Good Morning Folks!!! Our favorite search engine, Google, boasts a name that reflects the enormous amount of information it sorts through. But before its big break, it had a much humbler name! Can you guess what this web-crawling wonder was originally called, a name that sounds more like a massage technique than a tech giant? Stay tuned till the end of the newsletter to find out!

FMCG
Speculations Surround Britannia's Kolkata Factory Closure Amid Exit Rumors

One Liner: Britannia's iconic Kolkata factory shutdown stirs buzz about a possible West Bengal exit!

Britannia Industries' closure of its historic Taratala factory in Kolkata has ignited speculation about a potential exit from West Bengal. While workers have accepted the Voluntary Retirement Scheme (VRS), state official Amit Mitra reassures that Britannia is not leaving but merely shutting down an outdated facility. Despite this, the production halt continues, and the Centre of Indian Trade Unions (CITU) is negotiating for the rights of contract workers. The BJP criticizes the ruling Trinamool Congress (TMC), blaming it for the state's economic decline and suggesting it influenced Britannia's decision📈🫣

INVESTMENT
Fairfax Group to Sell 9.72% Stake in CSB Bank via Block Deal

One Liner: Fairfax Group sets the stage for a significant strategic shift by divesting a 9.72% stake in CSB Bank through a high-value block deal.

In a pivotal move, Fairfax Group is preparing to sell a substantial 9.72% stake in CSB Bank through a block deal. This decision is part of a broader strategy to optimize its investment portfolio and could potentially raise up to ₹520 crore. The sale will see Fairfax reducing its holdings in the Indian bank while maintaining a strong presence in the financial sector. This divestment aligns with the group’s strategy to rebalance its investments and focus on other growth opportunities in India🎖️💹

CORPORATE
Puneet Renjen Outshines Tech Titans in CEO Earnings

One Liner: Former Deloitte CEO Puneet Renjen tops the charts, outpacing Pichai and Nadella in the U.S. CEO earnings!

Puneet Renjen, former CEO of Deloitte, has made a splash by becoming one of the highest-paid CEOs in the U.S., overtaking prominent figures like Sundar Pichai and Satya Nadella. His impressive compensation package reflects his effective leadership and significant contributions to Deloitte’s growth and expansion. Renjen’s achievement underscores the growing impact and recognition of Indian-American leaders in the global business landscape👏🦸

WORLD

Between the Australian government and ISRO, an exhilarating deal is taking form, with the former signing an MoU worth $18 million with ISRO’s commercial stronghold, NewSpace India Limited (NSIL). Under the covenant, Australian behemoth Space Machines will kickstart an observation payload in addition to initiating a satellite thorough check in 2026, jacking up the prospects of this outer space partnership.

Japan has imposed fresh sanctions on an array of companies, and among the farrago of 10 firms adorning the list, an Indian-origin Bengaluru-based tech firm caught everyone’s attention. The sanction is for all those companies belonging to a varied set of nations, prominently the UAE, China, Kazakhstan, and Uzbekistan, who have lent a hand to Russia in trying to circumvent trade and economic curtailments over the Ukraine attack.

The European Commission has issued a monstrous fine for Microsoft for flouting the law by wrongfully integrating its chat and video app Teams with its signature Office product. The action occurs on the heels of a 2020 complaint filed by its adversary workspace chat application, Slack, a brainchild of Salesforce. As per the comments made by the EU competition regulatory entity, Teams had enjoyed a distribution advantage, irking rivals, and ergo the watchdog stepped up to solidify a level playing field. 

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Workshop: Texture Mirror Art Workshop

Riddle

What is in your pocket and has no weight, can travel the world but never leaves your room?

ANSWER TIME!!

Answer(Trivia): Backrub

Answer(Riddle): An idea