10 things to know this week – Oct 14, 2016

Here are the ten interesting things to know this week, ended Oct 14, 2016.

India:
1) PM takes McKinsey’s help to get him a good ease of doing biz score
Senior-most bureaucrats from the PMO met representatives of McKinsey and top executives of the Indian subsidiaries of Boeing, Unilever, Coca Cola, ABB and Vodafone. Read more: [Economic Times]

2) Rural economy is a structural story, buy for next 3-5 yrs: Nilesh Shah, Kotak AMC
Nilesh says if there is a revival in the agriculture prices, then there will be more money flowing into the rural economy and there are a lot of rural facing companies benefitting from that. Read more: [ET Now]

3) Guess why insurance companies stay away or don’t sell policies in Gujarat
The claim ratio – claim paid by a company divided by total premium collected – is at about 130-140% for Gujarat, while it is 60-70% for the rest of the country. Read more: [Economic Times]

4) Four years under Cyrus Mistry’s watch, Tatas march to a new drumbeat
Cyrus Mistry, nearly four years into his tenure as Tata boss, is slowly steering the group in a new direction and growing out of the shadow of his predecessor. Read more: [Economic Times]

5) Infosys Cuts Sales Forecast Again as Clients Trim Spending
Infosys Ltd. cut its annual sales forecast for the second time in three months as growth slows in the banking and financial services sectors and clients adopt a more cautious spending approach. Read more: [Bloomberg]

6) Piramal Enterprises to buy 5 Janssen drugs for Rs 1164 crore
Janssen is the pharmaceutical arm of Johnson & Johnson. Piramal has agreed to acquire the brand names and all related IPs associated with the products, including the know-how to make both the active pharmaceutical ingredients and finished dosage forms. Read more: [Economic Times]

Global:
7) Cash is piling up faster than Warren Buffett can invest it
Nearly $73 billion piled up at Berkshire Hathaway, it’s 90-odd businesses generate roughly $1.5 billion in cash every month. Read more: [CNN Money]

8) Sorry, Wells Fargo. JPMorgan Chase is king of banks
JPMorgan Chase, which passed Wells Fargo in market value earlier this year, has been a favorite on Wall Street thanks to its solid results. Read more: [CNN Money]

9) Mark Cuban points to machine learning as the next ‘grand slam’ in technology
Pokemon Go may have sparked the world’s craving for augmented reality, but billionaire Mark Cuban says the industry still has a long way to go. Read more: [CNBC]

10) The Next Recession Is Coming. Big Deal.
In a Wall Street Journal survey, a group of economists “put the odds of the next downturn happening within the next four years at nearly 60 percent”. Read more: [Bloomberg]

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