Sunday, October 04
Renault CEO Luca de Meo is leaving the French carmaker to pursue a role outside the auto industry, the company said on Sunday, and newspaper Le Figaro reported he would become the new chief executive of Gucci-owner Kering. De Meo turned around the troubled French automaker in his five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles. The Italian will replace Kering CEO Francois-Henri Pinault, whose family controls the heavily indebted luxury conglomerate and who has been leading it for 20 years, Le Figaro reported. Kering declined to comment on Le Figaro's report. "Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector,"
The extreme heat caused by climate change is posing new challenges to airlines. Air temperature has a powerful effect on the physics of flight, making matters more complicated for aircraft designers and pilots. Last week, a Boeing 787 Dreamliner crashed shortly after takeoff in Ahmedabad in western India. It was more than 100 degrees Fahrenheit, or over 38 Celsius, at the time. So, we asked experts what hot weather means for air safety. They emphasized that air travel is one of the safest ways to get around, and has been for a long time, even when it's hot, because pilots are so highly trained and aircraft are built and tested to withstand the worst possible conditions. That said, heat will probably be increasingly disruptive for airline passengers in the future. Getting Off the ground Hi
Appellate tribunal NCLAT has clarified that the National Company Law Tribunal (NCLT) can order an investigation into the affairs of a company by probe agencies in cases related to the Insolvency & Bankruptcy Code by exercising its power under the Companies Act. The NCLAT order came on May 15 over a plea filed by Max Publicity & Communication which had challenged an NCLT order. The Mumbai bench of NCLT, on January 21, 2025, while rejecting an insolvency plea against Max Publicity & Communication, issued a direction to forward a copy of the order to investigative agencies, including the Serious Fraud Investigation Office (SFIO) and Economic Offences Wing (EOW). This was challenged before NCLAT by Max Publicity submitting that no opportunity was given to it to have its say on vari
Vishal Mega Mart promoter entity Samayat Services LLP is expected to sell 10% equity in the company via block deals on Tuesday. The deal size is estimated at Rs 5,057 crore and the shares could go under the block at a floor price of Rs 110 per share, which is at a likely discount of 12% over today's closing price of Rs 124.90.The news was reported by CNBC-TV18 and Vishal Mega Mart shares today ended with an uptick of Rs 1.15 or 0.93%.Samayat Services held 74.55% stake in the company as on March 31, 2025.The midcap company, which has a market capitalisation of Rs 58,096 crore was listed on December 18, 2024.Vishal Mega Mart shares have rallied 18% in 2025, so far outperforming Nifty which has delivered 5% returns this year. Since its listing the returns stand at 12%.Vishal Mega Mart is a di
