Here are the Business News Headlines as on 26th May 2017:
- DLF group is planning a major entry into the co-work space business. It aims to lease 100,000 sq ft of prime commercial space, initially in the Delhi region and Chennai, to start-ups in the co-working sector over the next couple of years. DLF is in talks with New York-based WeWork and other US and Europe-based co-work service entities.
- The government will now allow companies incorporated not older than 7 years to be eligible for benefits under the Startup India Action Plan in place of 5 allowed earlier. However, turnover of the entity has to be less than Rs 25 crore.
- The Benetton Group, selling apparel under brand name of United Colors of Benetton, has sought approval to enter India through FDI in single-brand retail scheme for retail trading and sale through e-commerce.
- Private equity firm ChrysCapital Advisors LLP is in advanced talks to buy Credo Brands Marketing Pvt. Ltd, which owns denim wear brand Mufti. The deal is likely to be signed for Rs460-500 crore.
- Top 10 Indian companies to have made to Forbes’ Global 2000 are Reliance, SBI, ONGC, HDFC Bank, Indian Oil, Tata Motors, ICICI Bank, HDFC, TCS and NTPC.
- Kalyan Krishnamurthy, CEO of Flipkart, will now also be the Head of HR of Flipkart. He earlier had Finance as a key portfolio with Company CFO reporting to him.
- To consolidate its position in the “job market” segment, Quikr is set to buy Babajob, which claims to have about 7 million job seekers and 5 lac employers registered with them.
- Grupo Bimbo, Mexico’s largest food and bakery company is buying a majority stake of 65% in Harvest Gold, India’s bread and bakery products maker at a valuation of Rs.340 crores.