth quarter (Q4) results today. During January-March quarter, the company reported a net profit of Rs 6,925 crore, up 4.57 per cent against Rs 6,622 crore posted in the same quarter last year. The company’s revenue from operations stood at Rs 32,075 crore in Q4, up 8.2 per cent on year-on-year basis. Read more
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