< Back Fear of ‘Economic nuclear winter‘ looms as global stock markets crash 7 Apr 2025 Bill Ackman, a billionaire investor, recently called out the looming fear of an economic "nuclear winter" due to the ongoing global trade war. With the US tariff hikes on 60 countries taking effect on April 2nd, some Asian indices reported their worst decline in 14 years. Indian indices fell by around 5%, Hong Kong’s Hang Seng by 12%, Japan’s Nikkei 225 by 8%, Taiwan's Taiex by 9.8%, China's CSI 300 by 8.08%, Australia’s S&P/ASX 200 by 4.4%, South Korea's Kospi by over 5%, and Shanghai’s SSE Composite index dropped by 8%. US indices, including the Nasdaq and S&P 500, suffered their worst two-day decline since March 2020, dropping by almost 6%. Dow Jones Industrial Average nosedived 2,200 points in one day, thus erasing over $6.6 trillion in overall market value. Global Brent crude oil benchmark tanked by 2.94% to $63.51 per barrel, its lowest in three years, and oil prices dissolved by 4% to $59.49 a barrel. Saudi Arabia reduced its crude oil prices by $2.30 per barrel for Asian buyers. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Income Tax Bill 2025 may improve compliance 13 Feb 2025 It introduces the term ‘Tax Year’ – 12 months from April 1. The term will replace the existing concept of assessment and previous years. The new Income Tax Bill is proposed to be implemented from April 1, 2026. It rewrites the direct tax law to improve compliance and reduce litigation. It retains the old tax regime, rates, and capital gains for individuals and businesses. There will be no change in tax rates or introduction of any new taxes for individual salaries. However, the Bill consolidates deductions like standard deduction, gratuity, and Tax Deducted at Source (TDS) into one place and introduces a formula for calculating depreciation and taxes. Incomes not included in the total income that were earlier part of the main body of the IT Act have been shifted to separate schedules to simply the new Bill. The Bill introduces Section 275 )6) mandating the Dispute Resolution Panel (DRP) to provide detailed directions, explaining the points of determination, the decision, and its reasons. It will enhance transparency and reduce reliance on past rulings. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back BMW outruns Tesla in European sales of EVs 23 Aug 2024 BMW sold 308 more EVs than Tesla in July for the first time. A lack of government incentives and buyers’ concerns about unpredictable resale value prompted a 6% decline in annual sales of Electric Vehicles (EVs) in Europe. As a result, sales of Tesla EVs fell by an average of over 16% in July. This favoured BMW, which sold 308 more EVs than Tesla for the first time. A strong brand reputation, a more comprehensive variety of EVs at a diverse price range, and an extensive dealer network helped BMW create a loyal following. Comparatively, Tesla always focused on the high-end market with its Model S, Model 3, and Model X. This enabled the German carmaker to attract the consumer segment looking for more affordable cars for whom Tesla was out of budget. BMW is also investing heavily in its battery and charging technology. It has partnered with various companies to expand its charging network across Europe to serve a diverse customer base. Previous Next

< Back Rolling Stone, Variety owner sues Google over AI summaries 16 Sept 2025 This is the first time Google is being sued over AI-generated summaries that appear at the top of its search results. Penske Media, the owner of Rolling Stone, Variety, and Billboard, sued Google in the Washington, D.C., Federal Court. It claims that Google use its journalistic content without consent, thus reducing traffic to its websites. It alleges that around 20% of Google search results linked to Penske websites show AI overviews, and its revenue has fallen by over a third from 2024-end. Penske pointed out that Google includes publishers’ websites in search results only if it can use their content in AI summaries. It could impose such terms due to its search dominance. Without this, Google would end up paying the publishers for the right to republish their work or use it to train their AI systems. Penske attracts 120 million online visitors per month. Several news organisations have also argued that Google’s AI Overviews pull traffic away from their sites, thus hogging their ad and subscription revenue. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes novel. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back Ola shutting down int’l business from April 12 10 Apr 2024 It is pulling out of the UK, Australia, and New Zealand markets and focusing on strengthening its India business with an IPO. Ride-hailing giant Ola Cabs is pulling out of all international markets for three reasons. First, the rising competition from Uber and emerging startups in these markets pushed Ola to reevaluate its strategies. Second, the growing governmental push on electric vehicles (EVs) in these nations meant converting its entire fleet to EVs, which demands significant investment. Third, it wanted to focus on the burgeoning Indian market, especially the EV segment. This move can save Ola USD 15 million yearly. In FY2023, Ola incurred GBP4.8 million worth of losses in the UK. Ola suffered major leadership exits. In 2018, it hired the former eBay Country head, Simon Smith, to lead the Australian market and the former COO of Google Europe, Ben Legg, to head the UK operations. Both quit in around two years. Chandra Nath was brought in from Silicon Valley to head global operations. He left in less than a year. Previous Next

< Back Nokia wins Airtel extension deal to deploy 4G. 5G gear 26 Nov 2024 Nokia will deploy equipment to boost Airtel’s network and coverage with 5G capacity and upgrade its existing 4G network. Airtel had finalised Nokia, Ericsson, and Samsung to buy 4G and 5G gear worth $1.2 billion over the next three years but sealed the deal with Nokia. The Finnish telecom company will provide its 5G AirScale portfolio along with base stations, baseband units, and the Massive MIMO radios (latest generation) powered by ReefShark System-on-Chip. Its equipment will enhance Airtel’s existing network with 5G capacity and upgrade the 4G network with multiband radios and baseband equipment capable of supporting 5G, too. This partnership will enable the highest quality connectivity for Airtel subscribers, and the Green 5G Initiative will boost the network’s energy efficiency. Airtel will use Nokia’s MantaRay Network Management for intelligent network monitoring and management. This software uses AI-based tools for digital deployment, technical support, and optimisation. Vodafone Idea (Vi) recently closed a $3.6 billion deal with Samsung and two European vendors to upgrade its 4G and launch 5G. Previous Next

< Back JSW Steel-JFE to acquire Thyssenkrupp Electrical Steel for ₹4,051.4 crore 21 Oct 2024 JSW Steel has a 50:50 joint venture with Japan’s JFE Steel Corp that will acquire a 100% stake in Thyssenkrupp Electrical Steel India (TKES). The JSW Steel – JFE joint venture is set to fully acquire Thyssenkrupp Electric Steel, including licensing or transferring its associated technology to enhance its portfolio of value-added steel products. TKES’s Nashik facility makes grain-oriented electrical sheets (GOES), which are used to manufacture energy-efficient transformers and bigger, high-performance generators. Jsquare Electrical Steel Nashik, the JSW-JFE joint venture, will execute the transaction. It expects to achieve immediate market access with this acquisition. The acquisition will enable the JSW-JFE joint venture to make GOES in India for domestic and global customers. Presently, India imports the majority of the GOES from Japan, Russia, and China. ArcelorMittal, POSCO, and Baosteel are the biggest global manufacturers of GOES. The market for GOES is valued at around $13 billion worldwide, projected to reach $20 billion by 2032. The acquisition is expected to be completed within eight months, subject to approval from the Competition Commission of India. Previous Next

< Back Govt may break four-tiered GST slab into two by Diwali 21 Aug 2025 The 5%, 12%, 18%, and 28% rate system would be replaced by 5% and 18% rates. The GST Council will meet in September to finalise the launch of new rates. Besides making certain items cheaper, it will correct the inverted duty structure, which means the GST paid on raw materials and services is higher than the one on the final product. For instance, yarn is taxed at 5% and finished garments carry a 5% GST rate, which requires the manufacturer to pay more tax on raw materials than on sales of finished products. The new regime will reduce the refund delays and facilitate manufacturing. It will simplify product categorisation, facilitate pre-filled returns and quicker registration for MSMEs. Products with 5% GST Personal care items, like toothpaste, soaps, and hair oil. Food and groceries Electronics Apparel and footwear Health Education Transport and Energy products, such as public transport vehicles, solar water heaters, and agricultural machinery. Products with 18% GST Items used in construction Appliances Automotive Beverages Check out my DEBUT BOOK, The Black Flames , on Amazon Kindle. Previous Next

< Back Fintechs offering credit card distribution to grow revenues 21 Nov 2023 Cred has already tied up with Axis Bank, and PhonePe is about to partner to provide Axis Bank’s credit cards on its platform. Several fintechs like Cred are partnering with banks to diversify their portfolio, boost user engagement, and expand into other revenue generation modes. Cred is already offering Axis Bank credit cards on its platforms. Walmart-backed PhonePe is in the process of tying up with Axis Bank to take the plunge. Such associations allow banks to access potential customers without spending much on lead generation and marketing. This trend could also pave the way for future co-branded card partnerships and enhanced options for credit card customers. A fintech platform can earn a commission fee between ₹500 and ₹2,500 for every customer sourced. Banks intend to leverage platforms’ user engagement levels to generate quality leads. However, the new dynamics are expected to transform the commission-based models to trail incomes, which translate as additional income earned by fintech platforms according to the credit card usage and interest paid. Previous Next

< Back Int’l car sunroof makers planning investments in India 7 Oct 2024 Now, around 27.5% of the cars sold in India have a sunroof, higher than 12.7% five years ago. One in four cars sold in India offers a sunroof, which has drawn the attention of global sunroof makers to India. Germany-based Webasto plans to invest €115 million to double its production capacity in India from 500,000 units annually to 950,000 units by 2027. Inalfa Gabriel Sunroof Systems (IGSS), the partnership between the Dutch company, Inalfa Roof Systems and Gabriel India, will double its capacity by next year. Their Chennai plant, which opened in 2024, can presently roll out 200,000 sunroof units yearly. It began operations by supplying sunroofs to Kia and Hyundai and expects to record a ₹1,000 crore revenue by 2030. In August, Uno Minda signed a license agreement with Japanese Aisin Corp to make and sell sunroofs. The market is expected to grow at a CAGR of 17.6% till 2029, Sunroofs are a status symbol despite their limited utility in the extreme weather conditions in Indian metros. Previous Next

< Back Reliance Retail begins superfast deliveries within an hour 26 Jun 2024 The company has started a pilot program to offer quick deliveries of groceries and FMCG products in some parts of Mumbai and Navi Mumbai. Reliance Retail launched a pilot program via its Jiomart mobile app, offering hyperlocal delivery in some parts of Mumbai and Navi Mumbai. With the addition of more stores and expansion into other markets, it will reduce the delivery time to 30-45 minutes. However, Reliance Retail will fulfil the quick delivery demand from its stores and warehouses. In areas without its own stores, Reliance will utilise the Kirana stores associated with the Jiomart Partner Initiative. These Kirana stores are connected to Reliance Retail’s backend and source products from its wholesale arms. Reliance is using tech solutions like FYND and Locus to optimise fulfilment and delivery routes. Currently, Reliance Retail delivers goods in between twelve hours and up to three days. Earlier, JioMart catered to online orders via WhatsApp in partnership with Meta Inc, launched in 2020. It started offering quick delivery via JioMart Express in 2021 and shut it down in early 2023. Previous Next

< Back Accor to open 30 hotels in India within 5 years 3 Apr 2024 Luxury hotel brands like Fairmont, Sofitel, and Raffles planned. Accor may consider launching luxury brands like Orient Express, too. European hospitality chain, Accor plans to launch 30 more luxury hotels in India within three to five years, and one hotel every week in Asia this year. In India, it currently operates 62 hotels under 9 brand names from its portfolio of 40 brands worldwide. It will open Raffles in Jaipur this year. The other cities on its radar are New Delhi, Mohali, Chandigarh, Amritsar, Bhubaneswar among others. Novotel, Ibis, and Pullman make up 70% of its entire business. It develops Ibis hotels in India in partnership with InterGlobe Aviation, the owner of IndiGo Airlines. IndiGo's aircraft order last year fueled its plans for expansion in India. Accor launched its luxury and lifestyle division a year and a half ago, offering 24 brands like Delano, Mama Shelter, Mondrian, 25hours, and MGallery. It already offers hotels, trains, and yatchs under Orient Express and is considering launching it in India. Previous Next