UK government conditionally approves £15bn Vodafone–Three merger 

The merger is under ongoing investigation from the Competition and Markets Authority: The UK government has this week released a “Publication of notice of Final Order” that provisionally approves the Vodafone–Three merger, subject to certain conditions. Following a “detailed national security assessment”, the cabinet office has approved the merger, providing that: – A National Security Committee is set up within the merged company to oversee any sensitive information that the company deals with that is related to the national security of the UK. It will be necessary for the company to provide regular updates to the government; – Within this group, a specific technical group is established that will deal with a specific list of topics (such as cyber, physical, and personnel security); – The MergeCo’s network migration planning is subject to review by a government approved external auditor; – The MergeCo will have specified arrangements for its governance. The government said in this statement that the above measures will mitigate national security risks in relation to UK networks and data “resulting from the merging of two large, complex organisations and their respective staffing, policies, processes and networks.” The government also says these measures will eliminate risks in relation to Vodafone’s role as a supplier of services to the government. “We strongly believe (the merger) will strengthen competition in the UK’s mobile sector and enable a significant step-up in the UK’s mobile network infrastructure,” said the two companies in a joint statement. The investigation by the Competition and Markets Authority (CMA) is separate and still ongoing. The investigation began its second phase last month, with results expected by September. UK government conditionally approves £15bn Vodafone–Three merger | Total Telecom
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80% of us suffer from workplace anxiety: how can employers help?

Recent research from Fora, London’s leading premium workspace provider, shows that four in five hybrid workers have experienced workplace anxiety since the start of the pandemic.

Such experiences may be one factor that helps to explain the UK’s continuing decline in productivity. The average hybrid worker missed six days of work in 2023 because of workplace anxiety, which led to a total of more than 28m days missed.
  • Leading workplace behaviour psychologist Dr Craig Knight has six tips for employers who want to support their employees and minimise the lost time:Create an enriched environment, which includes elements like art and considered interior design
  • Offer a range of spaces to suit different styles of work, and understand that not all work can be done in the same way
  • Listen to employees’ opinions – you don’t need to implement everything that’s requested but it should all form part of the decision-making process
  • Embrace the importance of recharging – a suitable space to get back in the zone after a big meeting can boost productivity
  • Watch out for signs of workplace anxiety, which may be particularly prevalent after holidays or around important deadlines
Jennie Farmer, Chief Marketing Officer at Fora agrees: “We know that workplace anxiety is a pressing issue in today’s professional landscape. Our polling results serve as a reminder that our working environment needs to do more than offer a desk and chair – it needs to support our employees’ wellbeing. At Fora, we’re driven by the belief that when people feel empowered by their work environment, they deliver their best work, and by offering workplace experiences that cater to the needs of modern workers, we’re laying the foundations for a happier, more productive workforce.”For more information about Fora and how our solutions can help support individual workstyles, please visit www.foraspace.com.80% of us suffer from workplace anxiety: how can employers help?
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Honda to Pour $15 Billion into EV Factory in Ontario–the Largest Auto Investment in Canada's History

Ontario Premier Doug Ford, Prime Minister Justin Trudeau, and Finance Minister Chrystia Freeland listen as Toshihiro Mibe, President and CEO of Honda Motor Co., speaks to the crowd at Honda of Canada – released by Honda.

In late April, Honda Motor Company announced plans to build a comprehensive electric vehicle (EV) value chain in Canada with an approximate investment of CAD$15 billion (USD$11 billion).

Consisting of four manufacturing plants for EVs, EV batteries, and battery components the first will have a production capacity of 240,000 EVs per year when fully operational, while the battery plant will produce around 36 gigawatt-hours per year.

Battery recycling and end-of-use concepts are being taken into account in the project.


Currently in evaluation phasing, the company hopes to build in Alliston, Ontario. In addition to securing the current employment level of 4,200 associates at its two existing manufacturing facilities in Ontario, Honda estimates it will add a minimum of 1,000 new jobs for the EV and EV battery manufacturing facilities.

The investment will also create significant spinoff jobs across all sites, including in the construction sector where it’s estimated that at least 4,000 tradesmen and laborers will be involved.

Honda has begun the process of evaluating the scope of its investment and completing negotiations with its joint venture partners, which includes the Federal Government of Canada who are supporting the work with CAD$5 billion. The work is expected to be finalized during the next six months.

Canadian and Ontario labor unions are scrutinizing the announcement for signs that Honda may employ foreign labor for the construction, when, they say, it should all be going to Canadians due to the presence of public money in the investment.

Honda Motor Company, Honda of Canada, and the Canadian Industry Minister, Francois-Philippe Champagne, have all said this will not be the case, with the Honda of Canada President going as far as to suggest a memorandum of understanding be signed on the topic of foreign workers versus unionized workers for the project.

Despite a recent slowdown in the growth of EV sales, especially in the U.S., Honda, the price of which reached a new 52-week high in March, said it was sticking to its goal of selling only EVs and fuel-cell, or hydrogen, vehicles globally by 2040.

Honda of Canada recently fabricated its 10 millionth car—a gasoline-powered CRV.

Honda of Canada workers finishing the 10 millionth vehicle assembled in Canada – credit – Honda
As the first step in achieving this electrification goal in North America, Honda positioned its existing auto production plants in the state of Ohio in the US as its EV hub for production, including the retooling of existing plants, an investment of USD$700 million, and the construction of a joint venture EV battery plant with LG Energy Solution, with an expected investment of USD$4.4 billion, the company said in a statement. Honda is the only auto manufacturer outside China that reveals its near neighbor for full supply chain EV production.Honda to Pour $15 Billion into EV Factory in Ontario–the Largest Auto Investment in Canada's History
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Axiata and Airtel sign agreement to merge operations in Sri Lanka

The move will be facilitated by a stake swap, with Dialog Axiata taking 100% ownership of Airtel Lanka in exchange for giving Bharti Airtel a 10.4% stake in Dialog Axiata, Today, Bharti Airtel and Dialog Axiata have jointly announced the signing of a formal agreement to merge their Sri Lankan operations. The deal, which was first announced almost a year ago, will take place via an equity swap, with Bharti Airtel swapping 100% of its shares in its Sri Lankan unit, Airtel Lanka, for a 10.4% stake in its local rival Dialog Axiata. The move see Airtel Lanka’s 5 million mobile subscribers integrated with Dialog Axiata’s 17 million, giving Dialog Axiata an even larger lead in the Sri Lankan market, with a market share of over two-thirds. Rivals Hutch and SLT Mobitel have roughly 3.5 million and 7.5 million subscribers, respectively. “This consolidation will enable the merged entity to garner economies of scale, reduce duplication of infrastructure, achieve synergies in technologies and capital expenditure, leading to enhanced high-speed broadband connectivity, voice and value-added services, cost savings, and operational efficiencies,” read a joint statement from Airtel and Dialog Axiata. “The merger between Dialog and Airtel Lanka is aligned to Axiata’s strategy of market consolidation and resilience,” said Vivek Sood, Axiata Group Berhad’s Group CEO and Managing Director. “The merger will create value for shareholders of Dialog Axiata PLC and of Axiata Group through achievable synergies. We have the utmost respect for Airtel Lanka and its employees and look forward to working together as we integrate the two companies.” According to the statement, the merger has already received regulatory approval from the Telecommunications Regulatory Commission of Sri Lanka. The timeline for the mergers finalisation has not been announced. Axiata and Airtel sign agreement to merge operations in Sri Lanka | Total Telecom
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More high-level exits at Paytm, company says part of restructuring exercise

New Delhi, May 7 (IANS) Ajay Vikram Singh, Chief Business Officer (CBO) of the UPI and User Growth vertical, and Bipin Kaul, CBO, Offline Payments have stepped down from digital payments major Paytm, as senior-level exits continue at the company amid "ongoing restructuring". Paytm said, in a statement, that it is committed to ensuring sustained growth across key business verticals as "we are going through a restructuring initiative that signals a reinvigorated approach under Paytm’s CEO". "These changes are part of our approach to strengthen Paytm’s next line of leaders," the company added. Last week, One97 Communications Ltd (OCL), which owns Paytm, announced plans to expand its leadership team to build a large and profitable payment and financial services distribution business. "These robust leaders will work directly with the CEO and other senior management leaders fostering innovation and strengthening the group structure for sustainability and regulatory compliance," said the digital payments company. According to the company, Bhavesh Gupta, President and Chief Operating Officer, has taken a career break due to "personal reasons", and will be transitioning to an advisory role. The digital payments major also saw leadership transitions within its wealth subsidiary where Rakesh Singh has been appointed as the new CEO of Paytm Money Ltd (PML and Varun Sridhar, former head of Paytm Money Ltd, now leads as CEO at Paytm Services Pvt Ltd (PSPL). "As and when we have further updates, we will continue to engage with concerned stakeholders," said Paytm. More high-level exits at Paytm, company says part of restructuring exercise | MorungExpress | morungexpress.com
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Bajaj Auto launches new flagship Pulsar at Rs 1.85 lakh


New Delhi, May 3 (IANS) Two-wheeler major Bajaj Auto on Friday launched the highly anticipated 'Pulsar NS400Z' in the country at Rs 1,85,000 (ex-showroom).

The Pulsar NS400Z will be available in four colours -- Glossy Racing Red, Brooklyn Black, Pearl Metallic White, and Pewter Grey.

"It is the ultimate performance machine that will redefine the codes of sports motorcycling in India. It results from engineering expertise, cutting-edge technology, and a deep understanding of what riders truly desire," Sarang Kanade, President of Motorcycle Business, Bajaj Auto, said in a statement.

The new Pulsar comes powered by a 373cc liquid-cooled engine with a 6-speed gearbox, delivering 40 PS power, 35 Nm torque, ride-by-wire electronic throttle, and four ride modes.

In addition, the bike comes loaded with an LED projector headlamp, wide tyres, a fully digital colour LCD speedometer with Bluetooth connectivity, turn-by-turn navigation, music control, lap timer, and traction control.

Moreover, the company said that the new Pulsar NS400Z adapts to any ride with dedicated modes -- Road (smooth acceleration, stable ABS for daily use), Rain (limited power, conservative ABS for wet roads), Sport (heightened throttle, maximum stopping power for spirited riding), and Off-road (optimised low-end torque, controlled braking for rough terrain).

The new motorcycle possesses a comprehensive suite of braking and control features for safety purposes.

Dual-channel ABS with Combined ABS technology ensures exceptional stopping power and prevents wheel lock-up under various riding conditions. Switchable Electronic Traction Control (ETC) further enhances grip in Sport and Off-road modes, empowering riders with greater control, the company mentioned, Source: https://www.morungexpress.com/bajaj-auto-launches-new-flagship-pulsar-at-rs-185-lakh
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FCC gives T-Mobile the green light to buy Mint Mobile

The deal has been pending regulatory approval since January last year: The Federal Communications Commission FCC confirmed last week that it has approved T-Mobile to purchase buy Ka’ena Corp, the owner of Mint Mobile, for up to $1.35 billion. The deal will also cover the acquisition of other companies under the Ka’ena Corp umbrella, including Ultra Mobile and wholesaler Plum.

According to a press release published last year after the deal was agreed, T-Mobile stated that it will pay up to $1.35 billion in a combination of 39% cash and 61% stock for Ka’ena Corp.

The company was founded in 2015 as a subsidiary of US-based mobile virtual network operator Ultra Mobile.

After moderate success, the popularity of Mint Mobile skyrocketed in 2019 following actor Ryan Reynolds acquiring a 20–25% stake of the firm and subsequently starring in all related advertising.

In January last year, it was reported that T-Mobile had entered to acquire Mint Mobile, with the purchase seemingly made simpler due to the fact that Ultra and Mint customers already receive services over T-Mobile’s 4G and 5G networks.

“I know they’re going to fit in because they are hyper-focused on offering customers compelling products at a great value,” said Mike Sievert, CEO of T-Mobile in an earnings call last week.

“We’ll work to further fuel their success while also learning from their team who are absolute rock stars in the direct-to-consumer and value segments,” he continued. T-Mobile confirmed that after receiving regulatory approval, the deal is expected to close on May 1. FCC gives T-Mobile the green light to buy Mint Mobile
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SES to buy Intelsat for $3.1bn

Posted by Georgia Sweeting: The deal comes less than a year after the two companies broke off merger talks

Luxemburg-based satellite company SES has signed a deal to buy Intelsat Holdings for $3.1 billion.

A joint press release from the two companies explained the combination as creating “a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies.”

Once combined, SES’s orbital assets will include 100 Geostationary Earth Orbit and 26 Medium Earth Orbit satellites.

The deal gives Intelsat an enterprise value stands of $5 billion, with SES suggesting the deal will deliver synergies worth €2.4 billion ($2.6 billion).

“Going forward, customers will benefit from a more competitive portfolio of solutions with end-to-end offerings in valuable Government and Mobility segments, combined with value-added, efficient, and reliable offerings for Fixed Data and Media customers,” said SES CEO Adel Al-Saleh.

Rumours related to a potential acquisition had first began to swirl last year, with SES confirming talks were taking place in a statement. However, these discussions appeared to fizzle out, leaving it unclear if discussions were ongoing.

Now, the deal has been unanimously approved by both company boards and is expected to close in the latter half of next year, pending regulatory approval.

The deal represents the latest stage in consolidation of the global satellite industry, as European companies attempt to compete against newer rivals such as Elon Musk’s Starlink, which launched in 2019 and has come to dominate in terms of sheer scale.

However, in terms of financials and with its well-established customer base, this newly combined SES–Intelsat could become an even more significant player in the satellite communications industry.

Indeed, some industry onlookers suggest that this combination could itself create a dominant market leader.

“The combined entity is poised to be the world’s largest satellite company in terms of revenue, and could dominate the market, leveraging its extensive resources and expertise to shape the future of satellite communications and deliver on new use cases,” commented Christof Kern, Business Development Lead in Satellite & Space at satellite consultancy TTP.

In related news, this week Intelsat announced that it will install and operate ruggedised multi-orbit satellite terminals on farm equipment from CNH in remote areas of Brazil. This will enable farmers to effectively implement precision farming, the practice of using technology to use precise amounts of water, fertiliser, and pesticides to maximise crop yield. The satellites will provide the connectivity allowing farmers to implement the practice. Source: https://totaltele.com/author/georgia-sweeting/e: 
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Aviation in a ‘purple patch’ amid new plane crunch, AirAsia says

Malaysia-based AirAsia founder Tony Fernandes remains bullish on air travel. MUST CREDIT: Richard Humphries/Bloomberg
The aviation industry is experiencing a “purple patch” with demand for seats far outstripping capacity amid a long wait for new aircraft and a shortage of pilots further discouraging any fresh competition, Tony Fernandes, the founder of low-cost carrier AirAsia, said. Malaysia-based AirAsia for its part is set to witness its “best ever period” with most of the carrier’s 240 planes back in the sky and “airfares at their best,” Fernandes said during an interview near Kuala Lumpur’s international airport on Monday. “I’ve never been this bullish before,” Fernandes, who started AirAsia 23 years ago, said. “Southeast Asia is going through a renaissance period of sensible economics, and that’s a good thing.” On the back of that, AirAsia plans to raise as much as $600 million in coming months, Fernandes said, as he tries to pull off a merger between his two aviation businesses – long-haul carrier AirAsia X Bhd. and short-haul airline AirAsia, which is currently a unit under Fernandes’ more diversified company Capital A Bhd. Following the merger, which is expected to conclude mid-year, the new entity will look to raise up to $400 million via selling equity, Fernandes said. Citigroup Inc. and US advisory bank Evercore Inc. have been appointed to lead the capital raising. A $200 million revenue bond, securitized against revenue from new routes, is also expected to be finalized soon, he said. Fernandes said the merger of the two airlines will create a new firm called AirAsia Group that will subsequently take over AirAsia X’s listing on Bursa Malaysia. The company may also do away with its AirAsia X branding as the aviation businesses consolidate. AirAsia has ambitions to expand its footprint from a predominately Asian airline to a global low-cost carrier with a more extensive network. It plans to start flying to Kazakhstan, its first route in Central Asia, later this year. Fernandes, who has previously spoken about succession at the company he founded, said Monday that he would retain an advisory role at AirAsia Group following the merger. He’ll remain chief executive of Capital A, his other listed company that will ultimately hold all the non-aviation businesses he’s started. Those include Teleport, a logistics company, and Move, an online travel agency that also operates a ride-hailing business. Move is finalizing a $30 million capital raising while Teleport has raised $35 million in debt, he said. The company’s aircraft-maintenance arm, Asia Digital Engineering, has also managed to raise $100 million, Fernandes said. The Financial Times reported in October that Capital A is seeking to raise more than $1 billion in debt and equity and list some of its businesses through a blank-check company in New York. The company said in November that it will seek a Nasdaq listing via a special purpose acquisition company merger with Aetherium Acquisition Corp.“2024 will be a very good year. 2025 will be an amazing year,” Fernandes said. “There’s a lot of growth for us. Aviation in a ‘purple patch’ amid new plane crunch, AirAsia says
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Walmart’s PhonePe launches India mobile app store to rival Google

A general store advertises the use of the PhonePe digital payment system in Mumbai, India. MUST CREDIT: Dhiraj Singh/Bloomberg
Walmart Inc.-owned fintech PhonePe Pvt. launched a mobile application store for consumers in India, the world’s biggest market for downloads. The Android-based store is called Indus Appstore, PhonePe said in a statement Wednesday, as it pits the product against Google’s Play Store. The store will have more than 200,000 mobile applications and games in 12 Indian languages. The move comes as PhonePe capitalizes on growing mobile usage in the world’s second-largest smartphone market. The group is also trying to forge partnerships with smartphone makers and expects to be live on most major phone brands by the end of the year, Chief Executive Officer Sameer Nigam told reporters in New Delhi. Developers will not have to pay any application listing fee until April 2025 and can use any third-party payment gateway of their choice, the release said. PhonePe Group also runs a payments business that competes with Ant Group-backed Paytm and Google’s GPay.Walmart’s PhonePe launches India mobile app store to rival Google
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The future of work: Why we need to think beyond the hype of the four-day week

Yaëlle Amsallem, ESCP Business School and Emmanuelle Léon, ESCP Business School

Is reducing working hours a sign of progress? Since the 19th century, the number of hours spent at work has been steadily declining in developed countries.

The four-day week emerged in the 90s as a political and economic demand for a more equal division of work. The idea was to reduce the number of hours worked so that more people can access employment. This approach, developed in 1993 by French economist Pierre Larrouturou, was tested in 1996 with the de Robien law on the organisation of working hours. In France, business leaders such as Antoine Riboud, CEO of the multinational food-products firm Danone, championed the idea as a way of boosting recruitment. However, the law was repealed in the early 2000s with the labour reform that introduced the 35-hour week. Elsewhere, in Germany, Volkswagen adopted the four-day week in 1994 to save 30,000 jobs, only to abandon it in 2006.

The Covid crisis and its associated lockdowns have brought this debate back into the spotlight. The widespread adoption of working from home, the use of new technologies and the increase in flexibility have profoundly transformed the way we work. This period has also reinforced employees’ desire for a better work-life balance. As a result, 56% of British employees would accept to earn less money in exchange for more free time.

Against this backdrop, the debate on the four-day week is resurfacing. Countries in Asia and Oceania are looking at ways to organise their workforces in order to reengage their employees. In New Zealand, the government introduced a four-day week at the end of the pandemic to boost productivity and improve work-life balance. In Japan, several companies have also come on board, including Hitachi and Microsoft. This measure, presented as a means of combating overwork culture, is also an opportunity to significantly improve productivity (by 40% in the case of Microsoft).

Europe is following suit, starting with the countries of Northern Europe, followed by the UK, Germany, Spain, Portugal and France.

This reform can take various shapes – each of them presenting specific challenges.

A four-day week or a week squeezed into four days?

The first approach is the most popular: an unchanged number of working hours, concentrated over four days. This is the model implemented by Belgium and the Nordic countries. In autumn 2022, Belgium passed a law on the four-day week, called the “deal for employment”: employees can work four days without any reduction in salary because their weekly working time remains the same. In Italy, the Intesa Sanpaolo bank is doing the same. In France, an attempt to do so was proposed in March 2023 to the employees of Urssaf Picardie, but was a complete failure. The cause: parenthood. Long days no longer allow parents to take their children to and from school.

This is a new form of temporal flexibility, without any reduction in working hours. As economist Éric Heyer points out:

“We shouldn’t confuse the ‘four-day’ week, which reduces working time, with the ‘week in four days’, which compresses it.”

The challenge, then, is to work differently so that the quality of work does not suffer as a result of intensification.

Working less, working better

The second approach is the true ideal of the four-day week, namely the 32-hour week: shorter working hours thanks to increased productivity. It has been implemented in Southern Europe (Spain, Portugal).

This formula is based on the idea of maintaining work productivity by identifying and reducing unproductive time, streamlining certain processes, notably reporting and participation in meetings. Working less, yes, but above all working better. It would in fact limit everything considered superfluous. That said, putting the organisation on a diet reduces its ability to adapt to rapid changes in its environment. For example, we now know that “down times” facilitate the exchange of information between teams.

This approach is deeply embedded in the idea that technology will compensate for any loss of productivity, a recurring theme since the publication of The End of Work in 1995 by American essayist Jeremy Rifkin. The arrival of generative artificial intelligence has brought the concept back to the forefront. Bill Gates even talks about the imminent arrival of the three-day week.

Since the advent of the industrial world, organisations have constantly sought to optimise working time. For many years, it simply kept pace with the production line. Working time and time at work were perfectly synonymous. Today, we don’t have to go to the office to work: work has moved into our personal spaces. Working time has become detached from office time. With the four-day week, the aim is to frame work in terms of time rather than space. Sarah Proust, an expert associated with the Fondation Jean-Jaurès, explains:

“What is at issue here is the organisation and distribution of work, rather the place we intend to give to work in society.”

Toward a new work paradigm?

Instead of focusing on the volume of hours, shouldn’t we be talking about the very nature of work? In the words of economist Timothée Parrique, we need to stop predicting the future of work with ideas like the four-day week, and start inventing the work of the future.

A growing body of research, notably in the wake of anthropologist David Graeber, is highlighting the loss of meaning at work, the rise of “bullshit jobs” and the “revolt of the top of the class”, to borrow the title of journalist Jean-Laurent Cassely’s book.

Unfortunately, reorganising working hours will not be enough to reengage one’s workforce. Working time is above all a “hygiene factor”, as psychologist Frederick Irving Herzberg explains. It cannot deliver the motivation so hoped-for by managers. It can only temper employee dissatisfaction. As a source of personal fulfilment and satisfaction, highers-up need to activate genuine “motivational factors”, such as by valuing the work accomplished, employees’ autonomy, or making work tasks more interesting.

Perhaps we need to create new utopias of work along the lines of Ecotopia: The Notebooks and Reports of William Weston, Ernest Callenbach’s book (1975) that imagined three West Coast states seceding from the USA to establish a radically ecological way of life. In it, Callenbach imagines a new model of society where people only work 22 hours a week. This utopia depicts economies where a large proportion of the available hours are devoted to social, political, cultural and environmental activities. Ecotopia advocates personal and collective fulfilment before individual success. Businesses are self-managed, public transport is free, education and health are accessible to all, criminal violence is absent, universal income is in force and recycling, sobriety and degrowth are the rule.

Callenbach wanted to give us a glimpse of a world he believed to be better, not only for the environment, but also for the individual balance of each person. As we live longer than ever, and as work occupies less time in our lives, we need to imagine, not a new way of working, but a new way of living.The Conversation

Yaëlle Amsallem, Doctorante, Assistante de recherche de la Chaire Reinventing Work, ESCP Business School and Emmanuelle Léon, Professeure associée, Directrice scientifique de la Chaire Reinventing Work, ESCP Business School

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Improved fortunes for French nuclear sector

The Flamanville 3 EPR, where fuel loading is expected to start next month (Image: EDF / Alexis Morin and Antoine Soubigou))
France's nuclear industry giants - EDF, Framatome and Orano - have each reported improved results for 2023, compared with 2022, and expect continued growth in 2024, partly due to France's plan to build new reactors. EDF - which was renationalised last year - recorded sales of EUR139.7 billion (USD150 billion) and earnings before interest, tax, depreciation and amortisation (EBITDA) of EUR39.9 billion in 2023. The group's net income totalled EUR10 billion, following record annual losses of EUR17.9 billion in 2022. The company said its "exceptional" results were "driven by a very good operational performance, achieving a significant 41.4 TWh increase in nuclear generation in France in a context of historically high prices". It added: "Coming after the sudden drop in nuclear power output in France in 2022 due to the stress corrosion phenomenon and exceptional regulatory measures to limit price rises for consumers, these results have reduced net financial debt." In France, nuclear power output totalled 320.4 TWh, in the upper end of the range announced for the year. EDF said: "This turnaround was achieved by good management of the stress corrosion repairs and reactor outages, thanks to efficiency and reactivity of the teams to improve the fleet availability." As of the beginning of January 2024, 46 French reactors were online, representing total capacity of 50 GWe. Of the 16 reactors most sensitive to stress corrosion, 15 had been repaired by the end of 2023, and the final one will be repaired during its ten-year inspection, which starts this month. Additionally, the 2023 programme of checks on welds repaired during reactor construction has been completed. EDF estimates that its nuclear output in France will be 315-345 TWh in 2024 and 335-365 TWh in 2025 and 2026. EDF's UK nuclear fleet generated 37 TWh of electricity last year, providing about 13% of Britain's total power demand. Output was 15% lower than in 2022 due to station closures and statutory outages but nearly four times the forecast when EDF acquired the fleet in 2009. In the UK, EBITDA was GBP3.4 billion (USD4.3 billion) and net investment was GBP3.6 billion, meaning investment was greater than EBITDA for the sixth year running. EDF said it will invest a further GBP1.3 billion in the five generating stations over the next three years in a concerted effort to keep nuclear output stable after several years of decline due to older stations retiring. This comes on top of GBP7.5 billion of investment since EDF acquired the fleet 15 years ago. "The strong operating performance of EDF in the UK and the support of the Group enabled us to continue to invest significantly in Britain in 2023," said Simone Rossi, CEO of EDF in the UK. "EDF is a long-term partner to Britain, and I am proud of our role over 25 years strengthening the country's energy security and cutting carbon emissions." With regards to its new build projects, EDF noted that at the Flamanville 3 EPR projects in France the tests to requalify the entire installation were successfully completed, in preparation for fuel loading in March. Meanwhile, at the Hinkley Point C project in the UK, EDF announced last month that the plant was now unlikely to be operational before 2030, with the overall cost revised to between GBP31 and GBP34 billion (in 2015 prices). It noted an impairment of EUR12.9 billion was booked, mainly relating to Hinkley Point C assets but also including EDF Energy goodwill, partly as a result of aging plants. It added that since the start of 2024 construction at Hinkley Point C was being financed by the shareholders on a voluntary basis, and EDF is currently financing all costs. "2023 marks the return of the company's operational performance at a better level, after a year of industrial difficulties and exceptional regulation unfavourable effects in 2022," said EDF Chairman and CEO Luc Rémont. "With these good results, EDF has met its financial targets and reduced its financial debt. They also reflect the hard work put in by all EDF's teams to turn generation levels around, and provide appropriate sales offers for customers, and innovative solutions in response to the needs of the electricity system. "Finally, 2023 saw the start of key actions for the company’s future, with an intensive focus on change and efficiency improvements so we can remain the leader in carbon-free, competitive electricity production that is available at all times. I am certain that all these steps will continue to bring benefits over the next few years." In February 2022, French President Emmanuel Macron announced that the time was right for a nuclear renaissance in France, saying the operation of all existing reactors should be extended without compromising safety and unveiling a proposed programme for six new EPR2 reactors, with an option for a further eight EPR2 reactors to follow. EDF and Framatome are developing the EPR2 as a simplified version of the EPR design which incorporates design, construction and commissioning experience feedback from the EPR reactor, as well as operating experience from the nuclear reactors currently in service. EDF proposes to build three pairs of EPR2 reactors, in order, at Penly, Gravelines and Bugey. EPR projects help Framatome: Meanwhile, nuclear engineering group Framatome reported revenue of almost EUR4.1 billion in 2023, with an organic increase of 9.1% compared with 2022. It said this growth was driven by the development of EPR projects in France and the UK and by an increase in service activities for EDF in France. EBITDA was EUR598 million, an increase of 4.7% compared with 2022. "The execution of projects was well controlled, and optimisation of overhead costs continued," it said. "Production in plants was in line with customer commitments despite supply chain tensions." Framatome noted its Installed Base Business Unit executed several primary component replacement operations for EDF on the French fleet and for Eskom in South Africa. It also strengthened its position on the highly competitive North American market, while equipment was successfully delivered to the Angra 3 project in Brazil and to Bruce Power in Canada. Framatome's Instrumentation and Control Business Unit continued to grow, driven by new build and modernisation projects in France, the UK and Central Europe. Losses were recorded in North America and have given rise to remedial actions, it said. The Projects and Components Business Unit activities were supported by the completion of weld repair work on the main secondary circuit and hot tests on the Flamanville 3 EPR. In the UK, several of the primary components for Hinkley Point C were delivered and the fabrication of forged parts and equipment for the Sizewell C project is well under way. "2022 was also marked by the ramp-up of design engineering work for the first serial production forgings of the EPR2 programme," Framatome said. Investments have been launched within the scope of the ramp-up in production of an industrial programme linked to the EPR2 programme in France. These investments relate to manufacturing and assembly activities for the primary and auxiliary equipment components. Orano optimistic for 2024: Fuel cycle company Orano reported revenue of EUR4.8 billion in 2023, up 13.1% on a like-for-like basis, supported by rising market prices and increased front-end and back-end activity. EBITDA was EUR1.2 billion, up from EUR1.0 billion the previous year. "Thanks to its good results and in particular its continuous deleveraging over the past 6 years, Orano has put itself in working order to support the new nuclear energy prospects and meet the climate and sovereignty challenges," said Orano CEO Nicolas Maes. "The decision to increase our enrichment production capacity is a concrete illustration of this, and foreshadows other development projects in our nuclear base, and our new activities in nuclear medicine and the battery value chain. "Therefore, 2024 marks the start of a new cycle of development and investment in areas that are more essential and meaningful than ever."Researched and written by World Nuclear News. Improved fortunes for French nuclear sector : Corporate - World Nuclear News
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Walmart’s PhonePe launches India mobile app store to rival Google

A general store advertises the use of the PhonePe digital payment system in Mumbai, India. MUST CREDIT: Dhiraj Singh/Bloomberg

Feb. 21, 2024– Walmart Inc.-owned fintech PhonePe Pvt. launched a mobile application store for consumers in India, the world’s biggest market for downloads.

The Android-based store is called Indus Appstore, PhonePe said in a statement Wednesday, as it pits the product against Google’s Play Store. The store will have more than 200,000 mobile applications and games in 12 Indian languages.

The move comes as PhonePe capitalizes on growing mobile usage in the world’s second-largest smartphone market.

The group is also trying to forge partnerships with smartphone makers and expects to be live on most major phone brands by the end of the year, Chief Executive Officer Sameer Nigam told reporters in New Delhi.

Developers will not have to pay any application listing fee until April 2025 and can use any third-party payment gateway of their choice, the release said.

PhonePe Group also runs a payments business that competes with Ant Group-backed Paytm and Google’s GPay. Walmart’s PhonePe launches India mobile app store to rival Google
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Supporting early-life development: Nestlé unveils new age-adapted growth nutrition blend

HMOs are a vital element of breastmilk that promotes gut health and strengthens the child's immunity.

26 Oct 2023 --- Nestlé has launched its new early-life nutrition formula, Nan Supreme Pro with Sinergity blend. It’s a blend that incorporates a probiotic along with six human milk oligosaccharides (HMOs), designed to foster tailored infant development.

Probiotics play a crucial role in nurturing the gut microbiome and enhancing immunity. This is especially vital in infant development.

Likewise, HMOs, a vital element in breast milk, aid in the progression of intestinal microbiota and bolster the immune system as the child grows.

“Sinergity is a proprietary blend of age-adapted six HMO and a specific Nestlé proprietary probiotic called B. Infantis LMG11588. In mothers’ milk, HMO profiles change with the time of lactation to suit the needs of the infant,” a Nestlé spokesperson tells Nutrition Insight.

“We developed our product to mimic these changes by adapting the levels of the six HMOs to the age of the infant. The product also contains proteins, fatty acids, vitamins and minerals.”

The blend is designed for stages one to four of infancy: from four months up to three years of age.

“The benefits of Sinergity include digestive and immune health, bone and muscle development, age-appropriate growth, and cognitive development, all of which contribute to a child’s overall health and well-being both in the short and long-term.” 

Infant gut health and immunity: Nestlé has been studying the composition of various nutrients and bioactives that are present in breast milk, such as proteins and HMOs, for years. Through this exploration, the company’s scientific team has discovered how a specific strain, B. infantis LMG11588, has the ability to efficiently absorb and metabolize HMOs, thereby producing key beneficial compounds.

“This new innovation is part of our efforts to continue strengthening our understanding of breastmilk through research. Our research has revealed the mechanism of action of how this specific probiotic strain B.Infantis can further unlock the beneficial effects of the HMOs,” details the spokesperson.

“This work helps to advance the scientific field and inform the continuous development of science-based nutrition solutions for infants. We also actively share the outcomes of our research with healthcare professionals worldwide.”

Laurent Alsteens, global head of early childhood nutrition at Nestlé, says: “We are absolutely committed to engaging in groundbreaking research and are working with healthcare professionals to contribute to optimal nutrition in early childhood through clinically tested solutions that provide the essential nutrients for babies that cannot be breastfed exclusively or who are only partially breastfed.”

Age-specific formula: According to Nestlé research, the composition of HMOs in breast milk changes during the lactation period. For this reason, the Sinergity proprietary blend with infant-specific probiotic strain also includes six varying levels of HMOs.
According to Nestlé research, the composition of HMOs in breast milk changes during the lactation period.

“Nestlé is a pioneer in the R&D of early-life science-based solutions. We have discovered the important benefits of combining our proprietary B. infantis probiotic with a blend of six HMOs,” says Isabelle Bureau-Franz, head of Nestlé’s R&D for Nutrition.

“Leveraging our innovation expertise, we developed this breakthrough solution by successfully translating the new scientific findings, scaling up the production of the probiotic and carefully adapting the levels of six HMOs according to age.”

The spokesperson further adds that the recommendation that parents and caregivers consult their healthcare practitioner for feeding advice.

Sinergity was developed at the Nestlé R&D Center for Nutrition in Konolfingen and the Nestlé Research in Lausanne, both in Switzerland and alongside its factory in Biessenhofen, Germany.

The product has already been launched in Hong Kong and it is set to be introduced to the Latin American market at the end of this year and in Europe early next year under the NAN Supreme pro brand.

Last year, Nestlé’s scientific team discovered new bacteria in the gut of toddlers transitioning from infancy to early childhood, which they argued would enable the development of next-generation nutritional solutions and probiotics to support growth and development.

The company also recently reported on compliance with its policy to implement the WHO International Code of Marketing of Breastmilk Substitutes, which includes recommendations on the appropriate stage of infant development for formula consumption.

By Milana Nikolova This feature is provided by Food Ingredients First’s sister website, Nutrition Insight.Supporting early-life development: Nestlé unveils new age-adapted growth nutrition blend
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Foxconn to invest $600 million in India’s Karnataka to make iPhone components, chip equipment

FILE PHOTO: A woman walks past the logo of Foxconn outside the company’s building in Taipei, Taiwan November 9, 2022. REUTERS/Ann Wang/File Photo
BENGALURU (Reuters) -Foxconn will invest $600 million in two projects in India’s Karnataka to make casing components for iPhones and chip-making equipment, signaling its growing interest in the south Asian nation as it spreads bets beyond China. Some $350 million will go towards setting up the iPhone component facility, which will generate 12,000 jobs, while Foxconn will tie up with Applied Materials in a $250 million project to make chip-making tools, Karnataka state said in a statement. Reuters was first to report the investment plans on Wednesday. The state government said both projects were signed via so-called letters of intent, meaning final modalities could change. Foxconn, which assembles around 70% of iPhones and is world’s largest contract manufacturer, has been diversifying production away from China amid COVID disruptions and geopolitical tensions. The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka’s IT minister Priyank Kharge, and Industries Minister MB Patil. “We are excited about the possibilities that Karnataka offers for our expansion plans in India,” Liu said in the statement. Foxconn’s expansion in India is also the latest in a string of foreign companies – from Micron to Amazon – that are expanding and committing billions of dollars worth of investment in the coming years, placing a bet on growing consumption and demand in the world’s most-populous nation. Prime Minister Narendra Modi is also attracting investors for semiconductor manufacturing, which is his key business agenda currently. In Karnataka, Foxconn will collaborate with Applied Materials on a project for making semiconductor manufacturing equipment, and create jobs for around 1,000 people. Foxconn also has plans to apply for incentives under a $10 billion scheme by India’s government to promote chip manufacturing, and is in talks with Gujarat to set up a chipmaking facility in the western state. Foxconn chairman Liu has been in India and been meeting officials in several states after attending the federal government’s flagship semiconductor conference.India’s Tamil Nadu state has also announced that Foxconn will invest $194 million in a new electronic components manufacturing facility that will create 6,000 jobs. Foxconn to invest $600 million in India’s Karnataka to make iPhone components, chip equipment
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Mastercard India names ex-SBI Chair Rajnish Kumar as chairman

State Bank of India (SBI) Chairman Rajnish Kumar speaks at a banking conference in Mumbai, India, 

BENGALURU (Reuters) – Mastercard on Thursday named former State Bank of India Chair Rajnish Kumar as the chairman of its Indian unit, as the country witnesses a change in the payments landscape with digital transactions gaining traction. Kumar has held a variety of leadership roles in India’s top lender for 40 years and was its chairman for three years until Oct 2020. He is currently the chairman of payments startup BharatPe. “Kumar will be involved in augmenting the local leadership team in its efforts to expand our domestic footprint,” Mastercard’s Asia-Pacific President, Ari Sarker, said in a statement. The U.S.-based card company has faced some challenges in India, including a regulatory curb by the central bank, which barred Mastercard in 2021 from issuing debit and credit cards to new domestic customers over compliance issues regarding storage of payment system data. The ban was lifted in June 2022.Mastercard has said that it sees India as a key growth market and has invested $2 billion in the country since 2014 to build technology centres and support innovation in digital payments.Mastercard India names ex-SBI Chair Rajnish Kumar as chairman
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Apple has switched from its Lightning connector to USB-C — we explain which is better and why they did it


After many years of designing and selling a variety of different cables to power and charge its devices, Apple has slowly switched to USB-C chargers for all of its products.

The last device to swap is the iPhone, and it happened against Apple’s will. In October last year, the European Commission requested all phones and laptop producers switch to the USB-C connector (which had earlier been agreed on as a common standard).

Apple could have chosen to ignore the request and stop selling in the EU, or to produce versions with USB-C for the European single market only. Instead, it chose to comply and follow the EU rules everywhere. The common charger for all devices is thus becoming a reality, at least until the world moves completely to wireless charging.

A better standard

The Lightning charger was introduced by Apple in 2012 and first featured on the iPhone 5. It was the successor to the 30-pin dock connector introduced in 2003 for the first iPods and iPhones. Arguably, the key visible innovation of the Lightning cable was reversible ends.

This enabled the user to insert the charger into the dock without having to wonder whether it was oriented in the right way. It might seem trivial now, but this was not the case with any other charger. If you are using the standard USB port on your laptop now, you are likely to spend a lot of time plugging the cable in and taking it out in order to find the right orientation. You’re probably also complaining about how inconvenient it is. At least, that’s what I do.

The USB-C connector came out about two years after the Lightning. There was nothing particularly novel or remarkable about it compared to Apple’s cable. However, one notable feature was that it borrowed the Lightning connector’s reversibility.

USB-C is just the name of the connector, not the entire cable. The cable and connector are part of a bigger technical specification called USB-4. USB-4 outperforms Lightning in every technical dimension conceivable. It can transfer data much more quickly: up to 40Gbps (gigabits per second) for USB-4 versus 480Mbps (megabits per second) for Lightning. It also charges devices more swiftly, to the point that Apple started selling Lightning to USB-C adaptors.

The main difference between the two, however, is that UBS-C is not proprietary. It was developed by a consortium called the USB implementer forum. This consortium is composed of companies such as Intel and Microsoft – and also Apple.

There are several possible reasons why Apple held on to the Lightning connector as long as it did. Vytautas Kielaitis / Shutterstock

All of the USB standards can be used by any business. Apple, on the other hand, does not allow anyone else to use its proprietary accessories, unless they agree on a license. This means that USB-C is compatible with many more devices, including all recent Apple products, but not previously with the iPhone.

When it pays to be different

So, what’s so special about the Lightning connection that made Apple stick with it for so long, despite repeated promises to join its competitors on a common standard? Why would Apple sabotage one of its own phones by keeping a substandard charging connection?

One possibility is that consumers are inattentive when they buy a phone, and do not directly factor in the cost of accessories such as chargers. If this is true, Apple would have needed these add-ons to remain proprietary and make sure no competitor could start offering them for a lower price. If so, forcing Apple to offer the better standard benefits all consumers.

The alternative explanation is that some consumers actually value the Lightning connection more. After all, the look is different, and Apple fans argue that it may be harder-wearing than other standards. It is also a signal of status and exclusivity.

We seem to have reached a stage in the market for smartphones where people who only care about everyday usage replace their device much less often. This is probably because technology is not evolving at the same pace it did in the past. Yet, it’s also the case that demand for high end phones continues to increase.

This could be because they cater to a subset of consumers who either greatly value a marginally higher quality of camera or slightly bigger storage. But mostly, expensive phones are a way to signal social status.

People buy the latest phone not only because they want to own it, but also to be seen as owning one. This is certainly a factor that has helped Apple thrive because the company offers products that are visibly different from the cheaper alternative. And another sign of status for Apple users is having different accessories, including the proprietary chargers.

Apple has not always been so keen to reject common standards. Not only is it one of the participants in the USB consortium, but it is also the company that helped USB become the global standard by offering it on its first generation of iMacs.

At the time, however, Apple was the underdog in the market for personal computers, facing off against the tech giant Microsoft. And a big reason why many people did not buy Apple computers at the time was their fear they would not be compatible with Microsoft products.

At one point, Apple even went as far as developing tools to help users run Windows on their devices. At the time, it made sense to try to make your products as compatible as possible with those of the market leader.

In today’s smartphone market, Apple is a leader, and may gain from not being compatible with other standards and products. The big question, however, is whether consumers benefit. If exclusivity is a way to block competition, then they probably don’t. If consumers value exclusivity, or if it encourages Apple to innovate, then perhaps forced standardisation is not such a great idea.The Conversation

Renaud Foucart, Senior Lecturer in Economics, Lancaster University Management School, Lancaster University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Google seeks suppliers to move some pixel production to India

FILE PHOTO: The new Google Pixel 4 smartphone is displayed during a Google launch event in New York City, New York, U.S.
Alphabet’s Google is scouting for suppliers in India to assemble its Pixel smartphones as it borrows from Apple’s playbook to diversify beyond China. Google has initiated early conversations with companies including homegrown Lava International and Dixon Technologies India as well as Foxconn Technology Group’s Indian unit Bharat FIH, said people familiar with the matter, who spoke on the condition of anonymity because the matter is private. Google would be the latest global technology player to move production to India. The potential partners it’s talking to have won Prime Minister Narendra Modi’s so-called production-linked financial incentives, which have boosted local manufacturing. Apple has used the program to widen its supplier base in India and tripled iPhone output to more than $7 billion in the fiscal year through March 2023. Modi has been pitching India as an alternative manufacturing hub, as more companies are becoming wary of the risks of depending on China after its harsh Covid lockdowns and a trade war between Washington and Beijing. Modi is scheduled to visit the U.S. this week where his delegation is expected to hold talks on topics including a removal of tech trade barriers between the two countries. Last month, India’s Technology Minister Ashwini Vaishnaw met with Google Chief Executive Officer Sundar Pichai at the company’s headquarters in Mountain View, Calif., for a conversation that revolved around Modi’s local manufacturing drive and India’s state-backed technology push. Key Google executives who visited India this month for the partnership talks included Ana Corrales, operating chief of its consumer hardware arm, and Maggie Wei, a senior director of global sustaining product operations, the people said. Representatives for Lava, Dixon, Google and Foxconn didn’t respond to requests for comment. Google built about 9 million Pixel smartphones last year, according to Counterpoint Research, and the discussions in India underscore its plans to move production beyond China and Vietnam. The Pixel is among the most sophisticated smartphones, and Google uses its flagship hardware product to showcase what its Android operating system and apps are capable of when optimized. India is a key growth market for Google’s services but the company has largely watched from the sidelines as cheaper Chinese phones have dominated the region. Local assembly could help drive up Pixel sales, and if the phone effort is successful, Google could also move production of other hardware such as speakers to India, the people said.Still, there is no certainty Google’s talks will result in a deal and the company could opt not to build the Pixel in India, the people said. Source: https://www.newsindiatimes.com/
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Airtel starts refarming 2G spectrum for 4G services to enhance indoor coverage


NOV 17, 2020 NEW DELHI: Bharti Airtel has started deploying 4G technology in 900 megahertz band, which it was using for 2G services, across 10 telecom circles to enhance indoor coverage of the high-speed mobile telephony, according to sources involved in the process. The refarming of 900 Mhz spectrum band for 4G services is underway in six circles of Delhi, Kolkata, Andhra Pradesh, North East, Karnataka and Rajasthan. The company will extend the exercise to more circles where it has liberalised spectrum in the 900 Mhz band, one of the sources said. A senior Bharti Airtel executive told PTI that the company has already shut down 3G across the country and re-farmed all the 3G spectrum for 4G. "As smartphone penetration grows further in small towns and villages, we have the opportunity to deploy some of the high quality 900 Mhz band from 2G to 4G and scale up network capacity without having to wait till auctions. This is helping us truly differentiate the 4G experience on our network," the company executive who did not wish to be named said. The executive added that Bharti Airtel has liberalised 900 Mhz spectrum in 10 circles and the entire refarming process is expected to be completed in the next 3-4 months. A recent report by OpenSignal rated Airtel as the network with the highest download speed, the best gaming experience and also the best video experience. The company executive said that the refarming will enable Bharti Airtel to further boost mobile signals inside buildings compared to signals transmitted in high frequency bands of 1800 Mhz and 2300 Mhz bands that are also in use for 4G services. "900 Mhz band with higher propagation, especially helps in better indoor coverage for 4G and adds more muscle to Airtel''s 4G spectrum bank, which includes airwaves in 2300 Mhz and 1800 Mhz bands," the executive said. Bharti Airtel recorded 14.4 million new 4G customers on its network in the second quarter of ongoing financial year. The executive said that Airtel will continue to provide 2G services. Another source mentioned that network vendors of the company in respective circles have been engaged in the refarming process. A query sent to Bharti Airtel in this regard elicited no immediate reply. Copyright © Jammu Links News, Source: Jammu Links News
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India's Wipro to take over IT operations of German firm


Indian software major Wipro on Tuesday announced that its is taking over the IT operations of German food services firm Metro AG in a $700 million (Rs 5,171 crore) deal.

"As a part of the transaction, Wipro will take over the IT units of Metro AG - Metro-Nom - in Germany and Metro Systems in Romania," said the city-based IT firm in a statement.

The deal value for the first five years is worth $700 million, with a potential to go up to $1 billion if extended by another four years.

The takeover is expected to close by April 30, 2021. The transaction was assisted by the global strategy consulting firm EY-Parthenon.

"As part of the deal, 1,300 Metro employees in Germany, Romania and India will be transferred to Wipro, providing them with opportunities to advance their careers, access innovation, work with digital technologies and adopt new ways of working for agility, speed and scale in engineering," said the statement.

Wipro will deliver technology, engineering and solutions to Metro to be a wholesale provider in the hotel, restaurant and catering industry worldiwide.

"Our programme will encompass Cloud, data centre services, workplace and network services, with application development and operations to provide an integrated, flexible and robust digital infrastructure to help drive Metro's transformation agenda," said the software vendor.

The Metronomians who will be transferred to Wipro will have access to innovations that will accelerate their careers.

"Partnering with Wipro allows us to streamline our IT operations and gives us access to innovation and best digital practices," said the Chief Information Officer at Metro, Timo Salzsieder, in the statement.

Wipro Chief Executive Thierry Delaporte said Metro was focused on leveraging digital transformation for competitive advantage.

"Our role is to make the transformation effective. Equally important is welcoming 1,300 Metro colleagues and ensuring their empowerment," said Delaporte.

Wipro plans to set up a digital innovation hub at Dusseldorf in Germany to support Metro and other clients in the region.

"The hub will serve as our flagship centre in Europe and enable organisations to cross skill and upskill, besides supporting talent development in local communities," said the statement. India's Wipro to 
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