Wednesday, 31 August 2016

UK government needs stronger response to VW emissions scandal: Committee

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The British government should take a tougher stance against Volkswagen (VW) after its emissions fraud, as well as increase the use of electric cars and reduce air pollution from transport, a parliamentary environment committee said on Thursday.
Almost a year after US regulators found that VW had cheated in diesel emissions tests, the British government has yet to decide what action to take against Europe's largest automaker, even though it faces criminal investigations in the United States, South Korea and elsewhere.
The worldwide scandal, dubbed "Dieselgate", has hurt VW's reputation and business, and already cost it billions of dollars. VW last September admitted to using a sophisticated secret software in cars to cheat on exhaust emissions tests.
The Environmental Audit Committee, whose conclusions are not binding on the government, said VW had only just started to recall cars in Britain and UK authorities have yet to decide whether to take legal action against the company.
"There's been a worrying inertia from ministers in tackling the VW scandal and they should decide whether to take legal action," Mary Creagh, chair of the committee, said in a statement.Read More

Tuesday, 30 August 2016

Fiat launches Jeep Wrangler, Cherokee models in India

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Italian car maker Fiat on Tuesday announced the India launch of two sports utility vehicles under the Chrysler-owned Jeep brand.
Prices of the Jeep Wrangler start at Rs 71.59 lakh while that of Jeep Grand Cherokee start at Rs 93.64 lakh (prices are ex-showroom, Delhi).
Both SUVs will come in as completely built units form. A third premium SUV will be made in India next year at Fiat's Ranjangaon plant, near Pune where it makes the Grande Punto, Linea and Avventura.
The legendary Jeep Wrangler comes to Indian customers with four-door, single trim version called Jeep Wrangler Unlimited.
The Jeep Grand Cherokee line-up will include the aggressive, fast and athletic Grand Cherokee SRT, the luxurious Grand Cherokee Summit and the classy and refined Grand Cherokee Limited.
Fiat Chrysler India to open 10 new distribution outlets in nine cities by the end of this calendar year to sell Jeep products here. Read Full Story>>>

Monday, 29 August 2016

Flipkart finally launches own digital wallet

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Flipkart, the country’s largest e-commerce entity, has launched its own digital wallet, PhonePe.
This plugs a crucial gap in its payments game against rivals Snadeal and Paytm, backed by Chinese giant Alibaba.
Flipkart says it hopes for over $1 billion (Rs 6,600 crore) in transactions by the year-end from this move. PhonePe is integrated with the new Unified Payment Interface (UPI), allowing users to directly transact from their bank account and not store funds in their mobile wallet.
Flipkart had actually acquired PhonePe in April and then adopted UPI, which aims to make individual wallets irrelevant. Since then, it has redesigned the product and entered into a strategic tie-up with YES Bank, to convert PhonePe into a bank-backed wallet that allows users to do peer to peer transactions, buy goods or pay bills.
“We have some very very aggressive plans right now,” said Sameer Nigam, chief executive officer of PhonePe, in a telephonic interview. “As a measure, we’re looking to get to about 10 million active customers by the end of the year and probably 25-30 mn registered users in the same time.”
Flipkart has been late to the payments game after its initial experiments failed. While rival Snapdeal acquired mobile recharge from Freecharge in April 2015 for $400 mn. Since then, Snapdeal brought former Airtel Money chief executive Govind Rajan to run the business, shifted its technology team to Bengaluru, focused on faster transaction time and forged partnerships with both YES Bank and MasterCard. It also expanded partnerships with retailers and business partners to reach out to more consumers. Read More