July 2020 - Biz Journal

Nissan Magnite: Japan automaker bets big on small SUV to revive India biz

By any measure, Nissan Motor Co Ltd has had a dreadful run in India. A push to revive its lower-end Datsun brand flopped, sales have slumped 60% over the past five years and its sole plant in the country is operating way below capacity.

But the amount of money and energy that Nissan – battered by scandal and expecting a record $4.5 billion annual operating loss – will spend to turn its fortunes around in India will hinge on the sales of one vehicle, its new Magnite compact SUV, three sources with knowledge of the matter told Reuters.

The SUV may also determine how much heft Nissan will wield as it and alliance partner Renault SA thrash out their respective roles in the Indian market.

Unveiled this month and due to be launched either late this year or early

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Economic

Bold reform that triggers animal spirits needed for Indian economy: Rajan

July 31, 2020July 31, 2020 by Martha

Bold government reform that triggers “animal spirits” and implemented effectively is essential for India to come out of the Covid-19 setbacks, former RBI Governor Raghuram Rajan said on Thursday.

He also made it clear that the space for expanding the balance sheet for RBI is not “infinite”, and the central bank will need to have a strong focus on monitoring inflation as it does that.

Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more “debilitated” state as compared to its peers.

As per some estimates, economic growth is expected to contract by as much as 9.5 per cent in FY21 due to the coronavirus pandemic. The government and RBI have announced a slew of reforms to arrest the slide and aid the recovery.

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Invesment

Walmart Open Call 2020 Deadline is August 10

July 31, 2020July 31, 2020 by Martha

Could your product or products be sold from store shelves in Walmart? You’ll never know until you try.

Submissions to Walmart’s Open Call are due by August 10. The company annually hosts Open Call, a search for new and innovative products to sell in its stores.

Hundreds apply and hundreds benefit. Here’s a tale of a company which really “got a handle” on how to grow a small business.

In 2014 Mighty Good Solutions responded to a Walmart Open Call for products with the Mighty Handle.

A simple concept, the Mighty Handle is a molded plastic product which allows a person to carry six plastic shopping bags on its frame. Mighty Good Solutions made a deal with Walmart, which still carries the product.

Mighty Good Solutions has responded to the Open Call annually since. Its most recent success came last year with the acceptance of the Pizza Saver.

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Biz News

IndiGo tanks 4% on record Q1 net loss of Rs 2,844 crore, recovers later

July 30, 2020July 30, 2020 by Martha

Shares of InterGlobe Aviation – parent of IndiGo airline – declined 4 per cent to Rs 873 on the BSE on Thursday after the airline reported record net loss of Rs 2,844.3 crore in April-June quarter of FY21. The airline had reported record net profit of Rs 1,203 crore in the year-ago quarter.

“Closure of scheduled operations till May 24, 2020 and lower capacity deployment thereafter on account of Covid-19, significantly impacted the quarterly results. lndiGo reports net loss of Rs 2,844.3 crore,” said the airline in a statement. The loss before tax stood at Rs 2,842.6 crore for Q1FY21.

The airline recouped morning losses and was trading 1.73 per cent higher at Rs 925.5 apiece on the BSE ahead of its Board meeting scheduled for later today. In comparison, the S&P BSE Sensex was at 38,331 level, up 260 points or 0.68 per cent. The

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Economic

Flexible degree courses, multiple exit options among others reforms in NEP

July 30, 2020July 30, 2020 by Martha

Choice between 3 or 4 year undergraduate courses, multiple entry and exit options in degree courses, adding 3.5 crore seats in higher education institutions which will now have a single regulator, discontinuation of MPhil programmes and fixation of fees are among the higher education reforms outlined in the new National Education Policy (NEP).

The NEP was approved on Wednesday by the Union Cabinet.

Elaborating on the reforms, HRD Secretary Amit Khare said at a press briefing the policy aims to increase the Gross Enrolment Ratio in higher education including vocational education from 26.3 pc (2018) to 50 pc by 2035 and 3.5 crore new seats will be added to Higher Education Institutions (HEIs).

The undergraduate degree will be of either 3 or 4-year duration with multiple exit options within this period, with appropriate certifications — a certificate after completing

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Invesment

Bartering Helping Cash-Strapped Businesses Survive Pandemic

July 30, 2020July 30, 2020 by Martha

During economic downturns, such as high unemployment and cash shortages, bartering is always a go-to solution. This is what BizX is seeing during the economic hardship businesses are facing brought on by the pandemic.

According to BizX, its platform is emerging as an important tool for businesses so they can keep their cash reserves. Cashflow is a big issue even in normal times, but during this pandemic, it is especially challenging.

BizX Bartering

BizX is a digital barter exchange founded after 9/11 to help forge relationships and help businesses connect. The goal is to provide a platform in which businesses can support each other, especially during times of crisis. BizX is a community of more than 7,000 businesses who trade what they have to get what they need with the goal of freeing up cash flow.