Category Archives: Business

Air India disinvestment: IndiGo Airlines expresses interest, writes to govt

Interglobe Aviation Limited or IndiGo on Thursday expressed interest in investing in Air India, a day after the Union Cabinet gave an ‘in-principle’ nod to disinvest its stake in the national carrier. Civil Aviation Secretary Rajiv Nayan Choubey confirmed that executives of IndiGo, one of Air India’s competitors, had formally written to the ministry expressing interest. IndiGo said… Read More »

Fast Forward; GST Set to Transform Face of Logistics Industry

India’s greatest tax reform – replacing an array of provincial duties with a nationwide goods and services tax – is transforming the logistics industry in a country where moving stuff around is notoriously difficult to do, executives say. The advent of organised retail and e-commerce began modernising warehouses a decade ago, but most firms still rely on musty,… Read More »

Holland & Barrett sold for £1.8bn to Russian billionaire

Holland & Barrett, the UK’s biggest health food retailer, is being bought by a Russian billionaire for £1.8bn. L1 Retail, a fund controlled by Mikhail Fridman, is buying the chain from US private equity firm Carlyle. Carlyle acquired Nuneaton-based Holland & Barrett as part of its $3.8bn (£3bn) purchase in 2010 of US firm Nature’s Bounty, now NBTY.… Read More »

George Clooney sells his tequila company for up to $1bn

A tequila company co-founded by George Clooney has been sold to UK drinks firm Diageo for up to $1bn (£790m). The company behind Smirnoff, Johnnie Walker and Baileys announced it would buy Casamigos, created four years ago by the American actor, together with Cindy Crawford’s husband Rande Gerber and property developer Mike Meldman. Diageosaid it was the fastest-growing… Read More »

UK manufacturing soars thanks to weak pound and global recovery

Britain’s manufacturers are enjoying the strongest demand for their products in almost 30 years as a recovering global economy and a weaker pound boost order books. The monthly snapshot from the CBI found that export and total order books were both at their highest for decades – providing some hope that a stronger manufacturing sector would cushion the… Read More »

Two IPOs to hit market this week, eye Rs 1,000 cr

Aiming to tap the upbeat investor sentiment, two companies – CDSL and GTPL Hathway – will launch initial public offers (IPOs) this week to raise over Rs 1,000 crore. The bidding in BSE-promoted CDSLs IPO will begin on June 19 and close on June 21, while that of GTPL Hathway, part of Hathway Cable and Datacom Ltd, will… Read More »

Brexit: EU pushes ahead with plans to take control of London’s clearing business

The European Union is pushing ahead with plans to assert control over the clearing of euro-denominated derivatives, a politically charged step that could force firms to move from London to the EU after Brexit. The European Commission has drafted a law for firms deemed systemically important to the EU financial system to accept direct oversight by the bloc’s authorities, or… Read More »

Body Shop sale moves closer as L’Oreal talks to Natura

French cosmetics group L’Oreal has begun “exclusive” talks with Brazilian make-up company Natura Cosmeticos over the sale of its Body Shop business. L’Oreal said that Natura had made a “firm” offer valuing the company at 1bn euros (£880m). Earlier this year, L’Oreal said it was reviewing its strategy for the chain, which it bought for £652m in 2006.… Read More »

UK industrial output weaker than expected

The UK’s industrial output rose by much less than expected in April, according to official data. Output rose by just 0.2% in the month, much lower than the 0.8% increase forecast by economists. Manufacturing output – a key component of overall industrial output – grew by 0.2%, which was also much weaker than expected. Separate figures from the… Read More »

New Specs Coming to Google Shopping Feed, But What is It?

It is that time of year again when the changes to the Google Shopping Product Data Specification are announced. And for 2017, Google (NASDAQ:GOOGL) wants to improve the user experience by providing more information on minimum order value, shipping-related attributes and handling time. If you don’t know what the Google Shopping Feed is, read on. For now, it… Read More »