5 Headlines This Week That Aren’t All Doom And Gloom
- GE Finally Sees The Light
General Electric who’s founder Thomas Edison invented the lightbulb has sold it’s lighting divison to IoT compant Savabt Systems after struggling with falling revenues since 2017. Though Edison began his career by founding a lightbulb company, General Electric, which emerged from a merger with one of Edison’s rivals, grew into an industrial pwoerhouse, manufacturing everything from jet engines to automobiles. By 2017, lighting made up just two per cent of the company’s revenues, according to a CNN Money report from the time. Read more here…
- Google Leads The Way To WFH
Google CEO Sundar Pichai said in a company-wide email that though some of its offices were set to open from mid-July, employees had the option to work from home till the end of the year. He also announced a $1000 allowance to employees across the world in order to help them better set up their home offices. While most organisations have announced pay cuts and layoffs across the board, Google seems focussed on its most precious resource, people and their well being. Read more here…
- Spice Wars v.2.0-Coming Soon
With unprecendent numbers of people staying home and cooking, India’s spice trade is seeing a resurgence. Over the past week, the ITC Group acquired spice and masala manufacturer Sunrise Foods for an undisclosed amount which could be as high as INR 2000 crores, while down south MTR Foods, acquired masala maker Eastern Foods for INR 750 crores. Mumbai based Badshah Masala too is courting equity firm General Atlantic to sell it’s owner shares in one of India’s most recognizable brands. Read more here…
- Google Seeks To Hangout With Vodafone
Weeks after Jio accepted Facebook’s billion dollar friend request, Google seems to be eyeing a 5% stake in Vodafone-Idea. This move seems aimed at tapping into India’s massive telecom industry and puts internet based companies like Google and Facebook on a fast-track to break into the vast number of non smartphone using cutsomers on mobile networks. Read more here…
- As We All Scream For Ice Cream, Ice Cream Manufacturers Respond
Following the lead of alcohol companies and distributers, India’s ice cream and frozen desert manfacturers have startd delivering their tasty treats directly to homes across India. The move comes after a 40% drop in sales due to the lockdown and during an extremely hot summer as a heat wave sweeps through the nation. Read more here…
