Forensic auditors in a fix over Data Protection Bill, seek exceptions
The Personal Data Protection Bill, 2019, has thrown up a fresh set of challenges for forensic auditors, who want the proposed law to carve out exceptions for their services, which entail accessing personal data such as bank details, emails, and medical insurance. A forensic audit requires a deep inspection of the auditee company’s records by accessing its hard drives, laptops, and desktop computers. Read more.
India signals duty cuts on wine, auto; EU keen on investment protection
Despite India’s willingness to slash tariffs on wines and automobiles from the European Union (EU), the bloc remains firm that its concerns on investment protection will need to be addressed in any future bilateral deal. Read more.
Cyrus Mistry actions hurt Tata group interests, Tata Sons tells SC
Tata Sons, the holding company of the Tata group, on Thursday moved the Supreme Court (SC) with an appeal to quash the National Company Law Appellate Tribunal (NCLAT) order that had restored Cyrus Mistry as Tata Sons executive chairman after holding the appointment of the current chairman, N Chandrasekaran, “illegal”. Read more.
BPCL, Air India, Concor divestments unlikely by March-end: Govt official
The government is unlikely to complete the strategic sale of Bharat Petroleum Corporation (BPCL), Container Corporation of India (Concor), and Air India by March-end, said a senior government official. “The government has to respond to what the potential bidders ask for. Sometimes, they seek time to examine financial statements. Sometimes, they want to do physical due diligence,” said the official. Read more.
Marico domestic volume growth dips in Q3, says revival hopes belied
Fast-moving consumer goods major Marico said on Thursday overall consumption trends during the December quarter did not hold out hopes of a revival in sentiment. “Category growth across personal care remained under pressure, while the foods and allied categories fared relatively well,” Marico said in a statement on the BSE. Read more.
Smartphone sales in India likely to surge 14% in 2020, says analyst
Notwithstanding the ongoing slowdown gripping most consumer goods categories, the sale of smartphones in India -- the largest market for handsets after China – is expected to grow by up to 14 per cent in 2020, according to analyst firm TechArc. Read more.
Dutch brewing giant Heineken likely to raise stake in United Breweries
Dutch brewing giant Heineken is likely to increase its stake in the United Breweries (UBL) in its bid to attain controlling stake of 51 per cent or more from the current level of around 46 per cent in the beer company. Read more.
Restaurants likely to fight back as food ordering apps plan commission hike
There could be yet another war brewing between restaurant owners and aggregators as food ordering apps are believed to be planning an increase in commissions, restaurateurs feel. However, both Swiggy and Zomato have denied such plans. Read more.
Consumer goods’ festive sales hit a four-year high
A buoyant stock market, wider availability of consumer credit at 0% interest, and the harsh winter in the North that triggered sales of heating products and winter wear brought along with them some good news as retailers and consumer goods companies said sales in the October-December festive quarter had been the best in past four years on account of ‘pent-up demand’, reports The Economic Times.
Hinduja, Synergy, Dubai fund may bid for Jet Airways
South America’s Synergy Group, London-based Hinduja Group and a Dubai-based fund are the three potential bidders for bankrupt Jet Airways (India) Ltd, according to sources quoted in report by LiveMint.