Avenue Supermarts Ltd, which owns and operates the supermarket chain D-Mart, on Saturday said its overall sales and sales mix are now trending very close to usual times, though the consumption changes post COVID-19 still persists. Lesser trips and higher basket values continue to be the norm and products such as apparel, laundry, footwear, travel … Read more
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more
Amazon CEO Jeff Bezos is now more fully involved in the daily operations of the company, after having spent the past few years almost exclusively focused on long-term projects. Bezos has said he prefers working 2 to 3 years into the future, and he rarely gets pulled into the daily oversight of the company — … Read more
Warren Buffett’s Berkshire Hathaway sold its Costco position after investing more than 20 years ago, a filing revealed this week. The billionaire investor’s company grew its stake in the big-box retailer from 355,000 shares worth $32 million in 1999, to 4.3 million shares worth $1.3 billion in June of this year. The sale is a … Read more
The Shapoorji Pallonji Group on Thursday said it has submitted a plan to Supreme Court to end its seven decades-old association with the Tata Group. The Mistrys have valued their holding in the Tatas at Rs 1.75 lakh crore, it informed the apex court, which is hearing the long-drawn legal battle between the two groups … Read more
Kishore Biyani’s deal to sell off Future Group assets to Mukesh Ambani’s Reliance Industries for Rs 24,713 crore is now on hold. The Singapore International Arbitration Centre (SIAC) has granted an interim relief in the issue to the Jeff Bezosled Amazon, for now, two people aware of the matter said. Earlier this month, Amazon had … Read more
Ikea customers in the UK and Ireland will be able to sell used furniture back to the retailer for up to half the original price. Ikea will then resell this second-hand furniture as part of a scheme that starts on Black Friday, November 27. Customers get an in-store voucher when they bring back their furniture, … Read more
Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday. Further opening up of the economy with unlock measures and increased mobility has led to … Read more
Walmart Inc., the American retail giant that owns ASDA, confirmed on Friday, EG Group, controlled by the Issas, and TDR Capital, a private equity firm, have together agreed to buy Asda for £6.8 billion. Under the deal, the Issa brothers and TDR Capital will secure a majority stake in the company, with Walmart, which wholly … Read more