Investors from UAE, Saudi Arabia, and Hong Kong have arrived in Kashmir to explore business opportunities and invest in the Valley. Their visit changes the perception of Kashmir and presents it as a safe and attractive business destination. Palki Sharma brings you a report.

Gravitas: Kashmir hosts investors from UAE, Saudi Arabia, and Hong Kong

This is the second consecutive day that services of Apple have suffered an outage. Services have been resumed now but Apple has not released any statement over what issue caused the widespread outage.

Apple services resume after widespread outage for second consecutive day

Japanese automaker Suzuki and 'flying car' firm SkyDrive Inc said, "they have signed a deal to team up in research, development and marketing of electric, vertical takeoff and landing aircraft."

Japanese automaker Suzuki signs deal with SkyDrive to develop 'flying cars'

This is the first time in the history of Kashmir that foreign investors are visiting J&K with aim of investments. The government said that this the start of a new era of economic development in the valley.

UAE explores investment opportunities, Jammu and Kashmir eyes $9.1 billion foreign investment

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive.

Kevin Johnson, who has led the coffee giant since 2017, plans to retire next month, the company said, adding it expects to name a new CEO by the fall.&nbsp;

Schultz, 68, who first joined the company in 1982, grew Starbucks from a small Seattle coffee chain into a global juggernaut in two earlier stints as chief executive.&nbsp;

He also flirted with running for the US presidency in 2020, but ultimately opted against seeking office. His real-time wealth was valued at $4 billion on Wednesday, according to a Forbes list of the richest people in the world.

"When you love something, you have a deep sense of responsibility to help when called," Schultz said. "Although I did not plan to return to Starbucks, I know the company must transform once again to meet a new and exciting future where all of our stakeholders mutually flourish."&nbsp;

Shares of the coffee chain rocketed higher Wednesday, even as union leaders expressed misgivings about Schultz.

'Reputational risk'

With more than 34,000 stores worldwide, Starbucks reported a record $29.1 billion in annual revenues last year but has struggled of late to manage rising costs amid a tight labor market and supply chain problems.

Besides inflation, which is a headwind challenging companies throughout the economy, Starbucks is confronting a growing wave of unionization campaigns that has spread to more than 100 US stores after workers at two upstate New York cafes voted to form a union in December.

Johnson, 61, told the board a year ago that he was considering retiring in the wake of the upheaval of the pandemic, calling the decision "a natural bookend to my 13 years with the company," according to the company press release.

Starbucks said it had enlisted recruitment firm Russell Reynolds Associates in "continuous CEO succession planning" since 2021. Johnson plans to work as a consultant to the company through September.

The union movement poses challenges for the chain, which has been viewed as a worker-friendly company by many political progressives in the United States given its stance on gay marriage, race relations, the environment and other issues.

But Starbucks' tactics to discourage workers from unionization poses "reputational risk," shareholder activists argued in a letter sent to Johnson and Starbucks Chair Mellody Hobson ahead of the company's annual meeting later Wednesday.

Highlighting "alleged retaliatory termination and continued captive audience meetings," the shareholder group urged Starbucks to "publicly commit to a global policy of neutrality," said Trillium Asset Management, Parnassus Investments and other Starbucks shareholders who manage some $3.4 trillion in assets.

Looking externally

News of Schultz' return drew a cool response from Starbucks Workers United, which referred to the executive as a "leader in Starbucks' anti-union campaign," and urged him "to put union-busting behind him."

Ahead of the union vote, Schultz visited Buffalo in November to try to persuade workers against voting for the group.

In a letter to workers titled "From Buffalo with love," Schultz highlighted Starbucks' benefits for workers, including health care and free college tuition, saying he was "saddened and concerned" that workers felt outside representation was needed.

But staff at two Buffalo cafes voted with Starbucks Workers United on December 9. Since then, additional Buffalo-area shops have also voted with the group, along with a cafe in Mesa, Arizona, while employees at dozens more are working to form a union.

Equity analysts at investment firm Cowen said they were "a bit surprised" that Starbucks was searching for external CEO candidates, naming a number of high-ranking executives who could have taken over.

"We note a strong internal bench, but believe unionization publicity could be a factor pushing the company to look externally," Cowen said in a note.

Shares of Starbucks jumped 5.4 percent to $87.61 in afternoon trading.

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive.

Longtime Starbucks chief Howard Schultz will return to the helm of the global coffee shop chain, the company announced Wednesday, serving as interim CEO while the company searches for a new leader amid a growing unionization drive. Kevin Johnson, who has led the coffee giant since 2017, plans to retire next month, the company said, adding it expects to name a new CEO by the fall. Schultz, 68, who first joined the company in 1982, grew Starbucks from a small Seattle coffee chain into a global juggernaut in two earlier stints as chief executive. He also flirted with running for the US presidency in 2020, but ultimately opted against seeking office. His real-time wealth was valued at $4 billion on Wednesday, according to a Forbes list of the richest people in the world. "When you love something, you have a deep sense of responsibility to help when called," Schultz said. "Although I did not plan to return to Starbucks, I know the company must transform once again to meet a new and exciting future where all of our stakeholders mutually flourish." Shares of the coffee chain rocketed higher Wednesday, even as union leaders expressed misgivings about Schultz. 'Reputational risk' With more than 34,000 stores worldwide, Starbucks reported a record $29.1 billion in annual revenues last year but has struggled of late to manage rising costs amid a tight labor market and supply chain problems. Besides inflation, which is a headwind challenging companies throughout the economy, Starbucks is confronting a growing wave of unionization campaigns that has spread to more than 100 US stores after workers at two upstate New York cafes voted to form a union in December. Johnson, 61, told the board a year ago that he was considering retiring in the wake of the upheaval of the pandemic, calling the decision "a natural bookend to my 13 years with the company," according to the company press release. Starbucks said it had enlisted recruitment firm Russell Reynolds Associates in "continuous CEO succession planning" since 2021. Johnson plans to work as a consultant to the company through September. The union movement poses challenges for the chain, which has been viewed as a worker-friendly company by many political progressives in the United States given its stance on gay marriage, race relations, the environment and other issues. But Starbucks' tactics to discourage workers from unionization poses "reputational risk," shareholder activists argued in a letter sent to Johnson and Starbucks Chair Mellody Hobson ahead of the company's annual meeting later Wednesday. Highlighting "alleged retaliatory termination and continued captive audience meetings," the shareholder group urged Starbucks to "publicly commit to a global policy of neutrality," said Trillium Asset Management, Parnassus Investments and other Starbucks shareholders who manage some $3.4 trillion in assets. Looking externally News of Schultz' return drew a cool response from Starbucks Workers United, which referred to the executive as a "leader in Starbucks' anti-union campaign," and urged him "to put union-busting behind him." Ahead of the union vote, Schultz visited Buffalo in November to try to persuade workers against voting for the group. In a letter to workers titled "From Buffalo with love," Schultz highlighted Starbucks' benefits for workers, including health care and free college tuition, saying he was "saddened and concerned" that workers felt outside representation was needed. But staff at two Buffalo cafes voted with Starbucks Workers United on December 9. Since then, additional Buffalo-area shops have also voted with the group, along with a cafe in Mesa, Arizona, while employees at dozens more are working to form a union. Equity analysts at investment firm Cowen said they were "a bit surprised" that Starbucks was searching for external CEO candidates, naming a number of high-ranking executives who could have taken over. "We note a strong internal bench, but believe unionization publicity could be a factor pushing the company to look externally," Cowen said in a note. Shares of Starbucks jumped 5.4 percent to $87.61 in afternoon trading.

Howard Schultz returns to Starbucks as interim leader, Johnson exits

Japanese Yen has remained under pressure and Australian dollar was bruised by latest lockdowns in china following new covid-19 outbreaks.

Australian dollar bruised by lockdown, US fed reserve set to raise rates

Oil prices have fallen more than five percent and it's the lowest level in nearly two weeks.

Oil prices falls over 5%, lowest in nearly two weeks

U.S.-India Business Council or USIBC, Atul Keshap has said that Democracies like India and US need to "stick together" amid the "tough geopolitical time" as both believe in "politics of prosperity". Speaking to our Principal Diplomatic Correspondent Sidhant Sibal, the former top American diplomat in Delhi said, "I want democracies to work together. It's is good for freedom loving people." This is his first visit to India as President of USIBC to Delhi during which he met with top minister including external affairs minister Dr S Jaishankar. He formerly served as U.S. Ambassador to Sri Lanka and the Maldives and Principal Deputy Assistant Secretary of State of the Bureau of East Asian and Pacific Affairs at the United States Department of State.

Democracies need to stick together in tough geopolitical times, USIBC chief Atul Keshap

WION spoke to Atul Keshap, the US-Indian business council chief. He said that people-to-people ties between India and the US are unbeatable.

WION speaks to Atul Keshap, the US-Indian business council chief

Japan's household spending was up in January but the business mood is sinking in the first quarter. Because of rising raw material costs, it has squeezed corporate margins.

Japan's business mood sinks: Slowdown eclipses household spending boost

The US is hoping Boris Johnson can convince Saudi Arabia to pump more oil after the kingdom's royal snub for Joe Biden. Can the west convince Arab nations to increase output? Or will the solidarity of OPEC+ prevail? Palki Sharma tells you.

Gravitas: Decoding the bouncing oil prices

US markets closed sharply lower yesterday but today Asian stocks have regained their footing to some extent as investors are still assessing the impact of a worsening conflict in Ukraine and a new US ban on Russian oil.

Asian stocks regain their footing, Indian markets open in green

The export registration in Jammu and Kashmir has gone up by 173 per cent in 2021, government data has revealed.

The Government of Jammu and Kashmir shared the data&nbsp;which showed that a total of 2,863 Importer-Exporter Code (IEC) registrations have been done till date in the state.

Moreover, the value of exports from the last five years has increased from US$ 124.47 million to US$ 159.64 million.

IEC is a key business identification number that is mandatory for exports or imports. According to the government, the number of IECs issued in Jammu and Kashmir has increased from 204 registrations in 2020 to 557 in 2021.

Such numbers were achieved thanks to a joint initiative Jammu and Kashmir Trade Promotion and Organisation in collaboration with the Directorate General of Foreign Trade.

The collaboration was aimed to achieve the vision of export promotion under the Government of India’s vision of the ‘District as Export Hub’ initiative.

They had organised various registration drives, training-cum-capacity building workshops for strengthening the export scenario of J&amp;K.

More than 40 items from 20 districts of J&amp;K under the One District One Product have been selected and finalized by apex level Export Promotion Committee.

“A series of buyer-seller meets have been organised in association with different consulates in order to promote various products from Agriculture &amp; Handloom and Handicraft Sector and intends to do the same in near future also,” the Jammu and Kashmir government said in a statement.&nbsp;

The government intends to create an international brand for all the identified local products and give all the necessary support to interested exporters for promotion of their products and making connections with interested importers.

“As per the vision of the Prime Minister each district of our country has a diverse identity and potential for global market and we from the Department of Industries and Commerce have reached out to existing and potential Exporters. The UT of J&amp;K under the active guidance of Lieutenant Governor, Jammu and Kashmir is now on a fast transition path for opening global markets for the UT’s products and services,” said Ankita Kar, Managing Director, JKTPO.&nbsp;

The government expects the numbers of the registration of Importer-Exporter Code to go further up in 2022.&nbsp;

The export registration in Jammu and Kashmir has gone up by 173 per cent in 2021, government data has revealed. The Government of Jammu and Kashmir shared the data which showed that a total of 2,863 Importer-Exporter Code (IEC) registrations have been done till date in the state.

The export registration in Jammu and Kashmir has gone up by 173 per cent in 2021, government data has revealed. The Government of Jammu and Kashmir shared the data which showed that a total of 2,863 Importer-Exporter Code (IEC) registrations have been done till date in the state. Moreover, the value of exports from the last five years has increased from US$ 124.47 million to US$ 159.64 million. IEC is a key business identification number that is mandatory for exports or imports. According to the government, the number of IECs issued in Jammu and Kashmir has increased from 204 registrations in 2020 to 557 in 2021. Such numbers were achieved thanks to a joint initiative Jammu and Kashmir Trade Promotion and Organisation in collaboration with the Directorate General of Foreign Trade. The collaboration was aimed to achieve the vision of export promotion under the Government of India’s vision of the ‘District as Export Hub’ initiative. They had organised various registration drives, training-cum-capacity building workshops for strengthening the export scenario of J&K. More than 40 items from 20 districts of J&K under the One District One Product have been selected and finalized by apex level Export Promotion Committee. “A series of buyer-seller meets have been organised in association with different consulates in order to promote various products from Agriculture & Handloom and Handicraft Sector and intends to do the same in near future also,” the Jammu and Kashmir government said in a statement. The government intends to create an international brand for all the identified local products and give all the necessary support to interested exporters for promotion of their products and making connections with interested importers. “As per the vision of the Prime Minister each district of our country has a diverse identity and potential for global market and we from the Department of Industries and Commerce have reached out to existing and potential Exporters. The UT of J&K under the active guidance of Lieutenant Governor, Jammu and Kashmir is now on a fast transition path for opening global markets for the UT’s products and services,” said Ankita Kar, Managing Director, JKTPO. The government expects the numbers of the registration of Importer-Exporter Code to go further up in 2022.

Export registration in Jammu and Kashmir goes up by 173 per cent

It looks like the future of mobility is all electric and now Germany's Mercedes-Benz expects to have factories producing exclusively electric vehicles by second half of the decade but they'll steer clear of building EV-only plants.

Mercedes-Benz foresees EV-only production lines

Nestle India profit falls 20% as products are set to become expensive globally. Unilever also warned of a drop in margins.

Nestle India profit falls 20%

AirAsia Aviation Group unveiled plans for a low-cost air ridesharing service in Southeast Asia after signing a non-binding deal with lessor Avolon for at least 100 Vertical Aerospace VX4 electric vehicles.

AirAsia to lease at least 100 flying taxis to launch air ridesharing service

Trouble for the British PM Boris Johnson is not limited to the partygate scandal. The United Kingdom has also hit the highest inflation levels in the last three decades adding pressure to the cost of living and also to the Bank of England to keep raising rates.

UK inflation hits 30-year high

India's luxury car market which is around 40,000 cars has increased 40 percent last year, it's hoping to have a decent growth this year as well. To talk about this and much more today we are joined by Balbir Singh Dhillon, head of Audi India.

Luxury car sales in India witnessed 40% growth in 2021

Major global stock indexes fell on Thursday under pressure from crucial US inflation data, falling technology shares and rising benchmark bond yields.

US inflation data hits global stocks, highest in 40 years

Boeing has delivered just 32 aircraft last month, the plane makers as sidelined 787 Dreamliner program and it's continuing to weigh on its ability to capitalize on a recovery in air travel.

787 Dreamliner plane problem weighs on Boeing

Maruti Suzuki largest car maker, Bajaj Auto second largest two-wheeler player, TVS they all shown a decline in sales but Mahindra and Hyundai recovered and recorded growth.

Maruti Suzuki, Bajaj, TVS show decline in sales

Oil rose 1% on Monday, hovering near 7-year highs hit in the previous session, amid concerns over tight supply as well as geopolitical tensions in Eastern Europe and the Middle East.

Oil prices are up around 1%, tensions in Eastern Europe back high prices

In the new year 2022 new areas of concerns are emerging for world economy. The Omicron wave has it many nations and geopolitical tensions between European Union, Russia and in UAE they have all sport investors, so what could be impact of all these developments. Today, for this we are joined by Narayan Shroff investments head of Barclays private client.

What is the concern of Covid-19 third wave on global economies?

China will toughen law enforcement to curb monopoly practices and unfair competition this time in its pharma industry, the action follows November's regulatory guidelines that were to stamp out monopoly's inactive pharma ingredients.

China's crackdown on Pharma industry

In another news from China where as a resurgence of covid-19 cases and tough lockdowns hit production and demand growth in China's factory activity has slowed down this month, however, the slight expansion offered some signs of resilience as world's second largest economy enters a lightly bumpy New Year.

China January factory activity growth slows, COVID surge hits production & demand

After US government ramped up trillions of dollars in covid-19 relief, economy has notched its strongest growth in nearly four decades in 2021. It is also seen that forging ahead despite the crisis from the pandemic.

US economy's strongest growth in 40 years

Texas, Indiana, Washington state and the district of Columbia they've all sued alphabet's Google over deceptive location tracking practices that invade users privacy. The search engine firm is accused of falsely leading consumers to believe that changing their account and device settings would allow customers to protect their privacy.

Google sued over location-tracking

South Korea's economy has expanded at fastest pace in last 11 years last year. However, a slowdown in capital investment, it can cast cloud over outlook for growth this year. Bank of Korea's data showed GDP expanded four percent in 2021 as demand for exports soared.

South Korea's GDP growth at 11-year high

iPhone maker Apple was fined 5 million euros by the Dutch antitrust regulator for failing to comply with an order to open its app store to allow dating app providers in the Netherlands to use alternative payment methods.

Dutch watchdog fines apple $5.65 million

Latest to enter electric car race could be French-Japanese auto alliance Renault–Nissan–Mitsubishi motors. The companies plan to triple their investment to jointly develop electric vehicles reports say established automakers are facing pressure from new competitors and an expected shift in demand towards electric vehicles.

Renault, Nissan, Mitsubishi to unveil 2030 EV plan soon

Germany's flagship carrier Lufthansa is in talks to buy a 40% stake in Italy's state-owned Alitalia's, following a newspaper report that a deal could be unveiled next week.

Germany: Lufthansa in talks to buy 40% stake in Italy's ITA Airways

business

Business, News on Business, stories on Business, articles on Business, Business stories at Wion, Business news, Business latest news