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<ul class="summary-list"><li>Asia's richest man is hosting a lavish wedding in Mumbai for his youngest son this weekend.</li><li>Local traffic police announce road closures, causing frustration among some Mumbai locals.</li></ul>Asia's richest man is throwing a <a target="_blank" class="" href="https://www.businessinsider.com/what-goes-into-planning-celebrity-wedding-ambani-india-millionaires-ceremony-2024-7">massive wedding</a> for his youngest son in Mumbai this weekend.Anant Ambani, son of <a target="_blank" class="" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani,</a> is set to wed Radhika Merchant in a lavish affair.It's expected to delight Bollywood celebrities, business leaders, and politicians who are all on the guest list. But one group of people are not pleased — city residents.Earlier this month, local traffic police posted a social media notice announcing road closures and diversions from Friday through Monday.The document, <a target="_blank" class="" href="https://x.com/MTPHereToHelp/status/1809236631905247702">posted</a> on X, noted that a large number of guests and VIPs would be in attendance and added that the measures were being taken "in order to avoid inconvenience" for guests. The notice and its wording, which also called the wedding a "public event" angered some locals who expressed their frustration on X, saying that Mumbai residents should not be disturbed so that a billionaire can throw a big party.Mumbai is seen as India's financial capital, and its Bandra Kurla Complex, where the wedding is taking place, is a major business district. The city is also the country's most populated, and traffic congestion is a headache for locals. Sonam Srivastava, CEO of Wright Research, whose office is adjacent to the Jio World Convention Centre, where the Ambani wedding is being held, told Business Insider that the venue has experienced "significant disruptions" due to traffic blockages. Srivastava added: "This situation has forced us to reschedule critical client meetings and events planned for these dates. It's alarming that traffic in such a prominent business district has come to a standstill, causing significant inconvenience to businesses, for a private event."The Ambani family hosted <a target="_blank" class="" href="https://www.businessinsider.com/ambani-wedding-guests-celebrities-performance-dress-code-party-billionaire-2024-3">pre-wedding parties</a> in Jamnagar in March, which were attended by some of the world's elite, including Bill Gates, Mark Zuckerberg, and Ivanka Trump.The Indian newspaper The Hindu Business Line <a target="_blank" class="" href="https://www.thehindubusinessline.com/news/variety/jamnagars-skies-jam-packed-with-sleek-jets-ferrying-ambani-guests/article67895288.ece">reported</a> at the time that about 150 planes descended into the local airport. An airport official told Business Line that the airport <a target="_blank" class="" href="https://www.businessinsider.com/ambani-wedding-rush-private-jets-prompts-extra-vip-passport-facility-2024-3">organized some extra capacity for the guests</a> by setting up a Customs, Immigration, and Quarantine center.

Asia's wedding of the year is seriously annoying locals in Mumbai

My flight was delayed by over 3 hours. The carrier did not compensate for it. Here's how it unfolded

<ul><li>Mumbai takes the top spot for being the city with the worst traffic flow in the world for the second consecutive year. </li><li>An average commute during peak hours in Mumbai takes 65% longer than usual travel time. </li><li>New Delhi is standing just a few spots away from Mumbai at fourth position.</li></ul>India’s financial capital,Mumbai, is seeing the worst traffic flow in the world, said a report by navigation technology firm TomTom said. While New Delhi stands just a few spots away from Mumbai at fourth position. The report studied congestion in 403 cities across 56 countries in six continents. Mumbai takes the top spot for the second consecutive year. An average commute during peak hours in Mumbai takes 65% more time because of traffic while it takes 58% longer in Delhi to travel during rush hours. The top five most congested cities in the world are Mumbai followed by Colombian capital, Bogota (63%), Lima in Peru (58 per cent), New Delhi (58 per cent) and Russian capital, Moscow (56%). Rising trend Traffic congestion has been rising globally over the last 10 years and all the cities included in the Traffic index report are either witnessing constant rise in traffic congestion or have been constant during 2017 and 2018. Out of the 403 cities included only 90 cities that have shown measurable decreases. Most of the decreasing trend was seen in Asian cities mainly in Jakarta where the congestion fell by 8%. Every city in South America posted an increase in congestion with Lima, Peru witnessing 8% increase. "Globally, traffic congestion is rising. And that's both good and bad news. It's good because it indicates a strong global economy, but the flip side is drivers wasting time sitting in traffic, not to mention the huge environmental impact," Ralf-Peter Schaefer, TomTom's Vice President of Traffic information said. The report suggested that the car makers, technology, companies and road authorities will have to design tool to make roads less congested.

India’s financial capital is dealing with the worst traffic congestion in the world and New Delhi isn’t too behind: Study

<ul><li>With the changing outdoor scenario, Madison has decided to launch an extension to its Traffic Count Tool.</li><li>As per the tool, Mumbai has seen an average recovery of 57% of traffic across key junctions while cities like Bengaluru and Delhi have recovery in the range of 65%-70%.</li></ul>The COVID-19 lockdown has significantly changed the user mobility (<keyword id="609600" type="PERSON" weightage="20" keywordseo="traffic-flow">traffic flow</keyword> patterns). The current traffic movements are very different when compared to the Pre-COVID Lockdown movements, and are quite unpredictable. Realizing this unpredictable outdoor scenario, Madison decided to launch an extension to its Traffic Count Tool. This tool will provide clients with legitimate data to help them note the actual changes in OOH mobility in the Post COVID lockdown era. Madison’s technology partner for this is <keyword id="9568356" type="UNKNOWN" weightage="20" keywordseo="admavin">AdMAVIN</keyword> – a Geo-spatial marketing solutions company, founded by alumni from IIT Madras. The extension of Traffic Count Tool utilizes the Google mobility reports. These reports are available for various countries and contain state-wise summaries for each touchpoint. The algorithm of Traffic Count Tool is updated to provide OTS based on the current OOH Mobility with a location level detailing. Mobility of a particular location is estimated based on the latitude and longitude of 25,000+ sites which have been tagged in the Madison OOH system across all major markets. A 1km vicinity to a particular location is mapped and the dispersion of touchpoints studied. A change % is determined and applied on the base line OTS to provide present day OTS numbers. The dataset provides the change compared to a baseline value for any given day of the week. The baseline defined by the Google Mobility report, is the median value corresponding to the respective day of the week, during the 5-week period Jan 3 – Feb 6 To further advance and enhance the Madison Traffic count tool, further granularity will be provided based on the market Population and Live Traffic flow data. The OTS COVID-19 update will help in providing current and realistic OOH estimations to clients and will be updated on a weekly basis. This will help in providing clients with real time OTS which are the best possible impression numbers that can be shared for OOH roadside media. The Traffic Count Tool can help provide OOH mobility data at key touchpoints and key markets. From the consumer in their work, live &amp; play arenas like retail and recreation, groceries, and pharmacies, parks, transit stations, workplaces, and residential points of interest respectively. Considering the dispersion of traffic, we see a difference in recovery basis the touchpoint spread and market. For e.g. Mumbai has seen an average recovery of 57% of traffic across key junctions while cities like Bengaluru and Delhi have recovery of movement to the range of 65%-70%. Although few locations have shown encouraging signs of traffic movement compared to Pre-COVID conditions, the majority of the locations range in the 57%-60% recovery. Smaller cities like Lucknow, Patna and Vijayawada have seen a 10%-15% point better recovery of traffic movement than the larger cities. <keyword id="89313" type="PERSON" weightage="20" keywordseo="Vikram-Sakhuja">Vikram Sakhuja</keyword>, Partner &amp; Group CEO, <keyword id="9568355" type="COMPANY" weightage="20" keywordseo="madison-media-ooh">Madison Media &amp; OOH</keyword>, said, “Thanks to traffic count data that we have built data tech partnerships in, it is now possible to track the post lockdown recovery of traffic on our metro roads. This should help build confidence amongst OOH advertisers.” Traffic at some key Junctions in Metro: <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Monthly Impressions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Pre covid </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Post covid 07/07 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">%Recovery </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">MumbaiWEH Bandra </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3040650 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1524278 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50.1 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Dadar TT </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2638170 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1746865 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">66.2 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Worli Naka </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2700630 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1071070 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">39.7 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Delhi Connaught Place </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2953350 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1769943 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">59.9 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Gurgaon Cyber City </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">4344000 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2054713 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">47.3 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bangalore Mg road </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2832840 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1781290 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">62.9 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Chennai- Mount road </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3271140 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1640639 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50.2 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Calcutta Park street </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3710430 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1892319 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">51.0 </td></tr></tbody></table>

Madison OOH extends its OTS Measurement Updates for COVID-19 Unlock times

<ul><li>Mumbai is now the most car-congested city in India with 510 cars for every kilometre. </li><li>Car density in Mumbai is five times more than that of New Delhi. </li><li>Pune, Kolkata, Chennai are among the top five most ‘car congested’ cities after Mumbai. </li></ul>Narrow roads and lack of parking regulation have all contributed to turning India’s financial capital Mumbai into the most car-congested city in the country. Mumbai’s car density rose by 18% in the last two years with 510 cars for kilometers of road, Times of India reported. The density is five times higher than that of New Delhi, which is also struggling with longer traffic jams and lower Air Quality Index, <a href="https://timesofindia.indiatimes.com/india/mumbais-car-density-5-times-that-of-delhi/articleshow/68553387.cms?from=mdr">reported</a> the Times of India. Other cities struggling with the problem of high car congestion include Pune with 359 cars per kilometre, followed by Kolkata with 319 cars per km and Chennai with 297 cars per km. The primary reason behind car-congestion is insufficient road space. The private car population of Mumbai is less than a third of Delhi but it has only 2,000km of road in comparison to 28,000 km road space in Delhi. The under-construction Mumbai metro network adds to the problem. There were only 430 cars per km in mid-2016, according to Maharashtra transport ministry data, <a href="https://timesofindia.indiatimes.com/india/mumbais-car-density-5-times-that-of-delhi/articleshow/68553387.cms?from=mdr">reported the Times</a> of India. However, the government <a href="https://www.hindustantimes.com/mumbai-news/mumbai-metro-work-causes-traffic-bottlenecks/story-yARZ73LiWSpMYFgfiKLTeM.html">expects</a> traffic to ease once the Metro project finishes by 2021. In mid-2016, car density in Mumbai was 430 cars per km, which has now gone up to 510, This has taken the total number of registered private cars to 1 million on city roads, roughly 28% of the total vehicular population in the city, which stands at 3.6 million, said the report citing an official. Nearly half the road space is occupied by private cars of all types including SUVs which is why the average speed on the Western Express highway is limited to 10kmph during peak hours. There is an urgent need to set up a parking authority which will overlook parking problems in the city and free up 50% roadspace in the city, said the reporting citing an official. The transport commissioners in the past have suggested people to using public transportation system but there’s little progress on it. See also: <a href="https://www.businessinsider.in/gurgaon-is-the-most-polluted-city-in-the-world/articleshow/68267574.cms">India accounts for 7 of the world’s 10 most polluted cities — with Gurugram ranked as the worst: Study</a>

Mumbai is now the most car-congested city in India: Report

<ul><li>Metro Manilla was named as the most congested city among 278 cities in Asia. </li><li>Benguluru is the fifth most congested city in Asia. </li><li>Surprisingly, <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> — which witnesses the worst traffic flow in the world — did not make it to the top 10. </li></ul>Traffic jams across the world are rising in number and intensity. It is costing countries time as well as money. In India, Delhi, Mumbai, <keyword id="6354925" type="LOCATION" weightage="20" keywordseo="kolkata">Kolkata</keyword> and Bengaluru together ends up <a href="https://qz.com/india/1255427/traffic-jams-in-delhi-mumbai-bengaluru-and-kolkata-alone-cost-india-22-billion-a-year/">losing $22 billion</a> a year because of traffic jams. According to a report by Asian Development Bank Metro Manilla was named as the most congested city among 278 cities in Asia. And, four of the top ten most congested cities in the list were Indian. Surprisingly, Mumbai — <a href="https://www.businessinsider.in/mumbai-is-dealing-with-the-worst-traffic-congestion-in-the-world-and-delhi-is-on-fourth-rank/articleshow/69672314.cms">which witnesses the worst traffic flow in the world</a> — did not make it to the top 10. “Cities experiencing more severe congestion may have invested more in road networks, but the networks remain far from sufficient to alleviate congestion,'' said a report by Asian Development Bank (ADB). ADB compiled the data for 278 cities using night-time lights images from the National Oceanic and Atmospheric Administration, grid population data from LandScan Datasets of the Oak Ridge National Laboratory and trip routes from Google Maps. Here are the 10 most congested cities in Asia — <div type="Slideshow" msid="71590388" hostid="261" title="These are the 10 most congested cities in Asia" firstImageMsid="71590466" slideCount="10"></div>

These are the 10 most congested cities in Asia

Mumbai, Apr 16 () Citing severe free cash flow issues, international rating agency Fitch has downgraded the ratings of Tata Motors to 'B' and also revised down the outlook on the company that owns the marquee British brands JLR to negative from stable. The company had a 'BB-' rating on its long-term issuer default ratings till this, but is now down to B, Fitch said in a note on Thursday. Both 'BB' and 'B' are below investment grade or junk status. This move will have negative consequence for the company's debt profile which will spike its borrowing cost. Below investment grade issuers of debt have to pay higher interest rate to investors as junk bonds are considered speculative. "The downgrade reflects our significantly lower expectation for the company's profitability and cash flow over the next few years due to the effect of the coronavirus pandemic on demand and disruption to its domestic operations as well as to key auto markets globally that are served through Jaguar Land Rover," Fitch said in the note. On the impact of the pandemic on its free cash flow, the agency estimates it could be a negative Rs 40,000 crore in Q1 of FY21 due to lower earnings and working capital mismatch caused by lower sales receipts, while payments continue to suppliers for past supplies. This is against Rs 63,000 core of free cash flow in the same time in FY19. The agency sees Tata Motors' consolidated revenue to decline by 12 per cent in FY21 due to the effect of the pandemic-related shutdown, which may rise by 8 per cent in FY22. Consolidated EBITDA margin will decline to 5.5 per cent in FY21 from 9 per cent in FY20 due to negative operating leverage and may recover to around 9 per cent in FY22, it said. Capex/revenue will fall to 12 per cent in FY21, in line with a prudent approach, but remain above 15 per cent in FY22, it said. In FY19, the company had Rs 8,700 crore in cash and Rs 1,500 crore in undrawn credit lines that mature in 2022, compared to Rs 3,580 crore and Rs 3,130 crore in scheduled maturities of long-term debt over 2020 and 2021, respectively. It also had Rs 7,720 crore in short-term debt which may be rolled over. The agency estimates consolidated EBITDA generation will drop nearly 50 per cent in FY21 and will remain below FY19 levels in FY22 even with a recovery. "We expect sharp deterioration in free-cash generation and leverage, as the company will have limited flexibility to lower heavy investment, despite lower profitability, particularly at JLR, as it needs to bolster its long-term competitiveness in view of emerging industry trends," the note said. The negative outlook reflects risks to Tata Motors' financial profile from a prolonged pandemic that can result in further deterioration in its profitability and exert greater pressure on its liquidity than we currently envisage, it said. Listing out the key reasons for the rating action, it cited sharply weaker profitability and substantially negative free cash flow as the major concerns. Covid-19 mitigation measures, including shutdowns, have affected its operations globally. As the global economy is set to plunge into the worst recession since the 1930s, this will cause double-digit fall in new auto sales, hurting the company's profitability due to lower absorption of fixed costs, despite some flexibility. "We expect recovery only in FY22, from a low in FY21, but volume is likely to remain lower than in FY20 in absolute terms," it said. This will see consolidated FY22 EBITDA remaining nearly 40 per cent lower than previously estimated. Domestic industry conditions remain weak, PV and CV volumes declining over 15 per cent and 25 per cent, respectively in FY20, while the same for Tata Motors has been sharper at 35 per cent. The pandemic will further weaken demand in FY21, as it will compound higher ownership costs following the BS-VI emission norms. JLR, which accounts for majority of consolidated EBITDA, has significant exposure to Europe and North America, two heavily affected regions, which together made up over 60 per cent of its FY19 volume. BEN ABMABM

Fitch downgrades Tata Motors, cites cash flow issues

<div class="KonaFilter image-container display-table"><div><div class="image on-image">sladkozapon/shutterstockA traffic jam in Mumbai.</div></div></div><ul class="summary-list"><li>With more than 6 billion people, the world is a crowded place and people need to get around. </li><li><keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">Transportation</keyword> data firm INRIX Research released a study of <a href="http://inrix.com/scorecard/">the most congested cities</a> in the world. </li><li>The study evaluated the traffic congestion in 1,360 cities in 38 countries and scored Los Angeles as the most congested city on Earth for commuters. </li><li><a href="https://www.businessinsider.com/category/overpopulation">Overpopulation</a> and inadequate infrastructure team up to make for horrible commutes. </li></ul>With more than six billion people, the world is getting to be a crowded place and those six people need to get around. More moving bodies in the world's largest cities mean some commutes are truly awful experiences. In 2018, the transportation data firm INRIX Research released a list of <a href="http://inrix.com/scorecard/">the most congested cities</a> in the world, which studied 1,360 cities in 38 countries and <a href="http://inrix.com/scorecard/">scored</a> Los Angeles as the most congested city on earth for commuters. "It is clear that congestion is a global phenomenon, and impacts businesses as well as commuters, small cities as well as large ones and developing as well as developed economies," INRIX wrote in the study. According to the study, congestion cost US commuters more than $305 billion in 2017, that represents an increase of $10 billion over the previous year. Read More: <a href="https://www.businessinsider.com/us-cities-drivers-save-most-money-ev-2019-1" target="_blank" rel="noopener">The 10 US cities where you save the most money by driving an electric car</a>.This is not a new problem. In 2004, <a href="https://www.brookings.edu/research/traffic-why-its-getting-worse-what-government-can-do/">Brookings</a> released a study that concluded population growth could damage a city's transportation capacity. Today, notable European cities suffering from congestion problems and horrible commutes include Moscow and London, while Bangkok and Jakarta are two cities in Asia that are experiencing clogged roads and packed subways. Here's a closer look at the seven cities the worst commutes in the world according to INRIX along with a selection of four other major cities in the top 25.

Here are 11 of the worst commutes in the world where drivers can spend more than 100 hours a year stuck in traffic

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.shutterstock.com/image-photo/traffic-jams-city-road-rush-hour-234239257">Shutterstock</a></div></div></div>The total solar eclipse of August 21 will be the first to slice across the US in 99 years, inspiring many Americans to pack up the car and drive to <a href="http://www.businessinsider.com/why-total-solar-eclipses-will-end-2017-6">totality</a>: the <a href="http://www.businessinsider.com/solar-eclipse-map-best-views-2017-8">path</a> of the moon's darkest shadow.In fact, up to 7.4 million people may journey to the 70-mile-wide, 2,800-mile long track where the moon will completely block the sun and reveal the star's wispy <a href="http://www.businessinsider.com/solar-eclipse-totality-corona-simulated-pictures-2017-8">corona</a>.That's according to Michael Zeiler, a cartographer at Esria, a mapping data and technology company.Zeiler has anticipated this moment since he first started <a href="http://www.businessinsider.com/total-solar-eclipse-chasing-airplane-experience-2017-8">chasing eclipses</a> 26 years ago. He's spent the past few years gathering data, plotting maps of the eclipse (and its surprising ramifications), and uploading them to his website, called <a href="https://www.greatamericaneclipse.com/" target="_blank" rel="noopener noreferrer">GreatAmericanEclipse.com</a>.Zeiler considers his "driveshed" maps some of his favorites. Like watershed maps that show how brooks, streams, and rivers move toward an ocean, his version shows where vehicles are most likely to flow toward a popular viewing location."I thought about about every populated point in the United States, and I asked the data: What is the quickest drive to totality?" Zeiler told Business Insider. "I discovered there's going to be about one or two dozen traffic congestion points that are going to be particularly severe."Here are the 12 biggest drivesheds Zeiler has identified, the cities they center on, and - by extension - the places most likely to be choked with gridlock traffic.

Soul-crushing traffic may plague the total solar eclipse - these maps reveal the worst choke points

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.flickr.com/photos/tomasfano/2708621790/sizes/l/in/photostream/">Flickr / Creative Commons</a></div>
Every quarter, car navigation system maker TomTom releases the results of its <a href="http://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=2&amp;cad=rja&amp;ved=0CDsQFjAB&amp;url=http%3A%2F%2Fwww.tomtom.com%2Flib%2Fdoc%2Fcongestionindex%2F2012-0704-TomTom-Congestion-index-2012Q1namerica-mi.pdf&amp;ei=p8PtUMStOIuO0QGqnoGIDg&amp;usg=AFQjCNF-Vg_cWsU4u9rYfw8Q87sPrkZPPg&amp;bvm=bv.1357316858,d.dmQ">Congestion Index</a>, a <a href="http://www.forbes.com/sites/jimgorzelany/2013/01/08/the-most-traffic-congested-cities-in-north-america/">breakdown of traffic</a> in North American <keyword id="6399501" type="UNKNOWN" weightage="60" keywordseo="Cities">cities</keyword>.
The results for Q2 of 2012 (April — June), compiled from GPS readings, may not be shocking (New York, LA, and Houston all make the list), but looking at the 20 cities in North America with the worst <keyword id="6361065" type="COMPANY" weightage="60" keywordseo="traffic">traffic</keyword>, there are a few surprises.
The <keyword id="6363635" type="UNKNOWN" weightage="60" keywordseo="congestion">congestion</keyword> figure, expressed as a percentage, represents the increase in overall driving times when compared to a "free flow situation" — when there is little traffic, such as at night.

The 20 North American Cities With The Worst Traffic

<ul><li>According to a CARE Ratings report, film exhibitors in India will lose at least ₹3,500 crore as cinema halls shutdown. </li><li>Rating agency Acuite expects a precipitous drop of over 50% in multiplex footfalls in the next 2-3 months. </li><li>The multiplexes chain are now considering approaching the government to seek a relief package, including deferment of certain taxes. </li></ul>Cinema halls in India have had a bad start in 2020. First of all, it had few hits that enthused the public like Baaghi 3 or Angreji Medium. As <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> spreads, halls across many cities shut down as per government orders. The management of theatres are now busy calculating the losses as 5,000 screens across the country are shut and even those that are open have nothing to bring people to as March and April releases like Rohit Shetty’s Sooryavanshi and Ranveer Singh’s 83 have been postponed indefinitely. The halls are losing ₹150 crore a week, <a href="https://www.exchange4media.com/marketing-news/coronavirus-bears-down-on-bollywood-with-no-ticket-sale-hiked-marketing-budget-103373.html">according to Shailesh Kapoor, CEO, Ormax Media. </a> The effect might be temporary says PVR Cinemas and Inox PVR cinemas, which has 822 screens in 69 cities, says the effect may be temporary and they look forward to better times. INOX, which has 624 screens in 68 cities too is confident about their growth as the lockdown lifts. But the investors do not share their confidence. PVR has witnessed a 43% decline in its decline in the last one month. Whereas the share price of INOX saw a 39% fall between February 18 and March 18. 
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 Rating agency expects 50% fall in multiplex footfalls 
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 Several rating agencies are convinced that there would be a ripple effect. Moreso, because scientists are yet to determine whether warm weather can reduce the spread of coronavirus in India or not. Even in that case, a possible social isolation is advised till June. Rating agency Acuite expects a precipitous drop of over 50% in multiplex footfalls in the next 2-3 months, particularly for those which are primarily located in retail malls at Tier I or Tier II cities. "Typically, the holiday season of April-June is the peak time for big movie releases. However, the latter may get postponed due to the Covid-19 crisis," said Suman Chowdhury, president (ratings) at Acuite Ratings and Research. This quarter is completely washed out says Carnival Cinemas 
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 A few multiplex chains however acknowledged the situation like Carnival Cinemas, a multiplex chain in India with 470 screens across 120 cities. “This quarter is completely washed out and shall be down at least 40-50% as compared to last year. One, because the movie line up was weak and then the Covid-19 impact in March. It is unfortunate that the business is affected so much, but human life is of most importance,” said Mohan Umrotkar, CEO Carnival Cinemas. Considering the losses, multiplexes chains might move to the government to seek a relief package, including deferment of certain taxes. Industry insiders contend that restricted cash flows and mounting incremental costs such as rentals and operational expenses have left the sector in an untenable financial position. According to a CARE Ratings report, film exhibitors in India will lose at least ₹3,500 crore every month. That is extra bad news for the industry which was already reeling from loss of revenue from CAA protests and riots in the last quarter. See also: <a href="https://www.businessinsider.in/finance/news/the-us-box-office-suffered-its-worst-weekend-in-more-than-20-years/articleshow/74657349.cms">The US box office suffered its worst weekend in more than 20 years</a> <a href="https://www.businessinsider.in/india/news/coronavirus-hits-akshay-kumars-sooryavanshi-and-ranveer-singh-starrer-83/articleshow/74593762.cms">Coronavirus hits box office — 83 release may be delayed and Sooryavanshi struggles</a>

Cinema halls lose ₹150 crore a week with lockdowns and delayed releases

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP</div></div></div>JCPenney says it stands to profit from turmoil in the <keyword id="6354851" type="ORGANIZATION" weightage="100" keywordseo="Retail">retail</keyword> industry that's causing Sears and Macy's to shut down stores. In an interview with <a href="http://www.cnbc.com/2016/08/17/cnbc-exclusive-cnbc-transcript-jc-penney-ceo-marvin-ellison-sits-down-with-cnbcs-courtney-reagan-on-power-lunch-today.html" target="_blank">CNBC</a> on Wednesday, JCPenney CEO Marvin Ellison revealed the bright side to other companies' woes."You've said that you hope to pick up some shoppers that perhaps are leaving Sears as Sears closes stores," CNBC's Courtney Reagan asked. "What about all the Macy's store closures? If a Macy's closes in a mall where there's also a JCPenney and/or Sears, what does that mean for you? What happens with traffic flows?"Here's what Ellison said:"Our historical trends tell us that it is a net positive to JCPenney. When we share a mall with Sears and they close, we gain market share. So it's a net positive for sales growth. When Macy's closes in a mall, historically, it's been a net positive," he said. Major store closures are "well telegraphed," he said, meaning JCPenney knows where and when store closures are happening. This allows the brand to immediately zero in on attracting customers to JCPenney. He also pointed out that these shuttered stores could be replaced in malls by places like restaurants or movie theaters, which don't directly compete with JCPenney and attract foot traffic. Macy's recently announced that it would be <a href="http://www.businessinsider.com/macys-closing-100-stores-2016-8" target="_blank">shuttering approximately 100 stores</a>, following six quarters of declining sales. <a href="http://www.businessinsider.com/macys-tour-and-business-analysis-2016-8" target="_blank">A recent trip to Macy's flagship store in Manhattan</a> shows just how neglected the once-prestigious brand now is.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Mallory Schlossberg/Business InsiderInside Macy's.</div></div></div>Similarly, Sears has been <a href="http://www.businessinsider.com/people-prefer-goodwill-to-sears-2016-2" target="_blank">struggling</a> and <a href="http://www.businessinsider.com/list-of-sears-and-kmart-stores-closing-2016-8" target="_blank">closing stores</a> as a result.<div class="KonaFilter image-container display-table"><div><div class="image on-image">SearsInside Sears.</div></div></div>Unlike these two ailing brands, JCPenney has been an anomaly: in its most recent quarter, it reported a 2.2% increase in comparable sales. "Since becoming CEO a year ago, the team and I have made considerable progress balancing the art and science of retail by improving our execution in omnichannel, marketing, store operations, supply chain and merchandising," Ellison said in a <a href="http://ir.jcpenney.com/phoenix.zhtml?c=70528&amp;p=irol-newsCompanyArticle&amp;ID=2196038" target="_blank">recent press release</a>. "There is still much work to do, but I am confident that our focus on sales growth, new technology and expense management will continue to accelerate our turnaround and create shareholder value." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/translate-clothing-tags-laundry-directions-wardrobe-symbols-2016-7">Here's what those symbols on your clothing tags actually mean</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hvcjcxNTE6ttLGFWiQpRaavwoMefQpBx" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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