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Business

Walt Disney World to reopen in Orlando starting July 11

Florida officials have approved plans for a phased reopening of Walt Disney World in Orlando starting on July 11, according to a memo from a state agency said. The successful reopening of its parks is a signal event for Disney and the rest of the world as governments and companies strategize how to move out […]

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Business Entertainment

Forbes magazine accuses Kylie Jenner and her family for inflating value of her cosmetic business

Forbes magazine has struck reality TV star and entrepreneur Kylie Jenner from its list of billionaires, and accused her family of inflating the value of her cosmetics business. Forbes said the family went to “unusual lengths” to present its youngest member as richer than she was. In tweets, Jenner dismissed the article as “inaccurate statements […]

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Business

Indian economy grew by 4.2% in 2019-20 –the lowest in 11 years

India’s Gross Domestic Product (GDP) growth slowed to 3.1% in the fourth quarter of the financial year 2019-2020, according to official data released on Friday amid the ongoing coronavirus pandemic that has affected the economy. The GDP had expanded by 5.7% in the corresponding quarter of 2018-19, according to data released by the National Statistical […]

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Business

TikTok owner ByteDance to shift power out of China: Report

TikTok’s poaching of Disney’s Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions. The short video app’s parent company ByteDance has quietly made a series of moves in […]

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Business

Google exploring investment opportunities in struggling Vodafone Idea

Alphabet’s Google is exploring an investment in Vodafone Group’s struggling India business, the Financial Times reported on Thursday, citing people familiar with the matter. Google is considering buying a stake of about 5 percent in Vodafone Idea, the FT reported, citing one of the people. The process is at an early stage, according to the […]

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Business India

Nokia shuts manufacturing plant after staff tests positive for coronavirus

Nokia suspended operations at a manufacturing plant in Tamil Nadu, the company said on Tuesday, after some employees tested positive for COVID-19. Nokia did not disclose how many workers at the plant in Sriperumbudur in Tamil Nadu tested positive but the reported by local media stood at 42. The company said it had already implemented […]

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Business

Jio Mart launched pan-India to take on Amazon and Flipkart

Reliance Industries Ltd has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com’s local unit and Walmart Inc’s Flipkart in the huge Indian market. JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail […]

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Business

UK court orders bankrupt Anil Ambani to pay $717 million back to Chinese banks

A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million (around Rs 5,446 crore) within 21 days to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement. In February 2012, Reliance Com took a loan of over $700 million from three […]

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Business

Equity giant KKR invests ₹11,367 crore in Jio Platforms

Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital arm to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt. This is KKR’s largest investment […]

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Business World

US Senate passes bill that’ll block Chinese companies from selling shares on American stock exchange

The US Senate has passed a bill that could block some Chinese companies from selling shares on American stock exchanges. It would require overseas firms to follow US standards for audits and other financial regulations. The measure now has to be passed by the House of Representatives before being signed into law by President Trump. […]

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Business

Amazon enters food delivery business in India

Amazon Food has debuted in India as Amazon’s answer to Swiggy and Zomato. The new food delivery service by the US e-commerce giant has initially been started in Bengaluru to allow customers order prepared food from local restaurants and cloud kitchens. Amazon has constructed its proprietary hygiene certification bar, which is important as people are […]

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Business

Rolls-Royce to sack 9,000 workers as coronavirus slams aviation

Aircraft engine maker Rolls-Royce is cutting at least 9,000 jobs because of the collapse in demand for air travel caused by the coronavirus pandemic. “We are proposing a major reorganization of our business to adapt to the new level of demand we are seeing from customers,” the company said in a statement on Wednesday. “As […]