Business & Economy Current Affairs 2017

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Marks & Spencer incorporates anti-bribery clause in Indian contracts

image As British retail giant “Marks & Spencer (M&S) is considering its expansion plans in India, it has added strict anti-bribery clauses in India contracts. The move comes at a time when the government has began investigation into bribery allegations against US retail giant “Walmart”, after it revealed a spending of $25 million in lobbying in US over the past 4 years, including issues related to "enhanced market access for investment in India."
M&S is installing an in-house structure to protect against malpractices and this will be applicable across its activities in India.

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Tata Sons appoints Cyrus Mistry as it Chairman

imageCyrus P Mistry will be the Chairman of Tata Sons from December 28 following retirement of Ratan N Tata.

  • Ratan Tata will be conferred with the honorary title of Chairman Emeritus.
    Mistry has also been appointed as the Chairman of Tata Steel and Tata Chemicals.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these firms. About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family.

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