US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Amphibious drones for maritime inspection... devices that extract pure oxygen from water for patients in need... self-balancing electric bikes...
Future Consumer Enterprise Ltd, the food and FMCG arm of Kishore Biyani-led Future Group, on Friday acquired south India-based convenience store chain Nilgiris for nearly Rs 300 crore (Rs 3 billion).
Shailesh Jejurikar has 'always made an effort to stay close to his roots.'
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Global tech major Adobe Systems' chief executive Shantanu Narayen on Thursday said creativity, and not software code, will be the main driver of India's economy in the future.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
A Chinese student who drugged and raped women in the United Kingdom and China was sentenced to life in prison on Thursday, in a case that a senior British police officer said had uncovered 'one of the most prolific predators we've ever encountered', The New York Times reported.
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
Puri said ITC will focus on health and wellness products within the FMCG vertical. He also said the company will attempt to reinforce the existing categories in the FMCG segment.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Ajit Balakrishnan recalls some lessons from the last time people talked of 'convergence' -- the mid-1990s.
During the conversation with the owners, Gandhi delved into the fascinating journey of the iconic start-up that seamlessly blends legacy with modern ambition.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
Dabba Cartel's reluctant black comedy in the body of a crime thriller starts out interestingly enough to accomplish its Narcos: Thane aspirations, notes Sukanya Verma.
'Along with Blackstone, we would be keen to look at opportunities in the North.'
It has invested $2 billion and spent $200 million on its R&D centre in Bengaluru, the largest such centre outside China where some core technologies are under development.
ZEE Entertainment Enterprises Ltd on Friday said its MD & CEO Punit Goenka has initiated a process of rationalisation of workforce by 15 per cent to prune staff strength across the company. In a regulatory filing, ZEE Entertainment Enterprises Ltd (ZEEL) said Goenka has proposed a lean organisation structure to the board with a lateral structure while identifying broadcast, digital, movies and music as core business units. "In line with his overall strategic approach, the MD & CEO has initiated the process of rationalisation of the workforce by 15 per cent, that will prune the staff strength across the company to arrive at a streamlined team that is sharply focused on the set goals for the future," the company said.
He's betting big on small stores to help him reach 10 million households by FY21, report Abhineet Kumar and Raghavendra Kamath.
When AI is used to enhance operational efficiency, businesses can deliver the same product or service but with improved quality, faster, or even at a reduced cost
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
Milk supplies could improve with the monsoon, provided the rains are not excessive.
Unilever completed one of the largest cloud migrations in the consumer goods industry, with a little help from Accenture and Microsoft, and has become a cloud-only enterprise. Accenture and Microsoft, together with their joint venture, Avanade, worked with Unilever to deliver the transformation in 18 months with minimal disruption to business operations, Accenture said in a release. The release added that it has not only helped ensure and optimise operations for Unilever but also provides a platform to drive innovation and growth.
The programme being outlined under the aegis of the ministry of heavy industries and public enterprises is part of the National Electric Mobility Mission Plan 2020.
HUL and Genpact aim to enable these businesses to eventually get absorbed into the supply chains of large consumer companies, including that of HUL. In 2021, the maker of Sunsilk shampoos committed to spending Rs 2,000 crore annually with diverse businesses by 2025, Ansu Archana, procurement director, beauty & wellbeing, HUL, told Business Standard. Archana added that the program aligns with Unilever's wide-ranging set of commitments and actions to help build a more equitable and inclusive society.
Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Developers in India now have expanded access to Google's powerful AI models with the 2 million token context window in Gemini 1.5 Pro and Gemma 2, the next generation of open models.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
'You will see more and more people working independently -- starting beauty parlours, driving cars, etc.' This is what we call the gig economy.' 'The same people who have been laid off in India or are unable to get visas to work in the US may be part of this gig economy.' 'India needs billions of jobs, and it can only be created by self-employment or the gig economy.'
Taking control of manufacturing will help boost profits for the food business, but it could leave the group saddled with huge debt.
Prime Minister Narendra Modi on Thursday suggested the G20 trade ministers to work collectively to ensure equitable competition between large and small sellers as there are challenges in the fast growing cross-border e-commerce. In a video message at the G20 Trade and Investment Minister's meeting here, he also emphasised on the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms. "Digitising processes and use of e-commerce have the potential to enhance market access. "I am glad that your group is working on the 'High Level Principles for the Digitalization of Trade Documents'. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens.
Harshala Chandorkar, chief operating officer, CIBIL, explains your rights and duties as a responsible consumer
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