Month: February 2024

Body Shop UK gets into insolvency; 2,000 jobs and 200 stores at risk in the UK

The Body Shop’s UK business has fallen into administration, putting more than 2,000 jobs and 200 stores at risk in a further blow to Britain’s shopping districts, as per Bloomberg.

Aurelius, which also owns sportswear chain Footasylum and Lloyds Pharmacy, bought The Body Shop from Brazilian cosmetics conglomerate Natura & Co., which had owned the brand since buying it from L’Oreal in 2017.

Saffola Honey unveils new packaging on Sundarbans Day

The new campaign aims to generate excitement and anticipation surrounding the new Saffola Honey Active pack, which embodies the brand's promise of natural and unadulterated honey sourced from forests and pristine regions including Sundarbans.

The brand has also unveiled an immersive CGI video as part of its campaign.

Jio’s Valentine’s Day nudge at Airtel creates social media banter

Airtel responded to the post, advising users to try everything before making a decision. “Sab kuch try karo, phir sahi chuno”, the company's X handle responded, humorously adding "just saying" to its response. (Representative image by Possessed Photography via Unsplash)

The telecom company Reliance Jio Infocomm Limited, pointed out the red colour in Airtel’s logo, suggesting its users to abandon Airtel and switch to JioAirFiber instead. This post has garnered a lot of reactions on social media.

Indian-origin CEO Amit Midha to lead Saudi Arabia’s $100 billion firm, Alat

Midha said Alat’s “mandate is to transform the global industries of electronics and advanced industrials by creating a sustainable manufacturing hub leveraging the Kingdom’s solar, wind and green hydrogen clean energy.”

Amit Midha, a former Dell chief and Godrej executive, has been appointed as the global chief executive officer of Saudi Arabia’s Public Investment Fund company, Alat.

RBI instructs Mastercard, Visa to stop card-based commercial transactions: Report

The flow of money towards non-KYC-ed merchants, who are not authorised to accept card payments as merchants, might have led the regulator to take the step. However, the exact reason is not known, according to the report. (Representative image by cardmapr.nl via Unsplash)

Transactions being done at other business outlets who might not be authorised to accept card payments have been temporarily halted.

Cash-strapped SpiceJet delays salaries of many employees

The delay in salaries, as well as in depositing the money due to pension funds and taxes deducted from the salaries, has come at a time when the airline owned by Ajay Singh is considering layoffs. (Image source: Moneycontrol)

Salaries have been paid to over 75 percent of the employees and that the pension fund dues will be deposited in the “near future”.

Global luxury industry surges to US$347 billion; India makes significant contributions: Reports

The growth was attributed to the strategic integration of technology, particularly GenAI, which facilitates personalised customer experiences and real-time support.(Representative Image: Hannah Morgan via Unsplash)

This year’s report highlights six Indian luxury companies that specialise in vertically integrated jewellery and are amongst the top 100 global luxury goods companies.