Rajat Gupta’s appeal to overturn conviction fails

New York

A US judge has rejected Rajat Gupta’s fresh appeal to overturn his two-year sentence for insider trading in which the India-born former Goldman Sachs director cited insufficient evidence of him receiving “personal benefit” in exchange for providing tips on company results. PTI

New Delhi
ONGC to cut gas output by 40%

ONGC will cut gas production from its biggest fields in the Arabian sea by around 40% as it carries out repair work on a pipeline that carries the gas to shore. It produces 33 million units per day of natural gas from the Bassein field in the western offshore. PTI

New Delhi
Services sector contracts 

Nikkei India Services Business Activity Index on Friday showed that the services sector contracted for the second consecutive month in June as new orders declined for the first time in 14 months. PTI

New Delhi
Nestle to resume export of Maggi noodles

Nestle is in the process of resuming exports of its Maggi instant noodles to various markets after it got a go-ahead from the Bombay HC earlier this week. It has started the logistical arrangements to resume the exports. PTI