BUSINESS
Strategic buyers and investors scouting for insolvency-affected cement assets
Strategic buyers and investors are actively pursuing distressed cement companies undergoing insolvency, with Jaiprakash Associates Ltd's cement business being a prime target. Factors driving this interest include consolidation in the sector, government infrastructure initiatives, and the potential for cost optimization through acquisitions. Recent deals, like Nuvoco Vistas Corp's acquisition of Vadraj Cement, highlight this trend.
Sebi issues norms for withdrawing an ESG rating
India's market regulator on Tuesday issued norms for withdrawing an ESG rating, weeks after its chief told Reuters it is reviewing the reporting requirements on environment for listed companies.
AI startup AlonOS rolls out AI agent for business continuity management
AI startup AIonOS, a JV between Assago Group and InterGlobe Enterprises, launched an AI agent for business continuity with Perpetuuiti. The tool aids autonomous disruption response and recovery. The JV aims to build AI-led resiliency and cybersecurity solutions for enterprises facing evolving cyber threats.
Export employment to dive if trade war persists: US business group
Escalating trade tensions between the U.S. and China, triggered by tariff hikes, are jeopardizing American jobs and economic growth. China's 125% retaliatory tariffs on $140.7 billion of U.S. exports threaten over 862,000 jobs, particularly impacting the South and Midwest regions dependent on agricultural exports. The US-China Business Council urges negotiation to avert further economic damage.
Indian business leaders harness AI for sustainability, but talent shortage is holding them back: Autodesk report
Indian business leaders are embracing AI for environmentally responsible outcomes, surpassing global averages. They express optimism about AI's transformative potential, prioritizing AI skills in hiring. While acknowledging potential industry disruption and skills gaps, Indian companies are investing in digital skills training and viewing sustainability as a core business strategy, driving long-term growth.
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AWL Agri Business ups sales forecast on delivery boom, easing food prices
AWL Agri Business, formerly Adani Wilmar, anticipates sales volume growth exceeding 10% in fiscal 2026, driven by booming 10-minute delivery platforms and easing food prices. CEO Angshu Mallick expects edible oil sales to rise by 7%-10% this fiscal year. The company plans to expand its direct store reach by 12%-15%, serving nearly 1 million outlets.
Jio Platform IPO, renewables capex to fuel next leg of Reliance’s growth: Deven Choksey
Reliance Industries sees a potential upswing. Consumer businesses, Jio platform and retail, now lead in EBITDA contribution. Growth is expected around 15-20% in these sectors. Renewable energy investments are also promising. Crude prices and better GRM are favorable. Market participation may increase, boosting the stock. The company's focus shifts towards renewables and select O2C projects.
PepsiCo gathers its snacks business global executives in ‘vital’ India market this week
PepsiCo Chairman Ramon Laguarta leads a large executive team to India, signaling the market's importance amid global slowdowns. The visit comes as regional and direct-to-consumer snack brands challenge PepsiCo's dominance, leveraging quick commerce for wider reach. With beverages largely outsourced, PepsiCo focuses on snacks, aiming to capitalize on India's growth potential as a key 'anchor market'.
Piyush Goyal meets business leaders in London to boost India-UK investment and trade ties
Union Minister Piyush Goyal is in London to bolster India-UK trade and investment ties. He met with Revolut's Chairperson Martin Gilbert to discuss India's fintech potential and De Beers Group CEO Al Cook regarding the Gems and Jewellery sector. Goyal also engaged with an Indian business delegation, exploring collaboration opportunities.
UCO Bank Q4 Results: Net profit jumps 24% YoY to Rs 665.7 crore
State-owned Uco Bank reported a 24% year-on-year rise in net profit for the fourth quarter at Rs 653 crore, backed by steady business growth and recovery from written off accounts.
Recession risk deepens, fear haunts economies and businesses as Trump's tariff damage spreads
A recent Reuters poll reveals economists are increasingly worried about a potential global recession this year, largely blaming U.S. tariffs for damaging business confidence. Overwhelmingly, economists view these tariffs negatively, leading to lowered global growth forecasts. Concerns extend to stagflation, with central banks struggling to meet inflation targets.
Leaders, uninterrupted: Work and learn via UWA Global MBA with IIM Kozhikode certification
The UWA Global MBA with IIM Kozhikode certification offers an opportunity to upskill without stepping away from your career. This dual-accredited MBA program promises a world-class curriculum from two globally respected institutions, tailored for mid to senior-level professionals looking to stay ahead of the growth curve. Here are its key advantages and a guide on how to apply.
UltraTech Cement Q4 Preview: Volume growth to support earnings; margins seen steady
UltraTech Cement is expected to report strong Q4 results, driven by volume growth, acquisitions, and stable margins. Revenue and profit are likely to rise 12% and 8% YoY, respectively. While cost controls aid profitability, high base effects and regional pricing pressures may limit overall gains.
Nike sued over closure of crypto business
In a proposed class action filed in Brooklyn, New York federal court, purchasers led by Australian resident Jagdeep Cheema said the sudden closure in December of Nike's RTFKT unit caused demand for their non-fungible tokens (NFTs) to dry up.
Reliance Retail's consumer business revenue hits Rs 11,500 cr in FY25
Reliance Retail's consumer business achieved Rs 11,500 crore revenue in FY25. It became the company's fastest-growing sector in India. Reliance is expanding its FMCG presence nationwide with brands like Independence and Campa. Campa gained double-digit market share in key areas. Reliance acquired Velvette and launched Campa Energy and Spinner.
Alphabet Q1 results: Profit surges on AI, cloud business, despite legal challenges
Revenue for the quarter came in at $90.23 billion, up 12% from a year ago, slightly surpassing analysts' expectations of $89.15 billion. Operational income grew 20%, also exceeding forecasts. Sundar Pichai, Alphabet's CEO, said, “We’re pleased with our strong results this quarter. We continued to see healthy growth and momentum across the business, including AI powering new features.”
RIL Q4 Results Preview: PAT may fall 5% YoY on weak O2C business; retail, Jio to show strength
Reliance Industries' Q4 profit is expected to decline 5% YoY due to a weak O2C business, despite anticipated growth in the retail and Jio sectors. While consolidated EBITDA is projected to rise slightly, driven by telecom tariff hikes and retail improvements, O2C performance is expected to drag overall earnings down.
Trump trade war spreads more gloom across businesses
Businesses are grappling with the fallout from President Trump's trade war, as tariffs disrupt supply chains and increase costs. PepsiCo and Thermo Fisher have lowered their financial outlooks, while Nestle and Unilever express concerns about weakening consumer confidence in the U.S. Hyundai Motor is shifting some production to the U.S.
Air India gets good distribution practices certification for cargo business
Air India has received Good Distribution Practices (GDP) certification for its cargo operations, recognizing its excellence in handling time and temperature-sensitive pharmaceutical shipments. The certification, awarded by SGS, covers major domestic cargo hubs including Delhi and Mumbai, as well as international locations like New York and London Heathrow. This emphasizes Air India's commitment to quality in pharmaceutical logistics.
PepsiCo's international beverages business grows 11% in Q1 helped by markets including India
PepsiCo's international business experienced strong revenue growth, particularly in India, which contributed significantly to both beverage and convenient foods sectors. Despite overall net revenue decline due to foreign exchange impacts, the company remains optimistic about its international operations. PepsiCo anticipates continued volatility in the macroeconomic environment for the remainder of 2025.
Sebi facilitates ease of doing biz for SM REITs; standardises disclosures in scheme offer document
To facilitate ease of doing business for Small and Medium REITs (SM REITs), markets regulator Sebi has standardised disclosures in draft scheme offer document and simplified public issue processes for such schemes.
OpenAI opens image model API to global businesses
OpenAI has launched the gpt-image-1 API, enabling developers to integrate ChatGPT's image generation capabilities into their products. The model supports diverse visual styles and applications in design, marketing, and education. It includes safety filters and privacy measures, with tiered pricing.
French media companies sue Meta over business practices
A group of 67 French media companies, including TF1 and France TV, is suing Meta in Paris over alleged illegal digital advertising practices. They accuse Meta of abusing its market dominance through massive personal data collection. This adds to Meta's mounting legal troubles across Europe over competition and data privacy issues.
Are Tariffs hurting American businesses more than they help? Insights from Tesla and Akzo Nobel
Companies are grappling with tariff uncertainty and trade war unpredictability, impacting financial results and forecasts. While some tariffs are postponed for negotiations, shifts make cost and sales assessments difficult. Tesla faces challenges in its energy business due to Chinese battery cell sourcing, while Akzo Nobel anticipates potential demand reduction from broader tariffs affecting consumers and businesses.
US business activity moderates in April; firms demand higher prices for their products
U.S. business activity decelerated to a 16-month low in April, accompanied by soaring prices, intensifying stagflation fears due to tariffs. Trump's trade policies and immigration crackdown negatively impacted exports and tourism, leading to reluctance in hiring and diminished business confidence. The Composite PMI Output Index fell to 51.2, signaling tepid economic activity at the start of the second quarter.
India April business growth hits 8-month high as export orders surge, PMI shows
India's private sector experienced robust growth in April, reaching an eight-month high, driven by strong demand and a surge in foreign orders, particularly for manufactured goods. The manufacturing sector saw significant expansion, fueled by increased export business, while the services sector also contributed to the overall positive momentum.
360 One to buy UBS' local wealth management business
360 One will also buy UBS's local stock broking and distribution business, discretionary and non-discretionary portfolio management services business, and residual loan portfolio, the release said. UBS has active assets under management of ?26,000 crore as of December 21, 2024.
Riyadh Air’s new business class cabin aims to compete with Emirates, Qatar
Riyadh Air, Saudi Arabia's new airline, unveiled its luxurious business class seats at the Jeddah Yacht Club during the F1 weekend, aiming to attract high-end travelers. The airline's cabin features privacy panels, lie-flat seats, and Arabian-inspired designs.
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