Billionaire Indian brothers to build cheaper rival to Slack

A teenage entrepreneur who became a millionaire by 20 before sharing a billion-dollar fortune at 36, Bhavin Turakhia isn’t afraid to think big. Now he’s putting $45 million of his own money into building a rival to Slack and other office messaging platforms.

Flock, a cloud-based team collaboration service, has attracted 25,000 enterprise users and customers including Tim Hortons, Whirlpool and Princeton University. It’s a market that has already drawn interest from global technology giants Facebook Inc, Inc and Microsoft Corp.

Saffola’s fitness campaign through a healthy heart

Saffola Oils from the stable of the $59 billion Marico Ltd, one of India’s leading consumer products group, seems well set to challenge the popular perception that ‘Being healthy is a daunting and difficult pursuit’ and seeks to encourage people to find their own individual ways of being fit and healthy, through its new brand campaign.

GST cess hike: SUVs, luxury cars set to become dearer

Mid-size, large cars, SUVs and luxury cars will sharply rise in the range of Rs 79,000 to Rs 1.16 lakh as the Union government on Wednesday approved a hike in goods and services tax (GST) cess on such vehicles to 25 per cent from 15 per cent. The increase in cess comes just when sales of big and luxury vehicles have started picking up in Asia’s third biggest car market.

Big B pads up for innerwear

Big B is now padding up for innerwear brand Venus and winterwear brand-Cott’swool-both from the stable of the BSE-listed LUX Industries Limited. The Kolkata-based company, which makes and sells more than 100 products across 12 major brands comprising a complete range of innerwear for men, women, and children, already has Varun Dhawan, the heartthrob of young India, as the brand ambassador of LUX Cozi.

Govt slaps Rs 32k cr notice on Hutchison for Vodafone deal

The income tax (I-T) department has sought Rs 32, 230 crore in tax, interest and penalty from Hong Kong-based Hutchison for alleged capital gains on $11 billion deal for sale of its mobile business in India to the UK’s Vodafone Group in 2007.

In a regulatory filing to Hong Kong stock exchange, CK Hutchison Holdings said its unit Hutchison Telecommunications International (HTIL) has been served with a tax demand of about Rs 7,900 crore along with an interest of Rs 16,430 crore and penalty of Rs 7,900 crore.

The company has disputed the claim of tax authorities.

Renault may launch Captur by Diwali

French auto major Renault is planning to do an encore of its runaway success with the Duster and the small car Kwid.

Its new premium SUV, the Captur, is slated for a Diwali launch.

Sumit Sawhney, managing director and chief executive of Renault India told PTI that the much-talked-about launch will take place in the December quarter, but refused to specify whether it could be a Diwali  offering or not.

The crossover SUV is also known as Kaptur in some global markets like Russia and Captur in Europe, which is based on the Clio's platform.

McDonald’s to limit antibiotics in chicken

McDonald’s says it will start globally rolling back use of antibiotics in its chicken products from 2018 as part of efforts to curb microbial resistance to drugs and the rise of superbugs.