(Bloomberg) -- India slapped taxes on fuel exports and local crude oil production to tap windfall gains from surging global prices. Mukesh Ambani’s Reliance Industries Ltd., the nation’s no. 1 fuel exporter, tumbled on the news.Most Read from BloombergUS Will Face High Gas Prices ‘as Long as It Takes,’ Biden SaysCrypto Meltdown Claims Rolex and Patek Philippe as VictimsThe Wheels Have Come Off Electric VehiclesStock Doomsayers Vindicated in Historic First Half: Markets WrapHow Europe Became the
MUMBAI (Reuters) -Reliance Industries said on Thursday it would open outlets of Pret A Manger in India under a franchise deal with the British sandwich and coffee chain, a first foray by the Indian firm in the country's growing food and beverage industry. Reliance Brands Ltd (RBL), a unit of the conglomerate that also runs India's biggest retail chain, would start by opening branches of Pret, as the brand is known in Britain, in big Indian cities, both companies said. RBL Chief Executive Darshan Mehta said in joint statement the partnership was "rooted in the strong growth potential" of the Pret brand, known for its organic coffee and upmarket sandwiches, and the Indian food and beverage industry.
What happened Easy come, easy go. The hope that Revlon (NYSE: REV) could turn into another Hertz following its bankruptcy filing is fading fast, as the stock continues to sell off this week after a trading frenzy caused its stock to double in value.