Amazon is closing 87 US pop-up electronics stores next month
Posted on 7th March 2019 |
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| Amazon.com Inc. is ending its experiment with electronics-focused pop-up stores, shuttering 87 kiosks located inside shopping malls, Whole Foods Market locations and Kohl’s stores around the U.S. “After much review, we came to the decision to discontinue our pop-up kiosk program,” an Amazon spokeswoman said. The closings are expected to be completed by the end of April, the Wall Street Journal reported earlier on Wednesday, saying it wasn’t immediately clear if any Amazon pop-ups outside the U.S. would be affected. On a conference call with analysts on Tuesday, Kohl’s, which says it hosted 30 Amazon kiosks in its retail stores, said it would wind down those store-within-a-store locations. Michelle Gass, the retailer’s chief executive officer, said Kohl’s had decided to stock Amazon-built electronics instead. The closings come as Amazon’s portfolio of traditional physical retail stores grows. The company two years ago acquired Whole Foods Market and the organic grocer’s more than 460 locations. The Journal reported last week that Amazon planned to open new grocery stores under a new brand, distinct from Whole Foods. The company also operates bookstores, cashierless Amazon Go-branded convenience stores and a new franchise that stocks a potpourri of items with positive reviews on Amazon’s online retail site, called Amazon 4-star. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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