February 24: The day in pictures
February 24: The day in pictures
One pound bags of Dunkin' Donuts Original Blend coffee are on display at a Dunkin' Donuts store in Tewksbury, Massachusetts
Dunkin' Donuts plans to launch its brand in India, partnering with fast-food operator Jubilant Foodworks Ltd, which runs the Dominos Pizza chain in the country, Jubilant's Chief Executive Ajay Kaul said on Thursday.
Dunkin' Donuts, owned by private-equity firms Carlyle Group, Thomas H Lee Partners and Bain Capital, is the latest in a series of US restaurant chains to tap into the booming demand for fast food in Asia's third-largest economy.
The Indian fast-food sector is growing at roughly 25 to 30% a year as an economy expanding at nearly 9% boosts purchasing power in the burgeoning middle class, and an aspirant younger crowd shows an affinity for global brands.
Dunkin' Donuts, known primarily as a breakfast chain in the United States, will offer an all-day dining experience in India.
Ferrari Chairman Luca Cordero di Montezemolo gestures as he arrives during the \"Wrooom, F1 and MotoGP Press Ski Meeting\", Ducati and Ferrari's annual media gathering in Madonna di Campiglio
Ferrari Chairman Luca Cordero di Montezemolo's salary in 2010 was more than twice that of Fiat boss Sergio Marchionne, making him the best-paid executive in the whole Fiat Group.
According to full 2010 results published this week, Montezemolo, who was Fiat's chairman until last April, was paid 8.7 million euros ($11.97 million) in 2010 while Marchionne got 3.5 million euros.
Marchionne, at the helm of Italy's biggest industrial group since 2004, got 3.050 million euros for his role in Fiat, which owns 25% of US maker Chrysler, and 423,300 euros for his role in the Swiss unit Fiat Switzerland SA.
Montezemolo was paid 7.549 million euros for his role in Ferrari and 1.033 million euros for his role in Fiat between 2004 and 2010.
A potential customer looks at a 2009 Chevrolet Impala sedan at a car dealership in Dearborn, Michigan
General Motors Co is likely to report full-year earnings of more than $5 billion, its first annual profit in six years, although rising commodity prices and a drag from its European operations probably curbed the fourth-quarter performance.
GM's results, due on Thursday, come at a pivotal time for investor sentiment in the US auto industry, still widely seen as being in the early stage of recovery from its near-collapse in 2008 and 2009.
Analysts have been encouraged by GM's strength in China and its progress in slashing costs and debt in a bankruptcy funded by the Obama administration in 2009.
But since GM's record-setting $23 billion initial public offering in November, investors have also become concerned about the pressure on profit margins from rising commodity prices, higher costs for launching new vehicles and the ri
A vendor waits for customers at his vegetable and fruit shop at the wholesale market in Mumbai
Food inflation accelerated slightly in mid February on rising prices of milk and fruits, amid expectations the government may announce fresh measures to rein in inflation in the budget.
Indian food inflation is among the highest in Asia despite good harvests and food prices have been in double digits for much of the last year, sparking street protests and keeping pressure on the government already under fire over corruption scandals.
Thursday's reading was the last before the February 28 budget, where Finance Minister Pranab Mukherjee is expected to announce measures to boost farm productivity and trim fiscal deficit. He will also probably hold off on a pending reform to deregulate diesel prices, which would likely fuel inflation.
India's food index rose 11.49% in the week ending February 12, despite policymakers' often repeated p
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