Ford bans business travel after two employees test positive for COVID-19

Ford is banning all business trips after two of its employees based in China tested positive for COVID-19, the disease caused by the novel coronavirus that’s sickened over 90,000 people around the world and over 100 in the US. The employees have been quarantined after being diagnosed with the disease and are now recovering, according to Bloomberg. Ford is prohibiting all travel, international and domestic, until March 27th, and will revisit the ban on a weekly basis, Bloomberg says. The automaker is the latest major corporation to ban or strongly discourage air travel as COVID-19…

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Oil ministry seeks approval to split GAIL; pipeline business may be sold later

NEW DELHI : The Oil Ministry has moved a cabinet note seeking approval for hiving off state-owned gas utility GAIL (India) Ltd’s pipeline business into a separate entity for a possible sale to a strategic investor at a later date, sources privy to the development said. GAIL is India’s biggest natural gas marketing and trading firm and owns more than 70 per cent of the country’s 16,981-km pipeline network, giving it a stranglehold on the market. Users of natural gas have often complained about not ‘fairly’ getting access to GAIL’s 12,160-km pipeline…

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Research: How to Build Trust with Business Partners from Other Cultures

Trust is the social glue that holds business relationships together. Business partners who trust each other spend less time and energy protecting themselves from being exploited, and both sides achieve better economic outcomes in negotiations. But, how do managers decide whether to trust a potential partner outside of their business? And how does culture influence this decision-making process? To answer these questions, we interviewed 82 managers from 33 different nations in four regions of the world identified by the World Bank as the engines of the global economy: East Asia, the Middle…

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Air India to hire law firm for assessing labour issues, business contracts

National carrier Air India has invited bids from law firms to assess labour issues, possible liabilities arising out of litigation and group companies’ contracts with various business partners ahead of disinvestment in three of its entities—Air India Ltd., Air India Express Ltd. and Air India SATS Airport Services Pvt. Ltd. (AISATS). The due diligence will cover a range of issues such as existing arrangements with employees, employee benefits and labour disputes along with Air India group’s contracts with a host of business partners valued above ₹50 crore, including aircraft lease and fuel supply arrangements. It…

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WEWORK’S FOUNDER MAKES HIS BEST BUSINESS MOVE YET: QUITTING

Listen, don’t worry about Adam Neumann, who was just ousted as the CEO of The We Company; first of all, he’s still the non-executive chairman of The We Company. Besides, entrepreneurs are like vampires: unless you put a stake through their heart, they’ll come back. (Just ask Travis Kalanick, who’s claiming his next act will be “bigger than Uber.”) Neumann will be fine. The better question is if We will be fine. Another good question is if SoftBank, We’s biggest shareholder, will be fine. WE IS NOW IN THE PROCESS OF UNWINDING FROM ADAM…

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Reverse Pitch | Every business will soon be subscription business: Sanjay Mehta

Subscription economy has opened up new opportunities with startups. It is a big enough market and an opportunity for 100X.VC to fund them. Startups and large corporations alike are dipping their toes into the subscription business model. The subscription economy is bigger than the sharing economy—it’s a significant shift in pricing from a one-time-buy to pay-per-use to now a fixed-fee monthly payment model for all you can consume. At 100X.VC, we back startup founders with exponential thinking. The subscription business model has grown exponentially in recent years. We are excited…

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How to start your own ecommerce business in India

Bill Gates once said: “If your business is not on the internet, then your business will be out of business.” The ecommerce industry is ushering in the next wave of change for the Indian economy and if you’ve been thinking about venturing a foot into its world of infinite profits, then the clock is ticking…the time is ripe to start your own ecommerce business in India. Amazon, Flipkart, Snapdeal all showed us that ecommerce truly is the future. And the only way they became as big as they did was because…

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BACQ to provide loans, debt financing, business assistance to companies

There is nothing new about the fact that Sachin Bansal had been in talks with RBI to understand the banking guidelines to reportedly open his own bank. Neither is his financial services agenda and NBFC investments and going bullish on fintech and agritech segment with BAC Acquisitions a breaking news. However, in the latest documents filed by the company with Registrar of Companies at Ministry of Corporate Affairs, certain changes were made to the Memorandum of Associations – a fundamental document on the basis of which a company has to operate. To elucidate, MoA…

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JSW Group enters paints business with ‘Any Colour, One Price’ USP

The $13 billion Sajjan Jindal-led JSW Group, operating in the core sectors of steel, energy, cement and infrastructure, is entering into paints business in India with JSW Paints. Claimed to be the first Indian conglomorate to enter into the paint business in the country dominated by domestic major Asian Paints, Kolkata-based Berger Paints or Japanese major Nippon, JSW Paints will manufacture and market both industrial coatings as well as decorative paints. In industrial coatings, JSW Paints commences operations with coil coatings and in the decorative paints segment, the company will…

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Tata Sponge finishes acquisition of Usha Martin Ltd’s steel business

Kolkata: Tata Steel’s subsidiary Tata Sponge Iron on Tuesday said it has completed the acquisition of steel business of debt-ridden Usha Martin Ltd (UML), though transfer of some assets including mines and certain land parcels is pending. “This is to inform you that the Company has completed the acquisition of steel business undertaking including captive power plants, today (Tuesday) i.e. on April 9, 2019, pursuant to a cash consideration (after adjustment for negative working capital and debt like items) payable to UML of ₹4,094 crore, which is subject to further hold backs of ₹640 crore, pending…

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