Starbucks names Indian-origin Laxman Narasimhan as new CEO
Business | Sep 02, 2022, 09:54 AM ISTLaxman Narasimhan, 55 was previously the CEO of UK-based Reckitt Benckiser, a multinational consumer health, hygiene and nutrition company.
Laxman Narasimhan, 55 was previously the CEO of UK-based Reckitt Benckiser, a multinational consumer health, hygiene and nutrition company.
Business news updates: This is a sharp 1.1 percentage points cut from the growth projection of 8.8 per cent for current year made in May by Moody's.
Union Cabinet has also raised the procurement ceiling under the price support scheme from the existing 25 per cent to 40 per cent for pulses such as tur, urad, and masur.
Gautam Adani has a total net worth of USD 137.4 billion and is now just behind Elon Musk and Jeff Bezos.
Business news: As per data, Canara Bank will raise Rs 2,000 crore, which includes Rs 1,000 crore via Basel-III Tier-II bonds, Kotak Mahindra prime Ltd will raise Rs 300 crore and Rs 175 crore via 35-month-25-day and 47-month-25-day, respectively.
Bharti Group chairman Sunil Bharti Mittal's family and Singtel own Bharti Telecom (BTL).
Business news: ICRA expects the sectoral growth in Q1 FY2023 to be driven by the services sector (+17-19 per cent; +5.5 per cent in Q4 FY2022), followed by the industry (+9-11 per cent; +1.3 per cent).
To tame stubbornly high inflation, the RBI has hiked the key interest rate three times this year to 5.40 per cent.
Business news: The tax department tweeted on corporate tax collection growth in April-July in an apparent attempt to counter criticism of the 2019 reduction in tax rates for companies which was alleged to have dented the Centre's revenue collections, impacting its spending on social welfare schemes.
PNG price hike: The price revision comes amidst rising prices of the natural gas at source both internationally as well as for domestically drilled gas.
Walmart news: The news of layoffs at Walmart came as after the company recently slashed its profit outlook due to inflation.
RBI's composite financial inclusion index (FI-Index) capturing the extent of financial inclusion across the country rose to 56.4 in March 2022, showing growth across all parameters.
Windfall tax on domestically produced crude oil was hiked to Rs 17,750 per tonne from Rs 17,000, a move that will hit producers like ONGC and Vedanta Ltd.
Business news: The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement.
The July PMI data pointed to an improvement in overall operating conditions for the 13th straight month.
Shopify CEO Tobi Lutke said that before the pandemic, ecommerce growth had been steady and predictable.
Rupee, on Monday, for the first time declined to the low level of 80 against the US dollar in intra-day spot trading before ending the session 16 paise lower at 79.98.
Business news: The retail inflation has remained above 6 per cent since January this year forcing the central bank to go for two back-to-back hikes in policy rates (repo).
The RBI said the penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.
Under the GST, a four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and a top rate of 28 per cent on cars is levied. The other slabs of tax are 12 and 18 per cent.
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