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Mon, Sep 10 2018. 12 36 PM IST
Jack Ma is going to step down as Alibaba chairman one year from today, going to be replaced by Daniel Zhang. Ma told Bloomberg last week he was looking at a change of life. Ma will officially pass the baton on his 55th birthday next year but remain on the board until 2020. The former English schoolteacher now intends to focus on philanthropy and education but also pursue “new dreams.” he said in a statement Monday. Bloomberg’s Lulu Chen reports on “Bloomberg Markets: China Open.
Wed, Sep 05 2018. 03 06 PM IST
Amazon on Tuesday became the second American company to cross $ 1 trillion in stock market valuation. The Jeff Bezos-founded company and Apple now make up more than 8% of the entire value of the S&P 500, said Howard Silverblatt, Senior Index Analyst for S&P
Mon, Sep 03 2018. 11 43 AM IST
South Korean President Moon Jae-in will send both his national security adviser and top spy as special envoys on a one-day mission to Pyongyang Wednesday ahead of a possible inter-Korean summit this month. Bloomberg’s Jihye Lee reports “Bloomberg Daybreak: Asia.”
Wed, Aug 15 2018. 12 56 PM IST
In his last Independence Day address ahead of the next Lok Sabha elections, Prime Minister Narendra Modi spoke at length about the progress India has made under his government and asserted that its rise is being hailed by the world.
Mon, Aug 13 2018. 04 22 PM IST
Losing your money is one of the worst moments of your life. Losing it to a bad investment decision is even worse. While there is a lot of buzz around mutual fund returns right now, are they really safe? Nidhi Sinha talks with Monika Halan in the 3rd episode of Mutual Funds with Monika to find out.
Thu, Aug 09 2018. 04 56 PM IST
Ikea CEO Jesper Brodin promised Wednesday to meet the “needs, frustrations and dreams” of local consumers with the Swedish firm’s first Indian store, its second attempt to break into a vast but difficult market. Ikea, whose founder Ingvar Kamprad died in January, is present in 49 countries. But its previous attempt in 2006 at reaching India’s burgeoning middle class fell foul of local regulations. This time around, Ikea expects to attract seven million visitors per year to its 13-acre Hyderabad site, the first of 25 outlets it hopes to open across the country of 1.25 billion by 2025. But Brodin admitted having to give Ikea’s business model a local twist of Indian spice to try to attract a vast middle class not used to a company which expects them to assemble products themselves.
Tue, Aug 07 2018. 11 33 AM IST
Indra Nooyi is stepping down as chief executive officer of food and beverage giant PepsiCo Inc., handing the reins to a top lieutenant in a transition that will draw attention to the dearth of prominent female CEOs in corporate America. Nooyi, 62, will leave the role in October and remain chairman until early 2019. Ramon Laguarta, 54, who has been a candidate to take over since a promotion last year to president, will be just the sixth CEO in the 53-year history of the company.
Thu, Aug 02 2018. 02 40 PM IST
Sebi’s re-classification exercise has helped create a level playing field among fund houses, Nilesh Shah, MD of Kotak Mahindra AMC, told Mint. “From our point of view there was a caste system in mutual funds. Some people had different asset allocations based on the time they filed offer documents. That was creating a non-level playing field,” he said. The re-categorisation of mutual funds will also help investors compare apples to apples, he added. Shah was speaking on the sidelines of the Mint Mutual Fund Conclave in Mumbai
Wed, Aug 01 2018. 04 41 PM IST
RBI also raised the average inflation projection for the second half of the year to 4.8% from 4.7% in June. The central bank expects inflation to edge higher to 5% in the first quarter of next fiscal year. The policy statement also cited the implementation of minimum support price hike as the primary factor stoking inflation this year. The government has fixed the MSP at 150% of the cost of production of all kharif crops. RBI also highlighted its concerns over crude oil prices as it remains elevated despite seeing a slight moderation. The central bank however remains sanguine about the overall performance of monsoon as it augurs well for food inflation in the medium-term.