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Issue #60 Summer 2018 ISSN: 2037-108X

The new Neural issue (co-edited with Rachel O’Dwyer) is hot from the press.

Subscribe now! Because only subscribers will get a free extra“The Maker’s Bill of Rights by Garnet Hertz.

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"PVR has opted to insist on not paying any rent for the period of closure. PVR does not own properties and all of its screens operate on rent," said a source in Chennai-based SPI Cinemas which was acquired by PVR in August 2018.

"While the lockdown may continue for the next month or two, the cinema industry will take several months ('recuperating period') even after the lockdown is lifted, to get back to its feet, as the pipeline of content begins to flow again, and our patrons gain the confidence to step out of their homes and start visiting crowded places like cinemas.

Major mall operators in the country risk losing 20-25% of their annual revenue due to the shutdown, as per a report by ICICI Securities.

Around 75 retailers that operate 200 brands have written a letter to mall owners, seen by TOI, stating that revenue-share percentage should be a flat percentage depending on the category of stores. They suggested, for instance, revenue-sharing percentage for vanilla brands should be 10-12%, including common area maintenance (CAM), while for fast food brands and large format lifestyle stores, it should be 7-8%.

The post pandemic society will witness a change in consumer behavior and overall lifestyle. It is estimated that consumers will be extremely cautious with their spending. The spending on luxury, travel, hospitality, and movies, fine dine, white goods, expensive gadgets, among others and see a drop.

The government feels this will allow shopping and leisure activities to start up while maintaining physical distancing as traffic will be less than usual and easy to control. On Wednesday, Madhya Pradesh notified retail stores to open from 6am until midnight.

Large operators of malls such as Xander-backed Virtuous Retail, Select Group, Phoenix Group and Blackstone-backed Nexus have not waived rentals for their tenants.

Disney Springs vice president Matt Simon posted Thursday on the official Disney Parks Blog that the area will reopen May 20 with enhanced safety measures to help prevent the spread of the coronavirus.

It is the first time since the nation’s favourite chocolate bar hit the shelves in India over 70 years ago, that Cadbury Dairy Milk has replaced its logo with the words ‘Thank You’.

Total income during the latest quarter stood at Rs 1,724.51 crore, up 24.78 per cent from Rs 1,382 crore in the year-ago period , Varun Beverages said in a regulatory filing.

Secretary of the Senate Julie Adams has turned down presumptive Democratic presidential nominee Joe Biden’s request to search for records of any complaint filed by his former staffer Tara Reade, citing legal advice that she has “no discretion” to release such materials, because they are confidential under current law.

Nearly half of people polled were “not satisfied” with Biden’s response to Reade’s allegations. Only 19 percent said they were “very satisfied.”

President Trump excoriated the administration of President Barack Obama as “human scum” who attempted to undermine him by “targeting” former national security adviser Michael Flynn. 

Outpatient dialysis facilities have also reported challenges, including separating COVID-19 positive and negative patients and protecting their own workers.

Restaurants in the city are looking to slash in-house dining capacities by 40 per cent to ensure social distancing norms are followed and also ramp up their tech infrastructure to handle more orders online.

“While during the early days of lockdown basic essentials got sold, with time some discretionary sales are coming back,” said Devendra Chawla, MD at Nature’s Basket and Spencer’s Retail that saw 30-60% growth in sales for cold cuts, exotic vegetables, assorted breads and cakes, cookies, international sauces, organic range of staples in last ten days.

“There is absolutely no income coming our way due to the Covid-induced lockdown for over a month. As a result, most companies are facing the problem of paying the employee salaries in full for the month of April,” said National Restaurant Association of India president Anurag Katriar.

The US burger and fries giant has joined other restaurant chains including Jubilant FoodWorks-operated Domino's Pizza, Tata Starbucks and Speciality Restaurants in seeking waivers from landlords and mall owners.

Jaimini will be joining Pesto Tech, a career accelerator start-up, as their co-founder, Swiggy said in a statement.

The company, which reported Rs 500-crore turnover from its babycare portfolio last fiscal, recently opened its first exclusive 'moms & babies' shop in Bengaluru.

Brainbees Solutions, the owner of online baby products retailer, looks for a valuation of $400-500 million in a new round of fundraising

Currently, Toonz Retail runs 107 stores across India and in the coming year it is looking to come up with stores in Rajkot, Raiberali, Lucknow among other cities.

Maaté will offer free samples to all the expecting parents and to the parents who come for a regular check-up for their kids.

You might be asking when it will be safe to use a public pool or water slide. Here's what an expert said about coronavirus transmission in water.

Leander, through video conference, told the hosts about the rally at the Capitol where she stood, arms crossed, amid rally attendees.

The letter by the prosecutor marked the second time businesses in town were contacted by authorities for being in violation of Gov. Ducey's order.

Arizona Gov. Doug Ducey's stay-at-home order is ending Friday as salons open on Friday and restaurants open on Monday.

Sgt. Matt Feddeler, a spokesman for the Tempe Police Department, said the shooting stemmed from a hit-and-run involving two vehicles.

Arizona's daily death toll increased this week. Lagging death data and previously overlooked COVID-19 deaths are at least partially the reason.

Scottsdale Councilman Guy Phillips is cleared of an ethics complaint that alleged he had conflicts of interest related to the Southbridge II project.

Navajo Nation officials talked Friday about how federal aid related to the coronavirus pandemic could help with pressing needs like water and housing.

Ravi Saxena, MD, Wonderchef emphasizes that it is the best time to award industry status to retail sector for overall economic growth.

Founded in 2009 by Kapoor and former Sodexo Pass India MD Ravi Saxena, the company sells premium kitchen appliances, cookware and bakeware under the Wonderchef brand.

Besides, TTK Prestige has plans to expand its distribution network further and expects higher sales from fast-growing online channels.

“We see this second round of investment from TCA as a token of faith. We have grown 500% over the previous financial year and on track for very aggressive growth next year as well.” said Jagadeesh Kumar of The Indus Valley.

According to the statement released by the company, Srivastava, an alumnus of IIM-Ahmedabad, comes with over 15 years of cross-functional business experience. She has also mentored multiple start-ups and turned around their businesses towards better revenues and growth.

Kansai Nerolac Paints reported 16% drop in profit at Rs 122 crore for September quarter.

Consolidated revenue of the company increased 24 per cent to Rs 5,293.99 crore in Q3FY19.

The Sajjan Jindal-led JSW group’s JSW Paints entered the highly competitive paints industry in India with an initial investment of Rs 600 crore.

Total expenses rose 15.65 per cent to Rs 4,340.64 crore in the quarter as against Rs 3,752.94 crore in the year-ago period.

Berger Paints' total expenses was at Rs 1,304.62 crore as against Rs 1,136.47 crore, up 14.79 per cent.

Established in 2000, Indigo Paints is a relatively new entrant to the decorative paints industry that is dominated by the like of Asian Paints, Berger and Nerolac.

The number beat ET Now's poll estimate of Rs 547 crore profit.

Dhingra indicated that the company they would look for acquisition should be bigger than its existing operations in Russia. BPIL now runs the Russian operations through its subsidiary in Cyprus.

In a filing with the stock exchanges, the company said it is buying 95.53% stake of STPL. Balance 4.47% stake will remain with STPL’s existing shareholders.

The decorative business segment in India recorded high double digit volume growth.

Revenue from operations (excluding GST) in the said quarter stood at Rs 1,598.58 crore.

From Rs 12 crore in FY09, the Pune-headquartered company, which is gunning for an IPO, closed FY19 with revenue of Rs 600 crore. Here Jalan talks to TOI about his plans for the company.