Clara's Feed
Jun 5, 2015

Nestle pulls Maggi noodles off Indian shelves as food scare spreads

MUMBAI, June 5 (Reuters) – Nestle SA will pull its
Maggi instant noodles from stores across in India, withdrawing
one of the country’s most popular snacks after weeks of damaging
headlines triggered by regulators’ reports that some packs
contained excess lead.

In what has become India’s most significant packaged foods
scare for nearly a decade, Nestle reiterated on Friday that its
noodles were safe. But after coming under fire for what domestic
media said was a failure to react swiftly and decisively, the
group said it would pull the product regardless, more than two
weeks after food inspectors first reported their findings.

Jun 5, 2015

Nestle withdraws Maggi noodles in India after food scare

MUMBAI, June 5 (Reuters) – Food group Nestle has
withdrawn Maggi instant noodles from sale in India citing “an
environment of confusion for consumers”, after a food scare
triggered by a domestic regulator’s report that some packs of
the popular snack contained excess lead.

Nestle reiterated the noodles were safe. But after coming
under fire in local media for doing too little, too late in
response, the group said early on Friday that it would recall
the product regardless, weeks after food inspectors first
reported their findings.

May 14, 2015

India learns to “fail fast” as tech start-up culture takes root

BENGALURU, India, May 14 (Reuters) – After ping pong tables,
motivational posters and casual dress codes, India’s tech
start-ups are following Silicon Valley’s lead and embracing the
“fail fast” culture credited with fuelling creativity and
success in the United States.

Taking failure as a norm is a major cultural shift in India,
where high-achieving children are typically expected to take
steady jobs at recognised firms. A failed venture hurts family
status and even marriage prospects.

May 7, 2015

India’s e-commerce giant Flipkart in no rush to go public

BENGALURU, India (Reuters) – India’s biggest e-commerce firm Flipkart will remain private for the next three years at least, its chief financial officer said, nixing speculation that it would launch this year an IPO that some bankers had expected to raise a record $5 billion.

Flipkart, an online marketplace that analysts estimate to be worth $11 billion, has benefited from the foreign funds that have sloshed into India’s rapidly growing online retail sector.

May 7, 2015

Interview – E-commerce giant Flipkart in no rush to go public

BENGALURU (Reuters) – India’s biggest e-commerce firm Flipkart will remain private for the next three years at least, its chief financial officer said, nixing speculation that it would launch this year an IPO that some bankers had expected to raise a record $5 billion.

Flipkart, an online marketplace that analysts estimate to be worth $11 billion, has benefited from the foreign funds that have sloshed into India’s rapidly growing online retail sector.

Mar 31, 2015

Stock options, new blood as India’s state banks ready for change

MUMBAI, April 1, (Reuters) – State Bank of India,
the country’s largest lender, may offer employee share options,
recruit specialists and promote faster – radical changes that
promise to shake up a bloated, debt-heavy sector.

India’s state banks are under pressure to improve
profitability and slash bad loans, creating a more agile sector
to help fuel economic growth. For the government and the banks,
that has put the focus firmly on one issue: people.

Mar 24, 2015

SBI sees lending growth accelerating

MUMBAI (Reuters) – State Bank of India (SBI), the country’s largest lender, expects credit growth to accelerate in the year beginning in April to as much as 15 percent, helped by firms seeking funds to bid for coal concessions and mobile airwaves.

Arundhati Bhattacharya, SBI chairman, told Reuters in an interview that the pick up in lending compares to a “very very low” loan growth of below 10 percent in the year just ending. The bank, she said, had come through a period of consolidation and was comfortable with the current pace.

Mar 24, 2015

State Bank of India sees lending growth accelerating

MUMBAI, March 24 (Reuters) – State Bank of India,
the country’s largest lender, expects credit growth to
accelerate in the year beginning in April to as much as 15
percent, helped by firms seeking funds to bid for coal
concessions and mobile airwaves.

Arundhati Bhattacharya, SBI chairman, told Reuters in an
interview that the pick up in lending compares to a “very very
low” loan growth of below 10 percent in the year just ending.
The bank, she said, had come through a period of consolidation
and was comfortable with the current pace.

Mar 20, 2015

SEBI warns of penalties as board quota deadline nears

MUMBAI (Reuters) – Corporate India’s “shameful” failure to appoint enough women directors ahead of a deadline set by regulators for April 1 will result in “very serious” consequences for firms, the head of the Securities and Exchange Board of India (SEBI) said on Friday.

SEBI last year imposed a quota of one female director on the board of every listed firm. It extended the deadline once last year, but despite last-minute appointments, hundreds of firms, including several large state-owned companies, still fall short of the requirement.

Mar 20, 2015

India regulator warns of penalties as board quota deadline nears

MUMBAI, March 20 (Reuters) – Corporate India’s “shameful”
failure to appoint enough women directors ahead of a deadline
set by regulators for April 1 will result in “very serious”
consequences for firms, the head of the country’s market
regulator said on Friday.

The Securities and Exchange Board of India last year imposed
a quota of one female director on the board of every listed
firm. It extended the deadline once last year, but despite
last-minute appointments, hundreds of firms, including several
large state-owned companies, still fall short of the
requirement.