Indian-origin billionaire brothers Mohsin and Zuber Issa are set to acquire a majority stake in the leading UK supermarket chain Asda from its US owner Walmart after a $ 8.8-billion deal was struck as part of a consortium involving private equity firm TDR Capital.
British supermarkets and pubs are set to enjoy a boost to trade this weekend as families and friends gather for breakfasts and barbecues to watch England's Lionesses play Spain in the Women's World Cup soccer final in Australia.
Walmart has 8,500 stores in 15 countries, under 55 different names.
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Almost eight months after Noel Tata stepped down as managing director of Trent, retail arm of the Tata Group, the company said it had appointed Philip Auld as chief executive officer.
The Advertising Standards Authority yesterday ruled that the company has shown an 'unfair' comparison in the advertisements to claim that a selection of goods sold at its stores are cheaper than those of rival retailers Asda and Wm Morrison. ASA said that 'ads must not appear again in their current form,' as it found that 'both ads were likely to mislead.'
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
At present, India has 56,999 fuel outlets. Of those, only 6,276 are owned by private companies
Though it is often said that Indian Railways is the largest employer in the world, but it seems it is not
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
With about 2,000 qualified engineers to service ATMs across the country, it is an uphill task to modify 220,000 machines.
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