Companies

Motherson Sumi in merger talks with Germany’s Leoni

A Motherson Sumi factory in Noida. A merger with German peer Leoni will add to Motherson Sumi’s 180 facilities in 37 countries. Photo: Reuters Frankfurt/Hong Kong: Indian car wiring maker Motherson Sumi Systems Ltd is in early talks with German peer Leoni AG over a possible merger of the pair, two people close to the matter said. The car industry and its suppliers, facing …

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Beauty, fashion drive growth at Miniso India

Japan’s Miniso launched its first India store in August 2017. New Delhi: Beauty and fashion products are driving growth at the Indian unit of Miniso, the Japanese low-cost retail chain that launched its first store in August 2017. The beauty category, launched in July, is expected to contribute 20% to the company’s overall business, said …

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‘Aviation will grow in double digits in India for many years to come’

More people today in India and China can afford to fly, and this number will only increase, says IATA director general Alexandre de Juniac. Geneva: India is set to become the third largest aviation market by 2025, after the US and China, says the International Air Transport Association (IATA). The global airline industry body also …

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Airbnb India targets homestays in untapped locations

According to Airbnb India manager Amanpreet Bajaj, homestay listings on Airbnb’s website in India has grown 100% annually in the last two years with most homes in Goa. Photo: Priyanka Parashar/Mint Mumbai: San Francisco-headquartered home-sharing company Airbnb Inc. is looking to scale up its partnerships with state tourism boards and government bodies in India and …

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New Facebook bug may have exposed unposted photos

The new bug may have affected up to 1,500 apps built by 876 developers, Facebook said. Photo: Reuters San Francisco: Facebook apologized Friday for a “bug” that may have exposed unposted photos from as many as 6.8 million users over a 12-day period through third-party applications. In the latest in a string of incidents on …

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Huawei troubles haunt T-Mobile’s $26.5 billion sprint merger

Photo: Reuters Last year, Huawei Technologies Co. and wireless carrier SoftBank Group Corp. jointly demonstrated advanced 5G technology by pitting a human against a robotic arm in a game of air hockey in Japan. The presentation also illustrated the close ties between the companies that are emerging as an issue in T-Mobile US Inc.’s proposed …

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IL&FS group selling luxury cars, office furniture to raise funds

Photo: Reuters New Delhi: Debt-laden IL&FS group firms are selling high-end cars, office furniture, electrical appliances and other assets in a bid to raise funds. The Infrastructure Leasing & Financial Services (IL&FS) and its various group firms have invited bids to sell 36 luxury cars, including brands like Audi, BMW, Jaguar, Mercedes Benz, Land Rover, …

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Buy that car before the new year as price hikes are coming

The Maruti Suzuki Baleno. Photo: Reuters New Delhi: For some, a long drive on new year’s day in a new car is the best way to start the calendar—holding with it the promise of a roadtrip-laced twelve months ahead. Buy that car right away, then, as carmakers—from Maruti Suzuki India Ltd to BMW AG—have announced …

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SBI orders forensic audit of Jet Airways’ books

Jet Airways promoter Naresh Goyal Mumbai: The country’s largest lender, State Bank of India (SBI), has ordered a forensic audit of Jet Airways’ books for the period between April 2014 and March 2018, according to sources. SBI, the lead banker to the airline’s over Rs 8,000 crore loans, has mandated EY to conduct the forensic …

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Titan eyes ₹45 crore sales in 2019 from saree brand Taneira

New Delhi: Taneira, the saree brand from Titan Co. Ltd, is aiming to double its existing business to touch ₹40-45 crore in revenue in 2019, said the company’s managing director Bhaskar Bhat at the launch of brand’s biggest flagship store in New Delhi. “Our primary target is to open 10 stores in the next 12-18 …

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