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<keyword id="7457881" type="General" weightage="100" keywordseo="private-credit" source="Orion">Private credit</keyword> deployments are likely to surpass the $10 billion mark in 2024, a report by a consultancy firm EY said on Wednesday. The January-June period saw private credit transactions of over $6 billion in 96 deals, and the last two-and-a-half years have seen over $20 billion being deployed in the emerging alternative serving the credit needs of Indian companies. Major deals were witnessed across real estate, infrastructure, and healthcare sectors in the first half of the year, the report by EY said. Domestic funds are gaining traction and market share in the private credit space leveraging local expertise and the influence of lower-cost domestic money, it said. The first half of the year saw <keyword id="23077048" type="General" weightage="20" keywordseo="reliance-logistics" source="keywords">Reliance Logistics</keyword> and Warehousing, Vedanta Semiconductors, and Matrix <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">Pharma</keyword> collectively raising approximately $1.3 billion, while real estate sector continued to be a focal point with borrowers such as <keyword id="20197996" type="General" weightage="20" keywordseo="prestige-group" source="keywords">Prestige Group</keyword>, <keyword id="21275229" type="General" weightage="20" keywordseo="puravankara-group" source="keywords">Puravankara Group</keyword>, Kalpataru Group, and Shapoorji Group being active. The firm's partner Bharat Gupta said private credit investments are at an all-time high, driven largely by growth-oriented strategies. "The outlook remains promising, though thorough due diligence and effective deal oversight are crucial to maximizing returns and managing potential risks," Gupta added. With the maturing of the system, there is a subtle shift towards performing credit deals in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> with funds increasingly engaging in sub-18% <keyword id="22335519" type="General" weightage="20" keywordseo="internal-rate-of-return" source="keywords">Internal Rate of Return</keyword> (IRR) transactions, the report said. In the high-yield segment, mergers and acquisitions/buyout deals, and bridge-to-initial public offering transactions have gained traction within private credit funding, it said. High-net-worth investors and family offices are increasingly participating in private credit as a key asset class, boosting the popularity of domestic funds, it added.

Private credit deals to touch $10 billion in 2024, says EY report

<ul class="summary-list"><li>"Shōgun" won 18 Emmys, breaking the record for most wins in one season.</li><li>The series initially seemed like a risky bet because it was a historical show with a non-English script.</li></ul>"<a target="_blank" class="" href="https://www.businessinsider.com/shogun-reviews-critics-game-of-thrones-drama-2024-2">Shōgun</a>" smashed the record for the most Emmy Awards won by a show in one season, once again proving non-English shows are worth investing in.During this year's Emmy Awards ceremonies, "Shōgun" took home 18 awards, beating the previous record of 13 held by the 2008 HBO miniseries "John Adams."Shōgun was also the first Disney show to win Outstanding Drama since the first season of Lost in 2005. In recent years, the award has typically gone to HBO series."Shōgun" is the latest in a string of foreign-language shows and movies — including 2019's "Parasite" and 2021's "<a target="_blank" class="" href="https://www.businessinsider.com/netflix-has-5-year-advantage-international-tv-squid-game-2021-10">Squid Game</a>" — that have found success in the US despite having a non-English script.But when FX first greenlit "Shōgun" as a limited series in 2018, it seemed like a risky gamble.<div type="image" title="shogun episode 1 pictured Hiroyuki Sanada as Yoshii Toranaga" height="2000" width="2667" msid="113396791" hostid="261" sizebytes="315048"></div>The last time James Clavell's 1975 novel, "Shōgun," was adapted into a miniseries in 1980, it was a hit with audiences and won three Emmys. However, FX's version featured a mostly Japanese cast, and most of the dialogue was in Japanese.<a target="_blank" class="" href="https://www.businessinsider.com/best-foreign-language-shows-on-netflix-2021-11">Foreign language shows</a> were not typically big hits in the US in the past, and even the cast and showrunner were surprised they made it this far.As "Shōgun" showrunner Justin Marks accepted the outstanding drama award, he thanked FX: "You guys greenlit a very expensive sub-titled Japanese period piece whose central climax revolves around a poetry competition. I have no idea why you did that, but thank you for your faith in this incredible team."<a target="_blank" class="" href="https://www.businessinsider.com/shogun-cast-fx-hulu-fumi-nikaido-hiroyuki-sanada-anna-sawai-2024-2">Hiroyuki Sanada</a>, who won his first best actor Emmy on Sunday for playing lead character Yoshii Toranaga, told <a target="_blank" class="" href="https://people.com/shogun-emmy-awards-record-hiroyuki-sanada-says-show-was-a-gamble-8712810">People</a> at an Emmys event ahead of the awards show: "I couldn't have imagined these kinds of things happening during the shooting. For me, it was a gamble."He added: "Because the show has 70 percent Japanese dialogue and then subtitles. Can people enjoy a 1600s feudal Japan story? But surprisingly, we got a great reaction. And also this nomination. So it's like I'm in a dream of dreams."After the first season's success, <a target="_blank" class="" href="https://www.businessinsider.com/shogun-season-2-renewal-release-date-cast-trailer-2024-4">Shōgun was renewed for two more seasons</a> despite originally being a limited series. Time will tell if its makers can build on their surprise success.

FX took a risky bet on 'Shōgun,' a limited prestige series in Japanese. It just won a record-breaking 18 Emmys.

It can be hard to keep up with what's "cool" in the tech world. Half the time, by the time you've figured it out, it's already passé. Or it's an <a target="_blank" href="https://www.businessinsider.com/guides/tech/apple-vision-pro-review">Apple Vision Pro</a> situation, where opinions vary on whether the device makes someone look <a target="_blank" href="https://www.businessinsider.com/apple-vision-pro-features-headset-wwdc-2023-6">cool</a> or like a <a target="_blank" href="https://www.businessinsider.com/apple-vision-pro-ready-player-one-black-mirror-simpsons-episode-2024-2">clown</a>. One thing that is definitely not "cool," it seems, is having a green text bubble.On Apple's iPhones, instead of conversations appearing in the typical gray and blue, text messages from non-Apple phones register as gray and a sort of hot green. Personally, I don't entirely get the fuss over the green-bubble question in text messages, but I know it's A Thing in American culture. A former coworker of mine has a whole rant about how on dating apps women would judge him for having an Android (well, that and living in New Jersey).Anecdotes aside, this form of supposed cyberdiscrimination has even gotten the attention of the federal government. In its <a target="_blank" href="https://www.businessinsider.com/apple-antitrust-lawsuit-justice-department-2024-3">antitrust lawsuit against Apple</a> alleging the tech giant has unfairly cornered the smartphone market, the Justice Department explicitly calls out<a target="_blank" href="https://www.businessinsider.com/antitrust-doj-lawsuit-apple-green-messages-android-2024-3"> the green-bubble issue</a>. In the filing, it says people without Apple devices often feel a "social stigma, exclusion, and blame for 'breaking' chats where other participants own iPhones." The department claims that's on purpose — it alleges Apple takes all sorts of measures to maintain a monopoly on smartphones and keep developers and consumers within its grip, including making the messaging experience when communicating with non-iPhone users different and weird.The ultimate reason that Apple causes friction with products it doesn't make is clear: to make money. What drives consumers, however, is worth pausing on. Sure, Apple has positioned the iPhone as the "cool" phone, but why do we care? What makes the blue iMessage bubbles the preferable color? Why do so many consumers see their buying habits as a sign of something bigger?"Consumers really care about using products and brands to express who they are to themselves and the world around them," Nailya Ordabayeva, an associate professor of business administration at Dartmouth's Tuck School of Business, said. "Brands that have a really well-established image, Apple's cool image, for instance, that they worked on to establish over the years — consumers really see that as a legitimate signal of their own coolness to themselves and other people."Apple has spent more than 15 years fostering an in-crowd/out-crowd scenario with the iPhone. The Cupertino, California, company has long cast itself as hyperinnovative and alluring, and the iPhone is the pinnacle of those efforts. <a target="_blank" href="https://www.businessinsider.com/watch-steve-jobs-first-iphone-10-years-ago-legendary-keynote-macworld-sale-2017-6">Steve Jobs</a> called the device a "revolutionary and magical" product when he introduced it in 2007, setting the tone for an aura that has persisted even as <a target="_blank" href="https://www.businessinsider.com/trader-joes-mini-tote-bags-stanley-cups-tiktok-consumerism-marketing-2024-3">many other trendy products have cycled through</a>. The iPhone keeps with Apple's minimalistic, sleek design philosophy and stays within a production process the company has tight control over. An Android device can look like anything and be from anyone — Samsung, Google, Motorola. There's only one iPhone, and there's no real cheaper version of it, either. Apple reinforces the design allure of the iPhone by generating excitement every time a new product comes out. Every announcement of a new iteration, no matter how small the changes are, is treated like a holy event. The image of people lined up outside the Apple Store on the day of an iPhone launch is implanted in our collective imagination. Apple <a target="_blank" href="https://www.businessinsider.com/apple-iphones-movies-bad-guys-knives-out-director-rian-johnson-2020-2#:~:text=Johnson%20says%20that%20while%20Apple,reflects%20favorably%22%20on%20the%20company.">won't let bad guys in movies have iPhones</a>, lest anyone get the wrong idea. And if you've ever watched "<a target="_blank" href="https://www.businessinsider.com/ted-lasso-emotional-intelligence-humility-leadership-2023-6">Ted Lasso</a>" or anything else on Apple TV+, you've perhaps noticed <a target="_blank" href="https://www.businessinsider.com/apple-iphone-13-notchless-ted-lasso-2021-8">iPhones and Apple products are ubiquitous</a>.By elevating the iPhone to the status of a prestige item, like a Louis Vuitton bag or a Mercedes car, Apple can play on consumers' desire to "keep up with the Joneses," to try to emulate those around them and not be left behind. People have a tendency toward conformity; we want to feel like we belong. That's especially pertinent for teens and young adults. They don't want to appear out of the loop or of lower status, like their families can't afford a higher-priced item."They're at a stage where they're trying to formulate their identity, and when you're trying to formulate your identity, you also figure out which social groups do you belong to, in which are you an insider and which are you an outsider," Joseph Nunes, a marketing professor at the USC Marshall School of Business, said. "And we all know that in the teenage years, being an insider, being left out, this really matters even more."<div type="image" title="Customers wait in line to buy iPhone 15 series phones at an Apple store in Hangzhou, East China's Zhejiang province, Sept 22, 2023. " height="3406" width="5145" msid="109002513" hostid="261"></div>This drive doesn't end in adulthood; it just shifts. Maybe a 30-something doesn't care about which phone they have (though many still do), but they do care about which car they drive and where their kids go to school. And they're probably still holding on to their iPhones, however they do or don't think it makes them look, because they're used to them. They're already in too deep, and the switching cost feels too high — especially if all their other devices are Apple.Humans are a hierarchical species. We look down to feel better about ourselves and look up to gauge where we stand on the scale. People seek ways to signal status in that social comparison setting, and having a supposedly attractive or special thing is a way to accomplish that. It's a form of "conspicuous consumption," a way to display your standing and wealth."Consumers who seek approval of others or are motivated by social dominance engage in conspicuous consumption to showcase their elitism to others," Joshua Clarkson, a consumer psychologist and marketing professor at the University of Cincinnati, told me in an email. "You could imagine both of these groups of consumers being heavily vested in iMessage (i.e., to not be the person with the Android on the group chat) as either a way to fit in (if seeking others' approval) or a way to exclude others (if driven by social dominance)." Some brands are good at playing into these predispositions. Luxury and prestige companies say their products are of higher quality, which is often true. But the functional attributes are reinforced by aspirational positioning — you can't just make something of a higher quality; you have to make people think it's worth more. That positioning allows companies to price their premium-perceived products accordingly. They advertise them with influencers and celebrities who align with their image. They often inject a sense of scarcity and urgency into the mix. While iPhones are ubiquitous, the latest versions, which also come with a new price point, are not.The societal context matters here, too, Nunes said: "We're in a period of society today that's got great inequality. And then that sort of reinforces this notion that there are the haves and the have-nots."There's nothing wrong with wanting an iPhone. In a world where some people are constantly seeking out prestige and status through their consumption, it would be stranger if there weren't some drive to have whichever phone is perceived as the best. And consumers are clearly picking up what Apple is putting down — at a nearly $3 trillion market cap, it's one of the most valuable companies in the world. But it's important to remember that having whatever the fancy thing is, ultimately, <a target="_blank" href="https://www.businessinsider.com/materialism-eroding-happiness-2014-8#while-we-regard-an-increase-in-consumer-spending-as-a-good-thing-for-the-economy-its-not-such-great-news-for-the-environment-or-for-our-individual-levels-of-satisfaction-2">doesn't make us happier</a>. Sometimes, it even <a target="_blank" href="https://carlsonschool.umn.edu/news/luxury-products-change-behavior-and-not-good-way">makes us more judgmental</a>, hence the whole green-bubble bias.We see the things we have as an extension of ourselves, perhaps especially our phones — it's where many people live a lot of their lives. iPhone bias probably isn't going anywhere, even if we're unaware of it."Brands are more than just the functional products that they offer, that they are this symbol of who consumers want to see themselves as and who they want to be," Ordabayeva said. Apparently, a lot of us want to see ourselves as iPhone users and all that comes with it. I switched from a Samsung to an iPhone in 2014. It just seemed like the thing to do, which is what Apple is banking on.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

The genius marketing trick that's the key to the iPhone's 'prestige'

New Delhi, Realty firm <keyword id="444094" type="General" weightage="20" keywordseo="Prestige-Estates-projects" source="Orion">Prestige Estates Projects</keyword> Ltd has reported a six-fold jump in its consolidated net profit to Rs 850.9 crore in the second quarter of this fiscal year on higher income. Its net profit stood at Rs 140.7 crore in the year-ago period. Total income rose to Rs 3,256 crore in the July-September period of 2023-24 from Rs 1,474.7 crore in the corresponding period of the previous year, according to a regulatory filing on Tuesday. During the April-September period of this fiscal, net profit increased to Rs 1,117.8 crore from Rs 345.6 crore in the year-ago period. Total income rose to Rs 5,222.3 crore in the first six months of this fiscal from Rs 3,486.5 crore in the same period of the last financial year. <keyword id="368714" type="General" weightage="20" keywordseo="Prestige-Estates" source="Orion">Prestige Estates</keyword> is one of the leading real estate developers in the country.

Prestige Estates Q2 2023-24 profit jumps 6-fold to Rs 850.9 crore

Realty firm <keyword id="368714" type="General" weightage="100" keywordseo="prestige-estates" source="Orion">Prestige Estates</keyword> on Wednesday said its sales bookings rose by 25 per cent to a record ₹12,930.9 crore in the last fiscal year on strong housing demand. In a regulatory filing, the Bengaluru-based firm said, "During the fiscal year FY23, the group registered record-breaking highest sales of ₹12,930.9 crore (up by 25 per cent year-on-year) and highest ever collections of ₹9,805.5 crore (up by 31 per cent y-o-y)." Sales bookings stood at 15.09 million square feet with an average realization of ₹8,812 per sq ft (up by 17 per cent year-on-year) for apartments/ villas/ commercial sales and an average realization of ₹4,124 per square feet (down 2 per cent y-o-y) for plot sales. The group sold more than 9,600 homes in FY23 spanning over 15 million square feet area. During the last fiscal, the new launches totalled 26.38 million square feet up by 57 per cent annually. The total completions during the last fiscal year stood at 15.68 million square feet, up by 10 per cent year-on-year. During the fourth quarter of the last fiscal, <keyword id="36786" type="General" weightage="20" keywordseo="Prestige" source="Orion">Prestige</keyword> Estates registered sales of ₹3,888.8 crore, up 19 per cent year-on-year and the highest-ever quarterly collections of ₹2,763.3 crore, up by 12 per cent year-on-year. It sold 4 million square feet area with an average realization of ₹9,761 per square foot (up by 26% yoy) for apartments/villas/commercial sales and average realization of ₹4,508 per square foot (up by 44 per cent yoy) for plot sales. <keyword id="74657" type="General" weightage="80" keywordseo="irfan-razack" source="Orion">Irfan Razack</keyword>, Chairman and Managing Director, <keyword id="217617" type="General" weightage="80" keywordseo="prestige-group" source="Orion">Prestige Group</keyword> said, "The company has achieved significant growth in the past year- with sales, collections, launches, and completions far surpassing the previous year's level." The success in the past year has been driven by its commitment to delivering high-quality projects and exceptional service to clients, he added. "We have been dedicated to expanding our property portfolio while maintaining a healthy balance of launches and completions. We are well-positioned to continue our upward trajectory, and we have set ambitious objectives for the next three years. "Our aim is to double our sales during this time, and we are confident that we have the right team and strategy in place to achieve this goal," Razack said. Venkat K Narayana, Chief Executive Officer, Prestige Group said, "We achieved a record-breaking highest sale of ₹12,930 crore, which is a remarkable increase of 25 per cent compared to the previous year's (high base) sales of ₹10,382 crore." <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> contributed about ₹2,700 crore to the total sales in the last fiscal, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-equity-markets-fall-for-third-consecutive-day-on-selling-in-it-banking-stocks/articleshow/99613243.cms">Indian equity markets fall for third consecutive day on selling in IT, banking stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mos-utility-whose-shares-are-up-30-from-issue-price-a-day-after-market-debut/slidelist/99611013.cms">All about MOS Utility whose shares are up 30 percent from issue price a day after debut</a>

Prestige Estates clocks record sales bookings of ₹12,930 crore in FY23, up 25% annually

<ul class="summary-list"><li>Dancers Arianna Davis, Crystal Williams, and Noelle Rodriguez are suing Lizzo.</li><li>They told Insider they want up-and-coming dancers to know how to spot unacceptable behavior.</li></ul>For up-and-coming dancers, landing a gig with a star can be a dream come true.It was for Arianna Davis, Crystal Williams, and Noelle Rodriguez — <a href="https://www.insider.com/arianna-davis-lizzo-former-dancers-alleges-toxic-workplace-lawsuit-2023-8">the three dancers who are now suing Lizzo</a> over what they say was a toxic and inappropriate workplace.The women — two of whom got the job with Lizzo after auditioning on her reality show "Watch Out for the Big Grrrls" — say they want up and coming performers to take note from their lawsuit that they should not stand for being mistreated in exchange for a prestigious career."I really want this to be a wake-up call, for artists and upcoming dancers, to prevent this from happening," Davis told Insider. "They're getting ready to film season two. I would never want for them to have the experience I had."An attorney for Lizzo and her representative didn't respond to Insider's requests for comment after the lawsuit was filed on Tuesday, and the star didn't comment publicly about the dancers' accusations until after this story was first published.In an Instagram post on Thursday, <a href="https://www.insider.com/lizzo-slams-outrageous-lawsuit-claims-former-dancers-unprofessional-2023-8">Lizzo called the dancers' allegations "outrageous" and "false." </a><h2>The dancers say one day in Montreal was a breaking point</h2><div type="image" title="Lizzo singing into a microphone while performing on stage and wearing a black and pink leather suit." height="1334" width="2000" msid="102365099" hostid="261"></div>Rodriguez didn't meet Lizzo through her show, and already had an established career in the industry, dancing for artists like <a href="https://www.insider.com/beyonce-omitted-lizzo-concert-break-my-soul-erykah-badu-2023-8">Beyoncé</a> and Megan thee Stallion. She was hired to perform in Lizzo's "Rumors" music video and stayed on the team.She told Insider she <a href="https://www.insider.com/arianna-davis-lizzo-former-dancers-alleges-toxic-workplace-lawsuit-2023-8">quit working for Lizzo</a> in May after she saw her lash out at Davis in front of other dancers, leaving some of them in tears. The lawsuit alleges Lizzo fired Davis that day in Montreal, about a week or so after the management team fired Williams.The women say in their suit that Lizzo charged after Davis and Rodriguez at a meeting that day, cracking her knuckles and balling up her fists. Rodriguez said she thought Lizzo was about to hit her."I felt, being a more seasoned dancer, this the kind of responsibility to just show other people that this kind of treatment is not OK," Rodriguez said, of quitting and later filing the lawsuit.Davis, Williams, and Rodriguez filed the lawsuit against Lizzo, her production company Big Grrrl Big Touring Inc, and and Lizzo's dance captain Shirlene Quigley in California Superior Court on Tuesday.The three dancers have accused Lizzo and her management team of a list of abuses, including sexual and racial harassment, fat shaming, and — in one case — false imprisonment.In the lawsuit, Davis alleged she was forcefully held at the meeting while Lizzo's team searched through her phone before she left."She humiliated me in front of the entire dance cast," Davis told Insider. "It was really a scary experience. I was trying to keep my cool."<h2>'This kind of treatment and disrespect is not OK'</h2><div type="image" title="Lizzo performs at FOMO Festival 2020 at The Trusts Arena on January 15, 2020 in Auckland, New Zealand." height="1333" width="2000" msid="102365101" hostid="261"></div>A month earlier, when Lizzo held a meeting to criticize the dancers for their recent performances, the women said, she made them "re-audition," spending 12 hours rehearsing without a break.Davis said she was so afraid of losing her job that she lost control of her bladder on stage and continued to dance with wet clothes."Even in light of what's happening with the <a href="https://www.businessinsider.com/why-sag-aftra-actors-wga-writers-unions-strike-hollywood">SAG-AFTRA strike</a>, the whole entire entertainment industry — the workers, the dancers, and the writers — we're all being done a disservice," Davis said. "We're always told to be grateful because everyone is very replaceable."The women said there's a limit to the kind of behavior that performers should put up with before standing up for themselves."Every single dancer in this industry has a horror story about how we were treated in their job," Davis said."You can speak up and share that this kind of treatment and disrespect is not OK," Rodriguez added.Editor's note August 3, 2023 [12 p.m.]: This story has been updated to include Lizzo's comments on the lawsuit, which she made after the story was initially published.

The dancers suing Lizzo want up-and-coming performers to know they don't have to be mistreated in exchange for prestige

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<ul><li><keyword id="6356895" type="General" weightage="20" keywordseo="Cyrus-Mistry" source="Orion">Cyrus Mistry</keyword> was once liked by Rata <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword>, who called him astute and humble, and later anointed him as his successor in 2012.</li><li><keyword id="6391150" type="General" weightage="80" keywordseo="mistry" source="Orion">Mistry</keyword> went on to become the sixth <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> chairman, and only the second without a Tata surname.</li><li>However, Mistry’s ascension to the top of India’s biggest conglomerate was short-lived, with <keyword id="6360722" type="General" weightage="50" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> himself ousting Mistry in a ‘palace coup’ in 2016.</li><li>Here’s a run down the memory lane of the history between the Mistrys and Tatas, India’s most prominent Parsi families.</li></ul>Cyrus Mistry’s untimely death in an accident near Mumbai has come as a shock to many, but it has also re-opened the saga of his prolonged battle with the Tata Group and Ratan Tata. Mistry was otherwise a very reclusive, private person, and not much is out in the public about his life. However, his battle with the Tata Group was as public and explosive as it could be, where he locked horns with Ratan Tata, the group’s managing trustee at the time, R Venkataramanan, and other senior officials. Mistry was the chairman of the Tata Group for four years, from 2012 to 2016. During his tenure as the chairman, Mistry is credited for turning around Tata Motors, but he seems to have ruffled feathers during his tenure. His reclusive nature meant he did not host a single press conference during his four years as the group chairman. But what could have gone so wrong that two of the most prominent Parsi families of the country ended up standing against each other, despite a partnership of over 90 years? <cmsannotation type="cmsannotation" annotationid="Tatas and Mistrys – how it all began" comment="subhead" text="Tatas and Mistrys – how it all began">Tatas and Mistrys – how it all began</cmsannotation> Tatas and Mistrys share nearly a century of relationship spanning over three generations. It all began in the 1930s when Shapoorji Pallonji acquired a 12.5% stake in Tata Sons – the owner of the Tata Group – from FE Dinshaw’s estate. The SP Group’s stake increased to 18.5% after a rights issue in 1996. Since then, the Pallonjis have remained quiet partners in the Tata Group. By some estimates, their investments amounted to just $11 million for the stake they have in the Tata Group, but the value of those investments has surged to several billion dollars over the years. Buffett who? <cmsannotation type="cmsannotation" annotationid="Who was Cyrus Mistry?" comment="subhead" text="Who was Cyrus Mistry?"><keyword id="14894773" type="General" weightage="20" keywordseo="Who-was-Cyrus-Mistry" source="Orion">Who was Cyrus Mistry</keyword>?</cmsannotation> Cyrus Mistry was the grandson of Shapoorji Pallonji and the son of Pallonji Mistry. He is survived by his wife and two children. Born in 1968, Mistry got a civil engineering degree from Imperial College London. He joined his family’s construction company, Shapoorji Pallonji &amp; Co., as a director in 1991. His connection with the Tata Group began in 2006, when he took up the mantle of a director a year after his father retired. He was subsequently elevated as the deputy chairman of the Tata Group. When Ratan Tata finally retired as the group chairman in 2012, Mistry replaced him and became the sixth chairman of the Tata Group – and only the second to not bear the Tata surname. <cmsannotation type="cmsannotation" annotationid="‘An appointment of convenience’, and not conviction?" comment="subhead" text="‘An appointment of convenience’, and not conviction?">‘An appointment of convenience’, and not conviction?</cmsannotation> Unlike Ratan Tata’s ascension to the throne as the head of the Tata Group, Mistry’s elevation was seen by some in the industry as an “appointment of convenience”, not conviction. Further lending credence to this thought is Ratan Tata’s eventual return as the Tata Group chairman in just four years. When Mistry entered his family business in 1991, Ratan Tata was elevated as the group chairman by his uncle, JRD Tata. Since then, the family patriarch has ruled over the group’s businesses. <cmsannotation type="cmsannotation" annotationid="How the Tata-Pallonji’s decades-long partnership broke down" comment="subhead" text="How the Tata-Pallonji’s decades-long partnership broke down">How the Tata-Pallonji’s decades-long partnership broke down</cmsannotation> Mistry, despite his reserved nature, pulled no punches when it came to steering the Tata Group’s future. He voiced his opposition to the group’s often expensive decisions – like the one to acquire Jaguar Land Rover, or rolling out Ratan Tata’s pet project, the ₹1 lakh Nano car. <div type="image" title="Ratan Tata Cyrus Mistry1" msid="94000761" hostid="261" sizebytes="84758" caption="&amp;lt;p&amp;gt;Ratan Tata and Cyrus Mistry&amp;lt;/p&amp;gt;"></div> Mistry also voiced his opposition to investing the cash sink that is the aviation business – Tata Sons eventually ended up acquiring a 51% stake in a $100 million venture, far above Mistry’s agreed promise of a 30% stake in a $30 million equity. Mistry’s ouster from the Tata Group has been called a ‘palace coup’ by many in the industry. His pushback against the Tatas and attempts to steer the group to a low-debt high-margin regime eventually led to his downfall. <cmsannotation type="cmsannotation" annotationid="An ugly, public spat" comment="subhead" text="An ugly, public spat">An ugly, public spat</cmsannotation> While Mistry liked to maintain a low profile, his spat with the Tata Group was as public as it could get. Eventually, Tatas’ relationship with Cyrus Mistry broke down so much so that Mistry was unceremoniously ousted as the chairman. This resulted in a legal tussle a few months later, going from the NCLT to the Supreme Court of India. India’s top court eventually ruled against Mistry, and dismissed a review petition filed by the SP Group earlier this year, thus bringing an end to the 6-year long ugly legal battle that frayed ties between India’s two most prominent Parsi families. SEE ALSO: <a href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">Cyrus and I shared a laugh last month on a bench in London, says former strategy head of Tata Sons</a> <a href="https://www.businessinsider.in/thelife/personalities/life-and-times-of-cyrus-mistry-the-most-low-profile-man-with-the-most-high-profile-exit/articleshow/93986896.cms">Life and times of Cyrus Mistry – the most low profile man with the most high profile exit</a> <a href="https://www.businessinsider.in/thelife/personalities/news/remembering-cyrus-mistry-10-things-to-know-about-the-former-tata-sons-chairman/slidelist/93994782.cms">Remembering Cyrus Mistry: 10 things to know about the former Tata Sons chairman</a>

Cyrus Mistry vs Tata Group – decoding the battle of prestige between India’s most prominent Parsi families

IEX, L&T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high

<ul class="summary-list"><li>The "luxury bourbon" market is hot in America and counterfeiters are cashing in, according <a href="https://www.nytimes.com/2022/01/06/dining/drinks/fake-bourbon.html?searchResultPosition=1">to a New York Times report</a>. </li><li>Scammers refill empty bottles of premium bourbon brands with cheap whiskey and sell them for thousands of dollars. </li></ul>So-called "luxury bourbon" is a hot trend in the American whiskey market and scammers are cashing in by selling bottles of premium brands refilled with cheap substitutes for thousands of dollars, according to a <a href="https://www.nytimes.com/2022/01/06/dining/drinks/fake-bourbon.html?searchResultPosition=1">report by The New York Times this week</a>. Counterfeiters are taking advantage of the boom in domestic sales of super-premium American whiskey, or bottles valued at more than $50. Demand is well-outstripping supply at the very high end of the market where bottles sell for at least $500 and the demand has created a thriving secondary market.The secondary market is showing up mostly within private social-media groups. Sales or trading in such groups is illegal although Kentucky and New York and some other places are loosening laws to allow private collectors to sell through an auction or to licensed retailers, the Times said. The report noted that sales of super-premium American whiskey nearly doubled to 4 million cases from 2016 to 2020, compared with an average growth of 30% for all American whiskeys, citing figures from the Distilled Spirits Council of the United States.The newspaper opened its report with an example highlighted by "<a href="https://www.insideedition.com/is-the-high-priced-and-rare-bourbon-you-are-buying-actually-counterfeit-inside-edition-investigates">Inside Edition" TV last May</a> in which an unidentified program producer was told by a Manhattan wine shop that a bottle of bourbon it was selling for about $1,000 was authentic. The Col. E.H. Taylor Four Grain bourbon was without the usual packaging of a special cardboard tube, and a strip stamp attached over the top of the cork was on backwards.The news producer took the purchased whiskey to Buffalo Trace, a Kentucky distillery that makes the Col. E.H. Taylor line of bourbon, for chemical analysis. The result: the bottle was refilled with cheap whiskey, resealed, then sold to the wine shop as part of a private collection.The New York Times reported that the wine shop said it had already pulled several bottles from the collection from its shelf and that it had offered refunds on bottles it had already sold. Buffalo Trace also makes Pappy Van Winkle, a brand that can command more than $5,000 on the secondary market, and demand has been picking up for bourbons made by other distilleries including alcohol-industry heavyweight <a href="https://markets.businessinsider.com/stocks/bf-a-stock">Brown-Forman</a>. ​​Both the Times and "Inside Edition" spoke with Adam Herz, a writer and producer in Hollywood best known for creating the "American Pie" franchise. The whiskey collector is an expert in counterfeit bottles, telling the Times his interest was piqued when he spotted brisk online sales of empty bottles of high-end whiskey. "$380 for a single bottle. Why? Because that bottle can be refilled and sold for way over $2,000," Herz told "Inside Edition," and estimated sales in the thousands of bottles of phony whiskey. "I've seen suburban dads <keyword id="12916149" type="UNKNOWN" weightage="60" keywordseo="counterfeiting" source="Orion">counterfeiting</keyword> just for an extra buck," he said.The Times said most distilleries are only slowly taking action on this matter and few are willing to admit the problem publicly as they fear encouraging counterfeiters and discouraging interest in their legitimate products. Many distilleries continue to package bottles with common shrink-wrap seals that can be easily faked.

The market for prestige whiskeys is drawing scammers and counterfeits as coveted bottles sell for thousands of dollars

<ul class="summary-list"><li>Rep. <keyword id="12198296" type="UNKNOWN" weightage="60" keywordseo="mikie-sherrill" source="Orion">Mikie Sherrill</keyword> said on Friday that Putin cared about being "isolated" from the world stage.</li><li>During a discussion on MSNBC's "Morning Joe," she discussed sanctions being imposed on the country.</li></ul>Rep. Mikie Sherrill — while discussing <keyword id="13216701" type="UNKNOWN" weightage="60" keywordseo="economic-sanctions" source="Orion">economic sanctions</keyword> being imposed on <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> as a result of their invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> — said that Russian President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword> cared about being "isolated" from the world stage.<a href="https://www.youtube.com/watch?v=seH98Q0-BGI">During a Friday appearance</a> on MSNBC's "Morning Joe," the New Jersey Democrat — a former US Navy helicopter pilot and ex-federal prosecutor — said that the US is pressing Western allies to sanction Russia's vast oil reserves while continuing to employ other sanctions against the country."Certainly, we've seen the economic pressure we've placed on Russia have an impact on their economy, their banks," she said. "We're moving on other countries asking them to sanction oil and gas."She continued: "But the problem is the disconnect. Does Putin even care about the people of Russia?"When cohost Mika Brzezinski asked the congresswoman about the impact that Russia would actually feel from such measures, Sherrill stressed that the US continued to closely target people in Putin's orbit — as well as the leader himself — to essentially box the country into a corner."This is a conversation I just had with a member of my district from Iran talking about what sanctions look like within a country being sanctioned and who it impacts," the congresswoman said. "That's why we're working hard to target the oligarchs, why we're working hard to target Putin himself."She added: "But there is a huge economic impact on the people of Russia and we're hoping that that has an impact. But Putin does not have a history of being particularly concerned about the Russian people. That said, what Putin does care about is being isolated from the world community. That really impacts him. He wants prestige. He wants power. And the more that we can isolate him and have him on an island, I do think that has an impact on him."Russian billionaire <keyword id="13568839" type="UNKNOWN" weightage="60" keywordseo="vladimir-lisin" source="Orion">Vladimir Lisin</keyword> on Monday said that the ongoing threat of <a href="https://www.businessinsider.com/what-are-sanctions-russia-ukraine-invasion-us-eu-uk-nato-2022-3">sanctions</a> from the West — including those that have already been placed on the nation's upper crust — will have a severe impact on the <keyword id="13431669" type="UNKNOWN" weightage="60" keywordseo="russian-economy" source="Orion">Russian economy</keyword>."Being forced into this reality is inevitably unsettling because sanctions are capable of destroying everything that had taken many years to create," he said, per an Insider translation of his <a href="https://www.kommersant.ru/doc/5293731">interview</a> with the Russian newspaper Kommersant.Since Russia invaded Ukraine in late February, the US — along with the EU and the United Kingdom — have imposed an array of economic sanctions against Russia, Putin, and many individuals <a href="https://www.businessinsider.com/russian-oligarchs-sanctions-putins-inner-circle-2022-3">in the Russian leader's inner circle</a>.

You Searched For "prestige" and got 13 results

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