FIVE Financial News

Coca-Cola India has sounded out the promoters of at least four top Indian business houses — including the Bhartia family that owns the Jubilant Group running the Domino's pizza chain, and the Burmans of Dabur — to sell a significant minority stake in its wholly owned bottling subsidiary, Hindustan Coca-Cola Beverages (HCCB), executives aware of the developments said. The Parekh family of Pidilite Industries, makers of the iconic adhesive brand Fevicol, M-Seal and Dr Fixit, and the promoter family of Asian Paints have also been approached for a potential $800 million to $1 billion investment via their respective family offices. Some of those approached are also exploring if they would route the proposed investments through one of their group companies. Jubilant Foodworks, India's largest food services company, for example is already in the consumer business and has the exclusive franchise for Domino's Pizza and Dunkin' Donuts and Popeyes in India. The company also owns the Domino's franchise in five other markets across Asia and has acquired Coffy, a leading coffee retailer of Turkey.

smartphone at your doorstep, on-demand, in 10 minutes may not be far cry now. The likes of Swiggy Instamart, Zomato’s Blinkit, BigBasket’s BBNow and Zepto plan to expand their quick commerce services to electronic products and white goods categories by Diwali, delivering within 10-45 minutes, said industry executives. Brands are open to partnerships with these platforms, encouraged by the success of the model in fast-moving consumer goods (FMCG), they said. It’s a huge opportunity in the kitchen and small appliances segment, apart from handsets, television sets and microwave ovens, where ecommerce accounts for 35-45% of sales, according to the executives. BigBasket chief executive Hari Menon told ET that it will deliver most electronics products within 15 minutes, and large appliances such as refrigerators, air-conditioners and washing machines within 30-45 minutes. He said BigBasket will also sell smartphones through quick commerce, for which it is tying up with Tata electronics retail chain Croma.

The Canadian real estate market showed further signs of sluggishness in May, with the national benchmark home price slipping to $714,300, down 0.2 per cent from April to May 2024, and 2.4 per cent year over year. Despite this, the Canadian Real Estate Association (CREA) remains optimistic, expecting the recent rate cut by the Bank of Canada to inject new life into the market.

New Jersey’s attorney general has charged Democratic power broker George Norcross with racketeering and other crimes in connection with government issued tax credits

renewable energy capacity in the ongoing financial year, higher than last fiscal's addition of 18.4 GW, two senior government officials told ET. Renewable energy sources contributed 71% to the 26 GW of power generation capacity that India added in FY24, according to the Council on Energy, Environment and Water. Nodal agencies with auction responsibility are likely to bid out 50 GW of renewable energy capacity in the ongoing FY25, as is the decided trajectory for each of the five years starting FY24. In the last fiscal year, the agencies auctioned around 51 GW of such capacity, according to one of the officials.

World Trade Organization (WTO) on the concessions the bloc can offer to New Delhi to mitigate the adverse impact of duties it levies on some steel imports. The two sides conducted consultations on June 7 on the EU's recent announcement of its decision to extend the existing safeguard measures on some steel product imports beyond the current termination date of June 30 for another two years. «India and the European Union were not able to reach an agreement,» India told the WTO on Monday. The measures hurt imports from many countries including India. «India requested the European Union to put forth its proposals for maintaining substantially equivalent level of concessions and other obligations and adequate trade compensation to mitigate the adverse effects of the proposed measure,» India said. India, China and Russia, along with five others have criticised the EU's decision to extend the levy on certain steel products, arguing that the measure, imposed after the US slapped additional duties on certain categories of steel imports from the bloc, in 2018, was inconsistent with the global trade body's rules.

iPhone 15 is available for Rs. 67,999 across all five color options — Black, Blue, Green, Pink, and Yellow — for the 128GB base model. This is a significant reduction from its launch price of Rs.

Priyanka Gandhi is joining the poll race from Wayanad, after Rahul Gandhi opted to retain Raebareli, the Gandhi family bastion.After the announcement was made by Congress President Mallikarjun Kharge, Priyanka Gandhi said, “I am very happy to be able to represent Wayanad and I will not let them feel his (Rahul Gandhi's) absence.""I will work hard and I will try my best to make everyone happy and be a good representative. I have a very old relationship with Raebareli and Amethi and it cannot be broken.

euro on Monday, as the common currency recovered from the more than one-month lows hit last week driven by political turmoil in Europe. The euro was up 0.1% to $1.0718 on Monday, rebounding from the six-week low of $1.066775 touched last week following news of a snap parliamentary election in France.

defence firms. Some 36% of exports came from missile, rocket and air defence systems, followed by radar and electronic warfare, weapon stations and launchers at 11% each, with crewed aircraft and avionics at 9%, the Defence Ministry said.

Sealdah Kanchanjunga Express near New Jalpaiguri on Monday, resulting in the deaths of five people and injuring approximately 50 others. The anti-collision system 'Kavach' was not operational on this Guwahati-Delhi route at the time of the accident. Railway Board Chairperson Jaya Varma Sinha revealed that the 'Kavach' anti-collision system was not operational of Guwahati route. «It is currently functional on 1,500 km of railway tracks, with plans to extend it to another 3,000 km by the end of the year,» Sinha said. She attributed the collision to a possible human error by the loco pilot of the goods train, who succumbed to injuries. «It is not there right now,» said Sinha regarding the absence of the 'Kavach' system on the route. Asserting that safety remains the railways' top priority, Sinha mentioned ongoing efforts to ensure the security of train operations.

The deadly implosion of an experimental submersible en route to the deep-sea grave of the Titanic last June has not dulled the desire for ocean exploration

With less than three weeks to go until Britain’s election day, Prime Minister Rishi Sunak is running out of time to change the tune

Bharatiya Janata Party leader Pankaja Munde on Monday asked the Maharashtra government to seriously address the issues being raised by OBC protesters Laxman Hake and Navnath Waghmare, who have been on a hunger strike here for the past five days. The protesters, from various OBC outfits, have sought the scrapping of the government's draft notification of 'sage soyare' (blood relatives) in connection with giving Kunbi certificates to Marathas to allow the community members to avail quota benefits.

Oil edged higher after its biggest weekly advance since early April, extending a short-covering rally as traders weighed a raft of data from China.

The Population Bomb. But the relative number of older people will skyrocket, causing anxiety among some economists and political leaders who want more people to have more kids.

ICRA Limited , believes that the market shares of the top 5 cement companies should climb to 55% by March 2025.The market share of the top five cement companies—Ultratech Cement, Adani Group companies ( Ambuja Cement and ACC , Shree Cement, Dalmia Cement, and Nuvoco Vistas has increased significantly, from 45% in 2015 to 54% in December 2023.Also Read- FPI ease selling streak in June as outflows decline to ₹3,064 crore in Indian equities; When will inflows resume?ICRA expects this trend to continue, with both organic growth and inorganic expansion driving industry consolidation. In the last nine years, there have been 15 mergers and acquisitions, highlighted ICRA Research.

electric vehicles (EVs) made by Chinese companies now stare at a road bump in Europe as the European Union (EU) last week decided to hike tariffs on Made-in-China EVs. The EU decision follows a scare in the Western world about China flooding it with state-subsidised EVs. The Alliance for American Manufacturing has said that government subsidized Chinese EVs “could end up being an extinction-level event for the U.S.

Investors looking for sectoral themes can now bet on manufacturing funds as the new government’s focus on the manufacturing sector will ensure a supportive policy environment. The buzz around the manufacturing sector is driving asset management companies (AMCs) to launch new funds to capitalise on the growth potential of this vital sector.

Railway Minister Ashwini Vaishnaw on Monday departed for West Bengal to oversee the relief efforts following a collision between a goods train and the Kanchanjunga Express near New Jalpaiguri. The accident, which occurred close to Rangapani station, resulted in at least five fatalities and left approximately 30 individuals injured. Following this, Prime Minister Narendra Modi offered his condolences. «The railway accident in West Bengal is saddening. Condolences to those who lost their loved ones. I pray that the injured recover at the earliest. Spoke to officials and took stock of the situation. Rescue operations are underway to assist the affected,» PM Modi said on social media.

Preliminary results show no new hotspots have been found along the remaining 300 metres of a major feeder main that broke in Calgary almost two weeks ago, emergency officials said Sunday.