1. Economic Times[6 Sept- 11 Sept] Sukhwinder Singh MBA-2C

2. PepsiCo to set up low-cost foods unit PepsiCo India is in the process of creating its own low-cost foods business. To be called “foods value” business. This project is focusing on low-cost fortified snacks like biscuits priced at Rs 2-3 a pack, which PepsiCo will target at rural consumers. The new entity will be addition to the company’s existing divisions for beverages and foods, which operates under focusing Frito-Lay India.

3. Vodafone must pay tax on Hutch buy- HC HC ruled that Vodafone must pay a capital gains tax on its $11-billion acquisition of a controlling stake in mobile phone operator Hutchison Essar, completed in 2007. Estimated tax liability on Vodafone is of $2-billion. In its transaction,Vodafone acquired 52% from Hutchison Essar in an overseas transaction while 15% was held by Analjit Singh Asim Ghosh.

4. Continued…….. The court was of the view that the transaction was a composite one and is taxable. The company says only 15% of the stake acquired has links with India.

5. Reckitt-Bharti Walmart brand battle on Reckitt Benckiser has served a legal notice on Bharti Walmart demanding to withdraw its Great Value toilet cleaner. As it infringes upon the ‘bottle design and cap’ of Reckitt’s Harpic brand. Great Value is Wal-Mart’s top-selling umbrella brand with global annual sales of close to $11 billion.

6. Akai India all set to enter in mobile handset market Akai India will be shortly launching its mobiles ranging from Rs 1,800 to 8,000. Separate 234 service centers will be allotted for mobiles out of its total 663 service centers. It is aiming at 3% market share in a $550 billion handset market.

7. Miscellaneous MTS (Mobile Telephony Services) brand of Sistema Shyam Teleservices Ltd. would be launching 20 new models within 6 months. Britannia Industries Ltd. will invest around Rs 100 crore to set up one plant each at Bihar and Orissa to cater to the growing market.

8. Thank You.