New York

Bidding war heats up for $5b Amazon HQ2

It’s the prize of a lifetime – a $5 billion investment creating 50,000 well-paid jobs that everyone wants, but only one US city will get.

From East to West, from North to South, metropolises across the United States are locked in a frenzied bidding war desperate to woo Amazon into favouring them as the site of the e-commerce giant’s second headquarters.

Nooyi, Kochhar, Sharma on Fortune’s most powerful biz women list

Two Indians – Chanda Kochhar and Shikha Sharma – have made it to the rankings of most powerful women in business outside the United States drawn up by the Fortune magazine while Indra Nooyi featured in the top 3 on the US edition list.

The most powerful women in business outside the US list, which was topped by Banco Santander group executive chairman Ana Botin, placed ICICI Bank’s Kochhar at the fifth spot while Axis Bank’s Sharma has been ranked 21st.

Got short-range nukes to counter India’s ‘Cold Start’ doctrine: Pak PM

Pakistan has developed short-range nuclear weapons to counter the ‘Cold Start’ doctrine of the Indian Army, country’s Prime Minister Shahid Khaqan Abbasi said on Thursday. Abbasi was addressing a gathering at the Council on Foreign Relations, a top American think-tank, on his maiden visit to the US after taking over his new office. On Tuesday, he met with US Vice-President Mike Pence. He will address the annual UN General Assembly session on Thursday.

30% of Bank Jobs may disappear in five years

Vikram Pandit, who ran Citigroup Inc. during the financial crisis, said developments in technology could see some 30 per cent of banking jobs disappearing in the next five years.

Maria sparkles on return

Maria Sharapova proved she will be someone to contend with for the US Open crown after the Russian wild card outlasted second seed Simona Halep 6-4, 4-6, 6-3 on Monday to get the year’s final grand slam off to an electrifying start.

Still shaking off the rust from a 15-month doping ban and a string of nagging injuries, the 30-year-old Sharapova needed all her skill, determination and two hours and 44 minutes to snatch victory in front of a packed Arthur Ashe stadium.

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.

Chandra hints at consolidation

Emphasising that there will “definitely” be pruning of the Tata portfolio, Tata Sons chairman Natarajan Chandra­sekaran has said the company will not exit a business “just to get a headline” but only when it is certain the group is not getting returns from it.

Chatwal’s Dream Hotel set for Delhi debut in ‘19

Indian-American hotelier Sant Singh Chatwal has signed an agreement to expand its business to India with the opening of a luxurious hotel in New Delhi in 2019. The Chatwal-led Dream Hotel Group signed the hotel management agreement here on Monday with Viiking Ventures chairman Sachiin Joshi to open the Dream Hotel in New Delhi. Set to open in West Delhi’s central business district, Dream New Delhi will feature 187 guest rooms and suites and other hi-end amenities.

M&M eyes $5b revenue from US, to invest $1b

Diversified Mahindra group plans to invest $1 billion across business verticals in the US over the next five years as it aims to double revenues from the American market to $5 billion.