The government will sell 5% of its stake in India’s largest insurance company, Life Insurance Corporation (LIC), through an initial public offering (IPO), of which 100% is offer for sale. LIC filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) on Sunday, thus setting the wheels in motion for the country’s largest-ever IPO.
Trust (41%) now outweighs even convenience (38%) and reliability (35%) as consumers’ top priority when picking a business, according to this ActionIQ survey. Personalization rates a distant 17%. The primary finding of the study is the companies consistently overestimate customer satisfaction with their experience. Lots of fun detail here by industry and experience type.
Apple iPhone supplier Foxconn has recently joined hands with Indian oil-to-metals company Vedanta to manufacture semiconductors in India. A memorandum of understanding has been signed among the two companies that will create a joint venture for manufacturing chips in the country. The collaboration of these companies supports the Indian Prime Minister’s vision to manufacture semiconductors in the country to counter the global chip shortage.
Google lashed out at the Department of Justice’s threat to break up the company, calling the proposals “radical.” Among other things, Google says the proposals would threaten users’ privacy, stifle innovation and break Android and Chrome. Given the appeals process, it will likely be years before we know whether Google will stay in one piece.