1973, 360-degree Reviews
Getting feedback from peers, managers, and underlings may be the scourge of time-strapped
managers. But when companies first adopted these reviews (DuPont was first in 1973), they
were seen as a leap ahead.
1987, Six Sigma
Invented at Motorola, the process, designed to reduce defects and increase efficiency, is most
associated with General Electric. Widely used today, the jargon-laden tool has been the butt
of recent jokes on TV sitcoms such as 30 Rock
While the practice of hiring outside tech services dates to the 1960s, outsourcing took root
later. In 1989, IBM landed a deal to manage Kodak's data-processing needs. By the 1990s,
much of that work started moving offshore.
Technically defined as a radical rethinking of processes, the fad was often associated with the
layoffs it spurred and with consultant Michael Hammer, who cited Ford in his 1990 article
―Reengineering Work: Don't Automate, Obliterate.‖
Open Innovation, 2000s
Many companies are ditching fears of ―not invented here.‖ Instead, they are buying or
licensing inventions and collaborating with companies and customers. Procter & Gamble
aims to capture half of its innovations from outsiders.
In 2000, Cisco (CSCO) Systems had the largest market cap in the world and more than
50% annual sales growth. Then the dot-com bubble burst and the networking giant's
stock dropped over 85% by September 2001.
CEO John Chambers set up a new hierarchy within the company.
―Councils‖ are teams of executives who make decisions on $10 billion opportunities.
―Boards‖ consist of executives who have authority to make calls on $1 billion bets, and
―working groups‖ are organized to deal with a specific issue for a limited period of time.
Cisco expanded into technology services as its Geek Squad tech support team.
The brainchild of Sanrio, the Hello Kitty character was officially born
November 1, 1974, in suburban London. According to her official
profile, she likes other ―small, cute things,‖ and weighs ―same as 3
Mark Zuckerberg is the world's youngest self-made billionaire.
Methuselah Foundation, which awards the Mprize to each successive research team
that breaks the record for the life span of a mouse
Daniel Goleman, author of the 1995 best seller ‗Emotional Intelligence', has authored a
Columbia Business School is doing a case study on the Indian Premier League (IPL).
Ruyan — which means ―like smoking‖ in Chinese — introduced the world's
first electronic cigarette in 2004
M. S. Dhoni is launching a D7 collection along with Reebok
‗Only in a Woman's World' is a marketing initiative of PepsiCo brand Frito-Lay to roll
out a portfolio of products developed specifically with women in mind.
Dubai real estate giant Emaar and Bollywood star Shah Rukh Khan (SRK) jointly own
a high street retail distribution company Aryan Lifestyle.
South African company Nicholls & Steyn Associates was hired to look
after player security at the 2008 edition of Indian Premier League (IPL).
Dr Pepper is a brand known as the creator of the most ill-advised giveaway ever. The
soft drink brand made an ill-fated bet with all Americans: If reclusive vocalist Axl Rose
of Guns N' Roses band ever came out of the recording studio with the band's foreverdeferred
album, Chinese Democracy, every citizen gets a free Dr Pepper. The album
actually came out after few months. Dr Pepper's make-good took the form of coupons,
but the redemption window was tiny and the Web site that dispensed them crashed
Surround sound was invented by Peter Scheiber back in the late seventies. At that time,
Dolby Labs leased Peter Scheiber's patent for use in theaters. Dolby claimed it was theirs,
but still pays royalties to Mr. Scheiber.
Cruise control (sometimes known as speed control or autocruise) is a system that
automatically controls the speed of a motor vehicle. The system takes over the throttle of
the car to maintain a steady speed as set by the driver. Modern cruise control (also known
as a speedostat) was invented in 1945 by the blind inventor and mechanical engineer
Ralph Teetor. His idea was born out of the frustration of riding in a car driven by his
lawyer, who kept speeding up and slowing down as he talked. The first car with Teetor's
system was the Chrysler Imperial in 1958.
In 1860, Benjamin Franklin Sturtevant invented the first exhaust fan that
he installed in his Boston shop when the fine wood dust from his wood turner
disturbed his employees.
Ingersoll Rand is known for its brands, such as Club Car golf cars, Schlage
locks and Trane air conditioning systems and services.
World Sport Group is a Singapore-based joint venture between
News Corporation and the Nine Network. In 2008, it was awarded
the global broadcasting rights to the Indian Premier League jointly
with the Sony Group.
Marico Industries product Saffola Zest is marketed as a baked alternative to fried
Hero Honda's scooter named Pleasure was promoted as a scooter for women. ―Why
should boys have all the fun,‖ says the punch line.
Wheel of Fortune is an American television game show created by Merv Griffin. Three
contestants (occasionally three pairs of contestants) compete against each other to solve a
FACT, India's first large scale fertiliser unit was set up in 1943.
In 1947, FACT Udyogamandal started production of Ammonium
Sulphate with an installed capacity of 10,000 MT Nitrogen.
Liverpool's Hope University has launched a Master's degree program exploring how
Liverpool helped shape the music of Beatles Group.
Southwest Airlines ran an advertising campaign featuring bikini-clad models on the
sides of their planes
Appropriate Rural Technology Institute (ARTI), Pune is known for its charcoal based
Sarai cooker–a non-pressurised steam cooker that can cook meal for 4-5 in 45 minutes
using 100 gm of charcoal.
EmaarMGF is the developer for the troubled Commonwealth Games project in Delhi.
The Drudge Report, a news aggregation website run by Matt Drudge, is most famous
for being the first news source to break the Bill Clinton-Monica Lewinsky scandal to the
public after Newsweek decided not to publish the story.
A freelancer, freelance worker, or freelance is a self-employed person who pursues a
profession without a long-term commitment to any particular employer. The term
―freelance‖ was first coined by Sir Walter Scott (1771–1832) in his well-known
historical romance Ivanhoe to describe a ―medieval mercenary warrior‖ (or ‗freelance').
The Corporate Service Corps program of IBM aims to turn employees into global
citizens. Last year, IBM selected 300 top management prospects out of 5,400 applicants.
It then trained and dispatched them to emerging markets for a month in groups of 8 to 10
to help solve economic and social problems. BluePages is the Web-based directory for
Accenture (ACN) has developed a Facebook-style program called Performance
Multiplier in which, among other things, employees post status updates, photos, and two
or three weekly goals that can be viewed by fellow staffers.
Nikkei 225 is a stock market index for the Tokyo Stock Exchange (TSE). It has been
calculated daily by the Nihon Keizai Shimbun (Nikkei) newspaper since 1950.
Former RBI Governor Bimal Jalan and other publicspirited
individuals have set up a Public Interest
Foundation, which is leading a pre-election campaign
to keep criminals out of politics.
Vijay Mallya paid $1.8 million for a pair of glasses, a 1910 silver Zenith pocket watch,
sandals, a bowl, a thali and letters of authenticity belonging to Mahatma Gandhi
The Jharkhand Agency for Promotion of Information Technology in association with the
National Informatics Centre has launched the e-Nagrik service in Ranchi.
Bihar has launched the e-Shakti project that will introduce contactless smart cards for
workers registered with the National Rural Employment Guarantee
Sonia, Shah Rukh among 50 most powerful
Famous as well as the infamous find mention in the Newsweek list
Congress president Sonia Gandhi and Bollywood superstar Shah Rukh Khan have been ranked among the 50
most powerful people in the world by the Newsweek magazine. President-elect Barack Obama topped the list.
Placing Sonia Gandhi at the 17th spot, the magazine said: "Although India's political scene is riven by factions,
Congress remains the strongest national force, and the Italian-born wife of Rajiv Gandhi rules it unchallenged. In
the world's largest democracy, she's queen." Shah Rukh Khan, ranked 41st, was described as the "King of
Pakistan army chief Ashfaq Parvez Kayani, who controlled the country's nuclear weapons, was placed 20th on
the list of the global "power elite" at the beginning of 2009 in the magazine's January issue.
Obama, who scripted history by becoming the first black-American to be voted to the White House, was followed
by Chinese President Hu Jintao, French President Nicolas Sarkozy, British Prime Minister Gordon Brown,
German Chancellor Angela Markel and Russian Prime Minister Vladimir Putin.
A surprise inclusion, which the magazine admitted was subjective, was Osama Bin Laden, termed a "global
terrorist." North Korean dictator Jim Jong II also found a place. About 47-year-old Obama, the magazine said the
Democrat would be judged on how he handled the economic crisis that now enveloped the U.S.
Others on the list include the Dalai Lama, the former U.S. president, Bill Clinton and his wife Hillary, Iranian
strongman Ayatollah Ali Khemenei, Saudi King Abdullah-bin-Abdul Aziz-al Saud, American General David
Petraeus, Iraqi leader Nouri al-Maliki, U.S. House Speaker Nancy Pelosi, New York mayor Michael Bloomberg,
Pope Benedict XVI, media mogul Rupert Murdoch and popular show host Oprah Winfrey.
Thaksin's allies booted out in Thailand
Anti-Thaksin alliance's candidate is the new PM
Thailand's Constitutional Court unseated politically beleaguered Prime Minister Somchai Wongsawat by ordering
that his People's Power Party be disbanded for electoral fraud. Somchai stands disqualified for elective office for
With this, the Court in Bangkok has disqualified both leaders to become Prime Minister since the "restoration of
democracy" earlier this year under a Constitution that was crafted by coup masters and approved in a
"referendum." The Army had toppled Thaksin Shinawatra, a twice-elected leader, in September 2006.
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Somchai and his predecessor, Samak Sundaravej, are seen by their critics as "proxies" for Thaksin, now in exile
as a "fugitive" after his recent conviction in a case of "conflict of interest" relating to his tenure as Prime Minister.
The Court held that the disqualification of any member of a party for poll irregularities of any kind would warrant
the dissolution of the party itself under the present Constitution, according to diplomats and independent
observers. It was not Somchai but his associate who was found guilty of electoral malpractice.
The Court's ruling, amid escalation of unrest against the Somchai Government, was greeted with enthusiasm by
the protesters with diverse interests, banded as the "People's Alliance for Democracy" (PAD).
Meanwhile, Thailand's House of Representatives have elected 44-year-old Abhisit Vejjajiva of the opposition
Democrat Party as the country's youngest Prime Minister. The parliamentary vote in Bangkok was widely seen
as an exercise to end a prolonged political crisis over the popular appeal of Thaksin Shinawatra, the militarydeposed
leader in self-imposed exile. The pro-Thaksin United Front of Democracy against Dictatorship has
vowed to oppose Vejjajiva's appointment.
Abhisit, seen by his critics as the military's "proxy"," is supported by the anti-Thaksin People's Alliance for
Democracy, which recently seized the Bangkok international airport for several days and occupied the
Government House compound for over three months.
China, Taiwan set up direct links
Beijing, Taipei begin transport, mail services
China and Taiwan started direct air and sea transport and postal services recently, a historical step in cross-
Strait relations. Formerly, air and sea movements, including mail, had to go by way of a third place. The flight
time from Shanghai to Taipei has been cut by more than one hour, to 80 minutes, as planes are no longer
required to fly through Hong Kong's airspace, a detour that the Taiwan authorities formerly insisted on citing
The start of direct flights marked a key step in the peaceful development of cross-Strait relations. The two sides
also agreed to launch regular passenger charter flights, which formerly only flew on weekends and the four major
The two countries have also started direct shipping and postal services across the Taiwan Straits. Under the
agreement on direct shipping, passenger and cargo vessels owned by China and Taiwan may sail directly across
the Taiwan Straits subject to official approval.
Bush visits Baghdad to sign security pact
Status of Forces Agreement will govern US troops in Iraq
U.S. President George W. Bush made a surprise farewell visit to Baghdad recently, five weeks before he hands
over the task of overseeing the withdrawal from Iraq to his successor Barack Obama.. Bush met his Iraqi
counterpart Jalal Talabani at the start of his fourth visit since U.S.-led troops toppled Saddam Hussein's regime
in April 2003 during a deeply unpopular war.
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His visit comes hot on the heels of a trip to Iraq by U.S. Defence Secretary Robert Gates, who said the U.S.
mission in the country was in its "endgame."
Bush met Prime Minister Nuri al-Maliki and the two signed a ceremonial pact marking the adoption of an Iraq-
U.S. security pact, which calls for the withdrawal of all U.S. troops by the end of 2011. Iraq's Parliament in
November approved — after months of intense political wrangling — the Status of Forces Agreement (SOFA),
which also sets June 30 as the deadline for the pullout of combat forces from cities and villages. The pact will
govern the presence of 1,46,000 U.S. troops stationed in more than 400 bases when their U.N. mandate expires
at the end of the year, giving the Iraqi government veto power over virtually all of their operations.
The top U.S. commander in Iraq, General Raymond Odierno, said that U.S. troops would stay in Iraqi cities in a
support and training role even after the June target date for their withdrawal. As part of political bargaining
leading up to the vote, Iraq agreed to demands by Sunni parties to hold a referendum on the accord no later than
Obama has said he favours "a responsible withdrawal from Iraq" within 16 months after taking office. While the
security situation in Baghdad and other parts of the country has significantly improved, violence remains a major
factor in Iraq's everyday life. More than 4,200 U.S. troops and tens of thousands of Iraqi soldiers have been killed
in the country since the invasion. Problems continue to dog the massive economic reconstruction programme
undertaken since the 2003 invasion.
The New York Times reported on Sunday that an unpublished U.S. government report had found that U.S.-led
efforts to rebuild Iraq were crippled by bureaucratic turf wars, violence and ignorance of the basic elements of
Iraqi society, resulting in a $100-billion failure. It cited a 513-page federal history of the reconstruction effort
circulating in Washington in draft form among a tight circle of technical reviewers, policy experts and senior
Harold Pinter passes away
The Nobel Prize winner created a distinct genre of playwriting
Harold Pinter, the Nobel Prize-winning British playwright, passed away at the age of 78. Pinter, whose plays
were famously punctuated with long silences, had the distinction of spawning a distinct genre of playwriting which
came to be known as "Pinteresque"–a term that became part of the English vocabulary and was included in the
Oxford English Dictionary. Author of more than 30 plays—the best-known among them being "The Caretaker"
and "The Homecoming" — he also wrote film scripts including that of 'The French Lieutenant's Woman'.
Pinter was a passionate advocate of unilateral nuclear disarmament and a bitter critic of U.S. involvement in
Central and South America. As a young man, he became a conscientious objector and was fined for refusing to
undergo National Service in 1949. Later, he was to turn down knighthood though he accepted a string of other
Pinter started off as an actor under the stage name David Baron. His first triumph as a playwright came in 1957
when his play "The Room" was hailed as marking the start of a new era in British theatre. His long career as a
playwright, poet and film writer was marked as much by praise as by controversies mostly relating to his political
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Sir Robert Alexander Watson-Watt is considered by many to be the 'inventor of radar'. Radar
development was first started elsewhere, but Watson-Watt worked on some of the first workable radar
systems, turning the theory into one of the most important war-winning weapons.
The predecessor of Columbia Pictures, Cohn-Brandt-Cohn Film Sales, was founded in 1919 by Harry
Cohn, his brother Jack Cohn, and Joe Brandt.
The Chrysler Building was designed by architect William Van Alen to house the Chrysler Corporation. It
was the world's tallest building for 11 months before it was surpassed by the Empire State Building in
1931. However, the Chrysler Building remains the world's tallest brick building.
Rockefeller Center was named after John D. Rockefeller, Jr., who leased the space from Columbia
University in 1928 and developed it from 1930. Rockefeller initially planned a syndicate to build an opera
house for the Metropolitan Opera on the site, but changed his mind after the stock market crash of 1929
and the withdrawal of the Metropolitan from the project. The centerpiece of Rockefeller Center is the 70-floor
266 metre high GE Building—formerly known as the RCA Building. The building was renamed in the 1980s
after General Electric (GE) re-acquired RCA, which it helped found in 1919.
The Empire State Building was financed primarily by Pierre S. du Pont.
De La Rue is the world's largest commercial security printer and papermaker, involved in the production of
over 150 national currencies and a wide range of security documents such as passports, authentication
labels and fiscal stamps.
De La Rue plc is a British security printing, papermaking and cash-handling systems company
headquartered in Hampshire.
The Company was founded by Thomas de la Rue who set up in business as a
stationer and printer in London in 1821. In 1831 his business secured a Royal Warrant
to produce playing cards, in 1855 it started printing postage stamps and in 1860 it
began printing banknotes. In 2003 the Company acquired the banknote printing
operations of the Bank of England.
Bayer registered Aspirin as a trademark in 1899. However, the German company lost the right to use the
trademark in many countries as the Allies seized and resold its foreign assets after World War I. The right to
use 'Aspirin' in the United States (along with all other Bayer trademarks) was purchased from the U.S.
government by Sterling Drug in 1918
The Prince of Wales Bhumi Vardaan Foundation, with Prince Charles as its chief patron, began
manufacturing organic tea bags in India.
Coca-Cola and L'Oreal are teaming up to create a nutraceutical beverage called Lumaé, a tea-based
ready-to-drink beverage that will contain ingredients that can help women care for their skin.
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Brand Icon: Xerox
Xerox can trace its roots to 1906, when a photography-paper business named The Haloid Company was
established in Rochester, New York.
In 1935 Haloid bought the Rectigraph Company, a photocopying machine manufacturer that used Haloid's
paper. Selling Rectigraphs became an important part of Haloid's business.
In 1947 Haloid entered into an agreement with Battelle Memorial Institute, a nonprofit research
organization to produce a machine based on a new process called xerography.
Xerography was the invention of Chester Carlson who became a patent lawyer
Carlson in 1938 invented a method of transferring images from one piece of paper to another using static
In 1973, Xerox PARC created the Xerox Alto a small minicomputer. The Alto was never commercially sold,
as Xerox itself could not see the sales potential of it.
In 1979, several Apple Computer employees, including Steve Jobs, visited Xerox PARC and the others saw
the commercial potential of the GUI and mouse, and began development of the Apple Lisa, which Apple
introduced in 1983.
The first laser printer was produced by Xerox in 1977 when researcher Gary Starkweather modified a
Xerox copier in 1971
In 1981 Xerox released the Memorywriter typewriter
In 1981, Xerox PARC developed a workstation called Xerox Star
which despite its technological breakthroughs, did not sell well due to its
Brand Icon: Sanyo Electric Co
Sanyo was founded by Toshio Iue, the brother-in-law of Konosuke
Matsushita and also a former Matsushita employee.
The company's name means three oceans in Japanese, referring to the
founder's ambition to sell their products worldwide, across the Atlantic,
Pacific and Indian oceans.
Sanyo got its start as a manufacturer of bicycle lamps. In 1952 it made
Japan's first plastic radio and in 1954 Japan's first pulsator-type washing machine.
Fisher Electronics is a Sanyo US subsidiary.
Sanyo Electric produced solar modules worth $213 million
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Brand Icons: Walgreens
• Walgreen is a pharmacy chain with operations in US and Puerto Rico.
• Select stores now include Walgreens TakeCare Health Clinics staff diagnose, treat,
and prescribe for common illnesses and also issue vaccinations
Brand Icons: Fujitsu
Fujitsu is a Japanese company specializing in semiconductors, telecommunications, and services. The
slogan is "The possibilities are infinite"
The company was established in 1935 under the name Fuji Tsūshinki Seizō (Fuji Telecommunications
Equipment Manufacturing), a spin-off of the Fuji Electric Company
Fuji Electric Company was a joint venture between the Furukawa Electric Company and German
conglomerate Siemens founded in 1923
In 1954 Fujitsu manufactured Japan's first computer, the FACOM 100
The active partnership with Siemens AG was revived in 1999 in the form of Fujitsu Siemens Computers,
owned 50/50 by Fujitsu and Siemens.
In 1992, Fujitsu introduced the world's first 21-inch full-colour display
Product lines: LifeBook notebook computers.
Servers SPARC Enterprise, PRIMEPOWER, PRIMEQUEST, PRIMERGY, ETERNUS storage for
In the movie 'Back to the Future Part II' the writers thought by 2015 most companies would be owned by
Japan. In 2015, Marty's employer is Fujitsu, and he is fired by company owner Ito Fujitsu.
Brand Icons: Vodafone
The name Vodafone comes from 'voice data fone', chosen by the company to 'reflect the provision of voice
and data services over mobile phones.'
In 1985 Racal Electronics launched Vodafone
1991: Racal Telecom was demerged from Racal Electronics as Vodafone Group
1999: Vodafone purchased AirTouch Communications, Inc. and changed its name to Vodafone AirTouch
plc. The acquisition gave Vodafone a 35% share of Mannesmann, the largest German mobile network.
1999: Vodafone merged its U.S. wireless assets with those of Bell Atlantic Corp to form Verizon Wireless
2000: Mannesmann, which had purchased Orange (UK mobile operator), was acquired by Vodafone
2000: Reverts to its former name, Vodafone Group Pl
Target Corporation, headquartered in Minneapolis, Minnesota, is the fifth largest
retailer by sales revenue in the US behind Wal-Mart, The Home Depot, Kroger and
1902: George D. Dayton opens Goodfellows in downtown Minneapolis.
1962: The Dayton Company enters discount merchandising with the opening of its
first Target Store.
1969: With the merger of the Dayton Corporation and the J. L. Hudson
Company, the Dayton Hudson Corporation was born.
1995: Target launched Club Wedd® bridal registry and Lullaby Club® baby gift registry
2000: The Dayton Hudson Corporation is renamed Target Corporation.
2005: Target introduced a major revision of prescription bottles, which it calls the ClearRx system
2006: In 2006, Target completed construction of the Robert J. Ulrich Center in Embassy Golf Links in
Pfizer was founded by cousins Charles Pfizer and Charles Erhart in 1849
Their first product is a palatable form of santonin — an antiparasitic used to treat intestinal worms, a
common affliction in mid-19th century America.
CHANTIX™, a prescription medicine to help people quit smoking
2000: Pfizer and Warner-Lambert merge to form the new Pfizer.
2003. Pfizer Inc and Pharmacia Corporation began operating as a unified company
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Sharp Corporation is a Japanese electronics manufacturer, founded in 1912. It takes its name from one of its
founder's first inventions, the Ever-Sharp mechanical pencil, which was invented by Tokuji Hayakawa in
1912: Tokuji Hayakawa came up with the idea for a buckle for Western style pant belts after seeing movie
of people with their belts tied and the ends hanging down in front. This smart-looking buckle, which
Hayakawa called the Tokubijo, allowed the user to adjust the belt length, even if
there were no holes. He received a patent for his invention and started a
company to make produce these buckles
1915: Tokuji Hayakawa invented a pencil that uses replaceable lead cores to
stay sharp all the time. The product was called the Ever-Sharp Pencil, and later
shortened to just Sharp pencil.
1925: First Japan-made radio
1953: First Japan-made TV
1964: World's first electronic calculator
2005: Expanding solar cell production capacity. Sharp's solar cell production capacity in 2005 was the
world's highest for the sixth year in a row, and Sharp was highly rated as a leading environmental company.
"Make products that others want to imitate" is the autobiography of Tokuji Hayakawa
Mitsubishi is the family business of the House of Iwasaki. Its founder, Yataro Iwasaki, was born in 1834, a
peasant who purchased samurai status with the help of relatives.
1941: While Mitsubishi Shipbuilding turned out warships, the aircraft division of
Mitsubishi Heavy Industries manufactured over 18,000 warplanes, the most
important of which was the "Zero." The simple technology of the Zero made it
possible for thousands to be built quickly. Its vast numbers and ability to climb and accelerate made it one of
the most formidable weapons of the war.
In the late 1970's Mitsubishi established a joint marketing agreement with the Chrysler Corporation to sell
cars in the US built by the Mitsubishi Motor Company.
In 1985 Mitsubishi Motors increased its cooperation with Chrysler Corp. through the creation of Diamond-
Star Motors. In 1989 and 1990, Mitsubishi Estate Co. acquired a controlling interest in Rockefeller Center
at a cost of nearly $1 billion.
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In 1990, the company's Mitsubishi Motors moved to form a joint venture with German automaker Daimler-
Benz and acquired one-third of Volvo the following year.
In 1996, the Living Essentials Group was established by amalgamating the Foods Group, and Textiles &
General Merchandise Group.
• Up to 1988, France Télécom was known as the Direction Générale des Télécommunications, a division
of the Ministry of Posts and Telecommunications.
• It was privatized by Lionel Jospin's government in 1998
• In 1999, Mannesmann AG of Germany acquired Orange plc
• At the same time, Mannesmann itself was bought by Vodafone, a deal approved
by the European Commission on the condition that Vodafone divest Orange.
• In August 2000, France Télécom acquired Orange from Vodafone for € 36 billion
In 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc.
In 2007, a spin out of Kraft Foods subsidiary was concluded. Altria no longer holds any interest in Kraft
John Middleton, Inc: In 2007, Altria completed its $2.9 billion acquisition of John Middleton, Inc., a
leading manufacturer of machine-made large cigars, from privately held Bradford Holdings, Inc. The
Black & Mild brand is the second-largest selling machine-made large cigar in the U.S. John Middleton,
Inc. was founded in 1856.
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Philip Morris component
Altria's tobacco subsidiary, Philip Morris, is the world's largest commercial tobacco company by sales.
Philip Morris was founded by a London tobacconist of the same name. He was one of the first people
to sell hand-rolled cigarettes in the 1860s, selling them under the brand names Oxford and Cambridge
The company opened its New York office in 1902 and soon became part of James Duke's American
Tobacco Company monopoly.
1951: Philip Morris becomes the highly visible sponsor of CBS's "I Love Lucy" TV Show.
1969: Philip Morris Inc. acquired Miller Brewing Company from W.R. Grace and Company
1988: Philip Morris acquired Kraft Foods.
2000: Philip Morris merges Nabisco, a spin-off from RJR Nabisco, into Kraft Foods.
2001: Philip Morris sold Miller Brewing Company to South African Breweries, retaining a 36% share.
Philip Morris brands:
Alpine, Basic, Benson & Hedges, Best, Bond Street, Bristol, Bucks, Cambridge, Chesterfield, Classic, Collector's
Choice, Commander, English Ovals, Lark, L&M, Marlboro, Merit, Morava, Next, Parliament, Players, Saratoga,
Virginia Slims & West
Toshiba was founded by Hisashige Tanaka and Ichisuke Fujioka, who was called the Thomas Edison of his
country. Toshiba acquired nuclear power producer Westinghouse Electric Company in 2006.
Laptops: Satellite, Tecra, Portege, Qosmio; MP3 player: gigabeat
First automatic zip code reader (1967)
First laptop personal computer (1985)
First colour monitor in a laptop (1991)
First laptop with a CD-ROM drive (1995)
First laptop with a DVD drive (1997)
First wireless laptop with Internet and e-mail (2001)
First Quad-core cell based processor (2008)
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Toshiba's founder, Hisashige Tanaka performed at a local shrine festival with clockwork dolls (Karakuri
mechanical dolls) he constructed himself, his technical wizardry establishing him as an itinerant
Early inventions include, Mujin-to rapeseed-oil lamp and Man-nen Jimeisho traditional Japanese-style
Tanaka Engineering Works–the business started by Hisashige became known as Shibaura Engineering
Toshiba's other founder, Ichisuke Fujioka, visited the US in 1884and pledged Thomas Edison to devote
himself to establishing a Japanese electric power industry.
In 1886, at Ichisuke's recommendation, Tokyo Incandescent Light Bulb Manufacturing Co; predecessor
of Tokyo Electric, opened for business. Japan had entered the age of electricity.
Colgate-Palmolive Company markets soaps, detergents, and
oral hygiene products (including toothpaste and toothbrushes).
Under its "Hill's" brand, it is also a manufacturer of veterinary
In 1806, soap and candle maker William Colgate opened up a
starch, soap, and candle factory on Dutch Street in New York
City under the name of 'William Colgate & Company'.
In 1872, Colgate introduced Cashmere Bouquet, a perfumed
soap. In 1873, the firm introduced its first toothpaste, an
aromatic toothpaste sold in jars
The first toothpaste in a tube, Colgate Ribbon Dental Cream, was introduced in 1896
In Milwaukee, Wisconsin, the B.J. Johnson Company was making a soap entirely of palm and olive oil, the
formula of which was developed by B.J. Johnson in 1898. The soap was popular enough to rename their
company after it – 'Palmolive'.
A Kansas based soap manufacturer known as the Peet Brothers merged with Palmolive to become
In 1928, Palmolive-Peet bought the Colgate Company to create the Colgate-Palmolive-Peet Company. In
1953 "Peet" was dropped from the title, leaving only 'Colgate-Palmolive Company', the current name.
Today, Colgate has numerous subsidiary
organisations spanning 200 countries, but it is
publicly listed in only two, the United States
In 1890, Madison University in New York State
was re-named Colgate University in honor of
the Colgate family following decades of financial
support and involvement.
The Colgate-Palmolive Company sponsors an annual non-profit track meet open to women of all ages–the
Colgate Women's Games held at Brooklyn's Pratt Institute. Finalists compete for trophies and
educational grants-in-aid from Colgate-Palmolive Company at New York City's Madison Square Garden.
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Mennen is now a brand of the Colgate-Palmolive Company. Its most notable product, Mennen Speed Stick,
with its fougere perfume and green wide stick, was the market leader among deodorants and antiperspirants
for men for many years.
William Mennen introduced the first American shaving
cream tube in 1912.
In 1939, Dr. Mark L. Morris developed a pet food to help
save a guide dog named Buddy from kidney disease. This
breakthrough leads to the first Hill's Prescription Diet
In 1985, antibacterial protection Protex bar soap was introduced.
In 1996, Colgate launched 'Bright Smiles, Bright Futures' oral health education program that now reaches
over 50 million children annually
Colgate® Smile Talk is the e-newsletter from Colgate
Kids Toothpastes: Dora the Explorer, SpongeBob SquarePants, Shrek Bubble Fruit. Shrek is a
registered trademark of DreamWorks Animation. Dora the Explorer & SpongeBob SquarePants are
trademarks owned by Viacom
Sparkling White toothpastes: Mint Zing, CinnaMint, Caribbean Cool
Colgate Bratz battery-powered character toothbrushes–Chloe, Yasmin, and Fianna
Personal care brands
Lady Speed Stick
Home care brands
Murphy oil soap
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Friar John Cor is the name of the friar who recorded the first known written reference to a batch of
Scotch whisky on June 1, 1494.
He paid duty on "eight Bols of malt wherewith to make Aqua Vitae for
King James IV"; enough to make him about 1,500 bottles of whisky.
Stella Artois is a lager first brewed in Leuven, Belgium in 1926 as a
Christmas brew, and named Stella after the Latin for "star".
The first recorded history of Stella Artois begins in 1366, when
records of taxes exist on Leuven's Den Horen Brewery, a brewery
that is still in existence today.
In 1708, Sebastian Artois became the master brewer at Den Horen, and gave his name to the brewery in
Reinheitsgebot–the German beer purity law of 1516 mandated that beer could contain only four
ingredients: barley, yeast, hops, water. In 1987 it was struck down by European Union for restricting trade.
In the late eighteenth century, Johann Jacob Schweppe, a German watchmaker and amateur scientist,
developed a process to manufacture carbonated mineral water. He founded the Schweppes Company in
Geneva in 1783.
Marchesi Antinori Srl is an Italian wine company that can trace its
history back to 1385 when Giovanni di Piero Antinori joined the
Guild of Winemakers (Arte Fiorentina dei Vinattieri), this is the
date usually taken as the start of the wine business, although it was
only incorporated in 1898, as "Fattoria dei Marchesi Lodovico e Piero
Antinori". The Antinori family has been making wine for over six
hundred years, throughout its long history, spanning 26 generations.
The Glenlivet distillery, the oldest legal distillery in Scotland also
known as "The single malt that started it all", was founded by George Smith in 1830s. Smith, who was
operating an illicit distillery at the time, became the first person to apply for and receive a license to legally
The concept of fair trade labeling, which guarantees coffee growers a negotiated pre-harvest price, began
with the Max Havelaar Foundation's labelling program in the Netherlands.
In 1888, Swiss brew master Joseph Villiger established Brahma brewery in Rio de Janeiro
Maxwell House is a brand of coffee manufactured by Kraft Foods. It is named in honor of the Maxwell
House Hotel in Nashville, Tennessee.
The company recently unveiled its new slogan, "It's A New Morning. Brew Some Good." The coffee was
provided to the hotel beginning in 1892 by local manufacturers, Leon T. Cheek and Joel Owsley Cheek,
who developed the blend.
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Folgers is manufactured by The J.M. Smucker Co.
In 1888, Marvin C. Stone, of Washington, DC, received a patent for an "Artificial Straw", first wax drinking
straw to replace use of natural rye grass straws.
William Painter received a patent for a 'Bottling-Machine'.
Pacific Coast Condensed Milk Company registered the "Carnation" trademark in 1900.
Swiss chemist, Dr. George Wander, invented Ovomaltine (Ovo-maltine name derived from two main
ingredients: eggs and malt), later known as Ovaltine, in 1904.
Typhoo is a brand of tea launched in 1903 by John Sumner Jr. of Birmingham, England. In 2005, the
Indian company Apeejay Surrendra Group purchased the brands for £80 million from Premier Foods and
created The Typhoo Tea Company.
Johan Martinius Thoresen, a Norwegian (who later adopted the name William Copeland) who immigrated
to Yokohama in 1864, opened the Spring Valley Brewery. By 1888, all of its beer carried the "Kirin" label.
Kirin Brewery is currently owned by Mitsubishi group of companies.
E. & J. Gallo Winery was founded by brothers Ernest and Julio Gallo and is the largest exporter of
In 1934, A. W. Leo, Tom Yates and Ralph Harrison developed first Hawaiian Punch recipe.
Ruth Campbell Bigelow founded R.C. Bigelow, Inc. to produce quality teas in Fairfield, Cincinnati in 1945,
is famous for its flagship brand–Constant Comment Tea (sample tea shared with family, friends,
acquaintances caused 'constant comments').
Antillean Brewery, maker of Amstel beer, opened in 1958.
In 1962, First International Coffee Agreement (ICA) between coffee-producing countries negotiated in New
York at Conference held under auspices of United Nations. The agreement contained provisions for
application of quota system whereby supplies of coffee in excess of consumer requirements withheld from
market; production and diversification policies initiated to limit supplies of coffee, promotion activities
instituted to increase consumption.
Leonard Marsh, Hyman Golden and Arnold Greenberg owned Unadulterated Food Corporation,
launched the carbonated apple soda brand "Snapple" in 1972.
Coca-Cola introduced New Coke with the slogan "The Best Just Got Better" in 1985.
In 1949, Procter & Gamble registered 'Spic and Span' trademark (soluble cleaner, cleanser, and detergent)
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Joseph Bramah is an inventor known for having invented the Flushing toilet (1778), Bramah Lock (1784),
Beer pump (1785) and Hydraulic press (1796). Bramah started the Bramah Locks Company at 124
Piccadilly, London which still operates today. The locks produced by his company were famed for their
resistance to lock picking and tampering.
The company famously had a "Challenge Lock" which was displayed in the window of their London shop
from 1790 mounted on a board containing the inscription:–"The artist who can make an instrument that will
pick or open this lock shall receive 200 guineas the moment it is produced."
The challenge stood for over 67 years until it was broken at the Great Exhibition of 1851. An American
locksmith by the name of Alfred Charles Hobbs was able to open the lock and was
awarded the prize.
BitTorrent, Inc., an American corporation that develops peer-assisted Internet content
delivery technology based on the BitTorrent protocol, was founded in 2004 by Bram
Cohen and Ashwin Navin.
Australian cricketer and former Pakistan coach Bob Woolmer's first job was as a sales representative at ICI
The Laureus World Sports Awards were established
in 1999 by founding patrons Daimler and Richemont
and is supported by its Global Partners Mercedes-
Benz, IWC Schaffhausen (watchmaker) and
Master tailor Nazareno Fonticoli and his business partner Gaetano Savini opened their first suit shop in
Rome's Via Barberini at the end of World War II. The company was named 'Brioni' after the resort on the
coast of the Adriatic Sea, which is now called Brijuni in Croatia.
In 1901, King Camp Gillette, traveling salesman for the Baltimore Seal Company and William Emery
Nickerson (MIT-trained inventor) founded American Safety Razor Company to sell razor blades. In 1902,
name changed to Gillette Safety Razor Company.
Lambert Pharmaceutical Company registered the 'Listerine' trademark in 1903
In 1937, Shulton Inc., founded 1934 by William Lightfoot Schultz, registered
the trademark 'Old Spice'
Liz Claiborne Inc. is a fashion company founded in 1976 in New York City by
Liz Claiborne, Art Ortenberg and Leonard Boxer. Liz Claiborne Inc. went
public in 1981 and had made the Fortune 500 in 1986–the first company
founded by a woman to be listed in the Fortune 500.
The Nabisco logo, a diagonal ellipse with a series of antenna-like lines protruding from the top, is known as
the Leviathan Cross, and can be seen imprinted on Oreo wafers in addition to Nabisco product boxes and
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Henkel owns brands like, Persil washing powder, Spee washing powder, Vernel/Silan fabric softener,
Somat/Glist dishwasher tablets, Pril washing-up liquid, Schwarzkopf
haircare, Schauma shampoo, Fa shower gel and deodorant, Dial
shower and hand soap, Loctite and UniBond adhesives and
sealants, Pritt glue sticks and Duck industrial tape
In 1969, Henkel invented the glue stick under the Pritt Stick brand
after studying the 'twist-up ease' and convenience of lipstick
Persil is a brand of laundry detergent manufactured and marketed by
both Henkel in some countries and by Unilever in others.
Robert Bamford and Lionel Martin founded Bamford and Martin Ltd in London in 1913.
In 1914, Aston Martin name created after racing success at Aston Hill Climb.
Aston Martin DB5 appeared in 'Goldfinger' in 1981
In 2007, Ford sold controlling interest to group of investors (David Richards, John Sinders, Investment Dar,
Adeem Investment Co.) for $848 million.
Eau de Cologne
Eau de Cologne is a spirit-citrus perfume launched in Cologne in 1709 by Italian perfumer Giovanni Maria
Farina. When Farina composed the perfume, he said he wanted it to
have the odor of an Italian spring morning after the rain.
The Original Eau de Cologne was used only as a perfume, and
Napoleon was a particular enthusiast of the Farina Eau de Cologne.
Giovanni Maria Farina's formula has been produced in Cologne since
1709 by Farina gegenüber and to this day has remained a secret.
Farina's shop Farina gegenüber at Obenmarspforten opened in
1709 and is today the world's oldest fragrance company. The famous
Cologne 4711 is named after this location at the "Glockengasse No.
In 1806, Jean Marie Joseph Farina, a grandgrandnephew of Giovanni
Maria Farina opened the Paris perfumery business that developed into
Roger & Gallet, who owns the rights to Eau de Cologne extra vielle in contrast to the Original Eau de
Cologne from Cologne.
Eau de Cologne, or just "cologne", has now become a generic term. However, the original Eau de Cologne
from Cologne is not an Eau de cologne, but an Eau de toilette, because it contains more than 5% aromatic
In Eau de Cologne Impérial was introduced in 1853 and named His Majesty's Official Perfumer (France)
News in Brief: Business & Economy
The Mudra Group has launched a specialised unit for sports marketing called '10 integrated' that will offer
its clients a wide range of services including sports research, licensing & merchandising, celebrity
management consultancy and acquiring/creating sports related entertainment content for television and
State Bank of India has received the Reserve Bank of India's approval for the proposed joint venture
company with Societe Generale Securities Services (SGSS), for offering custodial services in India.
Pallab Sarkar of Hyderabad-based Mishra Dhatu Nigam Ltd (Midhani) has been awarded 'Metallurgist of
the Year 2008' in non-ferrous group by the Union Steel & Fertiliser Ministry.
FICCI has entered into 50:50 JV with American Society for Quality (ASQ) called FICCI-ASQ Foundation
for Innovation and Excellence.
Representative from reactor majors Hitachi Ltd, Mitsubishi Heavy Industries and Toshiba Corporation,
visited India for talks with Department of Atomic Energy recently. The three leading Japanese firms are
key members of global reactor manufacturing alliances that are in the fray for new Light Water Reactor
orders in India.
Hitachi has a global alliance with General Electric Co for the nuclear power plant and services businesses.
Mitsubishi Heavy Industries has a partnership with France's Areva. Toshiba had earlier taken over USreactor
manufacturer Westinghouse Electric's nuclear business.
Royal Philips Electronics has acquired Mumbai-based Meditronics, a manufacturer of general X-ray
systems. The Netherlands-based company is looking to shift a chunk of its R&D work to emerging markets.
A Delhi High Court judgment has directed Pepsico India to remove the picture of a "snow capped
mountain" from the packaging of its bottled water brand Aquafina. The objection was to the suggestion that
the packaged mineral water originated in the mountains. The court has also directed Pepsi to add the phrase
"as per BIS standard" to its label along with its "purity guaranteed" phrase.
The Reserve Bank of India has decided to allow foreign companies to pick up to 49% equity in Credit
Information Bureau under the Foreign Direct Investment (FDI) route.
Xerox India has showcased its five top-of-the-line office products in the printer category under the concept
'Colour-in-Office' with the promise of reducing the cost of colour prints by more than three-fourths.
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EID Parry acquired 48% stake in Valensa International, a company engaged in nutraceuticals based in
Tata Consultancy Services (TCS) has partnered with the Apparel Export Promotion Council (AEPC) in
order to develop IT solutions for the 11,000-member companies registered with the latter.
State Bank of India and Indian Oil Corporation have joined the Volvo Ocean Race India stopover team
as official banker and partner respectively.
Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, has launched a new e-commerce Web
portal called reliancemoneymall.com for a range of financial products.
Wal-Mart Stores Inc has selected Mike Duke (58) to succeed Lee Scott as President and Chief Executive
Officer, effective February 1, 2009. Scott will continue serving as Chairman of the executive committee of
Bajaj Entertainment Art Music Sports (BEAMS), a division of Bajaj International, is planning to acquire
television and radio channels to mark its entry into the media industry.
Dabur India Ltd has acquired a 72% stake in Fem Care Pharma Ltd (FCPL), a women's skin care products
company that owns brands such as Oxybleach cream, Botanica anti-ageing cream, Stratum colour
protecting hair conditioners, SAKA men's bleach and Bambi fabric softeners.
HCL Technologies has completed its mega-acquisition of UK-based SAP consulting company Axon Group
with a majority of Axon shareholders voting in favour of the Indian company's 650-pence a share offer. This
would mark the largest buy-out in the Indian IT industry – surpassing Wipro's $600-million acquisition of
Taj Television Ltd, owners of Ten Sports, has won the exclusive production and telecast rights for all
international cricket tours of Pakistan.
Chennai Super Kings, the Chennai franchise of the BCCI-IPL cricket team operated by India Cements,
has launched Kings Club, an official club membership programme. A membership would offer the benefits
of priority access to tickets and discounts for IPL home matches, discounts on team merchandise and photo
opportunities with the cricket players.
State Bank of India has entered into a joint venture with Insurance Australia Group (IAG) to enter the
general insurance market.
SBI already offers life insurance products through its subsidiary, SBI Life Insurance Company, which is a
joint venture between SBI and the French financial services major BNP Paribas.
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Chennai has displaced Mumbai as the most preferred destination for ITeS and BPO companies wanting
to set up delivery centres in India, according to a study done by Dun & Bradstreet.
Nokia India has unveiled its "Touch Music" device, the Nokia 5800 XpressMusic and announced the
scheduled launch of its Nokia Music Store.
Nokia Music Store, a part of the OVI, is an online music service that will deliver over a million tracks from
global hits to local artists and provide Indian consumers the freedom to enjoy music at their fingertips.
Salora Group promoted multi-brand retail format, Terminal, specialising in consumer durables, IT and
telecom products has launched digital LCD photo frames under the brand Pandigital.
Suzuki Motor Corporation is considering purchase of stake owned by Managing Director of Suzuki
Motorcycles India Ltd (SMIPL), Satya Sheel, in its Indian two-wheeler subsidiary.
Suzuki Motorcycles India has launched its premium bikes Hayabusa and Intruder priced at Rs 12.5 lakh
Sun Pharmaceutical Industries Ltd has acquired Chattem Chemicals Inc, a US-based narcotic substances
producer and importer, for an undisclosed amount.
Tata Steel subsidiary Corus has sold its 50% stake in GrantRail Group Ltd to VolkerWessels, its joint
Bharat Petroleum Corporation Ltd has signed a MoU with Airwings Services an agent of MoneyGram
International to offer international money transfer service in India from its select retail outlets.
The Rural Development Institute (RDI), an international non-profit organisation working to secure land
rights for the world's rural poor, has received a $6.7 million grant from the Bill & Melinda Gates
The grant will allow RDI to focus specifically on helping women in Orissa and West Bengal to obtain
ownership of small plots, and maximise the nutritional and income-producing potential of their land.
Department of Posts in partnership with Reliance Money has announced their move to sell 24-carat gold
coins in select India Post outlets.
Dr Jamshed J. Irani, Chairman of affirmative action council of the Confederation of Indian Industry (CII) and
Director, Tata Sons has suggested that the corporate sector should focus on enhancing employability of the
under-privileged as part of their affirmative action.
M. Vidyasagar, Executive Vice-President at TCS, has been named the recipient of the IEEE Control
Systems Award 2008 for his research in the field of control and systems theory.
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E&Y awards 2008
Anil Agarwal, Executive Chairman, Vedanta Resources, has been named the Ernst & Young
Entrepreneur of the Year 2008.
The Lifetime Achievement Award was conferred upon P.R.S. Oberoi, Chairman and CEO, The Oberoi
The Entrepreneur of the Year Infrastructure and Construction Award was presented to Jaiprakash
Gaur, Founder Chairman, Jaypee Group.
Gautam Thapar, Chairman and CEO, Avantha Group, was announced as the winner in the Manufacturing
The Award for the Start-Up Entrepreneur of the Year was given to Arvind Rao, CEO and Co-Founder,
The Services Category Award was given to Rohinton Screwvala, CEO of UTV Software
IT training company NIIT together with Adobe has announced the launch of its e-GURU Web and
multimedia curriculum for school students.
The e-GURU curriculum would cover the Adobe Creative Suite Master Collection– Photoshop, Illustrator,
Flash, Premiere, Encore, Soundbooth, AfterEffects, Fireworks and Dreamweaver.
The Whale Shark Day, a joint initiative of Tata Chemicals, Gujarat Forest Department and Wildlife Trust
of India — International Fund for Animal Welfare (WTI-IFAW), was organise in the presence of spiritual
guru Morari Bapu at Porbandar recently.
The whale shark was placed under Schedule One of the Indian Wildlife (Protection) Act, 1972. This
development was triggered by the award-winning documentary film, "Shores of Silence" by Mike Pandey.
State Bank of India has launched 'Grameen Shakti' – a micro insurance scheme for its Self Help Group
VE Commercial Vehicles, the joint venture between Eicher Motors and Swedish group AB Volvo, is
planning to cater to a complete range of mining application products.
Carborandum Universal (CUMI), part of Rs 9,582-crore Murugappa Group, entered in to an agreement
with Volgograd region administration in Russia to set up 100,000-tonne silicon carbide fusion plant.
Ashley Design and Engineering Services (ADES), part of the Hinduja Group's flagship company Ashok
Leyland, has been renamed as Defiance Technologies.
Ramanujam Sridhar has authored the book 'One Land, One Billion Minds' that was released recently.
American Express (AmEx), world's fourth-largest credit card issuer, has received a go ahead from the US
Federal Reserve to convert itself into a commercial bank.
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Antrix Corporation Ltd (part of ISRO), which globally markets Indian Remote Sensing (IRS) Satellite data
has been conferred the 'Mini-ratna' status by the Union government.
Asarco will collect a $50 million break-up fee following the decision by Sterlite Industries (India) to cancel a
$2.6 billion purchase of the bankrupt US copper producer.
SBI Life Insurance Co has launched its first group health insurance plan 'Criti9' for State Bank Group
Hewlett-Packard (HP) has unveiled three laptops-Intersect, Renewal and Intensity designed by famous
designer Vivienne Tam.
The UB Group will sell South African wines from Jonty Rhodes promoted 10 Chapter Pty in India.
The World Gold Council (WGC) has engaged HDFC Bank, to provide personal loans to gold buyers and
GC has also organised "Lucky Laxmi"–retail sales of gold jewellery items across the country.
US based Wyndham Group has tied up with Bangalore-based Royal Orchid Hotels to open 10 Ramada
hotels across the country.
Following its early success in Maharashtra, Thomson Reuters launched Reuters Market Light (RML) in
Trent Ltd, the flagship retail arm of the Tata group, has launched of its value format store 'Fashion Yatra'
Worsted suiting manufacturer Digjam has tied up with Scottish premium fabric manufacturer Holland and
Sherry (H&S) to retail its products in India. The top offering in the H&S range is the Vicuna Aymara fabric
that costs Rs 7.5 lakh a metre.
Bharatiya Janata Party member Babubhai K. Katara was expelled from the Lok Sabha after an inquiry
committee of the House held him guilty of "grave misconduct" for trying to illegally take two persons abroad
on passports belonging to his wife and son.
Microsoft unveiled a family of mouse devices in India. The Arc Mouse combines the functionality of a
desktop as well as a portable mouse. The Sidewinder X5 is a mouse for game consoles. The Explorer Mini
Mouse has allows the user to roll it over any kind of surface: a marble floor, a carpet, or a wooden table top.
International Monetary Fund (IMF) Managing Director Dominique Straus-Kahn (59) is under investigation
for nepotism and possible abuse of power. Kahn, who had an extramarital relationship with senior IMF
economist Piroska Nagy of Hungary, is accused of having helped her get a generous severance package
on her departure from the IMF