McDonald's India's strict conditions for its north and east franchise have halted talks between the fast food chain and potential Indian partners, according to a report by The Economic Times.RP Sanjiv Goenka Group and the Bird Group are no longer keen on bidding for the McDonald’s franchise, sources told the publication. At present, Sanjeev Agrawal-promoted MMG Group is the only potential buyer.MMG Group owns Moon Beverages, Coca Cola’s largest franchise bottling partner in India.Close The new McDonald's partner will not be allowed to list on Indian stock exchanges and will have to pledge shares to the California-based parent company, the report said. related news Hardcastle eyes Rs 2,500 cr topline, 400 McDonald's stores by 2022 Every McDonald's outlet in India will have a McCafe by 2022 No meat please! Nestle may extend plant-based burger partnerships Moneycontrol could not independently verify the story.“McDonald’s is actively progressing … [Read more...] about McDonald’s India’s strict conditions sour potential partners: Report
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UK Foreign Secretary Boris Johnson resigned on Monday night, sending alarm bells ringing across the government. Johnson was the public face during the 2016 Brexit campaign, urging citizens to quit European Union.Johnson was the third high-level resignation in 24 hours.Here’s an explainer on Johnson’s resignation and what it means for the UK government and Brexit:Close Why did Johnson resign? related news Disqualified Karnataka MLAs welcome Supreme Court nod for contesting bypolls Supreme Court to deliver verdict on pleas seeking Rafale judgment review tomorrow Maharashtra government formation: Ahmed Patel, Uddhav Thackeray discuss common minimum programme The immediate reason that Johnson cited for his resignation was UK Prime Minister Theresa May and her Brexit strategy. In a letter, Johnson wrote that May was leading the UK into a “semi-Brexit” and that the Brexit dream was “dying, suffocated by needless self-doubt".Johnson’s reaction … [Read more...] about UK foreign secretary Boris Johnson’s resignation: What has happened so far and what happens next?
Share prices of Hindalco Industries fell more than 2 percent intraday on November 13 after the company reported a mixed set of earnings for the September quarter. Brokerages, however, remain bullish on the stock, citing potential of Aleris and Novelis to drive earnings.The stock was quoting at Rs 197.45, down Rs 2.95, or 1.47 percent, on the BSE at 1300 hours, but it has gained 12 percent in the last three months.Maintaining outperform call on the stock with a target of Rs 260, implying 30 percent potential upside from current levels, Credit Suisse said the company's EBITDA in Q2 was largely in-line. The aluminium business EBITDA was 11 percent above its estimates, though copper business profitability was hit by lower byproduct realisations and lower volumes, it said.Close In the second half of FY20, the company expects no disruptions and costs for aluminium business to be flat to slightly down. Synergies between Aleris and Novelis could remain unchanged at $150 million, the … [Read more...] about Brokerages bullish on Hindalco, expect 22-30% return after Q2