Day: May 19, 2020

Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney

Amazon.Com Inc. (AMZN) is said to be interested in snapping up debt-strapped J.C. Penney Co. Inc., (JCP) in a deal that would bolster the online retailer’s apparel business, Women’s Wear Daily reported.

Shares in J.C. Penney plunged another 23% to $0.18 before being halted on Monday. The report comes after the U.S. apparel and home retailer on Friday filed for bankruptcy protection proceedings.

As part of its “renewal” plan, the Plano-based company said it will to cut its debt, streamline operations, close stores and spin off a real estate division in a move to come back

India’s labour law reforms a threat to gig workers: Extending social security benefits need of hour

(Express Photo by Arul Horizon)
  • Soumya Jha and Ulka Bhattacharyya

India is currently witnessing the COVID-19 pandemic spreading rapidly. Gig workers, who contribute
significantly to India’s workforce, have in this scenario, either been operating at the forefront, serving
essential needs of the locked-down population, or have travelled back to their native places having no source of income. In either case, gig workers face a future of uncertainty.

While some companies have been providing gig-work partners financial and medical reliefs, in the scenario of an imminent economic recession, immediate measures on part of the government may be needed to stem the

Focus should now be on manufacturing

The post-lockdown period must focus on commencement of big-ticket infra projects

Now that the lockdown period seems to be withdrawn at least in some parts of the country (green and yellow zones), some kind of positive sentiments are coming to the surface.

A special mention must be made of the transport and logistics sector that take the products to the consumers at the far end of the country. In later part of March and April 2020, the transport constraints did not allow the evacuation of materials from the production locations, nor was allowed the movement of finished materials from plant/warehouses