Let's count the events of the day

1. Mahindra Said To Consider Bidding For Hawker Beechcraft

Mahindra & Mahindra Ltd. (MM), India’s biggest maker of utility vehicles, is considering bidding for Hawker Beechcraft Inc., the bankrupt aircraft maker part owned by Goldman Sachs Group Inc. (GS), a person with knowledge of the matter said.

Hawker would fit well with Mahindra because both produce turboprop aircraft, said the person, who asked not to be identified because the deliberations are private. The Mumbai- based company has not decided whether to make an offer, the person said. Roma Balwani, a spokeswoman for Mahindra, said the company doesn’t comment on speculation.

Mahindra, which purchased majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009, has been in talks with India’s National Aerospace Laboratories on possibly partnering for a regional jet. A successful bid for the business jet-maker will catapult Mahindra into the aerospace market as a manufacturer, according to Dhiraj Mathur of PricewaterhouseCoopers LLP.

2. Apple Said To Plan Smaller IPad To Vie With Google Nexus

Apple Inc. (AAPL) plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. (GOOG) and Microsoft Corp. (MSFT) prepare competing handheld devices.
The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.

3. Coke’s $3bn to add fizz to India presence

Coca-Cola is escalating the beverage wars in India, announcing a $3bn investment intended to help it overtake PepsiCo in one of the few countries where it trails its rival.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html#ixzz1zirgCzwt

The move marks the acceleration of Coke’s commitment to India, superseding last year’s plan to invest $2bn over five years. That is as much as Coke invested in the country between 1993 and 2011.

Source: http://www.ft.com/intl/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html

4. Former CEO Bob Diamond admits 'mistakes' at Barclays, says fast action taken

Former Barclays chief executive Bob Diamond criticised "reprehensible" behaviour over a rate-fixing scandal in a tense appearance before British lawmakers Wednesday, the day after he quit the bank.

Diamond added that while there had been "mistakes" at the lender, swift action was taken to tackle traders' attempts to manipulate key inter-bank lending rates.

"Clearly there were mistakes, clearly there was behaviour that was reprehensible," Diamond told the British parliament's Treasury Select Committee.

Barclays chief operating officer Jerry del Missier also resigned Tuesday over the affair, while the bank's chairman Marcus Agius quit on Monday.

Last week, the bank was fined £290 million ($455 million, 360 million euros) by British and US regulators for the attempted rigging of the Libor and Euribor interest rates.

Libor (London Interbank Offer Rate) is a flagship London instrument used as an interest benchmark throughout the world, while Euribor is the eurozone equivalent.

The rates play a key role in global markets, affecting what banks, businesses and individuals pay to borrow money.

Let's count the events of the day

1. Apple Pays $60 Million To End China IPad Dispute With Proview

Apple Inc. (AAPL) paid $60 million to settle a two-year-old legal dispute with Proview International Holdings Ltd. (334) regarding the iPad trademark in China.

The terms of the settlement agreement were reached on June 25 and Apple has transferred the funds as agreed, the Higher People’s Court of Guangdong Province announced in a statement on its website today. Apple spokeswoman Carolyn Wu didn’t immediately return calls to her office and mobile phones.

The dispute had centered on whether Proview’s Taiwan unit, which Apple paid 35,000 pounds ($54,800) in 2009 to use the iPad name in mainland China, had the right to sell it or whether that rested with Proview’s Shenzhen unit, which held the mark. Apple sued Proview Shenzhen in 2010 claiming ownership of the iPad trademark in China and lost. Its appeal of that case was heard on Feb. 29, and the two sides had engaged in court-sponsored mediation since then.

Before the agreement, Proview had applied to Chinese customs to block shipments of Apple’s iPad tablets in and out of China, and asked local retailers to stop sales of the product.

http://www.bloomberg.com/news/2012-07-02/apple-pays-60-million-to-end-china-ipad-dispute-with-proview.html

2. Billionaire Rinehart Willing To Buy Back GVK Shares

http://resources0.news.com.au/images/2012/02/02/1226261/318196-120203-gina-rinehart.jpg

Australian billionaire Gina Rinehart, who sold a majority stake in her Hancock Prospecting Pty’s coal projects to India’s GVK Group last year, said she is happy to buy back shares in the venture if it needs funds.
“I have told GVK I would love to be in the project more,” Rinehart told reporters on a visit to the southern city of Hyderabad, where she meet officials of the group.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

http://www.bloomberg.com/news/2012-07-01/billionaire-rinehart-says-she-s-willing-to-buy-back-gvk-shares.html

Background:

GVK, a Hyderabad  based company want to mine coal in Queensland's Galilee Basin, environement activists like Greenpeace say that it will destroy the local biodeiversity. Gina Rinehart a billionaire who made her riches in mining has a small stake in the mine.

3. AB InBev buys out Modelo for $20 bn

Brussels, London: Anheuser-Busch InBev, the world’s biggest brewer, will swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest in a string of deals by big brewers looking for growth in emerging markets.

Modelo, founded in 1925, is Mexico’s biggest brewer with a 50%-plus market share in a virtual duopoly with Heineken’s FEMSA Cerveza in the world’s fourth-most-profitable beer market. Corona is the biggest imported beer in the lucrative US market.

4. Nestle in talks to raise E7-billion acquisition loan

Nestle has been talking to banks about raising a new 7-billion-euro syndicated loan to help fund its $11.85-billion takeover of Pfizer Nutrition. Nestle said in late April the acquisition would be fully debt-financed through internal cash resources, existing facilities and the bond markets. The new loan would give Nestle enough liquidity until the deal is approved, which is expected to be in the first quarter of 2013, if the acquisition goes ahead.

http://www.financialexpress.com/news/ab-inbev-buys-out-modelo-for-20-bn/968510/0

Let's count the events of the day

1. Rice Harvest In India Seen At Record As State Prices Increased


The monsoon-sown harvest may gain 10 percent in the year beginning July 1 from 90.8 million metric tons a year earlier, said Tarsem Saini, president of the Federation of All India Rice Millers Association. An end to a three-year ban on exports last year and a forecast for normal rain will spur farmers to increase planting, he said. The monsoon crop, sown from this month, accounts for about 80 percent of annual output.

http://www.bloomberg.com/news/2012-06-26/rice-harvest-in-india-seen-at-record-as-state-prices-increased.html

2. Morgan Stanley Downgrades RIM On ‘Deteriorating’ Outlook


Research In Motion Ltd. (RIM), the struggling maker of the BlackBerry smartphone, fell the most since May after Morgan Stanley (MS) downgraded the stock, citing “rapidly deteriorating fundamentals.”


“The only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power,” Ehud Gelblum, an analyst at Morgan Stanley in New York, wrote in a note to investors today. He cut RIM’s recommendation to underweight, a negative rating, from equalweight, the equivalent of a hold.


3. Nissan India Partner Thinks Small To Close Tata Gap

Ashok Leyland Ltd. (AL), India’s second- biggest truckmaker, is adding small goods carriers and expanding overseas to claw back market share lost to Eicher Motors Ltd. (EIM) and Tata Motors Ltd. (TTMT)
Nissan Motor Co. (7201)’s Indian partner, which reported its smallest gain in sales in three years in the 12 months ended March 31, plans to add 25 models in the year that began April 1, Vinod Dasari, the company’s managing director said in an e- mailed response to questions. The company last year began selling the small carrier Dost, which means friend in Hindi.

Daimler, Navistar:


Daimler, the world’s biggest truckmaker, this year opened a factory to build carriers ranging from six tons to 49 tons in India. Daimler will unveil 17 models by 2014, and the factory will be able to initially produce 36,000 trucks a year, Daimler said in April.

Mahindra partnered Navistar International Corp. (NAV) in 2005 to build trucks, while Volvo AB, the world’s No. 2 truck maker, invested $275 million in a venture with Eicher to make vehicles in India in 2008.

http://www.bloomberg.com/news/2012-06-25/nissan-india-partner-thinks-small-to-close-tata-gap.html

Worth Reading:


That’s Bhendi Bazar in 2014http://www.mumbaimirror.com/index.aspx?page=article&sectid=15&contentid=200908282009082804230495389a185fa

Let's count the events of the day!

1. Starbucks To Open Tazo Tea Store

Starbucks Corp. (SBUX), the world’s largest coffee-shop operator, will open its first tea-only store in October under the Tazo brand.

The shop will sell more than 80 varieties of loose-leaf tea, which will be priced by the ounce, said Holly Hart, a spokeswoman for Seattle-based Starbucks. While there are no immediate plans to open more stores, the company may consider additional Tazo shops “if we see another opportunity where a location is the right fit,” Hart said.

www.bloomberg.com/news/2012-06-20/starbucks-to-open-tazo-tea-store.html

2. Cable TV digitisation put off by four months till October 31 

The much-trumpeted digitalisation of cable TV services in four metros will now have to wait for four months beyond July 1, when it was originally scheduled to be introduced.
The decision to defer the plan for switchover from analogue to digitised signals was announced by the government on Wednesday as it was found that the metros of Delhi, Mumbai, Chennai and Kolkata were not ready for it.
"The ministry of information and broadcasting has decided to modify the 30th June deadline for a complete switch over to 31st October 2012," a statement issued by the I&B ministry on Wednesday said.

http://ibnlive.in.com/news/cable-tv-digitisation-put-off-by-four-months/267098-3.html

3. RBI gives nod for white label ATMs

The Reserve Bank of India has decided to permit non-bank entities to set up, own and operate automated teller machines (ATMs).
Such non-bank entities should have a minimum net worth of Rs 100 crore as per the latest financial year’s audited balance sheet, which is to be maintained at all times.

Non-bank entities that intend setting up, owning and operating ‘White Label ATMs’ (WLAs) would service customers of banks in India, based on the cards (debit/ credit/prepaid) issued by banks, the RBI said.

http://www.financialexpress.com/news/rbi-gives-nod-for-white-label-atms/964687/

4. Odisha starts transferring 1,500 acres to Posco

After seven years of delay, the Posco steel project will start rolling soon as Odisha has started transferring around 1,500 acres to the Korean steel major to set up an 8-million tonne plant in the first phase, Odisha Steel and Mines Minister Raghunath Mohanty said today.

http://www.financialexpress.com/news/odisha-starts-transferring-1-500-acres-to-posco/964498/

5. Kristen Stewart Tops Our List Of The Highest-Paid Actresses - Forbes

for the last two Twilight films, Stewart has been able to demand an estimated $12.5 million per film, plus a share of the profits.Her two co-stars, Robert Pattinson and Taylor Lautner, get paid the same, but Stewart earned more than them this year because of Snow White and the Huntsman. Stewart’s earnings between May 2011 and May 2012 totaled $34.5 million, helping her rank 43rd on our Celebrity 100 list. (The list measures a combination of money and fame.)

http://www.forbes.com/sites/dorothypomerantz/2012/06/19/kristen-stewart-tops-our-list-of-highest-paid-actresses/



That's all for today folks!


p.s. Did I miss something important? Inform me using the comment section Beellloooww or on Facebook, Twitter or Google Plus.

Let's count the events of the day

1. Fiat, Tata Motors, Maruti may shut down plants temporarily

With vehicle sales continuing to dwindle due to high interest rates and petrol prices, many automobile manufacturers in India are planning to shut down their plants temporarily to reduce inventories.

While Fiat India is considering shutting down plant for a few days next month, Tata Motors will stop production of commercial vehicles at Pune for three days this week.

http://www.hindustantimes.com/News-Feed/Auto/Fiat-Tata-Motors-Maruti-may-shut-down-plants-temporarily/Article1-875094.aspx

2. Pakistan’s Gilani Disqualified As Premier After Ruling

Pakistan’s political strains escalated after the Supreme Court disqualified Prime Minister Yousuf Raza Gilani from the job because of a contempt conviction.

Gilani, censured by the court over failure to pursue corruption charges against President Asif Ali Zardari, was disqualified retroactive to April 26, 2012, according to an e- mailed statement from the Election Commission of Pakistan yesterday. Gilani’s party will respond after speaking with its coalition partners, Jehangir Badar, its secretary general, said at a news conference in Islamabad yesterday.

http://www.bloomberg.com/news/2012-06-19/pakistan-s-top-court-rules-gilani-ineligible-to-be-premier-1-.html

3. Wikileaks Founder Turns To Chavez Ally Ecuador For Asylum

Julian Assange sought asylum in Ecuador’s Embassy in London yesterday to avoid what he says are U.S. efforts to punish him for releasing diplomatic secrets through his Wikileaks website.

Ecuador is studying the request and is in contact with the U.K. government, the Andean country’s Foreign Minister Ricardo Patino told reporters in a brief statement in Quito. Assange entered the embassy in the Knightsbridge area of London after exhausting options in U.K. courts to avert extradition to Sweden, where he faces two counts of rape.

The move threatens to widen the breach between Ecuador, a member of the Venezuelan-led group of nations known as ALBA, and the U.S., just as Ecuador seeks renewal of trade benefits due to expire next year. The Andean country may grant Assange asylum to spite the U.S., prioritizing political gains over strategic interests, said Christopher Sabatini, senior policy director of the Council of the Americas.

http://www.bloomberg.com/news/2012-06-20/wikileaks-founder-turns-to-chavez-ally-ecuador-for-asylum.html

4. Renault to begin taking orders for Duster by June end

Duster, the heavily anticipated Sports Utility Vehicle (SUV) from Renault, is all set to be launched in the Indian auto market in June 2012 and the French car maker is gearing up to commence bookings a month in advance. The model, considered as the perfect blend of space, ruggedness and stability, is expected to kick-off a new scenario of competitive pricing in the SUV segment of the Indian auto industry. After the failure of its earlier premium offerings, including Fluence, Koleos and Pulse, Renault is readying itself to try its luck in India with the launch of its big and efficient SUV, Duster.

http://www.cartrade.com/car-bike-news/renault-to-begin-taking-orders-for-duster-by-june-end-117517.html

5. Lava launches XOLO X900

Lava mobile has launched the first intel powered android smart phone, which retails at 22,000.

6. Anushka Sharma appointed brand ambassador for TVS Scooty range

TVS Motor Company has signed on Bollywood actor Anushka Sharma as brand ambassador for its TVS Scooty range. Sharma will be the face of all brand campaigns related to the range.

H S Goindi, president, marketing, TVS Motor Company, said, “Anushka Sharma was an immediate choice for the TVS Scooty brand. She is well known for being spunky with her distinctive style and is an icon for young girls in India. She is seen by young women as one who is living her goals of being vivacious, independent and successful. We are confident that this association will further enhance the popular TVS Scooty Brand. ”

Sharma had previously worked in a TVS Scooty campaign in 2005.

http://www.campaignindia.in/Article/304516,anushka-sharma-appointed-brand-ambassador-for-tvs-scooty-range.aspx

Let's Count The Events Of The Day

1. Microsoft Unveils Tablet Computer Called Surface, Taking On IPad

                                                                                        (courtsey: Bloomberg)




Microsoft Corp. (MSFT) unveiled its own Windows-powered tablet computer called Surface, altering its strategy of focusing on software and relying on partners to make the machines in a renewed attempt to take on Apple Inc. (AAPL)’s iPad.
The tablet has a 10.6-inch display and will run the new version of Microsoft’s operating system, Chief Executive Officer Steve Ballmer said at an event yesterday at Milk Studios in Los Angeles. The device’s cover serves as a full keyboard with a track pad. Surface will be available later this year.

The company wants to release Windows 8, the new version of its software that is optimized for touch-screen tablets, in time for the end-of-year holidays and will have a version for x86 chips from Intel Corp. and for ones based on ARM Holdings Plc’s technology, which is also used in the iPad. The Surface tablet will be available in versions running both chip designs.

http://www.bloomberg.com/news/2012-06-19/microsoft-unveils-surface-tablet-computer-taking-on-ipad-1-.html


2. Emami restrained from broadcasting 'Navratna oil' advt

The Delhi High Court on Monday restrained Emami Limited a health and personal care product company from broadcasting an advertisement for its Navratna Oil brand on a plea filed by GK Burman Herbal (India) Private Limited. The latter had alleged that the TV commercial ‘degrades and disparages’ a similar product manufactured by the company.

The interim order of the High Court came on plea filed by leading Ayurvedic Oil Manufacturer, Burman Herbal, seeking a permanent injunction on circulation, or distribution of the advertisement which allegedly defamed and maligned its product, Himgange Ayurvedic Oil.

In its plea, Burman Herbal India (pvt) Ltd said, "The defendant (Emami) has knowingly and fraudulently issued the said advertisement to harm the immense goodwill and reputation which the plaintiff has earned in the last 25 years of the existence of its said product with the sole motive of driving out healthy competition from the market and to make illegal and unlawful gains."

http://www.lawetalnews.com/article/631/Emami-restrained-from-broadcasting-Navratna-oil-advt.htm

3. CCD founder acquires additional 3.84% stake in MindTree

 

CCD founder VG Shiddhartha has acquired additional 3.84% stake in MindTree . He raised his stake to 21.63% in the company, reports CNBC-TV18.



4. India Unexpectedly Holds Rate As Inflation Curbs Easing: Economy

India unexpectedly left interest rates unchanged as the fastest inflation among the biggest emerging markets narrows scope to bolster an economy struggling with trade and budget deficits and Europe’s debt turmoil.

Governor Duvvuri Subbarao left the benchmark repurchase rate at 8 percent, the Reserve Bank of India said in a statement in Mumbai today. Only four of 25 economists in a Bloomberg News survey predicted the outcome, with 19 expecting a 0.25 percentage-point cut and the remainder a half-point reduction.

Hours after the decision, Fitch Ratings cut India’s sovereign credit outlook to negative, joining Standard & Poor’s in signaling the country is at risk of losing its investment grade rating on concern growth will deteriorate. Subbarao’s room to counter the weakest Indian economic expansion in almost a decade is being limited in part by a plunge in the rupee, which has stoked an inflation rate already above 7 percent.

http://www.bloomberg.com/news/2012-06-18/india-unexpectedly-holds-rate-as-surging-prices-curb-cut-scope.html

5. Facebook Buys Face.com

Facebook has acquired Face.com, the facial recognition software company whose products power Facebook's photo tagging suggestions, according to a blog post.

Rumors of the acquisition began to circulate in late May.

Face.com also provides branded Facebook apps. Photo Tagger is very similar to the native Facebook app, while Photo Finder, the company's first app, helps users find untagged photos of themselves. Face.com offers an API (application programming interface) that powers third-party apps including CelebrityFindr, which allows users to search for photos of celebrities on Twitter using facial recognition technology.

http://www.cio.in/news/facebook-buys-facecom-272932012#

Let's count the events of the day

1. Rajat Gupta Convicted of Insider Trading

Rajat K. Gupta, the retired head of the consulting firm McKinsey & Company and a former Goldman Sachs board member, was found guilty on Friday of conspiracy and securities fraud for leaking boardroom secrets to a billionaire hedge fund manager.

He is the most prominent corporate executive convicted in the government’s sweeping investigation into insider trading.

The case, which caps a wave of successful insider trading prosecutions over the last three years, is a significant victory for the government, which has penetrated some of Wall Street’s most vaunted hedge funds and reached into America’s most prestigious corporate boardrooms.

http://dealbook.nytimes.com/2012/06/15/rajat-gupta-convicted-of-insider-trading/

Native name রজত গুপ্ত
Born Rajat Kumar Gupta
2 December 1948 (age 63)
Kolkata, West Bengal, India
Residence Westport, CT, USA
New York, NY, USA
Colorado, USA
Palm Island, FL, USA
Ethnicity Indian American
Citizenship United States
Alma mater IIT Delhi
Harvard Business School
Occupation Consultant, Management expert
Employer McKinsey & Company, Inc.
Net worth $100 million+ [1]
Title Senior Partner Emeritus and former Worldwide Managing Director

http://en.wikipedia.org/wiki/Rajat_Gupta



2. Wozniak calls Siri 'Poo-Poo'

"A lot of people say Siri. I say poo-poo," Wozniak said. "I was using it to make reservations long before Apple bought it."
"I would say, 'Siri, what are the five largest lakes in California?' and it would come up, one, two, three, four, five. And I would ask 'What are the prime numbers greater than 87?' and they would come up all in a row. That was pretty incredible," Wozniak said.
He said he told family and friends about Siri and how "This was the future: speaking things in normal ways, feeling like you're talking to a human and how Siri was the greatest program," Wozniak said.
"Then Apple bought Siri," he said. He then paused, lifted his right hand and gave it a big thumbs down.
"'What are the largest lakes in California?' I'd get all these lakefront properties. And I'd say 'What are the prime numbers greater than 87?' And I'd get prime rib," Wozniak said.
"I'm really disappointed, but it's still a market for the future," Wozniak said. "I think voice recognition for all the platforms is going to get better and better and better at putting together complete sentences and phrases. What did a human really mean? Like, if you said 'Five, I mean six.' It will understand a backup, the little faults in our speech that humans understand. It will understand that eventually."
Wozniak also said he is enthusiastic about Apple's new application called Passbook, which can essentially turn a user's iPhone into a digital wallet, storing coupons, store loyalty cards, airport boarding passes and movie tickets.

http://www.timesunion.com/local/article/Woz-gallops-in-to-a-horse-s-rescue-3630212.php#ixzz1y7ThxI8x
Years active 1973-2007



3. Microsoft to sell tablets under own brand

Microsoft Corp. plans to sell a tablet running the next version of the Windows operating system under its own brand, a major departure from its strategy of partnering with computer makers, according to a person familiar with the plans.

The Redmond, Wash., company may demonstrate the device at an event scheduled in Los Angeles Monday, said the person, who asked not to be identified because the plans haven't been made public. The company has said it intends to release the Windows 8 operating system in time for the holiday season.


http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/06/17/BU3D1P2OVN.DTL#ixzz1y7TxtHqy


4.Victoria Beckham planning to open boutique in Beijing

London: Singer-turned-fashion designer Victoria Beckham is planning to take her fashion line East by opening an online store and some boutiques in China.
The 38-year-old former Spice Girl, who raises four kids with husband David Beckham, said the idea is still in the early stages but she is hoping to take her designs to the stylish crowd in the country's capital, reported Contactmusic.

"We are just researching the idea of an online store at the moment, but I really like Beijing. I think the women there are fashionable. I already sell some clothes there but maybe one day I'll have boutique stores there. That is something I am hoping for," she said.


5. Lady Gaga's perfume leaked online


London: Pop star Lady Gaga was forced to unveil her first perfume on Twitter after photos of the bottle leaked online.
Pictures of the "Poker Face" star's first fragrance, Fame, surfaced online after which she had to tell her fans all about the scent and share her own pictures of the bottle and packaging, reported Contactmusic.

"Looks like photos of my perfume are being leaked. Oh you fashion editors I could just crinkle my hands at you," Gaga said.

When one follower asked if she plans to release a men's version, Gaga added, "My perfume was designed for women, but a lot of my gay (male) friends wear it."

Fame, which will go on sale later this summer, contains notes of "belladonna, crushed heart of tiger orchidea with a black veil of incense, pulverized apricot and the combinative essences of saffron and honey drops".

http://www.financialexpress.com/news/lady-gagas-perfume-leaked-online/962334/

6. JWT acquires controlling stake in Hungama Digital Services


Leading advertising agency JWT today said it will acquire a majority stake in digital services agency Hungama Digital Services for an undisclosed amount.
The exact shareholding pattern of the company was not revealed.

According to terms of the agreement, Hungama's activations arm, Hungama Promo Marketing, will become a part of Hungama Digital Services and will provide an engagement platform linked to online and offline deliveries, the companies said in a joint statement issued here.

http://www.financialexpress.com/news/jwt-acquires-controlling-stake-in-hungama-digital-services/961595/

7. News Corp buys ESPN Star Sports stake

News Corporation and ESPN today announced an agreement, under which a unit of the USD 61 billion global media company will buy the latter's 50 per cent equity stake in ESPN STAR Sports (ESS).
The transaction will allow News Corporation units to own and operate all of the ESS businesses while providing ESPN more independence and flexibility in future support of The Walt Disney Company's overall efforts in Asia, a media release said.

"After 16 years jointly managing ESS, we have decided to independently pursue future"

http://www.financialexpress.com/news/news-corp-buys-espn-star-sports-stake/958619/

LCTEOTD

 

1. Jubilant FoodWorks opens Dunkin' Donuts first store in India

Jubilant FoodWorks, the Indian distributor of Domino's Pizza, on Tuesday opened American doughnut brand Dunkin' Donuts first store in India, and plans to invest around Rs 12 crore to roll out 10 stores this fiscal."There will be a mix of flagship stores, stores in malls and kiosks," said Jubilant FoodWorks Limited (JFL) CEO Ajay Kaul during the opening of first store at Connaught Place in New Delhi, adding that the restaurants would be branded as 'Dunkin' Donuts & More' in the country.Dunkin' Donuts will compete in India with companies such as Cafe Coffee Day, run by Amalgamated Bean Coffee Trading Co., Lavazza SpA's Barista Coffee Co., and Starbucks Corp., which plans to open its first India store in August through its partnership with Tata Global Beverages.

http://timesofindia.indiatimes.com/business/india-business/Jubilant-FoodWorks-opens-Dunkin-Donuts-first-store-in-India/articleshow/13061819.cms

2. India to Dethrone Thailand, Vietnam as Top Rice Exporter

India, the largest rice grower after China, is poised to rival Vietnam as the world’s biggest shipper, ending Thailand’s 30-year reign, after favorable weather and higher government prices boosted the harvest to a record.Exports may climb to 7 million metric tons in the year ending Aug. 31, said Samarendu Mohanty, a senior economist at the International Rice Research Institute. That’s more than double the 2.8 million tons shipped in 2010-2011, according to the U.S. Department of Agriculture. Vietnam will export 7 million tons and Thailand 6.5 million tons, USDA data show.Rice, the staple for half the world, has slumped 17 percent since reaching the highest price since 2008 in September after India ended a three-year ban on exports of non-basmati varieties. Prices will probably stay under pressure in coming months as global production outpaces demand for an eighth year. That may extend a decline in global food costs, which fell for the first time this year in April, United Nations data show. Thailand was the top shipper last year with 10.6 million tons.

http://www.bloomberg.com/news/2012-05-09/india-set-to-pass-thailand-rival-vietnam-as-top-rice-exporter.html

3. Kishore Chhabria's whiskey brand Officers Choice now No. 1

Kishore Chhabria, a teetotaler, is on a high, virtually. "We've a long way to go in the spirits business. We want to improve our bottom line," says Chhabria, who's sparred in the past with his own brother, the late Manohar Chhabria, and his partner- turned rival Vijay Mallya, and survived.Officers Choice, the whiskey brand he helped create from scratch, has broken the seven-year-old reign of Vijay Mallya's Bagpiper Whiskey, to become the largest selling Indian spirits brand. Global drinks analysts now rank the brand the world's No. 1 by volume. Allied Blenders & Distillers ( ABD), the fledgling spirits company owned by Chhabria, is now changing strategy as it tries to reduce dependence on a single brand - Officers Choice.

On the anvil are a line of new spirit brands, which will reduce dependence on Officer's Choice. Lord & Master Brandy, Jolly Roger Rum and Officer's Choice Blue, a semi premium whisky, will be the new engines to grow the 1,600-crore liquor firm. This year, Officer's Choice Blue will exceed one million cases and the thrust in the coming months will be to grow new brands.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/liquor/kishore-chhabrias-whiskey-brand-officers-choice-now-no-1/articleshow/13002224.cms

Let’s count the events of the day

 

 

1. Hutchison Whampoa Said to Bid EU2 Billion for Eircom

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. (13) made a bid of about 2 billion euros ($2.6 billion) for Eircom Group, the Irish phone company in supervised credit protection, people with knowledge of the matter said.

2. Manchester City Signs Deal With Nike as Team Uniform Supplier

Manchester City, owned by a billionaire member of the Abu Dhabi royal family, signed a six-year agreement with Nike Inc. to have the world’s largest sporting-goods maker supply the soccer team’s uniforms.

 

3. ‘The Scream’ Sells for Record $120 Million at Sotheby’s

Sotheby’s (BID) managed a record price and sale tally at last night’s auction in New York, even as 15 lots went unsold.

The star was one of Edvard Munch’s four versions of “The Scream,” which set a record for a work of art at auction when it sold for $119.9 million.

“The Scream” smashed the previous record of $106.5 million, established in May 2010 by Pablo Picasso’s “Nude, Green Leaves and Bust.” The price for the Munch, which includes Sotheby’s $12.9 million commission, exceeds Christie’s entire Impressionist and modern art sale the night before.

4. Samsung Galaxy S3 to hit Indian markets soon

The much-awaited Samsung Galaxy S-III smartphone, which was unvieled here last evening, is expected to hit the Indian markets soon.
The Galaxy S-III model would be available in the European market towards the end of the current month and subsequently in the other parts of the globe from June onwards, Samsung Electronics President and Head of IT & Mobile Communications Division J K Shin said.

5. Govt plans to set up fund for buying overseas coal assets

NEW DELHI: Coal Minister Sriprakash Jaiswal today said the government is planning to set up a fund for acquiring of coal assets abroad and urged public sector companies to be proactive in making decisions on foreign investments.
The fund would be similar to a sovereign wealth fund. The Minister's comments come against the backdrop of severe coal shortage hurting power, steel and other sectors.
Jaiswal said even though Coal India Ltd (CIL) has surplus resources for investing outside, it is important to have financial support from the government for acquiring large assets abroad.

Let’s count the events of the day

 

1. Facebook Agrees to Buy Instagram Photo App for $1 Billion

Facebook Inc. (FB), the biggest social- networking service, is buying the Instagram mobile photo-sharing application for about $1 billion in cash and stock, using its biggest acquisition yet to lure users of mobile devices.Instagram, owned by San Francisco-based Burbn Inc., was valued at $500 million after raising about $60 million last week from investors including Sequoia Capital, said people with knowledge of the funding who asked not to be identified because the matter is private. The acquisition is expected to close this quarter, Menlo Park, California-based Facebook said today.

Instagram lets users take pictures with smartphones, retouch them with borders and filters, and then post the images on social networks. Founded in 2010, it has become the most popular free photo-sharing application on Apple Inc. (AAPL)’s App Store and boasts more than 30 million users. Owning it may help Facebook attract handset users and advertisers who target them, said Rebecca Lieb, an analyst at Altimeter Group LLC.

http://www.bloomberg.com/news/2012-04-09/facebook-agrees-to-buy-instagram-photo-service-for-1-billion.html

 

2. Sahara Group in talks to buy 'The Plaza' in New York for Rs 3,000 crore

Little over a year after he snapped up London's iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included Marilyn Monroe and the Beatles, for around $600 million (Rs 3,000 crore).

http://articles.economictimes.indiatimes.com/2012-04-06/news/31300279_1_grosvenor-house-hotel-sahara-group-subroto-roy

3. Loop Telecom to Shut Shop Outside Mumbai

Privately-held Loop Telecom Pvt. Ltd. Tuesday said it will shut shop across all of India except for Mumbai, which accounts for 3.25 million of the company's 3.26 million subscribers in the country.It added that it has asked the government for a refund of about 33.0 billion rupees ($645 million) as well as unspecified damages from the government, after the Supreme Court ordered the cancellation of 21 of Loop's 22 licenses in a wider corruption case involving allotment of bandwidth and permits in 2008.Loop Telecom will continue to operate in Mumbai as that license was given before 2008, a company spokesman said.

 

 

 

Worth Reading:

 

http://www.bloomberg.com/news/2012-04-09/billionaires-unmasked-as-coty-persists-in-pursuit-of-avon.html

http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Instagram-7-things-to-know/articleshow/12608854.cms

Let’s count the events of the day

 

1. Emami to revive over-the-counter products like Zandu Pancharishta, Nityam Churna

Consumer products maker Emami is reviving its over-the-counter healthcare business with a slew of brand relaunches along with new distribution system, packaging and marketing blitz."The focus on the OTC portfolio is part of a consolidation exercise we have undertaken to increase sales from existing brands, instead of randomly entering into newer categories," Emami Ltd CEO (Sales, Supply Chain and Human Capital) Krishna Mohan said.The brands being relaunched include digestive tonic Zandu Pancharishta, blood and skin purifier Zandu Lalima, laxative Nityam Churna, cough tonic Sardi Ja and even popular pain reliever Zandu Balm-some of its own and some acquired from Zandu’.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/emami-to-revive-over-the-counter-products-like-zandu-pancharishta-nityam-churna/articleshow/12589273.cms

 

2. Accor bets big on India, plans 75 hotels in 3 years

 

When he came visiting India last year, Denis Hannequin, the chairman and chief executive of Paris-based hotel group Accor, wasn't impressed with his company's performance in India. "Just eight hotels in a decade... I was not happy with the development of the Accor brand in India," he says.Last week, Hannequin, a former McDonald's chief executive, returned to India with an aggressive plan that will help Accor add around 75 hotels in the country in three years, taking the number of properties from the current 15 to 90, and making India one of its key markets.

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/accor-bets-big-on-india-plans-75-hotels-in-3-years/articleshow/12588431.cms

 

3. Social venture fund Aavishkaar invests 26 crore in two companies

 

Karadi Path Education Co will receive 8 crore to expand its English language learning operations focussed on primary school students particularly in semi-urban and rural areas.Separately, Aavishkaar has also invested 18 crore in bio-mass company Vana Vidyut which is expected to set up India's first grid-connected bio-mass power plant with captive bio-mass feed stock from dedicated energy plantations.Aavishkaar, a rural and semi-urban-focussed venture fund raised capital which closed a first tranche of $70 million last year, has raised money from a set of marquee investors including International Finance Corporation, Cisco and CDC.

http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/social-venture-fund-aavishkaar-invests-26-crore-in-two-companies/articleshow/12590335.cms

 

Worth Reading:

http://www.bloomberg.com/news/2012-04-09/ceos-praising-diversity-stay-silent-on-no-women-augusta.html

Let’s count the events of the day

 

 

1. Ashton Kutcher To Play Steve Jobs In Upcoming Biopic

Ashton Kutcher is playing Steve Jobs. According to the AP, Kutcher's publicist has confirmed that the "Two and a Half Men" star will play the late Apple co-founder in the indie film "Jobs."According to Variety, which first broke the news on Sunday, the movie will follow Jobs on the journey that took him from "wayward hippie" to Apple co-founder. The movie is scheduled to begin production in May while Kutcher is on hiatus from "Two and a Half Men."

http://www.huffingtonpost.com/2012/04/03/ashton-kutcher-steve-jobs_n_1400093.html

2. Aberdeen Asset Management seeks $150 million in damages from Satyam

A group of investors led by Scottish investment house Aberdeen Asset Management have claimed damages from Mahindra Satyam in connection with losses they allegedly suffered on account of the 2009 fraud perpetrated by erstwhile Satyam promoter.The investors claim losses in excess of $150 million and interest at the rate of 8%, Satyam informed Indian stock exchanges on Saturday. The claim notice relates to legal action initiated Aberdeen Global and others before the High Court of Justice, Queen's Bench Division, Commercial Court in the UK.

http://economictimes.indiatimes.com/tech/ites/aberdeen-asset-management-seeks-150-million-in-damages-from-satyam/articleshow/12570066.cms

 

 

 

 

Worth reading:

Tata Motors at the 2012 DefExpo: Model Showcase!

http://economictimes.indiatimes.com/tata-motors-at-the-2012-defexpo-model-showcase/articleshowpics/12530098.cms

Renault Sherpa Light military truck displayed at 2012 Defexpo

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/Renault-Sherpa-Light-military-truck-displayed-at-2012-Defexpo/articleshow/12569945.cms

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/purnendu-chatterjee-the-billionaire-who-lost-in-west-bengal/articleshow/12484506.cms

http://www.businessweek.com/slideshows/2012-04-02/playing-office-actors-as-business-leaders#slide11

The events of the day

 

1. IPL 2012: Kings XI Punjab rope in Videocon d2h, OCM as sponsors

Kings XI Punjab have roped in Videocon d2h and OCM as sponsors for the fifth season of the Indian Premier League (IPL), it was announced Wednesday.Videocon d2h will be the title sponsor and its logo will adorn the Kings XI Punjab team jersey.

http://economictimes.indiatimes.com/news/news-by-industry/media/entertainment-/entertainment/ipl-2012-kings-xi-punjab-rope-in-videocon-d2h-ocm-as-sponsors/articleshow/12533121.cms

 

2. Bajaj Auto raises stake in KTM Power Sports to 47%; has been consistently increasing stake

Bajaj Auto, India's second-largest two-wheeler maker, has tightened its hold on KTM Power Sports by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/bajaj-auto-raises-stake-in-ktm-power-sports-to-47-has-been-consistently-increasing-stake/articleshow/12526404.cms

From Wikipedia: KTM Sportmotorcycle AG is an Austrian motorcycle, bicycle and moped manufacturer. The company was founded in 1934 by engineer Hans Trunkenpolz  in Mattighofen. It started out as a metal working shop and was named Kraftfahrzeuge Trunkenpolz Mattighofen. In 1954 KTM began producing motorcycles.KTM is most commonly known for its off road motorcycles though in recent years it has expanded into street motorcycle production.

 

3. Tata Power launches joint venture firm Cennergi with Exxaro Resources

Tata Power, along with South Africa's Exxaro Resources today launched their joint venture Cennergi (Pty) Ltd, that would focus on developing electricity generation projects in the African continent.Cennergi also marks a major overseas foray for Tata Power, India's largest private power generator.

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/tata-power-launches-joint-venture-firm-cennergi-with-exxaro-resources/articleshow/12535009.cms

4. Canon ropes in Anushka Sharma; eyes Rs 2,300 crore sales this year

http://economictimes.indiatimes.com/tech/hardware/canon-ropes-in-anushka-sharma-eyes-rs-2300-crore-sales-this-year/articleshow/12532166.cms

 

Worth watching:

 http://www.youtube.com/watch?v=9c6W4CCU9M4

 

Worth Reading:

 http://www.bloomberg.com/news/2012-03-28/golf-s-masters-facing-male-only-dilemma-with-new-ibm-ceo.html

http://www.financialexpress.com/fe_express_gallery.php?id=161

The events of the day..

1. Madhu Kannan, the youngest CEO of Asia's oldest bourse, is leaving Bombay Stock Exchange operator BSE Ltd to join Tata Sons, which controls India's largest corporate house, where he will report to the executive in line to become group chairman at the end of this year.

He joins a youth movement at Tata, where Cyrus Mistry, 43, is due to become chairman when Ratan Tata retires at the end of this year. Tata Sons, which controls the salt-to-software Tata Group, said Kannan will be group head of business development, reporting to Mistry, who is now deputy chairman.

The BSE's non-executive chairman, S. Ramadorai, is vice chairman of TCS, India's largest software services exporter.

http://www.reuters.com/article/2012/04/03/india-tatas-idUSL3E8F37A120120403
2. U2 stars Bono and the Edge invest millions in internet storage company Dropbox

The U2 stars Bono and the Edge are gambling on their biggest hit yet after investing millions of dollars in an internet storage company which is tipped to become the next Apple.

Alongside his reputation as a global philanthropist, Bono has become a shrewd investor in web technology companies through Elevation Partners, a $1.9 billion private equity fund which he co-founded in 2004.

A $270 million investment in Facebook, buying shares from employees between 2009 and 2010, has already paid dividends. The stake is valued at $1 billion ahead of the social network’s Initial Public Offering this year.

A $100 million stake in Yelp, a consumer business review website, has tripled in value after the company went public last month.

Elevation has also suffered failures. A $117 million stake in SDI Media, a dubbing and subtitle company, went south after it was taken over by debtors and a $325 million investment in smartphone maker Palm, produced a modest $25 million gain.

Bono and Edge were introduced to Dropbox by entrepreneurs Ali and Hadi Partovi, who were investors in the company. The Partovi brothers created a Facebook music video-sharing app, iLike, which Bono endorsed by giving an interview.

Dropbox, described by Forbes magazine as “tech’s hottest start-up”, offers its storage service for free but is marketing a $20 a month upgrade for heavy users requiring 100Gb of storage. Each day 325 million files are saved through Dropbox.

http://www.independent.co.uk/arts-entertainment/music/news/u2-stars-bono-and-the-edge-invest-millions-in-internet-storage-company-dropbox-7615216.html

3. TAFE plans to invest Rs.100 crore on capacity expansion at Madurai

The flagship company of the Amalgamations Group, the over Rs.8,000-crore TAFE, would invest around Rs.100 crore in a project at Madurai where it already has another plant.

Addressing a press conference here on Tuesday, Mallika Srinivasan, Chairman and CEO, said the proposed facility would make high horse power tractors and aim at global customers. It would have a capacity of 60,000 tractors a year. The project would go on stream in the middle of next year, she added.

http://www.thehindu.com/business/article3277656.ece


4.  No merit in class action suit: TCS


Tata Consultancy Services, Asia’s largest software services exporter, said the class action suit brought against it by two former employees — Gopi Vedachalam and Kangana Beri — is without any merit. The US tax refund cheques that the company has collected are not unjust, TCS added. The US district court judge, Claudia Wilken, issued an order on Monday granting a motion for bringing a class action suit against TCS and its parent Tata Sons, on behalf of Indian workers sent to the US to work on IT jobs from February 14, 2002 through June 30, 2005.


http://www.mydigitalfc.com/it/no-merit-class-action-suit-tcs-722




5. Micromax unveils tablet PC 'FunBook' at Rs 6,499, based on Ice Cream Sandwich OS


http://economictimes.indiatimes.com/tech/hardware/micromax-unveils-tablet-pc-funbook-at-rs-6499-based-on-ice-cream-sandwich-os/articleshow/12519343.cms




6. Babus dash MBA sarpanch Chhavi Rajawat's plan to transform villages

The same month last year she spoke at the UN about transforming rural India by ensuring basic facilities like drinking water, electricity, toilets, schools and jobs for the villagers through panchayats.The youngest and MBA graduate sarpanch of Rajasthan, Chhavi Rajawat on Saturday said the panchayats should be closed down. The reason: petty government officers were not allowing the elected representatives to work. Public utility works were being "deliberately and maliciously" held up in government procedures by 'biased' officers. The rural police, too, were being controlled by such officers."Our panchayats are a farce and should be shut down. If an educated sarpanch, especially a woman, can be harassed by these officers then imagine what difficulty an uneducated woman sarpanch or any other sarpanch would be facing," Rajawat, the Tonk district's Soda gram panchayat sarpanch, said at a press conference in the city.Rajawat gained international recognition when, despite being an MBA graduate having better prospects in the corporate sector, she chose to contest and won the sarpanch election in her village panchayat in 2010. In March 2011, she was invited to speak at the 11th Info-Poverty World Conference at the UN. She was recently named among the young global leaders announced by the World Economic Forum.


http://economictimes.indiatimes.com/news/politics/nation/Babus-dash-MBA-sarpanchs-plans-to-transform-villages/articleshow/12514454.cms








Worth Reading:


http://www.bloomberg.com/news/2012-04-03/dutch-boy-seeks-economy-prize-with-greek-euro-exit-plan.html


http://www.bloomberg.com/news/2012-04-02/arabica-premium-seen-higher-on-robusta-supply-surge-commodities.html (Starbucks and Nestle)


http://www.bloomberg.com/news/2012-04-02/tata-wage-suit-in-california-wins-class-action-certification-1-.html


http://news.cnet.com/8301-1035_3-57408672-94/instagram-for-android-is-now-available/

Wash Trading: Entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been made, without resulting in a change in the trader's market position.

Let’s Count the Events of the Day

 

1. Tech Mahindra-Mahindra Satyam merger: Exchange ratio of 2:17 positive for Tech M, say analysts.

Shares of Tech Mahindra rallied on Wednesday after its board approved merger with Mahindra Satyam to create the fifth largest software services exporter by market value.

http://economictimes.indiatimes.com/markets/analysis/tech-mahindra-mahindra-satyam-merger-exchange-ratio-of-217-positive-for-tech-m-say-analysts/articleshow/12352802.cms

 

2. Low-cost car to be sold under Datsun brand in India: Nissan

 

Nissan Motor Co said on Wednesday that the new low-cost car it has planned for India will be sold under the firm's revived Datsun branding.CEO Carlos Ghosn made the comment at a briefing in Yokohama, near Tokyo.

http://economictimes.indiatimes.com/news/international-business/low-cost-car-to-be-sold-under-datsun-brand-in-india-nissan/articleshow/12351660.cms

 

Bloomberg Reports:

“Maruti Suzuki, India’s biggest automaker, derives the majority of its sales from the mini-car segment that includes cars with 1 liter engines and less than 3.6 meters long. The New-Delhi based unit of Suzuki Motor Corp. (7269) offers its best- selling Alto model from 240,352 rupees. In October, Hyundai Motor Co. (005380) added its cheapest model, the Eon, priced from 269,999 rupees, to compete with Maruti in this segment.Compacts and mini-cars accounted for more than 75 percent of total passenger-car sales in the nation in the eleven months ended February, according to data released by the Society of Indian Automobile Manufacturers. Maruti had 42 percent of the total Indian passenger-car market while Hyundai had 19 percent and Nissan 1.5 percent, according to data from the group.”

http://www.bloomberg.com/news/2012-03-20/nissan-to-revive-datsun-brand-after-three-decades-to-boost-sales.html

 

 

3. Reliance Foundation launches Braille newspaper with Real Hero Swagat Thorat

The Hindi Braille newspaper was launched at Kamala Mehta School for the blind. It is called ‘Dhrishti’