INDIA – TATA MOTOR’S SHARE PRICE DROPS AFTER IT REPORTS ITS WORST QUARTERLY EARNINGS IN A DECADE
The drop in revenue is a result of excise duty changes in China and uncertainty in Europe surrounding diesel vehicles. Despite the downturn, Tata Group, the parent company of Tata Motors remains positive about meeting margins guaranteed to shareholders earlier this year.
UNITED STATES – HILTON ANNOUNCES A NEW CONCEPT FOR HOTEL ROOMS
Last month, Hilton unveiled the connected room, a concept whereby guests can personalise their rooms by controlling TV programming, temperature and lighting with their cellphones. The initiative is meant to add a level of comfort as well as reduce the hotel chain’s environmental footprint.
SOUTH AFRICA – PICK N PAY PLANS TO INVEST BILLIONS OF RANDS WITH THE GOAL OF CREATING 15,000 NEW JOBS
The Cape Town based supermarket chain with locations all over Sub-Saharan Africa is refurbishing stores and improving its supply chain as the economy takes a hopeful turn. Gareth Ackerman, Chairman of Pick N Pay, says the creation of new jobs is currently South Africa’s highest priority.
CHINA – VICTOR LI SUCCEEDS HIS FATHER LI KA SHING AT HONG KONG CONGLOMERATE CK HUTCHISON
The Stanford educated heir to one of Hong Kong’s most successful businesses has finally taken the reins from his superman father. Victor is already making moves, the biggest of which is an offer to buy Australian energy firm APA for 10 billion USD.
FRANCE – A YEAR AFTER LAUNCHING THEIR ONLINE WINE PAIRING CHATBOT, AUCHAN ANNOUNCES A NEW VOICE ASSISTANT
Available on Google Home and Google Assistant, the French retail giant hopes to revolutionise the way people buy wine. Customers describe their meal plans and the service will recommend the perfect bottle to pair with each dish.
GERMANY – VOLKSWAGEN PROFITS CONTINUE TO GROW DESPITE THE UNCERTAINTY OF GLOBAL PROTECTIONISM
The CEO of Volkswagen, Herbert Diess is wary of industry disruption caused by trade wars, and newly implemented emission standards even though the German company’s profits are up by 6.8 per cent. He says Volkswagen can’t rest on its successes.
MEXICO – GRUPO ALFA SUBSIDIARY ALPEC ANNOUNCES THE ACQUISITION OF PETROQUIMICA SUAPE AND CITEPE
Through Alpec, The Mexican holding company Grupo Alfa has an increased stake in the production of PTA and PET polyester fibres with its latest acquisition. This move also sees the group’s continued expansion into South America, with this latest foray into Brazil.
KENYA – RAMCO GROUP’S OUTLOOK STABLE RATING IS AFFIRMED BY GCR
After being reassessed by Global Credit Ratings, the East African conglomerate with a focus on building material supply has once again been awarded an outlook stable rating. The rating further entrenches Ramco’s position and reaffirms its place as an industry leader on the continent.