BUSINESS

McDonald’s Corp was sued on Tuesday by workers in Michigan who accused the fast-food chain of allowing pervasive sexual harassment to flourish at its restaurants nationwide. The proposed class-action lawsuit filed in a Michigan state court said McDonald’s “creates and permits a toxic work culture from the very top,” citing last week’s firing of a senior executive.



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While millennials, who have been driving credit demand by a large margin in the past 2 years, in what can potentially raise concerns for lenders, most of them have been taking the riskier unsecured loans, warns a report. The number of millennials — those born after 1980 — opting for a new loan grew 58% as against a 14% growth in the non-millennial segment.



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Europe’s largest life and pensions consolidator Phoenix Group has roped in Tata Consultancy Services (TCS) to transform its Standard Life business through the TCS BaNCS digital platform.



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The consumer affairs ministry on Monday come out with a set of draft rules that will bring deep discounts, one of the biggest driving forces of the e-commerce business, under scrutiny.



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Data released by the NSO on Monday showed the index of industrial production contracted 4.3% in September, the 2nd successive month of decline after the fall of 1.4% in August & lower than the 4.6% expansion posted in the year earlier period. Between April and September, the sector grew an annual 1.3% compared with a 5.2% expansion in the year earlier period.



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Vodafone said its future in India could be in doubt unless the govt stopped hitting operators with higher taxes and charges, after a court judgment over license fees resulted in a 1.9 billion euro group loss. Asked if it made sense for Vodafone to remain in India without any relief package, it said — “It’s fair to say it’s a very critical situation.”



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Union commerce and industry minister Piyush Goyal on Tuesday said some e-commerce companies are indulging in predatory pricing which is adversely impacting millions of small retailers. “It is important for e-commerce to follow the letter and spirit of the law,” he said at the BRICS trade ministers meeting in Brasilia.



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House economists at the nation’s largest bank SBI on Tuesday sharply slashed GDP forecast for the full year to a low 5%, and warned of financial instability if the central continues with its easy money policy in its bid to spur growth. The 2nd quarter GDP growth will print in at a lower 4.2%, they said.



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BSNL CMD Pravin Kumar Purwar said around 70,000 workers have already accepted the VRS, and he expects more to opt in before the closing date of December 3. “We have given a handsome VRS package and are confident that our target of 80,000 people opting for VRS will be met,” Purwar told TOI. VRS acceptance at BSNL has exceeded government’s initial estimate of 58,000 employees.



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Weeks after IT major Infosys faced a whistleblower complaint alleging unethical practices by its top officials, another such letter has surfaced accusing the company’s chief executive officer Salil Parekh of indulging in misdeeds and urging its board to initiate action against him.



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