• World’s 500 richest people lose $35 billion in one day
    Published Date : 18-May-2017 1:25:28 IST

    The world’s 500 richest people lost $35 billion after global equity markets took a hit on Wednesday. This happened after reports claimed that US President Donald Trump asked FBI to end investigation into former National Security Adviser Michael Flynn. World’s richest person Bill Gates lost $1 billion, while second-richest Jeff Bezos lost $1.7 billion and became the world’s third-richest.

    Read More
  • India’s biggest IT firms to fire 58,000 employees
    Published Date : 11-May-2017 8:35:08 IST

    Seven of the biggest IT companies in India are planning to ask at least 58,000 engineers to leave this year. This is at least twice the number of employees laid off last year, reflecting the companies’ under-preparedness in adapting to newer technologies and US President Donald Trump’s protectionist policies. These firms include Wipro, Infosys, HCL, and Tech Mahindra, among others.

    Read More
  • Rolls-Royce, backstage jacuzzi for India tour
    Published Date : 03-May-2017 4:56:36 IST

    For Justin Bieber’s upcoming concert in Mumbai, the singer has demanded a Rolls-Royce, a backstage jacuzzi, and a convoy of ten luxury sedans and two Volvo buses, according to a press release. Further, two five-star hotels have been reserved for the artist, with one being converted into Bieber’s private villa with an elevator and three floors booked for him.

    Read More
  • HDFC Bank cuts 6,100 jobs in March quarter
    Published Date : 22-Apr-2017 12:18:09 IST

    India’s second-largest private sector lender HDFC Bank cut as many as 6,096 jobs in the January-March quarter owing to increased digitisation. This is the second straight quarter of job cuts by HDFC, which had cut over 4,500 jobs in the last quarter. There is room for more job cuts in the future, HDFC’s Deputy Managing Director Paresh Sukthankar said.

    Read More
  • Infosys to Ramp Up US Hiring Amid Visa Concerns
    Published Date : 17-Apr-2017 8:37:47 IST

    Infosys plans to focus more on local hiring in the US and is also looking at setting up development and training centres in the country as part of its efforts to tide over visa-related issues. Infosys has been in favour of a healthy mix of local and global personnel even though hiring locals in overseas markets often pushes up operational costs for IT outsourcing companies. With the US mulling over various measures to make visa norms stricter under the Trump administration, Indian IT firms have been contemplating tweaking their business models and accommodating more locals.

    Read More
  • Many Indians uninstall Snapchat on CEO’s ‘poor India’ remark
    Published Date : 16-Apr-2017 10:05:47 IST

    Many Indian Snapchat users are giving 1-star ratings and even uninstalling Snapchat app, on Snapchat’s CEO Evan Spiegel’s alleged remark of “I don’t want to expand into poor countries like India”. Spiegel had made the remark in 2015, according to a former Snapchat employee. Spiegel had also allegedly said, “This app is only for rich people”.

    Read More
  • Rs 1.5 crore dowry: Chaiwalla under I-T lens
    Published Date : 13-Apr-2017 9:36:06 IST

    The Income Tax Department has sent notice to a Rajasthan tea stall owner, Leela Ram Gujjar, after a video surfaced on the internet showing him giving a dowry of ₹1.5 crore. He recently married off his six daughters and four of them were allegedly underage. Gujjar has been asked to produce documents to show the source of the money.

    Read More
  • SoftBank preparing for Snapdeal’s sale to Flipkart
    Published Date : 05-Apr-2017 12:58:01 IST

    Snapdeal’s biggest investor SoftBank on Tuesday held a meeting with early investors, Kalaari Capital and Nexus Venture Partners, on the proposed sale of Snapdeal to Flipkart, reports claimed. While early investors asked for $100 million each for their stakes, Co-founders Kunal Bahl and Rohit Bansal also asked for a $100 million payout for themselves and their management team, reports added.

    Read More
  • Cognizant To Lay Off Over 6,000 Employees
    Published Date : 20-Mar-2017 12:56:58 IST

    Over 6,000 employees representing 2.3 per cent of the total workforce are likely to be laid off by Cognizant Technology due to non-performance. “We conduct regular performance reviews to ensure we have the right employee skill sets necessary to meet client needs and achieve our business goals. This process results in changes, including some employees transitioning out of the company,” a Cognizant spokesperson said.

    Read More
  • Tirupati Laddu turns Bitter for TTD, Causes Rs 140-cr Loss
    Published Date : 20-Feb-2017 9:53:34 IST

    The most sought-after ‘Tirupati Laddu’ has caused an annual loss of over 140 crore to the cash-rich administration of Lord Venkateswara hill shrine for the last three years owing to its subsidised price and free distribution to some devotees, temple sources said. The mouth-watering sweet dish has been sold by the TTD at a subsidised price of 25 per piece for the last 11 years while the actual cost was about Rs 32.50, sources said. TTD also incurs more loss Rs 10 per piece to devotees selling the laddu at who opt for free darshan.

    Read More
  • Warren Buffett dumped 90% of his Walmart shares
    Published Date : 17-Feb-2017 12:36:54 IST

    Billionaire investor Warren Buffett’s firm Berkshire Hathaway sold off nearly $900 million (₹6,000 crore) worth of Walmart stock last quarter, which was 90% of his stake left in the retailer. Buffett’s Walmart holdings, which were worth $3 billion last summer, are now down to less than $100 million. Notably, Buffett’s firm has quadrupled its stake in tech major Apple.

    Read More
  • Apple plans to make iPhones in Bengaluru
    Published Date : 30-Dec-2016 8:34:24 IST

    Apple plans to make iPhones for the Indian market in Bengaluru. Wistron, a Taiwanese OEM manufacturer for Apple, is setting up a facility in the city’s industrial hub of Peenya to manufacture iPhones. The facility will start production as early as April next year, said industry sources familiar with the development.

    Read More
  • 76% of Indians not on internet
    Published Date : 27-Dec-2016 7:49:29 IST

    At a time when the government is aiming to convert the country’s cash economy into a digital one, a study on Monday provided a reality check – nearly a billion Indians do not have an internet connection. Nearly 950 million people -out of a population of 1.25 billion or over three-fourths, do not have access to internet, according to a study .

    Read More
  • Kapil to get ₹110 crore for The Kapil Sharma Show
    Published Date : 07-Dec-2016 10:33:19 IST

    As per reports, comedian Kapil Sharma has signed a contract of ₹110 crore with Sony Entertainment Television for 2017 to return as the host of ‘The Kapil Sharma Show’. The comedian will reportedly be paid ₹60-80 lakh per episode. Kapil’s earnings of around $14.7 million will reportedly be more than Priyanka Chopra’s earnings of $11 million last year from ‘Quantico’.

    Read More
  • Despite Trump threat, IIT-Kanpur student gets Rs 1.5-crore offer
    Published Date : 04-Dec-2016 11:50:31 IST

    Despite Donald Trump’s tough stand against non-Americans, an IIT-Kanpur student has received a job offer of nearly Rs1.5 crore per annum from Microsoft to work in one of its US offices. This is the highest ever salary offer to a student of IIT-K, according to sources at the premier institute. The Delhi-based student has been offered a position at Microsoft’s headquarters in Redmond to design a software, implement it and fix the bugs.

    Read More