Godrej Family Announces Split After 127 Years: Adi and Nadir Retain Listed Firms, Jamshyd and Smita to Control Unlisted Entities

Brief by Shorts91 Newsdesk / 07:06am on 01 May 2024,Wednesday Business

The Godrej family, after 127 years, has decided to split their conglomerate. Adi and Nadir Godrej will retain Godrej Industries and its five listed firms, while cousins Jamshyd and Smita will control unlisted Godrej & Boyce and its affiliates, along with a substantial land bank. Jamshyd will lead Godrej & Boyce, with Smita's daughter Nyrika Holkar as executive director. Pirojsha Godrej, Adi's son, will succeed Nadir as chairperson of Godrej Industries Group in 2026. This ownership realignment aims to streamline operations and focus on respective business interests.            

Read More at NDTV

Domino's Pizza Exceeds Sales Targets with Strong Order Numbers

Brief by Shorts91 Newsdesk / 10:21am on 29 Apr 2024,Monday Business

Domino's Pizza exceeded Wall Street expectations in Q1 with a 5.6% increase in U.S. same-store sales, driven by a revamped loyalty program and enticing promotions. CEO Russell Weiner noted growth in orders across all income groups. Analysts had forecasted a 4.04% rise. Initiatives like the updated loyalty program and a partnership with Uber Eats boosted delivery demand. Promotions, like offering a $3 coupon for online tips over $3, further bolstered consumer interest amid inflation concerns, defying the broader downturn in eating out.

Read More at Hindustan Times

Baba Ramdev's Oral Care, Hair Care, and Personal Care Products Facing Difficulties

Brief by Shorts91 Newsdesk / 04:41am on 29 Apr 2024,Monday Business

Patanjali Foods Limited is considering acquiring Patanjali Ayurved Limited's non-food business, which covers products like toothpaste and shampoo. The board has preliminarily approved the idea, giving the green light for further examination. They've authorized a thorough investigation, including hiring professionals to assist, and are currently discussing the specifics of the deal. Once all the details are ironed out, they'll report their findings to the higher-ups for final consideration. If the acquisition goes through, it could have significant implications for both companies, potentially altering their product offerings and business strategies. This move represents a strategic opportunity for Patanjali Foods to expand its portfolio and market presence.

Read More at DNA

Air India's Boeing Aircraft Upgrade Delayed Over Certification Issues

Brief by Shorts91 Newsdesk / 06:50pm on 28 Apr 2024,Sunday Business

Air India's $400 million plan to upgrade its Boeing 777 and 787 aircraft with new seats and entertainment systems faces delays due to certification issues. The refurbishment, originally scheduled for August, will now commence next year, affecting long-haul flights. Meanwhile, the airline will begin reconfiguring Airbus A320 aircraft later this year. The delay hampers efforts to enhance passenger experience amidst complaints of broken seats and malfunctioning entertainment systems. While the exact cause of the certification delay remains unclear, Air India aims to introduce premium economy cabins and retain first-class cabins as part of the upgrade.

Read More at Business Iine

Indian-Origin Billionaire Marries Ex-Wrestler in Lavish Cairo Ceremony, Private Jet Transport for Guests

Brief by Shorts91 Newsdesk / 03:57pm on 28 Apr 2024,Sunday Business

Indian-origin billionaire Ankur Jain, CEO of Bilt Rewards, tied the knot with former WWE wrestler Erika Hammond in a grand ceremony by the Great Pyramids in Cairo. The extravagant event, themed 'Modern Cairo', featured captivating performances by belly and fire dancers. Notable attendees included celebrities like Lance Bass and Shark Tank investor Kevin O'Leary. Guests were transported via private jet from an African safari, despite a brief delay due to government restrictions. Breaking tradition, the couple opted for a non-traditional wedding, foregoing a bridal party and wedding cake. The lavish celebration marked a union of two distinct worlds in style.      

Read More at India Today

Elon Musk Heads to China on Surprise Visit Days After Postponed India Trip

Brief by Shorts91 Newsdesk / 06:57am on 28 Apr 2024,Sunday Business

In a surprise move, Tesla CEO Elon Musk heads to China, the second-largest market for the electric vehicle giant, following the postponement of his visit to India due to "Tesla obligations." Musk seeks discussions with Chinese officials regarding the rollout of Full-Self Driving (FSD) software and the transfer of data collected in China. Despite the delay in his India trip, Musk hints at making FSD available to Chinese customers "very soon," highlighting Tesla's focus on expanding its autonomous driving technologies globally.          

Read More at NDTV

MDH Denies Cancer-Causing Pesticide Allegations in Spices, Calls Claims Baseless

Brief by Shorts91 Newsdesk / 05:59pm on 27 Apr 2024,Saturday Business

MDH, a popular Indian spice brand, refutes allegations of cancer-causing pesticide in its products, dismissing claims as "baseless, untrue, and lacking evidence." Hong Kong and Singapore banned MDH and Everest spices after detecting ethylene oxide. MDH asserts it hasn't received communication from regulatory authorities and assures adherence to safety standards. Customers reassured of product safety and quality. Centre seeks details from Hong Kong and Singapore food regulators. MDH emphasizes commitment to authentic, high-quality spices. Investigation ongoing to determine root cause and corrective actions.

Read More at Hindustan Times

Go First Faces Deregistration of All 54 Planes: Delhi High Court Ruling Deals Blow to Airline's Comeback Hopes

Brief by Shorts91 Newsdesk / 11:48am on 26 Apr 2024,Friday Business

In a significant setback for Go First, the Delhi High Court has ordered the deregistration of all 54 leased aircraft, allowing lessors to reclaim them amidst the airline's bankruptcy declaration nearly a year ago. The directive, to be implemented within five working days, poses a serious threat to Go First's revival prospects. Despite two bids for acquisition, including one from SpiceJet's chief, Ajay Singh, and another from Sky One, uncertainties loom as lenders deliberate over the offers. With the risk of losing its entire fleet, Go First's future remains uncertain, casting doubts on any potential comeback efforts.

Read More at India Today

IndiGo Places Order for 30 Airbus A350-900 Widebody Jets, Eyes Long-Haul Expansion

Brief by Shorts91 Newsdesk / 03:04pm on 25 Apr 2024,Thursday Business

IndiGo, India's top airline, secures a deal for 30 Airbus A350-900 widebody jets, with deliveries set to begin in 2027. This move marks a strategic shift into the long-haul market segment. With purchase rights for an additional 70 A350 family aircraft, IndiGo solidifies its position as a major player in the aviation industry. CEO Pieter Elbers expresses excitement for the airline's future, highlighting the significance of this milestone in shaping both IndiGo's trajectory and the broader landscape of Indian aviation. The order further diversifies IndiGo's fleet, enhancing connectivity and reinforcing its commitment to India's growth.

Read More at India Today

Air India and Vistara Aim to Finalize Merger by October's End

Brief by Shorts91 Newsdesk / 01:50pm on 25 Apr 2024,Thursday Business

Tata group-owned Air India and Vistara are pushing to conclude their merger by October, pending a decision from the National Company Law Tribunal. Harmonizing operating manuals and procedures is underway, with discussions ongoing with the Directorate General of Civil Aviation regarding pilot and crew training requirements. Once approved, integration efforts will intensify, focusing on aligning pricing, network, and schedules. Despite differences in aircraft classes and routes, the airlines aim for a seamless transition to minimize passenger disruption.

Read More at Business line

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