Apple & Nokia see deeper partnership after ending patent dispute

Apple has settled a patent dispute with Finnish telecom equipment maker Nokia and agreed to buy more of its network products and services, sending Nokia shares up 7 per cent.
The deal means Nokia will get bigger royalties from Apple for using its mobile phone patents, helping offset the impact of waning demand for its mobile network hardware.
Such legal battles are common in the industry but can drag on for years and analysts had not been expecting such a quick resolution to the dispute that started in December.

Govt allows Tesla to manufacture in India without local sourcing

The government on Tuesday clarified that US-based electric car major Tesla will not have to source local components if it plans to set up a manufacturing unit in India. The government responded to apprehensions expressed by Tesla founder Elon Musk that the company would have to source a certain percentage of local components to set up plant here.

Fast & furious

Passenger car sales in India grew from a single digit three years ago to near double-digit growth last fiscal. Industry honchos predict a higher double-digit growth this financial year in the world’s fifth biggest car market.
Car sales in April, the first month of the new fiscal, were in top gear posting 14.68 per cent growth, propelled by robust performance from market leader Maruti Suzuki India.
Total sales rose to 2,77,602 units in April from 2,42,060 units sold in the corresponding month last year.

Rare Planet teams up with WH-Smith, Crossword for expansion

Rare Planet, the Kolkata-headquartered fledgling brand of rare ethnic products, floated by a first year computer science student, has now teamed up with WH-Smith and Crossword to make its entire range available pan India. Moves are already afoot to make sure Rare Planet products are there in every International Airport, every High Street and One Travels too. Rare Planet already has as many as six shop-in-shop outlets in Kolkata (Oxford Book Store on Park Street), Story on Elgin Road and Durgapur, Avani Mall, Lovely Obsessions, Bhubaneshwar and a franchise outlet at Kharagpur.

Amazon’s a la carte TV helps Starz, HBO stand out in Netflix Era

Media companies hoping to challenge Netflix and YouTube with their own online services are getting a huge boost from an unexpected source: Inc.
For about a year and a half, Amazon’s Prime membership service has been promoting subscriptions ranging from the well-known HBO and Starz to niche services like Gaia and Acorn TV, along with its own offerings including the award-winning comedy “Transparent.” On Monday, the world’s largest online retailer said the effort will expand to the UK, Germany and Austria with 25 to 42 live and on-demand channels from its partners.

Travkart partners with Sparkleminds

Travkart, a unit of Holidays by Sahibji Pvt Ltd, has partnered with the franchise business consulting company, Sparkleminds to help with its expansion plans in India. Travkart aims to create franchises in PAN India with initial focus on North and East India and hopes to create 4 franchises by the next quarter and 100 franchises by 2020. , a unit of Holidays by Sahibji Pvt Ltd, has partnered with the franchise business consulting company, Sparkleminds to help with its expansion plans in India.

Banan buys back Sagar Ratna for Rs 132 cr

Jayaram Banan, the company’s founder, has reacquired the iconic 88-outlet South Indian restaurant chain Sagar Ratna. India Equity Partners (IEP) had acquired 77 per cent of this franchise in 2011 for Rs 132 crore at a total valuation of Rs 175 crore.
Banan had continued to hold 22.7 per cent of the chain. Using his promoter firm of Ocean Pearl Hotels, he has now become 100 per cent owner of Sagar Ratna chain once again, buying out IEP at the same valuation, using a debt-financed model.

High-speed, ultra luxurious Tejas Express flagged off

Railway minister Suresh Prabhu on Monday flagged off the country's first high-speed and feature-rich Tejas Express from the Chhatrapati Shivaji Station here.
The new premium train will run five days a week between Mumbai and Karmali in Goa. During the monsoon season, it will operate three days a week.
The train will depart from Chhatrapati Shivaji Terminus Mumbai at 5 am every Tuesday, Wednesday, Friday, Saturday and Sunday from May 24 and arrive at Karmali at 1.30 pm on the same day.

Airtel, Voda, Idea caused Rs 400-cr loss to govt: Rel Jio

Reliance Jio has filed a complaint with the telecom ministry alleging that incumbents Bharti Airtel, Vodafone and Idea did not deposit requisite licence fee in March, which led to a potential loss of Rs 400 crore to the government.

Ikea to double India sourcing to $667 million as rollout nears

Ikea Group will double sourcing from India to 600 million euros ($667 million) as the retailer opens its first domestic outlet next year in a nation pegged to grow into the world’s third-largest consumer market.
The retailer, which broke ground on Thursday for a store in the financial capital Mumbai, is sticking to its goal of opening 25 outlets by 2025 in India despite trouble acquiring land, Juvencio Maetzu, chief executive officer of Ikea India, said in an interview. Its first store is set to open in Hyderabad early next year followed by more in Mumbai, Bangalore and New Delhi.