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- Bit by Bit 4th Dec. || Effects of Ukraine war on its economy || Will Reliance snatch the deal from D-mart & More
Bit by Bit 4th Dec. || Effects of Ukraine war on its economy || Will Reliance snatch the deal from D-mart & More
Good Morning Readers!
Anyways, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
(Markets were closed on 2/12/2022, Saturday)
ECONOMY
Key Facts
Ukraine's inflation rate is at 27%
The U.S. has been the leading donor, giving USD 15.2 billion in financial assistance and USD 52 billion in overall aid
The Story
Even as it celebrates recent battlefield triumphs, Ukraine's government faces a huge financial challenge: how to pay the enormous cost of the war effort without causing out-of-control price rises for regular people or piling up debt that could impede postwar reconstruction.
Ukraine, according to President Volodymyr Zelenskyy, requires USD 38 billion in financial help from Western friends such as the United States and the EU's 27 member states, as well as USD 17 billion for a reconstruction fund for war damage. Defense expenditure is six times greater in the Ukrainian parliament's newly authorised 2023 budget than it was last year. Military and security spending will account for 43% of the budget or an astounding 18.2% of yearly GDP.
Despite Western sanctions, Russia's economy has performed better than Ukraine's due to high oil and natural gas prices, which have supported the Kremlin's budget. Plans by the EU and its Group of Seven allies to impose a price ceiling on Russian oil sales hope to change that.
FMCG
Key Facts
Reliance Industry's acquisition of METRO AG's Cash & Carry business in India is likely to be finalised later this month
Gives the conglomerate the option to convert Metro's 31 stores into multi-brand retail chains and take on the likes of D-Mart
This is going to aid Reliance Retail, the country's largest retailer, expand its presence in the B2B segment.
The Story
Reliance Industry's mega acquisition of German retailer METRO AG's Cash & Carry business in India, which is likely to be finalised in time for the group's late founder Dhirubhai Ambani's birthday later this month, will give the oil-to-telecom conglomerate the option to convert Metro's 31 stores into multi-brand retail chains and take on the likes of D-Mart.
India's foreign investment rules bar overseas players from entering the multi-brand retail business, forcing players such as Metro to confine themselves to cash-and-carry wholesale and sell to hotels, offices and kirana stores. Sales to traders generates around half the revenue for Metro, with another one-third coming from offices, TOI said.
Adding B2C business to the wholesale stores will thus require tweaks to the operating model. Metro had earlier decided against ramping up its India ..
Reliance is said to acquire Metro' India unit in a deal estimated at around 500 million euros (Rs 4,060 crore), which includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry in the country.
AUTOMOTIVE
The Story
Automaker Mahindra & Mahindra on Friday informed that the company is recalling over 19,000 units of the XUV700 and the Scorpio-N. The company said the cars have been recalled to fix a rubber part.
Mahindra & Mahindra will recall 6,618 Scorpio-N units and 12,566 XUV700 units assembled between July 1 and November 11, 2022, according to the company website.
“A sorting process error at the supplier’s plant, on specific dates, may have affected operating dimensional clearance of rubber bellow inside bell housing. Keeping with the company’s stringent quality standards and exercising abundant caution, Mahindra has proactively engaged in this limited inspection and subsequent rectification, free of cost. Customers will be individually contacted by the dealership. As an endeavor to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity," said the company.
Mahindra & Mahindra Ltd has announced that its overall auto sales for the month of November 2022 stood at 58,303 vehicles.
In the Utility Vehicles segment, Mahindra & Mahindra Ltd. has sold 30,238 vehicles in November this year. The passenger vehicles segment (which includes UVs, Cars and Vans) sold 30,392 vehicles last month.
TECH
The Story
The world's first sixth-generation aircraft, the B-21 Raider stealth bomber, was unveiled by the US and will shortly be delivered to the US Air Force. According to Kathy Warden, CEO of Northrop Grumman, which created the bomber, "the Northrop Grumman team develops and delivers technology that advances science, looks to the future, and brings it to the here and now."
US Secretary of Defense Lloyd Austin stated during his speech at the ceremony in California that the B-21's advantage will endure for decades. Austin continued by stating that the B-21 will be the most easily maintained bomber ever produced and that it is engineered to deliver both conventional and nuclear missiles with astounding accuracy. The B-21 is capable of networking into all domains and to numerous systems throughout the battlespace.
The Doolittle Raids of World War II, when 80 men under the command of Lt. Col. James "Jimmy" Doolittle and 16 B-25 Mitchell medium bombers embarked on a mission that altered the course of the war, inspired the naming of the B-21 Raider. According to the US corporation, the Raider is recognized as the first bomber of the twenty-first century by the designation B-21.
Want a BIT More?
Key Facts:
1. Decision was based on input from more than 3,750 consumers and analysis of people's emotional reactions to each Christmas advertisement using facial recognition technology.
2. Advertisements from Amazon, Aldi, and M&S came second, third, and fourth, respectively.
3. In fifth place is Lego’s Katy Perry-fronted ad with a score of 5.8, followed by The National Lottery (5.7), Disney (5.5), Lidl (5.4), Barbour (5.3), Tesco (5.2), Cadbury (5.2) and Boots (5.2).
Story:
The most successful holiday TV commercials of 2022, according to two of the top effectiveness research agencies in the UK, are the Cadbury and Asda adverts for Christmas. Asda's "Have Your Elf a Merry Christmas" tops System1's rankings for its ability to boost brand impact, but Kantar's analysis identifies Cadbury's "Secret Santa" as the advertisement most likely to be successful over the long haul.
A drive to distribute 120,000 chocolate bars over the six weeks leading up to Christmas Eve is being led by the Cadbury advertisement, which announces the return of its Secret Santa Postal Service for a seventh consecutive year. The 30-second commercial, which was produced with the help of the agency VCCP London, introduces viewers to the Cadbury postman as he parcels the chocolate and explains how they can covertly send a bar to a friend or family member.
