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[ad_1] Hennes & Mauritz (H&M), the fast-fashion retailer that's been listed on the Swedish stock market since 1974, is steadily moving back towards private ownership. The founding family has stepped up purchases of H&M shares, spending more than $6.6 billion since 2016 to amass nearly two-thirds control and fuelling speculation it could take the Stockholm-based company back into private hands - despite denials from family members.The Perssons, one of Sweden's wealthiest families, has ramped up insider buying by reinvesting dividends, boosting its H&M stake to almost 64% from 35.5% over the past nine years through a holding company Ramsbury Invest, saying little about their intentions other than that they "believe" in H&M, founded in 1947 by Erling Persson. [ad_2] Source link

[ad_1] The scheme awards 700 points (Rs 700) for each interview conducted. (AI image) Infosys, India's second-largest software company, has launched a new initiative offering cash rewards to senior staff members who participate in lateral recruitment interviews, aiming to enhance staff engagement.The Bengaluru-based IT firm has introduced this incentive-driven scheme for the first time. The cash benefits are restricted to recruitment within India. This initiative recognises staff contribution to the interview process during a period when the IT industry is prioritising lateral recruitment over campus placements.A staff member indicated that this initiative aims to motivate team managers and mid-level leadership to acquire external talent and encourage employees to connect with high-calibre candidates.The scheme awards 700 points (Rs 700) for each interview conducted. Staff members can claim rewards for interviews dating back to January 1, as the programme is being implemented […]

[ad_1] In a move to bolster digital consumer protection, the Central Consumer Protection Authority (CCPA) has directed all e-commerce platforms to conduct self-audits within three months to identify and eliminate “dark patterns” — manipulative interface designs that mislead users into unintended actions.Issuing an advisory on Saturday, the Consumer Affairs Ministry said platforms must evaluate their digital interfaces for any features that could undermine consumer choice or amount to unfair trade practices. “All e-commerce platforms have been advised to conduct self-audits… and take necessary steps to ensure that their platforms are free from such dark patterns,” the ministry said, as quoted PTI.Dark patterns include practices such as false urgency messages, hidden costs, forced subscription sign-ups, and disguised advertisements. In 2023, the government notified guidelines identifying 13 such deceptive tactics, including basket sneaking, confirm shaming, drip pricing, and interface interference.Platforms are also […]

[ad_1] NEW DELHI: Foreign Portfolio Investors (FPIs) displayed negative investment patterns in the stock market during the initial week of June. FPIs withdrew a total of Rs 8,749 crore from equities between June 2 and June 6, according to NSDL data. This shows that FPIs remained net sellers in the stock market for most of the week. The outflow occurred during a period of global uncertainty and investor caution.A sharp shift was seen on Friday after the Reserve Bank of India’s Monetary Policy Committee unexpectedly cut the repo rate by 50 basis points. The repo rate decreased to 5.5%, strengthening investor confidence.Financial analysts suggest that this substantial rate reduction will enhance India's economic performance and strengthen demand conditions. "June first week saw a roller coaster in terms of FPI flows. The trend is positive as a weak US dollar is […]

[ad_1] In a significant compliance shift under the Goods and Services Tax regime, the GST Network (GSTN) on Saturday announced that the monthly GST payment form GSTR-3B will become non-editable from the July 2025 tax period onward. Starting with returns filed in August 2025, taxpayers will no longer be able to manually alter the tax liability in GSTR-3B once it is auto-populated — with any revisions allowed only through GSTR-1A prior to submission.According to GSTN, any changes in declared outward supplies will have to be made through form GSTR-1A before the GSTR-3B is filed for that same return period. These amendments will then be auto-populated into GSTR-3B and cannot be modified thereafter, PTI reported."From the July 2025 tax period for which form GSTR-3B will be furnished in August 2025, such auto-populated liability will become non-editable," GSTN stated. "Thus, taxpayers will […]

[ad_1] Eminent economist S Mahendra Dev has taken charge as Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), marking the end of a leadership vacuum at the top of the advisory body since last November.Dev, former Vice Chancellor of the Indira Gandhi Institute of Development Research, succeeds Niti Aayog Vice Chairman Suman Bery, who had been holding additional charge of EAC-PM following the death of Bibek Debroy, the council’s first full-time chairman.The Cabinet Secretariat had earlier announced that the prime minister approved the reconstitution of the EAC-PM for a period of two years or until further orders, whichever is earlier.While full-time members Sanjeev Sanyal, Sanjay Kumar Mishra and Shamika Ravi have been retained, the reconstituted council includes several new part-time members. These include Soumya Kanti Ghosh, group chief economic advisor at State Bank of India.Other part-time members […]

[ad_1] A surge in budget allocation and sustained policy focus over the past 11 years has led to a wide-ranging transformation in India’s agricultural sector, the Centre said on Saturday, crediting flagship schemes with driving output, procurement, and farmer support to new highs.In an official statement, the government said its agri reforms have empowered farmers and repositioned India on the path from food security to global agricultural leadership. The transformation, it said, has focused on inclusive development — covering smallholders, women-led groups, allied sectors, and traditional practices such as millet farming.“Over the past eleven years, under Prime Minister Narendra Modi’s leadership, India’s agricultural sector has undergone a profound transformation, rooted in the philosophy of Beej Se Bazaar Tak (seed to market),” the statement said, quoted PTI.Budgetary support for the Department of Agriculture and Farmers’ Welfare has risen nearly five times […]

[ad_1] As artificial intelligence and automation continue to reshape industries, the real challenge lies not in job displacement but in ensuring fair access to the wealth created by machines, Zoho cofounder Sridhar Vembu has said.In a hypothetical future where software development becomes fully automated—a possibility Vembu believes is still distant—millions of engineers could lose their jobs. However, he argued that the bigger issue is not a lack of meaningful human activity, but how people will afford goods and services in an economy where machines dominate production.“It’s a matter of economic distribution, not just technology,” said Vembu, who is also the company’s chief scientist as quoted by an ET report.He outlined two potential outcomes: either the cost of goods drops so close to zero that affordability becomes universal, or society compensates human-centric work—like caregiving, education, and environmental restoration—more generously, redistributing income […]

[ad_1] Infosys on Saturday announced the opening of its new development centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, marking a strategic expansion of its presence in India's premier international financial hub. The Bengaluru-based IT major said the facility will support more than 1,000 employees in a hybrid working setup and serve as a key TechFin hub delivering advanced digital solutions for global clients in the banking, financial services and insurance (BFSI) sector. “This centre will offer a state-of-the-art facility for over 1,000 employees in a hybrid working model. It will function as a key TechFin hub, delivering advanced digital solutions for global BFSI clients,” Infosys said in a statement, as quoted an ET report. The centre will provide services in digital banking, capital markets, trade finance, regulatory and compliance functions, cards and payments, and risk management. It […]