Big Alcohol’s fight, Costco’s DEI defense, and Big Tech at the Trump show: Business news roundup
22 Jan
Business News

Big Alcohol’s fight, Costco’s DEI defense, and Big Tech at the Trump show: Business news roundup

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Photo: Witthaya Prasongsin (Getty Images), Justin Sullivan (Getty Images), Joe Raedle (Getty Images), Joe Raedle (Getty Images), jetcityimage (Getty Images), Pari Dukovic/National Portrait Gallery, Smithsonian Institution.Shelby Knowles/Bloomberg (Getty Images), Allison Robbert-Pool (Getty Images), Jakub Porzycki/NurPhoto (Getty Images), Image: Justin Sullivan (Getty Images)Photo: Witthaya Prasongsin (Getty Images)New cars are supposed to be more reliable than used ones — but that’s only true if you buy the correct vehicle. Consumer Reports mined its annual auto survey to see which car models its members found to be the least reliable. The data comes from more than 300,000 respondents in the U.S. and looked at 20 different trouble areas, like squeaky breaks, deteriorating interior trim, and EV charging problems. Read MorePhoto: Justin Sullivan (Getty Images)Almost a century after Prohibition ended, alcohol faces a new reckoning. In New Mexico, where alcohol-related mortality rates...
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Truck load capacity rises despite fall in volumes
22 Jan
Business News

Truck load capacity rises despite fall in volumes

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CHENNAI: Indian heavy duty truck sales may still be short of the 2018 peak sales volumes but in actual payload terms the industry is carrying higher capacity. “In 2018-19, heavy duty truck sales were at 295,000 units whereas last year it was at 258,000 units, down 12%,” said Vinod Aggarwal MD&CEO, VE Commercial Vehicles . However, due to migration to higher payload, the overall capacity for the industry has grown. “In 2018-19, the overall payload capacity was 9.7 million tonne but last year it was 10 million tonne as migration has happened to higher payload trucks,” he added.Truck sales are more or less flat negative in the first nine months of the current financial year. “The 3.5 tonne plus category is down by 2.1%, the sub-5 tonne category is down by around 1.5% and overall...
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Spirit Airlines’ worth, Tesla’s miss, and drug hikes: Business news roundup
09 Jan
Business News

Spirit Airlines’ worth, Tesla’s miss, and drug hikes: Business news roundup

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Photo: Kevin Carter (Getty Images), Justin Sullivan (Getty Images), Vijayananda Gupta/Hindustan Times (Getty Images), Shelby Tauber/Bloomberg (Getty Images), Andrew Harnik (Getty Images), Image: Chung Seun-Jun (Getty Images), Callaghan O’Hare (Getty Images), Thomas De Wever (Getty Images), Catherine McQueen (Getty Images), Allen J. Schaben / Los Angeles Times (Getty Images)A Spirit Airlines planePhoto: Kevin Carter (Getty Images)Spirit Airlines, which filed for bankruptcy in November, has given investors a peek into its ongoing reorganization. As part of that process, it filed a financial update with the Securities and Exchange Commission that shows its equity is worth less than the compensation paid to its executives in 2023. Read MoreA plane carrying 181 people, Jeju Air Flight 7C2216, crashed at Muan International Airport in South Korea after skidding off the runway and colliding with a wall, resulting in an...
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Seven billionaires created by India’s IPO boom in 2024
09 Jan
Business News

Seven billionaires created by India’s IPO boom in 2024

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Seven billionaires created by India’s IPO boom in 2024A blockbuster year for initial public offerings in India catapulted seven entrepreneurs into the dollar billionaires league, many of them early movers in the country’s booming renewable energy sector.Chiranjeev Singh Saluja of Premier Energies is among those who successfully rode the wave.“My father was in the business of supplying hand pumps to rural villages,” the 51-year-old said in an interview. “He saw that access to electricity was sparse in those areas, so he started Premier Solar in 1995,” Saluja said.Three decades on, the company rechristened Premier Energies is the country’s second largest integrated solar module and solar cell manufacturer behind the Adani Group. Investors bullish on the government’s investments in solar energy have bid up Premier shares nearly threefold since their debut in September, valuing it...
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