 "Adani")
India can repeat UPI success in e-commerce: Walmart CEO Doug McMillon
In an indication that Walmart’s aspiration for multi-brand retail is a thing of the past, the chief executive of the biggest retail company of the world, Doug McMillon, lists out his India focus as Flipkart, PhonePe, sourcing and technology. There’s something else that he counts as part of Walmart’s past in India: the lows. During a short visit to New Delhi, he spoke to Nivedita Mookerji & A K Bhattacharya on issues ranging from Flipkart and PhonePe’s IPO to India growing faster than the China market and more. Read edited excerpts here
Adani Transmission, Adani Total Gas dropped from MSCI's India gauge
Global index manager MSCI Inc. will exclude two Adani Group firms from its India gauge, potentially dealing a blow to their stocks that are trying to recover from the rout triggered by a short-seller report earlier this year.
Adani Transmission Ltd. and Adani Total Gas Ltd. will drop out of the India index effective at the close of trading on May 31, according to a statement issued by MSCI on Thursday as a part of its quarterly comprehensive index review. The exclusion follows changes in MSCI’s calculation on the amount of shares considered freely tradable in the public market for the two companies. Read more...
Tax tussle: Govt not in favour of banning foreign gaming platforms
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The government is not in favour of the Department of Revenue’s recommendation of “banning” 200 offshore online gaming sites. According to officials, “economic-linked matters like revenue loss cannot warrant a ban”. The government is of the considered view that these platforms are still not a serious threat to internal security.
The Central Board of Indirect Taxes and Customs (CBIC) had written to the Ministry of Electronics and Information Technology (MeitY) and other relevant ministries a month ago, seeking to impose a ban on foreign gaming firms causing revenue loss to the exchequer. Read more...
Adani Group promoters won't take on debt to fund expansion, growth
The promoters of Adani Group have decided they will not raise further debt on their books to fund the conglomerate’s expansion and growth, according to sources aware of the development.
It is part of their new “risk management” strategy, said sources, after the group’s market capitalisation plummeted following the Hindenburg Research report, which accused it of market manipulation. Read more...
Musk to step down as Twitter CEO, NBCUniversal's Yaccarino to replace him
NBCUniversal executive Linda Yaccarino is in talks to become Twitter’s chief executive officer, the Wall Street Journal reported, following owner Elon Musk’s announcement that he had found a new leader for the social network and will shift into a new role as chief technologist.
In a tweet on Thursday, Musk said the company’s new CEO will start in about six weeks, without naming the individual. Yaccarino, who is chairman of global advertising and partnerships at NBCUniversal Media, didn’t respond to an email seeking comment, and a representative for NBCUniversal said she was in rehearsals for the company’s Upfront presentations to advertisers. Read more...
