Tuesday, December 27, 2011

Business News

Tanishq stores across the country have started a new sub-brand Mia, which is targeted at working women in the age-group of 20-30 years.

Cyrus Mistry, the younger son of construction tycoon Pallonji Shapoorji Mistry, has been chosen to succeed Rattan Tata as the Chairman of the Tata group. He will take over in December 2012. He will be the sixth and youngest chairman of the Tata group, and only the second non-Tata after Sir Nowroji Saklatvala to head the group.

Jaxtr Inc., founded by Sabeer Bhatia and Yogesh Patel, has announced the launch of JaxtrSMS, a cross-platform, open-texting application to send SMSs to anyone in the world for free.

The Tokyo and Osaka stock exchanges have agreed to merge in 2013 to create the world’s third-biggest bourse with listed stocks worth around $3.6 trillion. The combined value of stocks listed on exchanges would trail only NYSE Euronext at $12 trillion and NASDAQ OMX Group Inc at nearly $4 trillion.

Adidas, the German sportswear and equipment maker, is set to launch a shoe costing one dollar a pair in India. The shoe will be sold in villages through a distribution network.

California-based mobile video service provider, Vuclip, has launched India’s first independent mobile movie portal — Starlight Cinema. This would offer users the options of watching shortened feature films, movie clips, songs, reviews and trailers.

Titan Industries, India’s largest organised watches retailer, has decided to acquire heritage Swiss watch brand Favre Leuba for two million euros. Created in 1737, Favre Leuba is one of the very first watch making companies in Switzerland.

Professional social networking site LinkedIn has opened a research and development (R&D) centre in Bangalore. This is the California-based company’s first R&D centre outside North America.

Tropicana 100%, the juice brand from PepsiCo, has launched a new campaign—Now Breakfast shall Win. The new campaign metamorphically depicts everyday battles between breakfast and the interruptions that lead to a rushed morning.

In the Fortune list of most powerful business women in India, ICICI Bank CEO Chanda Kochhar has been listed as the most powerful business woman in India. Former ICICI executive and Axis Bank MD and CEO Shikha Sharma is at the second spot.

Mukesh Ambani owned Infotel has acquired a 38.5% stake in digital learning solutions form Extramarks Education.

Reliance Brands, a unit of reliance Industries Ltd, has struck a deal with NYSE-listed American fashion retailer Kenneth Cole to open stores in top Indian metros.