

A Family Member Is Only A Trustee
A legacy of 350 years spanning 13 generations - that's what makes German healthcare and life sciences multinational Merck a much quoted example of family leadership continuity coupled with long-term sustainability of business. Business Today's E. Kumar Sharma spoke with Frank Stangenberg-Haverkamp, Chairman of the Executive Board and the Family Board of E Merck KG, headquartered in Darmstadt in Germany. Stangenberg-Haverkamp, 70, who was in India recently, is the 11th generation leader of the holding company and head of the family. He talks about the various issues that family-led businesses need to grapple with and how a family contract can help in smooth management of family businesses. Edited excerpts:The change in ownership of steel assets will turbo-charge the Indian steel industry.With many mining leases expiring next year, quick action is required to keep steel production on track.India is set to become the second largest user of steel in the world.The steel industry has been a major contributor to India's manufacturing output, but low profitability is a concern.Increased awareness about fitness is powering the sports and fitness wear market, giving segments such as athleisure a boost.NBFCs are scurrying around for funds to cope with falling market valuations, asset-liability mismatches and rising delinquencies.



No Chink In Android Q's Armour
The upcoming, and vastly improved, Android OS focusses on just the right areas - privacy, gestures, smarter AI and dark mode.In training an AI system to classify objects, researchers have helped it develop numerosity.