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BENGALURU, India (AP) — Microsoft CEO Satya Nadella urged in a speech to more than a thousand Indian computer code developers on Thursday that they use the company's artificial intelligence tools being deployed across its products. Nadella said Microsoft Corp. expects that use of AI can help achieve 10%, or $500 billion, of India’s GDP target for 2025. Microsoft is building its fourth data center in India near the city of Hyderabad, where Nadella grew up. Nadella boasted in a speech in Mumbai on Wednesday that his company is still ahead on most benchmarks. Indian Prime Minister Narendra Modi met with Nadella during a visit to the U.S. last June.

Persons: Satya Nadella, ” Nadella, Nadella, ”, “ We’re, It’ll, Narendra Modi, ___ O'Brien Organizations: Microsoft Corp, Microsoft, Hyderabad, OpenAI, Google, Nadella, Apple Inc, Microsoft's, Indian, U.S Locations: BENGALURU, India, Bengaluru, Silicon, United States, Hyderabad, Mumbai, Pune, Chennai, Nadella, Microsoft's India, Providence , Rhode Island

☆ The Starbucks CEO's 'favorite go-to drink' at the coffee chain costs around $3
▼ + stars: | 2023-11-27 | by ( Kwan Wei Kevin Tan | Lloyd Lee | ) www.businessinsider.com time to read: +2 min

Starbucks CEO Laxman Narasimhan told Fortune about his favorite beverage at the coffee chain. Narasimhan said he enjoyed a "Doppio Espresso Macchiato with some hot milk on the side." AdvertisementYou won't need to place a complicated special order if you want to enjoy Starbucks CEO Laxman Narasimhan's favorite drink at the coffee chain. "My favorite go-to drink at Starbucks is the Doppio Espresso Macchiato with some hot milk on the side," Narasimhan told Fortune last month. The cup of hot coffee would set you back by around $3, depending on which state you purchase the drink from.

Persons: Laxman Narasimhan, Fortune, Narasimhan, —, Laxman, Howard Schultz Organizations: Starbucks, Service, Wall Street Journal, Business Insider Locations: India, Pune

☆ Indians are spending big on travel, but most of that money isn't leaving the country
▼ + stars: | 2023-11-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +2 min

The world famous Gateway of India monument in Mumbai, India was built during the 20th century to commemorate the visit of king George V and Queen Mary. India's travel landscape is changing as the country emerges as a powerhouse in the tourism sector. Their willingness to spend big while traveling is going, but research shows that most Indians are traveling domestically — not overseas. Indian travelers took 1.7 billion leisure trips in 2022 but most never left the country, and only about 1% traveled abroad, according to Booking.com and McKinsey. Here are the top 10 spots for Indians traveling within their own country, according to Booking.com and McKinsey.

Persons: George V, Queen Mary, McKinsey Organizations: McKinsey, McKinsey Mumbai, CNBC Locations: India, Mumbai, McKinsey ., Delhi Bengaluru Mumbai Chennai Pune Hyderabad, Jaipur Kochi Kolkata, New Delhi, Bengaluru, Chennai, Kochi

☆ Hazlewood expects Maxwell to face Bangladesh after Miracle of Mumbai
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Nov 9 (Reuters) - Paceman Josh Hazlewood expects Glenn Maxwell to face Bangladesh in Australia's final round-robin match at the World Cup this weekend despite the gruelling nature of his spectacular innings against Afghanistan on Tuesday. Maxwell suffered the excruciating pain of all body cramps at Wankhede Stadium as he scored an unbeaten double century that has been hailed as the greatest one-day international innings of all time by cricketing luminaries. The unlikely three-wicket victory sent Australia into a semi-final against South Africa and rendered Saturday's clash against Bangladesh in Pune a dead-rubber but Hazlewood reckons Maxwell will still suit up for the match. "He went down like he was a shot, lying down like a dead man on the floor," team physiotherapist Nick Jones recalled on Cricket Australia's website. Maxwell did get up and, despite struggling to move, relied on his natural batting instincts to complete the extraordinary innings.

Persons: Josh Hazlewood, Glenn Maxwell, Maxwell, Hazlewood reckons Maxwell, Nick Jones, Glenn, Jones, Nick Mulvenney, Peter Rutherford Organizations: Afghanistan, South, Bangladesh, News Ltd, cramp, Cricket, Thomson Locations: Bangladesh, Australia's, Australia, South Africa, Pune

☆ England eye 'proper performance' against Pakistan, says Buttler
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - England captain Jos Buttler said the team have shown a desire to "put things right" in India after a dismal World Cup campaign and are determined to secure a spot in the 2025 Champions Trophy with a top-eight finish. Ahead of the bottom three - Bangladesh, Sri Lanka and the Neteherlands - on net run rate, England head to Kolkata for their final match against fifth-placed Pakistan, who will host the next edition of the eight-team Champions Trophy. "We haven't performed the way we wanted to this whole trip and we'd like to leave India putting in a proper performance," Buttler told reporters. "Not playing for what we wanted to be playing for, but a really vital match for us in the grand scheme of things. Reporting by Chiranjit Ojha in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Jos Buttler, haven't, Buttler, everyone's, Chiranjit, Peter Rutherford Organizations: Thomson Locations: England, India, Netherlands, Pune, Bangladesh, Sri Lanka, Kolkata, Pakistan, Bengaluru

☆ Australia's Maxwell will inspire a new generation, says coach McDonald
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

PUNE, India, Nov 9 (Reuters) - Australia coach Andrew McDonald believes Glenn Maxwell's breath-taking shotmaking, best illustrated by his incendiary double hundred in Monday's World Cup match against Afghanistan, will inspire a new generation of cricketers. Hobbled by cramp during the latter stages of his innings, Maxwell smacked 10 sixes and 21 fours in his batting pyrotechnics and McDonald said it would take time to fully appreciate the magnitude of the feat. McDonald said the all-rounder was impacting batsmanship like compatriot Ricky Ponting or South African stalwart AB de Villiers did in the past. "Players take the game forward every day, and the game is better today than it was yesterday," the coach said. "Glenn Maxwell will no doubt inspire a new generation with some outrageous shots..."That's the beauty about the game, and he stretched the boundary as did AB de Villiers and Ricky Ponting in their time as well.

Persons: Andrew McDonald, Glenn Maxwell's, Pat Cummins, Maxwell, McDonald, Patty, Ricky Ponting, de Villiers, Glenn Maxwell, Villiers, Amlan Chakraborty, Simon Cameron, Moore Organizations: cramp, Bangladesh, South, de, Thomson Locations: PUNE, India, Australia, Afghanistan, New Delhi

NEW DELHI (AP) — A toxic blanket of grey smog hangs over New Delhi’s monuments and high-rises. Authorities are struggling to rein in severe air pollution levels, an annual and chronic health crisis that disrupts the lives of over 20 million in the city every year. On Tuesday, the air quality index veered close to the 400 mark for tiny particulate matter, a level considered hazardous and more than 10 times the global safety threshold, according to SAFAR, India’s main environmental monitoring agency. The severe air pollution crisis affects every resident in the city, but the millions who work outdoors are even more vulnerable. "If I had had employment back home, I wouldn’t have come to Delhi to work.”

Persons: SAFAR, ”, Srinivas Rao, Gulshan Kumar Organizations: DELHI, Authorities, Sri, Arun, Indian, Meteorology, Living Sciences Locations: Andhra Pradesh, India, New Delhi, Bangladesh, Pune . New Delhi, Bihar, ”, Delhi

☆ India's Pandya ruled out of World Cup, Krishna joins squad
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 4 (Reuters) - India vice-captain Hardik Pandya has been ruled out of the rest of the World Cup after the all-rounder sustained an ankle injury last month, the International Cricket Council (ICC) announced on Saturday as it approved Prasidh Krishna as his replacement. Pandya injured his left ankle while trying to stop a shot with his foot on his own bowling during India's seven-wicket win over Bangladesh in Pune on Oct. 19. Pandya picked up five wickets for the hosts in their opening three matches of the World Cup tournament and pace bowler Krishna has played 17 one-day internationals and two Twenty20 matches for India claiming 33 wickets overall. Krishna will face competition from Jasprit Bumrah, Mohammed Shami and Mohammed Siraj for a spot in India's pace line-up. Semi-finals-bound India have managed well in the absence of Pandya and lead the table with seven wins from as many matches.

Persons: Hardik Pandya, Prasidh Krishna, Pandya, Krishna, Jasprit Bumrah, Mohammed Shami, Mohammed Siraj, Shrivathsa Sridhar, Michael Perry Organizations: International Cricket Council, ICC, Bangladesh, England, India, Thomson Locations: BENGALURU, India, Pune, England , New Zealand, Sri Lanka, South Africa, Kolkata, Bengaluru

☆ Ferguson to return for NZ v SA, but Chapman, Williamson doubtful
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

"We'll obviously get through hopefully a bit of work today and then we'll see how they pull up from a selection point of view," the wicketkeeper-captain said. "Lockie went off in the last game with a bit of an Achilles' niggle, so fingers crossed he'll be fine for tomorrow." Ferguson was injured during Saturday's high-scoring game against Australia which New Zealand lost by five runs, falling to fourth on the table. "So fingers crossed, all those guys can get through a bit of work today at training and be ready to go tomorrow." The Black Caps face in-form South Africa who have climbed to second in the table with three straight wins.

Persons: Zealand's Lockie Ferguson, Andrew Couldridge, Tom Latham, Lockie Ferguson, Kane Williamson, Mark Chapman, Pune . Latham, Williamson, Lockie, Achilles, niggle, Ferguson, Chapman, Neesham, We've, Latham, Chiranjit, Ed Osmond Organizations: New, Bangladesh, Australia, New Zealand, Thomson Locations: London, Britain, New Zealand, South Africa, Pune ., Africa, Bengaluru

☆ India sets $800 per ton minimum export price on onions till end-December
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

Workers of a retail chain sort onions at Manchar village in Pune, India, November 11, 2019. REUTERS/Rajendra Jadhav/File Photo Acquire Licensing RightsOct 28 (Reuters) - India has set a floor price of $800 per metric ton minimum export price on onions up to Dec. 31, the government said on Saturday, in a bid to ensure adequate domestic availability and to stabilise prices. The government also announced procurement of 200,000 tons of onions for its buffer, over and above the 500,000 tons already procured, it said in the statement. The south Asian nation had in August imposed a 40% export duty on onions up to Dec. 31 to improve domestic availability of the vegetable. Reporting by Baranjot Kaur in Bengaluru and Neha Arora; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Rajendra, Baranjot Kaur, Neha Arora, David Evans Organizations: REUTERS, Thomson Locations: Manchar, Pune, India, Bengaluru

☆ Indian Muslims Flunk the Israel Test
▼ + stars: | 2023-10-26 | by ( Sadanand Dhume | ) www.wsj.com time to read: +1 min

But the fact it kicked in mere hours after Hamas’s civilian slaughter on Oct. 7—the assertion that somehow Israel drove Hamas to do it—deserves examination. Images: Zuma Press/AFP/Getty Images Composite: Mark KellyThe Hamas attacks in Israel this month presented the world with a stark test of moral clarity that the leaders of India’s 200 million Muslims appear intent on flunking. Their refusal to condemn the terrorist group’s savagery, or in some cases even to acknowledge it, is exceedingly foolish. It will fan fears of Islamic extremism among India’s Hindu majority and drive away the centrist allies Indian Muslims need to safeguard their rights. Indian Muslim political and intellectual elites have adopted a fanatically one-sided approach to Gaza that has fueled pro-Palestinian protests in Delhi, Pune, Mumbai, Bangalore, Aligarh and Hyderabad, among other Indian cities.

Persons: Israel, Mark Kelly, Tavleen Singh, “, ” Organizations: Zuma Press, Getty, Hamas Locations: Israel, Gaza, Delhi, Pune, Mumbai, Bangalore, Aligarh, Hyderabad, India

☆ Sold out hotels and spike in beer sales: How the Cricket World Cup could boost India's economy
▼ + stars: | 2023-10-19 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

Spectators react in the crowd during the ICC Men's Cricket World Cup India 2023 between India and Afghanistan at Arun Jaitley Stadium on October 11, 2023 in Delhi, India. Matt Roberts-icc | Icc | Getty ImagesIndia is once again hosting the Cricket World Cup after more than a decade. "We must remember that the World Cup coincides with the Diwali season. Media and advertisingDuring the last Cricket World Cup in 2019, a global average of 1.6 billion people tuned in. Spectators watch the 2023 ICC Men's Cricket World Cup one-day international (ODI) match between Australia and Sri Lanka at the Ekana Cricket Stadium in Lucknow on Oct. 16, 2023.

Persons: Matt Roberts, Shantanu Bhargava, Lalitya, Avi Mehta, Waterfield, Bhargava, Dhavala, Aditya Suresh, Suresh, Zomato, Prakash Singh, Mehta, —, Radico Khaitan, Shibani Kurian, It's, Tauseef Mustafa Organizations: ICC Men's Cricket, Arun, icc, Icc, Getty, Cricket, Waterfield Advisors, Hospitality, CNBC, International Cricket Council, Macquarie Group Demand, Bangladesh, Pakistan, Indian Hotels Company, Macquarie Group, Alcohol, Afp, Spirits, Kotak Mahindra AMC, Media, Disney, ICC, Board, Control, BCCI, Ekana Cricket Locations: India, Afghanistan, Delhi, Bangladesh, Sri Lanka, Pakistan, Ahmedabad, Australia, New Zealand, Netherlands, Pune, LSEG, New Delhi, Lucknow

☆ Six-hitting machine Rohit brings PlayStation-like feel to batting
▼ + stars: | 2023-10-15 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

"He was asking me the secret behind my big sixes, and if it had anything to do with the bat I use," Rohit told Pandya. The elegant right-hander overtook West Indian Chris Gayle's record of 553 sixes in international cricket heading into the match against Pakistan. After Saturday's match, Rohit also became only the third batter - after Gayle and Pakistan's Shahid Afridi - to smash 300 sixes in one-day internationals. "I have been trying to bat like this in the last two years," Rohit said of his batting approach in the World Cup. His 11 sixes from three matches in the ongoing World Cup is second only to Sri Lankan Kusal Mendis' 14 from two matches.

Persons: Narendra Modi, India's Rohit Sharma, Pakistan's Iftikhar Ahmed, Shaheen Afridi, Francis Mascarenhas, Marais Erasmus, Rohit Sharma's, Hardik Pandya, Rohit, Erasmus, Pandya, Chris Gayle's, Gayle, Pakistan's Shahid Afridi, Mendis, Dinesh Karthik, Rohit Sharma, there's, Karthik, Amlan Chakraborty, Muralikumar Organizations: Cricket, ICC Cricket, Shaheen Afridi REUTERS, Rights, Pakistan, Narendra, West, Sri, Sky Sports, Thomson Locations: India, Pakistan, Ahmedabad, Rights AHMEDABAD, Sri Lanka, Sri Lankan, Bangladesh, Pune

The case concerns a former senior IT manager who raised concerns about how a data loss had been handled. A hearing for Barclays' appeal to the Bombay High Court is listed for Oct. 20, court records show. They declined to comment on the specifics of the Indian case. Gupta has also appealed to the Bombay High Court, court records show, arguing the pay-out awarded was too low, the source familiar with the appeals said. Last year, Gupta also filed a secondary civil case against Barclays, another court filing shows.

Persons: Atul Gupta, Jes Staley, Francesca West, Gupta, Arpan Chaturvedi, Sinead Cruise, Alexander Smith Organizations: Barclays, Reuters, Financial, Authority, FCA, Global Service Centre Private Limited, Bombay High Court, Thomson Locations: Indian, Pune, Bombay

☆ India bus fire kills 25 - ANI
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: 1 min

July 1 (Reuters) - Twenty five people died and about eight people were injured after a bus travelling in India's Maharashtra state caught fire, India's ANI News Agency reported early on Saturday. The bus, travelling from Yavatmal to Pune, was carrying 32 people, the report said. Reporting by Rahat Sandhu in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Rahat Sandhu, William Mallard Organizations: Agency, Thomson Locations: India's Maharashtra, Yavatmal, Pune, Bengaluru

☆ Buldhana: At least 25 dead after wedding party bus bursts into flames in India
▼ + stars: | 2023-07-01 | by ( Sandi Sidhu | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —At least 25 people have been killed after a bus carrying a wedding party burst into flames after crashing in India’s western state of Maharashtra on Saturday. Baburao Mahamuni, Deputy Superintendent of Police in Buldhana, said the incident had taken place on the Samruddhi Mahamarg expressway, CNN’s Indian affiliate News 18 reported. Mahamuni said the injured were being taken to Buldhana Civil Hospital. “Chief Minister Eknath Shinde has expressed deep grief over the horrific accident of a private bus on the Samruddhi highway near Sindkhedaraja in the Buldhana district,” the tweet read. It said the Chief Minister’s Relief Fund would provide around $6,000 to the families of each person killed “in this unfortunate incident”.

Persons: Baburao Mahamuni, Mahamuni, Eknath Shinde Organizations: Hong Kong CNN, Civil Hospital, Police, Minister’s Locations: Hong Kong, Maharashtra, Buldhana, Yavatmal, Pune, Sindkhedaraja

CARE Hospitals Group, according to another investor source, is in talks to sell a 70% stake to U.S. investment giant Blackstone (BX.N) in a deal valued at $800 million. MORE ATTRACTIVE THAN EVERAs government hospitals became increasingly overburdened and incomes rose in India's vast middle class, demand for private healthcare rose over the years. "The India healthcare opportunity has always been attractive, but never more than now. In 2022, PE investors spent $3.2 billion buying stakes in hospitals in India. "Big private hospitals are more reliable," said 35-year-old G. Chavan said as he accompanied his wife to see a doctor.

Persons: Rana Mehta, PwC's, Atlantic, Indira, Blackstone, Gaurav Sharma, Investcorp, Nishant Sharma, Sharma, Chavan, Sriram, Aditya Kalra, Simon Cameron, Moore Organizations: PwC, General Atlantic, CARE Hospitals, Blackstone, CARE, Kedaara Capital, ASIA'S PACE, Temasek, Reuters Graphics, Apollo Hospitals, Thomson Locations: India, PUNE, Pune, Indira, Bahrain, Mumbai, Manipal, Asia

☆ Poland's Majchrzak receives 13-month ban after failing drug test
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - Poland's Kamil Majchrzak has been suspended for 13 months by the International Tennis Integrity Agency for failing a drug test, it said on Thursday. "At the end of 2022, I lost everything in an instant. Since I was a child, I have been training hard to make my dreams come true. Tennis is not only my job, but above all it is my whole life," Majchrzak wrote on Instagram. Reporting by Tommy Lund in Gdansk Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Poland's Kamil Majchrzak, Majchrzak, Tommy Lund, Toby Davis Organizations: Tennis Integrity Agency, Challenger, Thomson Locations: Sofia, Japan, Seoul, LGD, Busan, South Korea, Pune, India, Gdansk

☆ US stocks are in the firing line if China’s economy stalls further
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.

Persons: That’s, China —, Capvision, China Nicholas Burns, ”, Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, ”, Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India

☆ Diageo's long-time boss Ivan Menezes dies after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

June 7 (Reuters) - Diageo (DGE.L) on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world's biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie Walker whisky maker announced this week. British-American national Menezes, born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. The executive, who was behind the "Keep Walking" campaign for Johnnie Walker when he was marketing head, previously held roles at Whirlpool and Nestle. Menezes, who was awarded a knighthood this year, is survived by his wife and two children.

Persons: Ivan Menezes, Johnnie Walker, Debra, Menezes, Ivan, Javier Ferrán, Julio, Arvind Subramanian, Subramanian, Menzes, Eva Mathews, Sinchita Mitra, Dhanya Skariachan, Sherry Jacob, Phillips, David Evans Organizations: Diageo, American, Guinness, Grand Metropolitan, Whirlpool, Nestle, Government of, Indian Institute of Management, Thomson Locations: Indian, Pune, Government of India, Ahmedabad, India, Bengaluru

☆ Diageo's long-time boss Ivan Menezes passes away after brief illness
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Diageo (DGE.L) said on Wednesday long-time boss Ivan Menezes has passed away following a brief illness. The announcement comes after the world's biggest spirits company on Monday said CEO-designate Debra Crew would assume the top role on an interim basis immediately as Menezes was under medical treatment. British-American national Menezes, 63, who was born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. Sales at Diageo, the maker of Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, surged under Menezes' leadership, and he steered the company through multiple brand acquisitions as well as a major sustainability overhaul. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Menezes, Debra, Menezes, Johnnie Walker, Julio, Eva Mathews, Sherry Jacob, Phillips Organizations: Diageo, American, Guinness, Grand Metropolitan, Thomson Locations: Indian, Pune, Bengaluru

☆ India's Bajaj Finance beats Q4 profit expectations on strong loan demand
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, April 26 (Reuters) - Indian non-bank lender Bajaj Finance Ltd's (BJFN.NS) fourth-quarter profit beat estimates on Wednesday, led by strong customer addition on the back of demand for loans. Consolidated net profit rose 30.5% to 31.58 billion rupees ($386.4 million) for the quarter ended March 31, beating analysts' expectations of 30.93 billion rupees, according to Refinitiv IBES data. The company's customers increased by about 3.1 million in the fourth quarter, it said earlier this month. Net interest income, the difference between interest earned on loans and paid on deposits, rose 28% to 77.71 billion rupees, while interest income jumped 33.6% year-on-year. ($1 = 81.7400 Indian rupees)Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Meet Laxman Narasimhan, a coffee industry outsider who just took over as CEO of Starbucks
▼ + stars: | 2023-03-20 | by ( Avery Hartmans | Nancy Luna | ) www.businessinsider.com time to read: +6 min

Laxman Narasimhan officially took over as Starbucks CEO, replacing Howard Schultz. Narasimhan is new to the coffee industry, having started his career in the consulting world before joining PepsiCo, and, later, British consumer goods company Reckitt Benckiser. Narasimhan built his career in the beverage and consumer-goods industriesLaxman Narasimhan at Starbucks Investor Day in September 2022. Starbucks said at the time that Narasimhan would begin as CEO on April 1, taking over for interim CEO Schultz. Of the 365 Starbucks stores that have held votes to unionize, 292 have voted to form a union.

☆ Analysis: India's rising home prices, rentals a new inflation threat
▼ + stars: | 2023-01-17 | by ( Siddhi Nayak | ) www.reuters.com time to read: +4 min

Housing rentals and ancillary costs have a 10.07% weightage in India's consumer price inflation basket and are near three-year highs, posing a fresh worry for the central bank that had to contend with rising food prices for most of last year. Urban housing inflation rose to 4.47% year-on-year in December 2022, versus 3.61% in the same period a year ago and 3.21% in December 2020, data from the Ministry of Statistics and Programme Implementation showed. "Core inflation has continued to remain sticky and hence an increase in housing inflation poses a significant risk to the overall inflation outlook," said Aditi Gupta, an economist at Bank of Baroda. While housing prices are not part of the consumer price inflation basket, their effect is captured through construction and raw material prices, and analysts do not expect a slowdown any time soon. Analysts said rising house prices would also feed into higher demand for services like electricity and repairs, ultimately working their way into the overall inflation basket.

☆ Tennis roundup: Novak Djokovic advances in Adelaide
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

January 5 - Top seed Novak Djokovic fended off an upset bid from World No. 64 Quentin Halys to win 7-6 (3) 7-6 (5) on Thursday at the Adelaide International 1 in Adelaide, Australia. 6 seed, Jannik Sinner of Italy, who posted a 7-6 (2), 6-4 win over home-country favorite Thanasi Kokkinakis. Sinner will meet American Sebastian Korda, who ousted Spaniard Roberto Bautista Agut 6-4, 6-4. ASB ClassicTop seed Coco Gauff ousted fellow American Sofia Kenin 6-4, 6-4 to advance to the quarterfinals in Auckland, New Zealand.

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