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Maharashtra Deputy CM Devendra Fadnavis has been allowed to have a bungalow in Delhi. This has led to speculations that Maharashtra Deputy CM is being appointed next President of the BJP
Starbucks' new CEO won't relocate, will fly 1,600 km on private jet daily to work Brian Niccol is expected to work from Starbucks' Seattle office at least three days a week, in line with the company's hybrid work policy, which has been in effect since 2023. Starbucks said that Brian Niccol will officially assume his new position on September 9. • Brian Niccol to commute 1,600 km daily, not relocate • Corporate jet to be used for daily travel to Starbucks HQ • Niccol to earn $1.6M base salary plus bonuses at Starbucks Starbucks' new CEO Brian Niccol will be making an exceptional daily commute to his new office. Niccol, who lives in California, will travel 1,600 kilometres every day to Starbucks' headquarters in Seattle. According to his employment agreement, Niccol will use a corporate jet for this daily journey. Despite the distance, he is expected to work from Starbucks' Seattle office at least three days a week, in line with the company's hybrid work policy, which has been in effect since 2023. Niccol, aged 50, will receive an annual base salary of $1.6 million. Additionally, he is eligible for a cash bonus ranging from $3.6 million to $7.2 million, depending on his performance. He will also have the opportunity to earn up to $23 million in annual equity awards. This commuting arrangement is not new for Niccol. When he was CEO of Chipotle in 2018, he arranged a similar deal. Chipotle, which was headquartered in Colorado, moved its headquarters to California just three months after Niccol took on the role. A Starbucks spokesperson said, “Brian’s primary office and a majority of his time will be spent in our Seattle Support Center or out visiting partners and customers in our stores, roasteries, roasting facilities and offices around the world. His schedule will exceed the hybrid work guidelines and workplace expectations we have for all partners.” Such flexible work terms are often negotiated by high-ranking executives who have significant negotiating power. For instance, Hillary Super, the CEO of Rihanna's lingerie brand Fenty x Savage, was granted a similar arrangement, allowing her to work from New York City instead of Victoria's Secret’s headquarters near Columbus, Ohio. However, not all CEOs have such leeway. Amazon's Andy Jassy and JPMorgan Chase's Jamie Dimon are actively advocating for a return to in-office work. The reasons behind Niccol’s unique arrangement are linked to Starbucks' recent performance.Sales in the company's largest markets, the US and China, have declined this year under the leadership of current CEO Laxman Narasimhan. Niccol’s appointment comes with high expectations, given his impressive track record of revitalising companies. Under his leadership at Chipotle, the company's stock reportedly increased by 773%.
The Narendra Modi-led government is witnessing major reshuffle at the top levels of secretaries and Directors General, resulting in a completely refreshed bureaucracy. Starting next month, the new officers will take up top posts, acting as the brain of the government. But for that, the government will have to fill various posts of Secretaries and DGs. After the appointment of a new Cabinet Secretary, the post of Finance Secretary will become vacant and will require a new officer to oversee the Finance Ministry. Current Finance Secretary TV Somanathan will become the Cabinet Secretary next month. The Cabinet Secretary is the senior-most officer of the government and works closely with the Prime Minister. Similarly, the Department of Personnel and Training (DoPT), which directly reports to the PMO, has also been operating without a Secretary. The current Union Home Secretary, Ajay Bhalla, holds the additional charge of DoPT. In addition to these changes, with the appointment of a new Home Secretary, the government will need to appoint a new Culture Secretary, as Govind Mohan, the current Culture Secretary, will be moving to the position of Home Secretary. Additionally, Health Secretary Apurva Chandra will retire next month, necessitating the appointment of a replacement. Besides these three Secretary-level transfers, the government will have to appoint various Directors General of the forces. Currently, forces like CISF and BSF are operating without permanent DGs, with the additional charge held by DG CRPF Anish Dayal of CISF and DG SSB Daljit Chowdhary of BSF. Following the recent order curtailing DG NSG Nalin Prabhat's tenure and shifting him to the AGMUT cadre, the government will need to find a new DG for NSG too. The order released on Wednesday stated: "Curtailment of tenure of Nalin Prabhat, IPS (AP:92) as Director General, National Security Guard (NSG). Inter-cadre deputation of Nalin Prabhat, IPS (AP:92) from Andhra Pradesh to AGMUT Cadre, initially for a period of three years from the date of joining the AGMUT cadre or until further orders, whichever is earlier, in relaxation of inter-cadre deputation guidelines." Prabhat is expected to become the new DGP of J&K, as the current DGP J&K is retiring next month. Interestingly, Director IB Tapan Deka (1988) is from a senior batch compared to the incoming Home Secretary Govind Mohan (1989).
Russia’s payment woes with India may finally be coming to an end. Thanks to allowances made by the RBI, Russian entities now have a bouquet of investment options -- not just government securities and bonds but equity and loans — to channelise their accumulating rupee balance. “Russia is no longer struggling to repatriate the rupee balance which is continuously accumulating in its special vostro accounts in Indian banks due to increased exports to India. The RBI, through various amendments in FEMA regulations and procedures, has made it possible for Russian entities to invest in a whole bouquet of avenues, which the country has started to make full use of now,” a top level source told businessline.
Russia’s payment woes with India may finally be coming to an end. Thanks to allowances made by the RBI, Russian entities now have a bouquet of investment options -- not just government securities and bonds but equity and loans — to channelise their accumulating rupee balance.
Cabinet approves 7.5m new gas connections under Ujjwala scheme.
India inflation to stay above 6% target until October at least: economists
Credit Saison India raises maiden NCD of Rs 200 crore
DGCA temporarily suspends Boeing simulator training facility of Air India for certain lapses
FirstCry founder Maheshwari probed for alleged $50 million tax evasion
Monsoon break threatens kharif crop yields; may delay rabi sowing
Centre plans to announce PM e-Bus Sewa guidelines within a month
Maruti Suzuki plans to double production capacity to 4 mn over 8 years
Hero Motocorp launches Karizma XMR
Banks to set up portal with real-time information to handle digital frauds
Sunil Mittal's Airtel plans Uganda's biggest IPO to raise $216 million
Centre cuts LPG cylinders price by Rs 200 for PMUY beneficiaries
Procter & Gamble India appoints Mukta Maheshwari as CMO
Engineers India teams up with Australia’s Sunrise CSP group for energy projects
NCLAT grants partial relief to Jet bidder JKC on terms of payment
Mansi Madan Tripathy to take over as country chair of Shell India
Reliance set target to establish 100 compressed biogas plants in next 5 years
Reliance to set up a battery GIGA factory in Jamnagar by 2026
Retail value of Reliance Retail doubled in less than 3 years: Isha Ambani
RIL AGM: Jio AirFiber to launch on Ganesh Chaturthi, says Mukesh Ambani
ARPU of Indian telcos to rise 8-10% to Rs 190 this year, says CRISIL
Suzlon bags 31.5MW wind energy project from Integrum Energy Infrastructure
Defence Acquisition Council approves proposals worth ?7,800 crore
India, USA looking at ending poultry dispute at WTO
EMS plans to float IPO in Sep to raise up to Rs 320 crore
New Boeing 737 MAX supplier defect to delay aircraft deliveries
RBI raises small value payment transaction limit in offline mode to Rs 500
Uber appoints Arnab Kumar as director of biz development for India, SA
Private bank's CD issuances to stay strong amid liquidity tightening
Tata Power, Zoomcar join hands to push electric vehicle adoption in India
India over the moon as ISRO goes the distance
Jio Financial at lower circuit for third day
India fully backs BRICS expansion: Modi
Baring PE to sell 27% stake in Coforge for ?7.4K cr
Processing, issuing of tax refunds may be reduced to 10 days
QIA to invest $1 bn in Reliance Retail Venture
Mumbai will top residential price rise in 2024: Study
Aeroflex Industries IPO subscribed 6.72 times on day 1
Domestic crude oil production up 2.1% to 2.5 MMT in July, imports down 6.3% YoY
Pay DTH subscriber base was down by 1.37 million in March quarter
Advance preparation by exporters, govt must comply with EU's carbon tax: GTRI
S&P downgrades multiple US banks on growing liquidity worries
Indian EV maker One Electric starts production in Kenya, eyes further expansion in Africa
Axis Bank partners Cleartrip to give travel benefits to credit card holders
US-based firm OnSolve launches new technology centre in Bengaluru
Vodafone Idea plans to clear about Rs 2,400 crore dues by September
BSE postpones removal of Jio Financial Services from indices to August 29
Inflationary pressures may be elevated in coming months: Finance ministry
Reliance Jio, Vodafone Idea, Bharti Airtel to increase workforce by 25% in FY24
Rainfall activity to intensify in eastern India from Wednesday: IMD
Indian Railways: Cabinet approves 7 multi-tracking projects.
Air India Express to rebrand its aircraft to give it premium avatar
Indian Railways planning PLI for train components to curb imports
Hyundai signs deal to acquire General Motors' Talegaon manufacturing plant
Aerospace major Boeing starts production of Indian Army's Apache choppers
AI to help chartered accountants deliver high quality audits: ICAI prez
PM-eBus Sewa: Cabinet approves Rs 57,613 cr for 10k e-buses across cities
ITC hotel spinoff at 10:1 ratio, IPO in 15 months
NCDEX ties up with Skymet to bring derivative trading on weather index
US retail sales increase more than expected in July
Russia's central bank makes huge interest rate hike to try to prop up falling ruble
Govt to launch Vishwakarma Yojana for skilled traditional craftsmen
Apple AirPods to be made in India at Foxconn factory in Hyderabad
Mahindra launches 7 lightweight 4WD OJA tractors, beginning at Rs 5.64 lakh
HCLTech announces new digital transformation deal from Cricket Australia
Infosys signs 5-year deal with Liberty Global estimated at $1.64 bn
Domestic PV wholesales at all-time high in July: Siam
Disney+ Hotstar sees user exodus as IPL rights end
RBI arm to develop digital platform to enable frictionless credit delivery
India’s largest TV network set to go live after NCLT nod
Maharaja steps back as Air India takes flight with The Vista logo
India reposes confidence in govt, not Opposition: Modi
Cameras, printers could face import curbs now
RBI hold rates, ups FY24 inflation forecast to 5.4%
SC rejects Go First plea against Delhi HC nod to lessors to access planes
Tata Chemicals Q1 Results: Net profits plunge 11.8% at ?523 crore YoY
Delhi government approves hike in circle rates of agricultural land
Whirlpool India Q1 Results: Firm posts fall in Q1 profit on soft demand
Sebi to review, standardise company disclosures
Odisha govt ropes in Bandhan Bank for tourism department's payment solutions
Jet Airways' CoC asks Jalan Kalrock Consortium to pay Rs 350 crore
Russia's oil to India in June the cheapest since Ukraine war began
Marsh India expects growth of 20-25% in next year, says Sanjay Kedia
A veg thali cost 34% more in July than June, thanks to tomatoes: CRISIL
Max Healthcare Q1FY24 results: PAT up 27% to Rs 291 cr, revenue jumps 17%
Meesho becomes first horizontal e-commerce company to attain profitability
No rise in rail fares in name of stations redevelopment says Railway minister
Reliance Industries to hold AGM on August 28, 2023
Railways to spend ?24,470 cr to jazz up 508 stations
SoftBank sues social app IRL for fraud, seeks $150 million in damages
Jio to get $2.2 bln funding from EKN for 5G
Maruti aims to double production capacity
JK Tyre & Industries Q1 PAT jumps four-fold to Rs 153.87 cr, revenue up 2%
Reliance seeks shareholder nod to appoint Ambani as head for another 5 yrs
Govt defers implementation of laptop, PCs import restrictions to Nov 1
Bank of Baroda Q1FY24 proft rises 87.7% on growth in net interest income
Tata Steel to bid for iron ore mines ahead of expiry of leases in 2030
Cabinet approves Rs 1.39 trn for connecting 640,000 villages with broadband
Govt may mandate 20% recycled materials in auto manufacturing from 2026-27
GE Power gets LoI for contact worth of Rs 444 crore
Amazon, Google wooed by India for $750 million cricket rights: Reports
Foxconn to invest $600 mn in Karnataka for components, chipmaking machinery
IndiGo reports highest-ever profit of Rs 3,091 cr in Q1FY24, revenue up 30%
Govt likely to get majority stake in HPCL, will infuse capital in fuel retailors
India-Papua New Guinea sign MoU for India Stack collaboration
Co-op sugar mills may soon start wiping off Rs 10,000 cr tax liability
Reliance Naval debt resolution stuck as bidder seeks more time to pay
Govt to expand Semiconductor DLI scheme to larger, foreign firms: MoS IT
Wockhardt says NBFC Guardian Finance wrongfully invoked 2 mn shares
Tesla executives hold market entry talks with India investment agency
Reliance General Insurance gets Rs 200 cr capital infusion from parent
Delhi international airport plans to raise Rs 750 crore to refinance debt
RJio ‘undecided on 5G smart phone’; puts deal with Google in limbo
Govt to open mining of lithium, rare minerals to private sector
PM: India will be in top 3 economies in my 3rd term
M&M looking to own 10% in RBL Bank
Blackrock to re-enter India via JV vith Jio Finance
Adani, Vi approach DoT for 5G rollout deadline extension
Ethanol distilleries rework output plans as FCI halts rice supply
Byju’s ‘regularly disregarded advice on key matters: Prosus
Hotel stocks have more room for upside; buy the dips: Analysts
Adani-run airports handled 103% more fliers in FY23
Byju’s, lenders bury the hatchet on $1.2 bn term loan B recast
ITC hotel biz set to check out after demerger nod
Motherson to buy Germany’s Dr Schneider for ?1,074 crore
Top Tesla execs likely to meet Goyal soon
Companies may be allowed to delist via fixed price: SEBI Chief
Air India eyes 20% share in air cargo biz in 2-3 years
Bain agrees to buy 90% stake in Adani Capital
PM to inaugurate Semicon India 2023 on July 28
Banks get 8 mths to effect TCS on foreign credit card spend
Twitter to change logo to X from bird: Musk
Pratt & Whitney offers new engine lease agreement to Go First
Russia’s oil production cuts offer opportunity to Indian refiners
Fate of Tata's UK stell business hinges on Govt support
Byzu's, lenders agree to alter terms of $1.2 bn loan
Sensex, Nifty scale new lifetime highs on FII buying, better Q1 show Ø HDFC Bank Q1 profit jumps 30% on strong revenue, stable asset quality
US to work with India on platform to speed up energy transition
Temasek looking to invest $10 bn in India in 3 years
US talks higher pvt investment to spur India’s energy shift
Need to grow at 7.6% to be a developed nation by ’47
Improved US performance to pep up Indian pharma Q1 show
India Inc likely to Ad 20-25% to H2 spends this year
Bulls extend record run, ignore asia, Europe bears
?1.08 lakh crore AUM of debt MFs under stress
Big tender for train crash prevention system soon
Non-tax sops better for wooing investors
Space start-ups over the moon with govt’s FDI push, Isro’s tech transfer
Centre considers picking up equity in chip design cos
Debt relief framework: China a stumbling block
Bain capital to buy Adani capital for ?1.5k cr
Air India write off ?7k cr in FY23, turns Ebitda +ve
Govt may seek cut in ghee, butter GST
Bets on rate cut off as inflation flares
Cash holdings rise at fund houses as market climbs
Defence deals to top OM's France agenda
Defence stocks’ rally not in sync with earnings growth
Xiaomi in talks with Dixon, others for India-made phones
Half of world sinking into debt crisis, warns UN chief
Foxcon may partern TSMC and TMH to set up fab units in India
Dalal street indices pare gains after scaling fresh highs
Singapore-based Quadria Capital to invest up to $155 million in India's Maxivision Eye Hospital
India in talks with Netherlands for pharma supplies
Patanjali Foods' promoters plan to offload up to 9% stake through OFS
Placed under enhanced surveillance, SpiceJet to get Rs 500 cr from promoter
India proposes ease of business norms at G20
Elon Musk announces new company xAI, set to build ChatGPT alternative
India's outward FDI shrinks by half YoY in June 2023, shows RBI data
TCS' Q1 profit rises 17% to Rs 11,074 cr, investors to get Rs 9/share dividend
Centre begins inspection into Byju’s financials
Over 20 mn IT returns filed so far for assessment year 2023-24
Hindujas looks to raise upto $1 bn to finance Relinace cap acquisition
Foxcon looking to set 4-5 fab lines in India
Online gaming, Casinos set to attract 28% GST
India overtakes China as most attractive emerging market for investing
India may be world's 2nd-largest economy by 2075, says Goldman Sachs
Foxconn walks out of Vedanta joint venture for chip plant in India
Adani-Hindenburg case: Sebi defends rule change on offshore investors
US private investment firm Bain Capital in talks to acquire Vadilal
Wadia group looking for partners to bid for Go First
DefTech high on agenda as PM Narendra Modi embarks on France trip
Piyush Goyal to visit UK for FTA talks, review EFTA trade talks progress
India Inc may see over 22% profit jump in Q1; revenue growth may disappoint
Monsoon rains swing from 10 per cent deficit to surplus in eight days
NITI Aayog assessing impact of climate change, labour issues on exports
India’s office market shows resilience amid global headwinds, snaps 6-quarter declining trend