Top Business News Of The Week – It’s a pleasure to join the CBC News Network Weekend Business Panel from home away from home in beautiful Nova Scotia with Elmer Kim and Natalie Calata. Our discussion included thoughts on Air Canada’s reduced flight schedule, the latest Canadian economic numbers and the Cineplex fee that has moviegoers talking. You can watch our segment here and below are some thoughts on our discussion.
The travel industry has been hit hard by the COVID19 pandemic, and it’s no wonder that after more than two years, people are eager to get out and explore again. Many aviation entities, including airports, security and airlines, are known to be understaffed, leading to many delays and flight cancellations. Air Canada has announced a nearly 15% reduction in its summer schedule, while Westjet has been aggressively reducing its schedule. It is similar to shrinking the playing field to achieve successful performance in a large system that is struggling and unable to operate at full capacity. This situation is a good example of the many implementation challenges, and businesses that experience significant deviations from plan can face significant cost overruns and resource drains in the recovery effort. It will be interesting to see the degree of operational success airlines can find over the summer, as well as what the fall brings.
Top Business News Of The Week
Canada’s economy contracted slightly in May as preliminary data showed GDP fell 0.2%. Unlike previous months, the recovery is not expected to be a straight line; constant monitoring is the approach adopted here. Notably, the housing market continues to cool, indicating an impact from rising interest rates, while manufacturing and construction are sectors to watch, as staffing and supply chain issues may impact. The service sector has also been hit hard by the pandemic, and the relatively slow recovery may be a function of staffing issues, as well as consumer preferences as inflation continues to rise.
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Cineplex’s new online ticket prices have come as no surprise to some moviegoers, as the company says it plans to invest in and develop its digital infrastructure. While the fee does not apply to all ticket purchases, such as those purchased in person at the box office, it seems counterintuitive when entertainment and events companies should be doing everything they can to accommodate customers. It may not seem like a lot of money, but consumers have a lot of choices and once they’re gone, it can be very difficult to get them back. This is an important reason that business leaders must think carefully when making decisions that directly affect customers as well as their company’s competitive position in the market. After the recent rally in the market and hopes of a better economic outlook in recent weeks, this week India Inc. remains a mixed bag of news for Here we take a look at the top 10 Indian business news of the past week.
Prime Minister Manmohan Singh found unlikely support in Ratan Tata after being branded a failure by Time magazine and somehow criticized by India’s top honchos, including Azim Premji and Narayana Murthy. During the week, India’s CEO defended the man he called the “architect of the 1991 reforms,” saying it was wrong to single out the prime minister for the country’s economic woes. However, he offered some advice to the Prime Minister and said, “…our Prime Minister must break with convention, restore the government’s confidence, put the country back on the path to growth by implementing the promised reforms, removing obstacles to growth and controlling crony capitalism.” TOI reported.
In Reliance Industries News: RIL revenue falls 21% in Q1 2012, sells 80% stake in Kurdistan oil blocks to Chevron
RIL has posted its third consecutive decline in profit. Revenue in the first quarter of 2012 decreased by 21%. 4,473 million dollars, but not surprising, as analysts expected a decline of more than 18%. Conglomerate’s 3 main business segments petrochemical, oil and gas and processing contributed to the decrease. It also announced that it would sell an 80% stake in two Kurdistan oil blocks to Chevron, one of the world’s largest companies by revenue.
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In an uproar that has rocked India Inc, workers at Maruti Suzuki’s Manesar plant have brutally hounded senior officials. Avanish Kumar Dev, HR general manager, died of injuries after sustaining multiple fractures and then burnt himself to death after angry workers set fire to his office. Many other high-level executives, including vice presidents and plant managers, were targeted, injured and hospitalized. It is believed that the riot started after a minor dispute between a manager and a worker. The Manesar plant has remained closed since Wednesday’s incident.
In Q3 2012, Mercedes plans to launch its B-Class Sports Tourer in India to take on the likes of the Audi Q3 and BMW X1. The B-Class is the lower end of the premium car segment. The German automaker seems to have taken note of the popularity of its competitors’ entry-level models. The C-Class, Mercedes’ cheapest car in India is now priced at a little under Rs. 29 million. It is 10-15% more expensive than the Audi Q3, which is priced between 26-27 lakhs. Currently owns BMW and Mercedes 1
Share prices of many companies belonging to the Adani group fell after blogger Gautam Adani published false rumors about the arrest of NCP chief Jayanthi Gohil. A blog run by a Vadodara-based blogger wrote, “Believe it or not: Our Ahmedabad bookie says: Mr. GAUTAM ADANI has been arrested? What about ADANI STOCKS? Something related to the kidnapping of a Congress leader… We are hearing (rumors or rumours) Facts?) Let’s see…” The stock fell 8.4% to close at Rs.195 on Tuesday.
Tihar Jail, India’s largest jail complex, partners with India’s largest retailer RIL, Vishal Retail and Spencer’s Retail. Jail’s products have already found their way to Reliance stores in Gurgaon, but this move could see growth. At present, the products of Tihar Jail include bakery, spices, handlooms, textiles, garments, detergents, soaps and other household items. Delhi Police Commissioner Neeraj Kumar, former DG Tihar Jail, expects the revenue to cross Rs. 30 cores.
Top 10 Business News Of The Week #10
If market rumors and a recent TOI report are to be believed, HCL Tech’s BPO has won a $200 million outsourcing order from Citibank. It could create more than 800 jobs at the company and comes on the back of a recent $250 million outsourcing deal with UBS.
Largest car manufacturer. Figures this week showed M&M’s April-June 2012 sales rose 28% to 61,504 units, compared with Tata Motors’ 7% decline to 60,405 units in the same period. Currently, Maruti Suzuki remains the largest car manufacturer in India, followed by Hyundai’s 2nd largest unit in India.
Flipkart.com has announced a 50% increase in its minimum order value for free home delivery from Rs. up to 200 rubles. 300. In the last 12 months, Flipkart.com has added more categories to its portfolio to counter growing competition from bigger players, including Amazon’s Junglee.com, Indiatimes Shopping and others. That wasn’t the only reason Flipkart was in the news this week. Reports have also surfaced that the online shopping portal will need more than $150 million in additional funding over the next 12 months.
In Kingfisher Airlines News: Share price falls below par, DGCA note absent, Mallya has potential FDI investors
Media: Cbc News Network Weekend Business Panel (july, 2022)
Shares of the debt-ridden and troubled airliner closed below par on Tuesday, despite the aviation ministry’s recent clarification that it would not close KFA until at least five aircraft were operational. During the trade, it touched an all-time low of Rs. 9.8, later closing at Rs. 9.9. Later in the week, former DGCA director general Bharat Bhushan claimed that a controversial note questioning the security of the KFA had gone missing from the premises. Owner Vijay Mallya said on Saturday that he has spoken to potential foreign investors who want to invest in the carrier.
Kaushambi Vaishnav is a freelancer with professional and personal interest in media, technology, business, current affairs and internet. FOX Business host Charles Payne explains why he’s always a “cheerleader” for opportunities on “Making Money” when navigating the stock market. ‘
Wall Street is in for another busy week of corporate earnings and economic data, including October’s nonfarm payrolls report and the Federal Reserve’s long-awaited interest rate decision.
The Dow Jones Industrial Average rose 800 points, or 2.59%, on Friday, while the S&P 500 and Nasdaq Composite rose 2.46% and 2.87%, respectively. The rally was triggered by Apple reporting strong third-quarter results.
March 6, 2020
Also included are companies whose earnings are in focus after the call
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