• IT returns to be processed in one day from current 63 days

    IT returns to be processed in one day from current 63 days
    Published Date : 17-Jan-2019 11:33:22IST

    Infosys will develop the next-generation income tax filing system, which will reduce the processing time for returns to one day from the current average of 63 days, the government said. The project, costing over ₹4,200 crore, will be completed in 18 months. Its objectives include faster and accurate outcomes for taxpayers and enhancing user experience at all stages, among others.

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  • Apple spends $150 million a year on United Airlines tickets

    Apple spends $150 million a year on United Airlines tickets
    Published Date : 16-Jan-2019 9:31:56IST

    A leaked internal United Airlines promotional sign on Twitter has revealed that Apple spends $150 million per year on airfare with the airline and books 50 seats daily on flights to China. Apple is followed by Facebook and Google who spend over $34 million on airfare with United Airlines. “This is confidential…Please don’t share outside of United,” the sign said.

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  • Flipkart Co-founder Sachin Bansal invests ₹150 crore in Ola

    Flipkart Co-founder Sachin Bansal invests ₹150 crore in Ola
    Published Date : 14-Jan-2019 4:09:48IST

    Flipkart Co-founder Sachin Bansal has invested nearly ₹150 crore ($21 million) in ride-hailing startup Ola in Series J funding round. He was issued 70,588 Series J preference shares at ₹21,250 per share, as per documents filed with the Registrar of Companies. Reports claimed Bansal has finalised an investment of up to $100 million in Ola, his largest personal investment.

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  • WhatsApp Co-founder to sell 10 Porsches, doesn’t have time to drive

    WhatsApp Co-founder to sell 10 Porsches, doesn’t have time to drive
    Published Date : 13-Jan-2019 11:59:14IST

    WhatsApp Co-founder Jan Koum is selling his 10 Porsche cars at a US auction on March 8 this year. “If I had unlimited time and unlimited garage space, I would never sell any of them,” said Koum. The cars include a trio of yellow Carrera RS models and a 2015 Porsche 918 Spyder Weissach which has covered only 32 kilometres.

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  • Jeff Bezos’ affair with married TV host led to divorce: Reports

    Jeff Bezos’ affair with married TV host led to divorce: Reports
    Published Date : 10-Jan-2019 4:58:08IST

    World’s richest man Jeff Bezos, who announced he and his wife MacKenzie were getting divorced, is reportedly dating TV host Lauren Sanchez. A helicopter pilot, Sanchez is married to Hollywood agent Patrick Whitesell, though they are reportedly separated. Reports said Bezos, who began seeing Sanchez only after separating from Mackenzie, announced the divorce to make his affair with Sanchez public.

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  • Technology won’t kill but create jobs: Narayana Murthy

    Technology won’t kill but create jobs: Narayana Murthy
    Published Date : 07-Jan-2019 11:06:11IST

    Infosys Co-founder Narayana Murthy has said that technologies like AI won’t render people jobless in future but create more opportunities. Giving the example of the UK, the US and Japan, he said, “[T]hose countries that absorb technology more enthusiastically, have reduced their unemployment much more than those which didn’t”. AI is an important topical area of computer sciences, he added.

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  • Buffett’s Apple stake value falls by $22 billion in 3 months

    Buffett’s Apple stake value falls by $22 billion in 3 months
    Published Date : 03-Jan-2019 4:56:03IST

    The value of Apple stake held by billionaire Warren Buffett’s Berkshire Hathaway has fallen by over $22 billion in the last 3 months. Berkshire’s more than 5% stake in the iPhone maker is now valued at about $36 billion. Last May, the world’s third-richest person said he’d love to see Apple shares decline in price so he could buy more.

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  • Sachin Bansal pays Rs 699cr tax on Flipkart gains

    Sachin Bansal pays Rs 699cr tax on Flipkart gains
    Published Date : 02-Jan-2019 10:03:38IST

    Flipkart founder Sachin Bansal has deposited Rs 699 crore as advance tax for the first quarter of 2018-19 which includes capital gains tax from his income on sale of Flipkart stake to US retail giant Walmart. His partner and co-founder Binny Bansal is yet to disclose the capital gains made on his stake sale in the e-commerce platform, sources in the tax department have said.

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  • Casinos In Macau Rake in $37.6 billion

    Casinos In Macau Rake in $37.6 billion
    Published Date : 02-Jan-2019 7:45:52IST

    MACAU Gambling revenue in Macau rose 14% in 2018, the second consecutive year of gain as demand to wager in the Chinese territory continued to rebound from a slump. December was also the 29th straight month where revenue in China’s only legal gambling hub rose versus the same month a year prior. Revenue rose 16.6% to $3.3 billion. Revenue for the full year was $37.6 billion). Revenue has stabilised since a period of decline, which coincided with a central government campaign against spending among public officials.

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  • Flipkart’s Binny asks for $100mn Walmart payout?

    Flipkart’s Binny asks for $100mn Walmart payout?
    Published Date : 19-Dec-2018 3:34:54IST

    Flipkart Co-founder and former Group CEO Binny Bansal has reportedly negotiated an immediate payout of $100 million from Walmart, with the remaining due by August 2020. As per his original contract, Binny would have received over half of his more than $850 million worth of stakes. He will continue to keep remainder of his stock in Flipkart, the report added.

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  • Please take it: Vijay Mallya offers to pay 100% back to banks

    Please take it: Vijay Mallya offers to pay 100% back to banks
    Published Date : 05-Dec-2018 11:28:43IST

    Ahead of his extradition hearing, liquor baron Vijay Mallya on Wednesday made a series of tweets saying, “I’m offering to pay 100% back. I humbly request the Banks and Government to take it.” Mallya, currently being investigated for defrauding Indian banks of ₹9,000 crore, said he borrowed the money to keep his now-defunct Kingfisher Airlines operational amid rising fuel prices.

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  • Pizza Hut opens 500th store in Indian subcontinent

    Pizza Hut opens 500th store in Indian subcontinent
    Published Date : 30-Nov-2018 11:58:47IST

    Pizza Hut announced the launch of its 500th store in the Indian subcontinent with the latest being opened in Delhi on Friday. The company also said that it plans to launch 200 more outlets in India by 2022. “Located at Laxmi Nagar, the 500th store is modelled on Pizza Hut’s new Fast-Casual format, which brings alive contemporary store design, convenient and faster service, and an open-kitchen which appeals to millennials,” said a Pizza Hut statement.

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  • Imported iPhones may be hit with 10% tariff: Trump

    Imported iPhones may be hit with 10% tariff: Trump
    Published Date : 27-Nov-2018 10:23:32IST

    US President Donald Trump has suggested that 10% tariffs could be placed on mobile phones, like the iPhone, and laptops imported from China. “I mean, I can make it 10%…people could stand that very easily,” Trump said, while adding that it “depends on what the rate is”. Apple’s stock fell about 1.6% in extended trading on Monday following Trump’s comments.

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  • Onion Price Hits Rock Bottom, Sells at Re 1 Per Kilo in Karnataka

    Onion Price Hits Rock Bottom, Sells at Re 1 Per Kilo in Karnataka
    Published Date : 21-Nov-2018 4:10:17IST

    The onion price has hit rock-bottom in the last one week and the growers are literally crying in Karnataka, one of the largest producers of India’s most essential vegetable. The onion is selling at Rs 100 for a bag of 100 kilograms in Hubli, Dharwad, Haveri, Gadag, Bagalkote, Belgaum, Davanagere and Chitradurga wholesale markets. A week ago, the price was about Rs 500 per quintal and it crashed to Rs 200 a day later.

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  • Infosys to create 1,200 jobs in Australia by 2020

    Infosys to create 1,200 jobs in Australia by 2020
    Published Date : 21-Nov-2018 11:11:21IST

    Software major Infosys on Thursday said it will be creating 1,200 jobs and opening three innovation hubs in Australia by 2020 to reduce digital skills gap. “We are creating 1,200 new skilled jobs for graduates and professionals and opening three innovation hubs by 2020 to accelerate digital leadership for our clients in Australia,” said the city-based IT behemoth in a statement here.

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