IKEA global CEO Jesper Brodin reveals India expansion plan; GQG Partners emerges as the largest investor in Adani stocks; MWC 2024 and more
#CNBCTV18Exclusive ??
When will Delhi get its IKEA store? Global CEO Jesper Brodin reveals India expansion plan
Swedish multinational conglomerate IKEA’s India chapter began about five and a half years ago with its first store in Hyderabad. It was for the firm to prove itself that there was a market and there was an interest, Global CEO Jesper Brodin said.
In an exclusive interaction with CNBC-TV18’s Shereen Bhan, he said “The experience has been phenomenal for us, the interest is massive. After that we opened in Mumbai, Bengaluru and now Delhi is on the map. The long term plan for us is to establish IKEA in all big cities and then expand in an omni-channel context in India so we can reach as many people as possible.”
IKEA's global CEO wants his employees to make mistakes
Yes, you read right. Jesper Brodin, the global CEO of Ikea, encourages his employees to make mistakes. And so, Brodin has invented a “Go Bananas Card" which is like a license to make mistakes but with a co-signed apology for it.
“It symbolises to say, it's not only allowed, I expect you to make mistakes. And when you do, we can apologise or laugh about it and move on,” the global CEO of Ikea told CNBC-TV18 in an exclusive chat while cautioning they can’t make mistakes that would be harmful to the business or people.
One would wonder if such a culture would be of any help but Brodin has proved that it does. The licenses which have been given out to almost a couple of thousand employees of the Swedish multinational conglomerate, he said, have translated many ideas into business decisions.
#CNBCTV18Market
Vodafone Idea Board approves equity fundraise of up to ?20,000 crore
The Board of Directors of Vodafone Idea Ltd (VIL) approved a fund raise of up to ?20,000 crore via a combination of equity or equity-linked instruments, the telecom firm informed exchanges on Tuesday, February 27.
VIL also added that the company remains actively engaged with its lenders for tying up the debt funding, which will follow the equity fundraise. It aims to raise around ?45,000 crore through a combination of equity and debt. VIL's bank debt currently stands at less than ?4,500 crore.
GQG Partners emerges as the largest investor in Adani stocks, beats LIC in holdings
With about $9 billion worth of shares, the GQG Partners has become the largest investor in Adani group companies, after the fund managed by veteran investor, Rajiv Jain gradually upped its exposure in most group stocks, post its maiden acquisition about a year ago.
While the GQG Partners has increased its stake in most Adani group companies over the last six months, LIC, the largest institutional investor in the country, has reduced its exposure in three group companies — Adani Enterprises, Adani Energy Solutions and Adani Ports and Special Economic Zone, according to latest shareholding data compiled from exchanges.
Supreme Court reproaches central govt for its inaction against Patanjali Ayurved's 'misleading ads'
The Supreme Court in its order on Tuesday, February 27, admonished the central government for not restraining Patanjali Ayurved from publishing false and misleading advertisements.
The bench of Justice Ahsanuddin Amanullah and Justice Hima Kohli, while hearing the petition filed by the Indian Medical Association (IMA), reprimanded the central government for not taking any action against Patanjali’s misleading advertisements since an order was passed in the matter in November 2023.
Patanjali Ayurved which is co-owned by yoga guru Ramdev, in its advertising and branding of medicinal products claimed to cure diseases or ailments. The court has also ordered Patanjali to stop making any statements against any medicine system in its ads in print or other forms of media.
#TechTalk
OpenAI says New York Times 'hacked' ChatGPT to build copyright lawsuit
OpenAI has asked a federal judge to dismiss parts of the New York Times' copyright lawsuit against it, arguing that the newspaper "hacked" its chatbot ChatGPT and other artificial-intelligence systems to generate misleading evidence for the case.
OpenAI said in a filing in Manhattan federal court on Monday that the Times caused the technology to reproduce its material through "deceptive prompts that blatantly violate OpenAI's terms of use."
"The allegations in the Times's complaint do not meet its famously rigorous journalistic standards," OpenAI said. "The truth, which will come out in the course of this case, is that the Times paid someone to hack OpenAI's products."
领英推荐
Meta launches new awareness campaign 'Know What's Real' to tackle misinformation
Meta, the parent company of popular social media platforms WhatsApp and Instagram, on Tuesday, unveiled a safety initiative titled 'Know What's Real' in a bid to tackle the issue of misinformation online. According to a recent release, the campaign aims to raise awareness about the importance of discerning truth from falsehood in the digital age.
The initiative, spanning eight weeks, is geared towards educating users on identifying and addressing misinformation prevalent on WhatsApp and Instagram. By promoting digital best practices and showcasing available safety tools, Meta hopes to empower its user base in navigating the complex landscape of online information.
#MobileWorldCongress2024
Motorola is at it again, this time with a phone that bends
Motorola continues to lead the charge in innovative display technology with the unveiling of its adaptive display concept at the Mobile World Congress (MWC) 2024 in Barcelona.
First introduced to the world in October 2023 at Lenovo Tech World '23, this concept revolves around an FHD+ pOLED display that can be bent and shaped into various forms to cater to users' diverse needs.
This device builds upon Motorola's history of display and mechanical innovations, drawing from the successes of its foldable and rollable devices.
Gaganyaan mission: India names four pilots for its first manned space expedition
India on Tuesday, February 27, announced the names of four Indian pilots for the Gaganyaan mission to space. They are Group Captain Prasanth Balakrishnan Nair, Group Captain Ajit Krishnan, Group Captain Angad Pratap and Wing Commander Subhanshu Shukla. Prime Minister Narendra Modi announced their names during his visit to Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram.
PM Modi congratulated these four pilots who wanted to be astronauts and said they are the pride of India. "I am happy that today I got the opportunity to meet these astronauts and present them in front of the country. I want to congratulate them on behalf of the entire country. You are the pride of today's India."
#PersonalFinance
Income tax dept launches online feature to resolve ITR mismatches: Here's how to use
The Income Tax Department has introduced an on-screen functionality on the compliance portal of the e-filing website. This has been done to address mismatches identified between third-party information on interest and dividend income and the filed Income Tax Return (ITR), the department said.
In many cases, taxpayers have not even filed their ITR, the department said.
How to access this on-screen functionality?
#StartUpNews
Byju’s investors want NCLT to stay rights issue, edtech says they can choose to not subscribe
In a Byju’s versus investors showdown at the National Company Law Tribunal (NCLT) hearing on Tuesday, February 27, investors argued that the process adopted by the edtech firm for its rights issue appears to be in breach of laws and they have thus sought a stay on it.
“The rights issue cannot be allowed to proceed, it cannot be done without increasing authorised capital…We are shareholders with more than 25% stake and we are in the dark. There are investigations ongoing and we are given zero information,” the investors claimed.
They added that they had requisitioned for an extraordinary general meeting (EGM) but Byju’s?approached a civil court against it. “How are we to be protected against all this? We need immediate relief in this matter.”
Beyond #Newsroom ??
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We'll see you tomorrow with another engaging '11:11'
nimble group ltd - Senior Quality Engineer
1 年As an engineer, I do like the India "Jugaad", it's a nice smart method, I learn a lot from it. "Dhandho" may just for some finance guy :-) It's not first time world wide say "Leave China". Seems westerner like India more than China. But I think Chinese people has culture like "Plum Blossom", The colorful flowers blossom boldly again the cold in the middle of winter. "Firm and tenacity" as the words of song by Teresa Deng :-) A Chinese poem in Song dynasty also describe "Plum Blossom" "Few twigs plum at the corner of wall, Blossoming alone in the deep cold. Even from afar they known not as snow, Becaue delicate fragrance comes wafting."
Managing Director at KGS Design India Pvt. Ltd. specializing in Nylon Carpet Tiles, Fiber Bonded Carpet Tiles, and Aluminium Entrance Matting.
1 年Paragon Carpet Tiles