Tuesday, September 08
Walmart announced on Friday that CEO Doug McMillon will retire next year after more than a decade leading the world's largest retailer, as the company navigates new challenges such as artificial intelligence and global tariffs.McMillon, 59, will be replaced by U.S. division chief CEO John Furner, 51, a veteran with three decades at the company. Walmart's shares fell 2.5% in early trading, in part due to concerns McMillon's decision to step down came sooner than anticipated.McMillon, who joined Walmart in 1984 as an hourly associate has served in leadership roles at all three Walmart divisions: U.S., International and Sam's Club. He rose through the ranks to become CEO of Walmart in February 2014, replacing Mike Duke.Walmart on Friday said McMillon will retire in January next year, but cont
India's largest automaker Maruti Suzuki Limited announced on Friday that the company will recall 39,506 units of Grand Vitara, citing inaccurate fuel level and warning light in the speedometers of some units.The automobile major is recalling 39,506 units of Grand Vitara that were manufactured from December 9, 2024 to April 29, 2025.It is suspected that the fuel level indicator and warning light in the speedometer assembly in some of these vehicles may not accurately reflect the fuel status as intended, Maruti Suzuki said in a regulatory filing.The company will connect with the affected vehicle owners for inspection and replacement of the faulty part, free of cost, through its authorized dealer workshops.
Brokerage Ambit Capital has initiated coverage on Zinka Logistics, the parent company of BlackBuck, with a Buy rating and a target price of Rs 885. The brokerage says the company has emerged as India’s largest commercial vehicle technology platform by sharply expanding its tolling and telematics offerings and improving profitability over the last three years. The stock currently trades at Rs 699.Ambit says BlackBuck has built a strong position in digitising India’s trucking ecosystem, driven by its FASTag payments network and telematics products. The platform now serves more than 7.9 lakh monthly transacting truck operators, representing about 23% of India’s trucker base.This helped the company deliver 53% revenue CAGR between FY22 and FY25 in its core business. During this period, a
Jaguar Land Rover said on Friday its manufacturing operations had returned to normal after a cyberattack forced a six-week halt at its UK plants, disrupting supply chains and costing the carmaker hundreds of millions of pounds.The British luxury carmaker, owned by India's Tata Motors, resumed production in October after a phased restart, following the shutdown of systems in early September to contain the incident.Below are the key facts about the incident and its impacts:* Britain's economy barely expanded in the third quarter, held back in part by the cyberattack at JLR* JLR has three factories in Britain, which together produce about 1,000 cars per day* No evidence of customer data theft; some internal data affected* JLR reports Q2 cyberattack-related costs of 196 million pounds ($263.05
