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Boosted by its consumer-facing businesses like organised retail and telecom, Reliance Industries ended state-owned Indian Oil Corporation's (IOC) 10-year reign as India's largest company, topping the Fortune India 500 list.With a revenue of Rs 5.81 lakh crore in 2018-19, the Mukesh Ambani-led conglomerate also became the first privately-held and the only other company to become India's largest corporation apart from IOC for the first time in 10 years, Fortune India said.State-owned Oil and Natural Gas Corporation (ONGC) was ranked third, same as in 2018. It was followed by State Bank of India, Tata Motors and Bharat Petroleum Corporation Ltd (BPCL) -- all with no changes in their ranking between 2018 and 2019.Close The list does not take into account subsidiaries of companies and so ONGC's ranking does not reflect those from its recently acquired Hindustan Petroleum Corp Ltd (HPCL) as well as ONGC Videsh Ltd. related news No extension beyond December 31 for Sabka Vishwas … [Read more...] about Reliance Industries topples IOC to become India’s largest company

Just how immersive is Uncut Gems, the cinematic Molotov cocktail from adrenaline junkies Benny and Josh Safdie? At one point, viewers get a glimpse of our protagonist, diamond district hustler Howard Ratner (Adam Sandler), from inside his colonoscopy. advertisement advertisement “It’s the visual pun of meeting an asshole through his asshole,” Josh Safdie said recently, in an interview with Fast Company. Ratner is a risk-prone entrepreneurial hurricane, constitutionally incapable of not trying to make a dollar out of 15 cents. (And $15K out of that first dollar.) Although Uncut Gems only puts viewers physically inside of Ratner for a brief moment, the remainder of the film plunges us into the constantly shifting juggle session of his existence, daring us to look away. Someone is always calling to buy something from Ratner or sell something to him; someone else is stopping by unannounced in his Manhattan showroom—or his child’s school play—to … [Read more...] about How Benny and Josh Safdie created the most chaotic moment ever on film in ‘Uncut Gems’

Jacobi Anstruther-Gough-Calthorpe has big ambitions for Iris, his two-year-old audio-technology startup. Iris has developed software that makes sound more immersive—ideal for streaming services and smartphones. But Anstruther-Gough-Calthorpe also wants to be in the burgeoning wellness space, plugging his tech into meditation apps and other health products. advertisement advertisement A decade ago, a well-financed young company such as Iris—investors include Queen drummer Roger Taylor and independent music label Concord—might have tried to serve a narrow set of customers before expanding into new markets and services. But the rapid ascent of startups such as WhatsApp, Instagram (both now owned by Facebook), and payments platform Stripe has emboldened a new generation of founders to position themselves as multichannel, global, and purpose-driven businesses from the outset. To help articulate his sweeping goals to potential funders, customers, and partners, … [Read more...] about How brand consultancy FNDR helps companies such as Snap and Glossier find their voices

In the age of FOMO (fear of missing out) and YOLO (you only live once), people are pursuing sensations and memories over material products more than ever. advertisement advertisement Statistics from Barclaycard show that in the U.K., spending on theme parks, tourist attractions, garden centers, pubs, and restaurants is on the up, while sales for department stores, clothing, gifts, and appliances are falling. Similar trends are in motion elsewhere. The passing of “peak stuff” has the potential to be good news for the planet. As society becomes increasingly aware that consumption is putting intolerable strain on the planet, sharing experiences can be a more sustainable way to show appreciation for ourselves, our friends, and our family. But this is not a given. Many businesses are capitalizing on the rise in experiential consumption with new and expensive ways to make memories—and many of them are just as damaging for the planet. To avoid these pitfalls, we … [Read more...] about Experiences are better than things, but not if you make your memories unsustainably

The Department of Commerce (DoC) has asked the Finance Ministry to impose a border adjustment tax (BAT) on imports to offset the impact of levies - electricity duty, clean energy cess, fuel and royalty, reported The Times of India.“Such taxes (which are not part of GST), while resulting in an increase in the cost of production of domestic goods, also place them on an unequal footing vis-a-vis imports rendering our exports uncompetitive,” the report quoted Commerce Secretary Anup Wadhawan as saying.Moneycontrol could not independently verify the report.Close As per the report, coking coal - which faces a clean energy cess - constitutes 40 percent of the input cost in steel-making. The share of non-creditable taxes in the sale price of hot-rolled coils (HRCs) is estimated to be around 5 percent of the sale value as against 3 percent in the case of imports, it added. related news Advance tax payment deadline for NE states extended to December 31: CBDT Are HNIs … [Read more...] about DoC asks Fin Min to levy border adjustment tax on imports: Report