Business & Finance
Business Today

Business Today 11-Mar-2018

A leading business magazine read by the business leaders for staying ahead and managing challenges that comes right away in the ever changing world of business.

Living Media India Limited
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26 Issues

in this issue

2 min.
high-performance workplaces

The fact that a happy workplace is a more productive workplace has been known since the advent of industrialisation. The most famous early experiments on how to improve workplace sentiment and hence productivity of workers took place in the late 1920s and early 1930s at Western Electric’s factory in Hawthorne in the US. It was conducted under the supervision of a sociologist named Elton Mayo. He used two groups of workers from the factory – one as the control group and the other on which the experimentation was conducted. The experiments focussed on changes in working conditions and environment – by changing the lighting at the workplace, tinkering with work hours, etc. At the end of the Hawthorne experiments, Mayo had come to certain conclusions. Among other things, he felt…

1 min.
businesstoday. in

STAY CONNECTED WITH US ON www.facebook.com/BusinessToday@BT_India PERSPECTIVES Will Ruias Challenge Insolvency Proceedings If Numetal Gets Disqualified? The fear of losing the bid might have forced large players from backing out of the bid process businesstoday.in/ruias-insolvency Govt Blames GST 'Accounting' for Fiscal Slippage; Economists Believe Otherwise If we account for the ₹36,000 crore additional revenue from one month of GST, it would cover a significant portion of the 300 bps slippage, says Finance Minister Arun Jaitley businesstoday.in/gst-fiscal.slippage NEWS The Fall of Brand Nirav Modi His jewels may be expensive, and his stores may be located in the priciest locations in the world, but all this is more to do with his money power and his personal relationship with celebrities businesstoday.in/brand-nirav.modi From in-flight Shutdowns to Aborted Take-offs, IndiGo's Troubles with P&W Engines Continue This is the second time in about a year when P&W's GTF engines…

1 min.
sending tremors

The $1.77 billion (₹11, 395 crore) fraud at Punjab National Bank (PNB) has set off alarms across the ₹141 lakh crore banking industry about risk management in a globally integrated scenario, where money transfers happen in seconds. Nirav Modi acquired multiple Letters of Undertaking (LoUs) from a branch of PNB, and then used those to get funds from overseas branches of other banks. Internal and external auditors have also played a questionable role for not flagging that Modi was habitually rolling over the LoUs for several years. After the Bangladesh Bank cyberheist two years ago when hackers used the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system to transfer $1 billion to American accounts, one would have expected PNB officials to be hypervigilant about transfers using SWIFT. In fact, the Reserve…

1 min.
sibling rivalry

STARTING next year, India is set to witness a Korean rivalry, between Hyundai and Kia, which is working out plans for an India foray. At this year's New Delhi Auto Expo, the South Korean stablemates faced many questions about each other. Hyundai is India’s second-largest carmaker. Since Hyundai has a controlling stake in Kia, questions about cannibalisation were expected. What if Hyundai and Kia undercut each other and ended up helping rivals such as Maruti Suzuki, Honda and Toyota? The answers were clichéd; each said it would have separate factories, offices and dealer networks. Yet, both have a common legacy, even joint platforms. The Kia Picanto hatchback is a Hyundai Grand i10 in another form. So too are the Kia Rio for Hyundai i20, Cerato for Elantra, Shortage for Tucson…

1 min.
big players chase bio-similars

THE COMPETITION to tap large molecule structured complex bio-similars or off-patent biotech drugs (that are similar but not identical to reference or originator biological products) is heating up. Industry experts predict that by 2020, biosimilars could generate $290 billion revenue and account for 27 per cent of the pharmaceutical market. The highest demand is for bio-similars for cancer and cardiovascular diseases. These are complex, difficult to make and need massive investments, unlike conventional chemically derived pharmaceutical drugs. What’s more, the chances of failure are high. The prohibitive cost of developing these drugs and clearing separate benchmarks for different countries has, meanwhile, made many Indian players partner with firms abroad to cover research costs. Recently, Lupin tied up with Japanese firm Yoshindo for a rheumatoid arthritis drug, a bio-similar for Etanercept…

1 min.
p&w's shutdown woes

IT’S BEEN A bumpy ride for aerospace engine maker Pratt and Whitney (P&W). After a series of engine glitches last year, the company was mired in another controversy recently over its PW1100G engine, which it claims took over 10 years and $10 billion to develop. Following instances of inflight engine shutdowns and aborted take-offs, the European agency, EASA, issued a directive to the carriers for restricting the use of PW1100G engines of a particular ‘faulty’ series on a single aircraft. India’s largest carrier by market share, IndiGo, has been hit badly as it was flying three such aircraft – these have been grounded for the time being. The matter, however, is of grave concern as the same class of engines is repeatedly throwing up safety issues. It is better that…