Tata Consultancy Services (TCS) has announced annual salary hikes effective April 1, with top performers receiving double-digit increases, while also renewing its multi-year strategic partnership with UK retailer Marks & Spencer (M&S) to support its omnichannel and data-driven transformation with AI.
India has gained one more festival -- the season of Black Friday.
At an estimated 1.9 billion in losses and over 5,000 UK organisations affected, the Jaguar Land Rover cyberattack has been labelled the most economically damaging cyber incident in UK history, exposing the deep vulnerability of interconnected supply chains.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
According to an M&S spokesperson, the 35 per cent price cut and an expansion in its store network will help the brand in widening its customer base.
Britain's clothing and food retailer Marks & Spencer will set up of a joint venture firm with Mukesh Ambani-led Reliance Retail at an investment of 29 million pounds (around Rs 230 crore) to mark its foray into India.The British company will hold a 51 per cent stake in the JV, to be named Marks and Spencer Reliance India Pvt Ltd, while the remaining will be with Reliance Retail.
It plans to add ten stores in the next six to eight months.
Viva Global has about 400 workers, of which about 100 have been dismissed and another 200 are on an indefinite agitation outside the factory in Gurgaon, says the workers union.
It had signed a joint venture with Reliance Retail to form M&S Reliance India Private Limited in April 2008.
Marks & Spencer Reliance is the joint venture between the Mukesh Ambani-promoted Reliance Retail and the British department store chain, Marks & Spencer group. The first store would have around 40 employees and would offer men's, women's and children's garments besides various household items.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
Marks & Spencer, the leading international departmental store, has drawn up ambitious expansion plans in India and China, starting as early as next year, its chief executive Stuart Rose has said.
Talks to sort out the 10-day workers' agitation at the Gurgaon apparel factory of Viva Global, a supplier to British retail outlet Marks & Spencer, got postponed.
The two-year-old project, rolled out with WWF India as the local partner, has enthused the retailer to consider such projects in other cotton-producing areas in India and other parts of the world.
Having 50 stores in India, it plans to double the number.
Marks & Spencer, leading international departmental, has drawn up ambitious expansion plans in India and China starting as early as next year, its chief executive Stuart Rose has said.
M&S operates in a joint venture with Reliance Retail.
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