JW Marriott Mumbai Juhu Welcomes Roberto Apa as Executive Chef of Mezzo Mezzo, ET HospitalityWorld
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JW Marriott Mumbai Juhu appoints Roberto Apa as exec chef Italian at Mezzo Mezzo
Apa brings together handcrafted recipes and the best locally sourced ingredients to create unforgettable culinary experiences. With an idea to personally engage with his tables, Apa promises to surpass guests expectations.
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Economic Times
40 minutes ago
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Tata Motors' Iveco takeover to fuel global CV ambitions but not without risks
MUMBAI: Tata Motors has agreed to acquire Italian commercial vehicle maker Iveco in what would become its largest-ever acquisition, surpassing the 2008 Jaguar Land Rover (JLR) deal. The acquisition of Iveco, Europe's fourth-largest truck and bus maker maker, is widely seen as a strategic move by Tata Motors to elevate its commercial vehicle (CV) business from a mainly domestic focus into a significant global Motors offer is aimed at acquiring 100% of Iveco's common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania. "This combination is a strategic leap forward in our ambition to build a future-ready commercial vehicle ecosystem," said Girish Wagh, executive director of Tata Motors. "By integrating the strengths of both organisations, we are unlocking new avenues for operational excellence, product innovation and customer-centric solutions."He said the combination of Tata Motors and Iveco would allow them to cater to diverse mobility needs across markets, delivering sustainable transport the deal, Mumbai-based Tata Motors would gain access to advanced electric vehicle and hydrogen powertrain technologies, a broader product lineup, and immediate entry into several new markets. With minimal overlap in product lines and geographies, the merged entity would have annual sales of over 540,000 vehicles and combined revenues of around Rs 22 billion (Rs 2.2 lakh crore). Operations would span Europe (50%), India (35%), and the Americas (15%), with a growing presence in Asia and Africa, the companies said in a joint statement. The partnership is expected to enhance innovation in sustainable mobility, improve operating leverage, and unlock efficiencies by sharing capital investments across a larger volume base. It will also enhance Iveco's powertrain arm, FPT, expanding its global reach and capabilities, it said. The deal excludes Iveco's defence business, which is being spun off and sold to Italy's Leonardo in a separate transaction."This acquisition will help Tata Motors become a global player-an ambition it has harboured since it acquired Korean commercial vehicle maker Daewoo Motor in 2004, but which remained largely unfulfilled," said VG Ramakrishnan, managing partner at Aventeum Advisors, a transaction advisory the domestic front, Tata Motors' share in the CV market has been declining amid rising competition and product gaps in key segments. It fell to 37.1% in FY25 from 41.7% in FY23, according to data from the road transport ministry's Vahan portal. Earnings, however, improved thanks to better realisation and cost control despite pressure on volumes. The acquisition of Iveco could thus plug one of Tata Motors' most critical weaknesses."It will also help Tata Motors strengthen its position in the significant intermediate commercial vehicle (ICV) segment, where rival Eicher has a strong presence and Tata has struggled," said Mahantesh Sabarad, an auto industry expert. "But the timing of this deal is delicate, given the CV business is being separated and prepped for re-listing sans passenger vehicles. An acquisition of this size could be a bit of a stretch for the company," said Sabarad, referring to Tata Motors' plan to split its passenger and CV businesses into separate listed entities. Iveco's technology is not new to Indian roads. In 1987, the Italian company became a shareholder and technology partner in Ashok Leyland, helping launch a new generation of trucks powered by Iveco engines and platforms. Though the Hinduja Group bought out Iveco's stake in 2007, its engineering legacy continues to influence Ashok Leyland's product design. Market reaction to the news has been mixed. Tata Motors shares closed nearly 3.5% lower on Wednesday after reports emerged of the potential acquisition.
Mint
an hour ago
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Meta faces antitrust investigation in Italy for embedding AI in WhatsApp: Here's what happened
Italy's antitrust regulator has launched a formal investigation into Meta Platforms over claims that it misused its market dominance by integrating its artificial intelligence tool into WhatsApp without securing user consent. The Autorità Garante della Concorrenza e del Mercato (AGCM) announced on Wednesday that the probe focuses on potential breaches of European Union competition laws. It alleges that Meta's integration of its AI assistant into WhatsApp, introduced in March 2025, may have disadvantaged rival services by directing users toward its own tools. According to the regulator, the Meta AI assistant was embedded into WhatsApp's search bar, effectively introducing a new service within an existing one. The AGCM raised concerns that this move may have compelled users to interact with Meta's AI by default, undermining fair competition and limiting consumer choice. 'By linking Meta AI with WhatsApp, the company appears to be leading users into the new AI service not through competitive merit, but by combining two separate functions in a way that may harm rival providers,' the authority stated. Meta, which owns WhatsApp, confirmed it was cooperating with the investigation. In a statement, a spokesperson said, 'Offering free access to our AI features in WhatsApp gives millions of Italians the choice to use AI in a place they already know, trust and understand.' The AGCM said it was acting in coordination with the European Commission's relevant offices. As part of the investigation, officials from the authority, supported by Italy's Guardia di Finanza special antitrust unit, conducted inspections at Meta's Italian subsidiary. Under EU regulations, companies found guilty of abusing a dominant position can face fines of up to 10 per cent of their global annual revenue. This investigation adds to the growing scrutiny of large technology companies operating in Europe, particularly around the deployment of artificial intelligence tools and how these impact competition in digital markets. (With inputs from Reuters)
Time of India
an hour ago
- Time of India
Tata Motors' Iveco takeover to fuel global CV ambitions but not without risks
MUMBAI: Tata Motors has agreed to acquire Italian commercial vehicle maker Iveco in what would become its largest-ever acquisition, surpassing the 2008 Jaguar Land Rover (JLR) deal. The acquisition of Iveco, Europe's fourth-largest truck and bus maker maker, is widely seen as a strategic move by Tata Motors to elevate its commercial vehicle (CV) business from a mainly domestic focus into a significant global force. Tata Motors offer is aimed at acquiring 100% of Iveco's common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Data Science Others others CXO Leadership Design Thinking Technology Operations Management MBA Project Management Product Management Degree Healthcare Finance Cybersecurity MCA Public Policy Digital Marketing Data Analytics Management PGDM healthcare Artificial Intelligence Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details "This combination is a strategic leap forward in our ambition to build a future-ready commercial vehicle ecosystem," said Girish Wagh , executive director of Tata Motors. "By integrating the strengths of both organisations, we are unlocking new avenues for operational excellence, product innovation and customer-centric solutions." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Neuropathy Socks Are Going Viral in Australia TourmaRelief He said the combination of Tata Motors and Iveco would allow them to cater to diverse mobility needs across markets, delivering sustainable transport solutions. Through the deal, Mumbai-based Tata Motors would gain access to advanced electric vehicle and hydrogen powertrain technologies, a broader product lineup, and immediate entry into several new markets. With minimal overlap in product lines and geographies, the merged entity would have annual sales of over 540,000 vehicles and combined revenues of around Rs 22 billion (Rs 2.2 lakh crore). Operations would span Europe (50%), India (35%), and the Americas (15%), with a growing presence in Asia and Africa, the companies said in a joint statement. Live Events The partnership is expected to enhance innovation in sustainable mobility, improve operating leverage, and unlock efficiencies by sharing capital investments across a larger volume base. It will also enhance Iveco's powertrain arm, FPT, expanding its global reach and capabilities, it said. The deal excludes Iveco's defence business, which is being spun off and sold to Italy's Leonardo in a separate transaction. "This acquisition will help Tata Motors become a global player-an ambition it has harboured since it acquired Korean commercial vehicle maker Daewoo Motor in 2004, but which remained largely unfulfilled," said VG Ramakrishnan, managing partner at Aventeum Advisors , a transaction advisory firm. On the domestic front, Tata Motors' share in the CV market has been declining amid rising competition and product gaps in key segments. It fell to 37.1% in FY25 from 41.7% in FY23, according to data from the road transport ministry's Vahan portal. Earnings, however, improved thanks to better realisation and cost control despite pressure on volumes. The acquisition of Iveco could thus plug one of Tata Motors' most critical weaknesses. "It will also help Tata Motors strengthen its position in the significant intermediate commercial vehicle (ICV) segment, where rival Eicher has a strong presence and Tata has struggled," said Mahantesh Sabarad, an auto industry expert. "But the timing of this deal is delicate, given the CV business is being separated and prepped for re-listing sans passenger vehicles. An acquisition of this size could be a bit of a stretch for the company," said Sabarad, referring to Tata Motors' plan to split its passenger and CV businesses into separate listed entities. Iveco's technology is not new to Indian roads. In 1987, the Italian company became a shareholder and technology partner in Ashok Leyland, helping launch a new generation of trucks powered by Iveco engines and platforms. Though the Hinduja Group bought out Iveco's stake in 2007, its engineering legacy continues to influence Ashok Leyland 's product design. Market reaction to the news has been mixed. Tata Motors shares closed nearly 3.5% lower on Wednesday after reports emerged of the potential acquisition.
