ü FMCG Firms targeting Working professionals in small Towns:
o Consumer durables makers are rolling out newer, tweaked products targeting professionals working in small towns, making a shift in strategy that earlier depended heavily on good monsoon rains and consequently strong rural demand.
ü Space Matrix Acquires Singapore- Based Blink Design:
o Architecture and Interior design firm Space Matrix has acquired Singapore based design venture blink design group in a cash and equity deal.
o Space Matrix is aiming to tap the hospitality industry with this Buy Out.
ü RIM Faces Compensation claims as Blackberry Services Stay on Blink:
o Blackberry manufacturer RIM faced the prospect of a compensation bill from network providers on 13th Oct as the Canadian Firm struggled for a fourth day with service glitches.
ü Volvo to Invest Rs.400 cr to Expand capacity, set up New Facility:
o European Bus maker, Volvo has decided to Invest Rs 400 cr in the next 5 yrs to Expand Capacity and set up a new Facility.
o From next Year, a part of the Amount will be used to push production of the Karnataka plant from 1,200 units per year to 2,500 units.
ü Google most popular Employer Among Business Students:
o Google is still the most popular employer in the world among business students, according to Universum’s latest global ranking.
o Drawn to the company’s culture of innovation, laid back vibe, smart employees, and out of the ordinary perks , undergraduates have seen Google as the most attractive employer since 2009.
ü India’s High Net worth Individuals’ wealth Grows 22% in 2009-10:
o Net worth grew to $582 bn compared to $477 bn in 2008-09, a 2011 Asia pacific wealth report by Merrill Lynch Global Wealth Management and Capgemini said.
ü HPCL Grounds Kingfisher Again:
o State Run Oil marketing company Hindustan Petroleum Corporation has once again shut fuel supply to Vijay Mallya promoted Kingfisher Airlines, grounding operations of the country’s 2nd largest carrier from 5pm on Thursday.
ü IBM Trims contract staff:
o One of the largest private sector employees in India, IT services firm IBM is trimming its contract workforce.
o Atleast 600-1000 contract employees have been asked to leave the company since August.
o Sources in the Recruitment Industry and the company attribute this to both economic uncertainty and cyclical reasons.
o These Contract employees work for IBM, but are on the payrolls of either a Recruitment firm or another IT vendor.
ü Bharti Airtel Chooses Vendors for Broadband Services:
o May split its BWA circles among different Vendors to ooptimise costs; deal size may be in the range of $75 mn to $ 100 mn.
ü AOL CEO Tim Armstrong has been meeting with the top shareholders in the past couple of weeks to push the idea of a sale to Yahoo that could wrap up to $1.5 bn of cost savings.
Have a nice day !!
Regards,
Karan
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