Category Archives: Business

Starbucks says China business is recovering, but second-quarter will take hit to sales from coronavirus closures

Starbucks warned investors on Thursday that store closures in China due to the coronavirus outbreak are likely to result in a 50% decline in its same-store sales in China during its fiscal second quarter. However, it said that it was seeing signs of a pickup in its business in China, and it hasn’t yet detected any slowdown in the U.S. Shares of Read More

Startups now chasing chief business officers to scale up

BENGALURU: There is a new leadership profile in demand: chief business officers. If headhunters and venture capitalists are to be believed, startups are now hiring more CBOs than chief operating officers and chief marketing officers, and they predict 40-50% increase in hiring for this relatively new role across startups. So, what does a CBO do? In the case of a new-age company that Read More

Tata Motors to exit its car retail business Concorde Motors

MUMBAI: Tata Motors Ltd (TML) is gradually exiting its passenger car retail business–Concorde Motors India Ltd–as part of its strategy to pare costs by moving out of non-core assets and businesses to navigate through the economic downturn in the country. Concorde Motors, which has been a 100% subsidiary of Tata Motors since 3 July, 1999, reported a loss of ₹105.69 crore Read More

Looking to make a foray into pre-owned car business in India: Porsche

The luxury sports car company looks forward to enhance customer base in the country Luxury sports car maker Porsche is planning to enter pre-owned car business in India in the medium term as it looks to enhance customer base in the country, according to a senior company official. The company, which sells a range of luxury sports cars and sports Read More

Hilton CEO Says Business Could Be Impacted for Up to a Year From Coronavirus

Hilton has closed about 150 hotels in China in response to the growing coronavirus crisis, taking 33,000 rooms out of commission, Hilton CEO Chris Nassetta said on Tuesday. The hotel industry could end up having to deal with the impact of coronavirus for the next 12 months, Nassetta told investors during a call detailing the McLean, Virginia-based company’s 2019 earnings. Read More

How To Rebuild Your Business In The Face Of Disaster

Is your business ready for the worst? Could you start again if you lost it all? Those are difficult questions that many entrepreneurs would rather not face. Sally Binard knows this first-hand. She’s a Florida-based ceramicist and painter. A former marine biologist, Binard started selling handmade ceramics on Etsy in 2014. Her business Zebra Wing Studio took off and by 2015 formed 30 percent of Read More

View: Little elbow room, but call-out to business

The first Union Budget of the 2020s underlines GoI’s intent towards building a strong foundation for achieving the goal of making India a $5 trillion economy. More importantly, finance minister Nirmala Sitharaman has made emerging global technology trends, along with inclusive growth, as the backdrop for the budget. It was heartening to hear quantum computing, machine learning (ML) and artificial intelligence (AI) find a Read More

Adani Capital acquires Essel Finance’s MSME lending business

Adani Capital Pvt. Ltd, the non-banking financial company (NBFC) arm of Adani Group focused on small and micro-entrepreneurs, has acquired Essel Finance’s micro, small and medium enterprises (MSME) loan business. Through the acquisition, Adani Capital has secured a loan book of around ₹145 crore, operating out of 10 cities, comprising approximately 1,100 customers and 40 employees. This is the second asset Read More

What were the top business stories of 2019?

In 2019, global trade tensions, political upheaval on the streets of Hong Kong, indecision over Brexit and a litany of corporate scandals dominated the business news agenda. Executives lost their jobs, bankers were sent home, and big corporate names from Nissan and Boeing to Topshop and Whirlpool wrestled with threats to their reputations. Here, month-by-month, is a countdown of the Read More

EXCLUSIVE: India’s top trending business tycoons of 2019, according to Google⁠

India is home to 953 billionaires and family business tycoons who have shaped the Indian economy and, in many ways, the society that is a picture of inequality. Yet, from the Tatas to the Birlas and the Ambanis, top corporate leaders have always garnered interest from people who want to know more about them, their families, their wealth, aside from Read More