MASS EXECUTIONS
This festive season, mission is possible: Companies to stockpile weapons of mass consumption
Manufacturers are gearing up for a surge in demand, anticipating a boost in sales for smartphones, refrigerators, wearables, and two-wheelers during the upcoming festive season. The industry is optimistic about growth, especially in rural India, with expectations of exceeding previous sales records.
Fund Manager Talk | Rally in rail, defence stocks at execution risk: Krishnan VR
The portfolio was up 1.7% in May compared to 0.8% for the benchmark BSE 500 total return index. Because many portfolio companies reported their fourth quarter (and full year) results last month, the performance was partly driven by positive earnings surprises
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
Biden prepares a tough executive order that would shut down asylum after 2,500 migrants arrive a day
The White House is discussing plans for President Biden to issue an executive order closing asylum requests at the U.S.-Mexico border if daily encounters hit 2,500 between ports of entry, reopening when the number falls to 1,500. This move aims to control border numbers and is expected to be announced on Tuesday.
The rise of AI in recruitment process: How companies are using artificial intelligence for hiring
Companies use AI tools like GenAI bots for candidate sourcing, resume screening, and skills assessment. HR executives say AI makes hiring quicker and more efficient. Genpact launched IMatch, an AI-based job-matching engine, resulting in improved productivity and faster hiring.
British fund manager abrdn's CEO Stephen Bird to step down
Following a significant strategic repositioning of the company, the board and Bird agreed that it is time for the executive "to hand over the reins to the team he has assembled over the last four years to drive the business forward," abrdn said in a statement.
- Go To Page 1
Iran President Raisi's death: 'It wasn't us,' says Israel, following tragic helicopter crash
An Israeli official denies involvement in the helicopter crash that claimed the life of Iranian President Ebrahim Raisi, as reported by Reuters. Raisi, a staunch supporter of Iran's supreme leader, died alongside officials in the crash. His presidency marked continued confrontation with the US and Israel, following Trump's withdrawal from the nuclear agreement.
RBI allows Ujjivan Small Finance Bank to rope in former SBI veteran as MD & CEO
The Reserve Bank of India has approved Sanjeev Nautiyal as the Managing Director & CEO at Ujjivan Small Finance Bank for three years, effective from July 1, 2024. Nautiyal, with over three decades of banking experience, will hold the position of President before officially assuming his role, subject to shareholder approval. Ujjivan praised Nautiyal's leadership qualities and strategic retail banking expertise, expressing confidence in his ability to further the bank's mission of financial and digital inclusion.
US sanctions China, Belarus companies for Pakistan missile-linked gear
While China has been the biggest supplier of weapons and technology to Pakistan in recent years, the link between a Belarusian entity and Pakistan has come as a surprise to many experts. Ukraine, however, is known to have supplied defence items to Pakistan since the dissolution of the Soviet Union. On the implications of the sanctions, the US said, "As a result of today's action, all property and interests in property of the designated persons described above that are in the US, or in possession or control of US persons, are blocked and must be reported to the Department of Treasury's Office of Foreign Assets Control (OFAC)."
AI PCs running LLMs without net to solve data privacy issues: Dell executive
LLM applications such as the text-to-image generator Stable Diffusion, video editing software Adobe Premiere Pro, as well as music generation tool Audacity can now run more efficiently on devices with faster processing and auto-enhancement capabilities, the company demonstrated.
Ecommerce sales growth in slow lane as mass market crowd thins
Ecommerce sales grew 12-15% in Q1, slower than 2023. No major smartphone launches; fashion clearing inventory. Inflation affects online retail. Beauty brands show growth amidst sluggish market. Home furnishing and offline sales grow.
Helping Indian electric mobility dreams come true
Investors foresee 'India's decade' with significant GDP growth and population rise. The country targets 90% renewable energy by 2047 for net zero emissions by 2070. GreenCell Mobility's electric bus deployment in Surat marks a step towards sustainable transportation.
Indian Premium League: Premiumisation picks up pace for large consumer goods companies
More than 70% of the new products launched by India's largest consumer goods maker Hindustan Unilever in last two years were in the premium segment. Around 65% of all new personal care product launches were in the premium segment for ITC Ltd, doubling the contribution of such products to the division's sales in the last four years to 38%. For the largest biscuit maker Parle Products, around 60-65% of new launches were in the premium segment as compared to 40% pre-Covid.
Airtel, Jio hand out handset offers for 5G takeoff
Bharti Airtel recently announced an exclusive partnership with smartphone company Poco, wherein the 5G smartphone price has been brought down to ₹8,799 along with data bundling. It is likely to come out with similar partnerships with other handset makers, people familiar with the matter said. Reliance Jio, on its part, has been working alongside Reliance Retail to offer discounts on smartphones.
Gopal Vittal asks Airtel executives to be on ground today to fix customer issues
Bharti Airtel's managing director, Gopal Vittal, has called on the company's 19,000 employees across India to cancel business meetings on Tuesday and spend the entire day with customers to address service challenges they face. This is part of a national brand-building drive to position Airtel as a customer-obsessed telco, seeking direct market feedback on its 2G, 4G, and 5G mobile operations and home broadband services.
Wedding-related consumption remains muted amid fewer dates, slowdown
As per industry estimates, sales of categories like ethnic wear and wedding wear, gold jewellery and electronic household appliances have declined by 10-20% in FY24 till February as compared to the same period in FY23. However, luxury and premium products bucked the trend of sales decline mirroring the overall trend in consumption, chief executives said.
FMCG companies roll out online-first items for mass market
FMCG cos are targeting the mass segment by launching digital first products at lower prices due to the growth of e-commerce. This shift includes companies like Parle Products, Emami, Dabur, and Hindustan Unilever (HUL), driven by the need to reduce online costs and increase volume sales.
How conflict management can help leaders steer organisations out of chaos
Conflict management is crucial for effective leadership. It fosters innovation, prevents escalation, and promotes team unity. Leaders must overcome biases and ego to create a conducive environment for business growth.
Hit it out of the field: From Nadella to Narayen, tech honchos pad up for 2nd season of MLC to take sport to masses in US
Major League Cricket (MLC), co-owned by Satya Nadella, Shantanu Narayen, and Vijay Shekhar Sharma, aims to make cricket mainstream in the US. It is also backed by Indian Premier League (IPL) teams and investors like Mukesh Ambani. MLC’s first season was held in July last year at the Grand Prairie Stadium near Dallas, Texas, and on the Church Street Park ground in Morrisville in North Carolina, generating $2.8 million in ticket sales and attracting more than 70,000 spectators. About 30% of the spectators had flown into Dallas just for the tournament.
Most of the new cars to hit Indian roads next fiscal may be electric
Out of 14 new car brands set to debut in the next fiscal year, 12 will be electric, aligning with the government's target of one-third electric vehicle sales by 2030. However, concerns over affordability and infrastructure may hinder mass adoption. Industry experts anticipate a modest volume increase, with electric vehicles comprising a larger share of the market mix. Overall passenger vehicle sales are projected to grow 3-5% in FY25.
Tech layoffs in 2024: TikTok, Google and Amazon among companies undertaking job cuts
The new year brings more job cuts to the tech industry as layoffs continue in 2024. Thousands of tech and startup employees have been laid off, with 48 tech companies sacking 7,528 employees so far. Big Tech giants like Google and Amazon are planning to cut more jobs to reduce costs. Riot Games, Google, Amazon Audible, Amazon Prime Video, Twitch, Discord, Unity Software, Xerox, and Frontdesk are among the tech companies that have announced layoffs in 2024.
How hiring and firing changed in the corner office in 2023 and what to expect in 2024
2024 will see a boom in senior hiring, if there are no other black swan moments. Funding will increase, start ups will see renewed energy , and focus and also learn from past mistakes. The Indian economy especially post the election results will see a big boost and this will result in Indian companies hiring bigger global leadership for new business to lead their ambitious growth plans.
Will Tesla be able to produce a Rs 20 lakh EV for Indian masses?
The announcement by Musk to manufacture in India is likely to be made in the presence of Prime Minister Narendra Modi at the flagship event, although the government or Musk are yet to make this mega news official.
Trump's second-term agenda: revenge, trade wars, mass deportations
Trump has suggested the imposition of a 10% tariff on all imported goods into the United States, asserting that this measure would eradicate the trade deficit. Critics, however, argue that such a move could result in elevated prices for American consumers and potential global economic instability.
Consumer companies see demand back on track from March-April
Consumer goods companies were earlier expecting demand to recover in the December quarter. While that hasn't materialised, chief executives said slowdown in consumption has come to a halt and that sales of mass-segment products are picking up after a gap of over three years. While volume growth for the fast-moving consumer goods (FMCG) industry in urban India has been on a positive trajectory since April-June last year, rural markets have grown marginally this calendar year, according to market researcher NielsenIQ.
ET Awards for Corporate Excellence: Levers of growth meet shades of talent at Chanel
“I am humbled and delighted to receive this prestigious award. India has shaped my values; it is where I grew up, where I completed my education, and where I spent 40 years of my life, including two decades of my professional career,” she told ET after being chosen for the Global Indian Award. “This award is a recognition of Chanel, an iconic and admired luxury brand, and our teams across the world. We believe in the freedom of creation, encouraging human potential and acting to have a positive impact in the world.”
BioWare: Canadian video game developer teases Mass Effect 5 title
On N7 Day 2023, BioWare hints at a connection between the upcoming Mass Effect game and the original trilogy, raising questions about beloved characters, lineage, and unresolved mysteries. Despite limited details, BioWare aims to honor the series with answers.
Elon Musk's Tesla to build €25,000 car at German plant
Tesla plans to produce a 25,000-euro ($26,838) car at its Berlin factory, aiming for mass adoption of electric vehicles. The company has not provided a production start date. Tesla's expansion into the mass market is essential for achieving its goal of delivering 20 million vehicles by 2030. The German plant currently manufactures the Model Y, Europe's top-selling electric vehicle.
Maine Mass Shooting Suspect Robert Card Leaves Note, Here is What Authorities Have Found
In the wake of the Maine mass shootings, a note from suspect Robert Card details a chilling mystery, pushing authorities to an urgent manhunt, as the city of Lewiston clings to hope.
Load More
