• Alphabet becomes 2nd company with India-born CEO to hit $1 trillion value

    Alphabet becomes 2nd company with India-born CEO to hit $1 trillion value
    Published Date : 17-Jan-2020 3:29:57IST

    Sundar Pichai-led Alphabet on Thursday became the fourth US company to hit $1 trillion in market value and the second overall led by an India-born CEO after Satya Nadella-led Microsoft. The company joined Amazon and Apple in crossing the milestone. Pichai, who was appointed Google CEO in 2015, was given the additional responsibility as head of Alphabet in December 2019.

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  • Only jobs with reasonable income can tackle inequality in India: Murthy

    Only jobs with reasonable income can tackle inequality in India: Murthy
    Published Date : 06-Jan-2020 4:04:41IST

    Infosys Co-founder Narayana Murthy on Sunday said that the only way to tackle the issue of inequality in India is to create jobs that give a reasonable income. He added that people from agriculture should be moved to low-tech services and manufacturing, to boost their per capita income and ultimately increase their contribution to the GDP from the current 14%.

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  • Rich should pay more taxes than they currently do, including me: Bill Gates

    Rich should pay more taxes than they currently do, including me: Bill Gates
    Published Date : 05-Jan-2020 4:49:01IST

    Bill Gates, Microsoft Co-founder and the world’s second-richest person with a net worth of $113 billion as per Bloomberg, has said that the rich should pay more taxes than they do, and that includes his wife Melinda and himself. “The wealth gap is growing,” he wrote in his blog. “I’ve been disproportionately rewarded for the work I’ve done,” he added.

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  • Apple CEO Tim Cook’s annual pay drops to ₹83 crore in 2019

    Apple CEO Tim Cook’s annual pay drops to ₹83 crore in 2019
    Published Date : 04-Jan-2020 2:59:18IST

    The annual compensation of Apple CEO Tim Cook dropped to ₹83 crore ($11.56 million) in 2019, down 26% from ₹113 crore ($15.7 million) in 2018. It comprises a $3 million base salary, $885,000 benefits for expenses such as use of private jets and $7.7 million incentive bonus, which was lower due to Apple exceeding its sales target by only 28%.

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  • Onions for ₹8.9!

    Onions for ₹8.9!
    Published Date : 30-Dec-2019 8:34:08IST

    There was a time when retailers used to quote prices of vegetables for per kg on their shelves. As prices of onion shot up, they started quoting onion prices for 500gm in hope that it would cushion the shock for their customers. Now, the situation is such that a supermarket in Somajiguda is telling its customers how much onions cost for 100gm.

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  • Bezos in B-town

    Bezos in B-town
    Published Date : 27-Dec-2019 9:23:28IST

    The downturn may be cramping our economy, but we hear the new year will begin with a big-bang business trip to India by one of the world’s wealthiest men. Jeff Bezos arrives in town mid-January and is also scheduled to visit Bangalore, Amazon India’s headquarters, and probably New Delhi as well. His two-day Mumbai schedule is packed, the highlight being a meet-and-greet with Bollywood’s best and brightest who have already received their ‘save the date’ notification.

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  • Onion prices in Hyderabad reach ₹150 per kilogram

    Onion prices in Hyderabad reach ₹150 per kilogram
    Published Date : 05-Dec-2019 9:23:18IST

    The price of onion in Hyderabad has touched ₹150 per kilogram with some city residents demanding that the government offers subsidised rates to help people afford the vegetable. According to an onion trader, even damaged onions are being sold at ₹60 per kilogram. International trading company MMTC has placed an import order of 4,000 tonnes of onions from Turkey.

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  • WhatsApp Business makes ₹62L profit in 1st year of Indian operations

    WhatsApp Business makes ₹62L profit in 1st year of Indian operations
    Published Date : 28-Nov-2019 12:43:16IST

    WhatsApp Business platform has posted a profit of ₹62.3 lakh in its first year of operations in India in FY19, according to filings. WhatsApp’s Indian unit reported ₹6.84 crore in revenues, compared to zero revenues for FY18. In India, almost 10 lakh businesses use the Business app, whereas 50 lakh businesses are using the app globally, as per WhatsApp’s survey.

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  • Facebook was in talks to buy Fitbit but Google paid double: Report

    Facebook was in talks to buy Fitbit but Google paid double: Report
    Published Date : 02-Nov-2019 1:27:14IST

    Facebook was in talks to acquire US fitness wearables maker Fitbit before Google, however, the latter offered around double than what the social media giant was offering, The Information reported. Google on Friday announced it has agreed to acquire Fitbit for $2.1 billion. Google said the purchase is “an opportunity to invest even more in Wear OS”.

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  • Apple now holds $205.9 billion cash on hand, Q4 results reveal

    Apple now holds $205.9 billion cash on hand, Q4 results reveal
    Published Date : 31-Oct-2019 3:37:13IST

    Apple on Wednesday posted its fourth-quarter earnings results, revealing that the iPhone maker now holds $205.9 billion cash on hand. This, however, signifies a 2.2% drop in its cash pile from the last quarter, where it reported a cash pile of $210.6 billion. Apple posted $64-billion revenue for the quarter ending September, marking its highest Q4 revenue ever.

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  • Jeff Bezos loses world’s richest man title to Bill Gates

    Jeff Bezos loses world’s richest man title to Bill Gates
    Published Date : 26-Oct-2019 8:22:00IST

    Amazon founder and CEO Jeff Bezos has lost the title as the world’s richest man, paving the way for tenacious Bill Gates to grab the top spot after Amazon’s lacklustre Q3 results resulted in Bezos losing nearly $7 billion in stock value. Amazon shares fell 7 per cent in after-hours trading on Thursday, leaving Bezos down to $103.9 billion. Microsoft co-founder Bill Gates is currently worth $105.7 billion.

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  • Infosys loses ₹53,000 cr in value on whistleblower claims against CEO

    Infosys loses ₹53,000 cr in value on whistleblower claims against CEO
    Published Date : 22-Oct-2019 3:29:38IST

    Infosys lost ₹53,000 crore in market value after anonymous whistleblowers accused CEO Salil Parekh of “unethical practices” to boost short-term profit. Shares of the IT giant tanked as much as 16% on Tuesday, its biggest intraday fall since April 2013. Employees were asked not to fully recognise costs like those for employee visas to improve profits, the whistleblower letter alleged.

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  • We can be India’s 3rd largest employer after Army, Railways: Swiggy CEO

    We can be India’s 3rd largest employer after Army, Railways: Swiggy CEO
    Published Date : 20-Oct-2019 11:50:36IST

    Swiggy’s Co-founder and CEO Sriharsha Majety at a recent event said it won’t take long before Swiggy becomes the third-largest employer in India behind the Indian Army and the Indian Railways. He added that Swiggy could become India’s largest private-sector employer, ahead of TCS. However, Swiggy’s delivery executives aren’t directly on Swiggy’s payroll and are hired on a contractual basis.

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  • No. of crorepati taxpayers up 19% to 16,759

    No. of crorepati taxpayers up 19% to 16,759
    Published Date : 12-Oct-2019 7:29:40IST

    The No. of crorepati taxpayers shot up 19% during assessment year 2018-19, and those with incomes above Rs 5 cr rose 29%, showed data released by the tax department on Friday. The number of those declaring income above Rs 1 cr has gone up from 14,068 in 2016-17 to 16,759. The number of those with incomes above Rs 5 cr was up from 1,049 to 1,351. Persons declaring over Rs 100 cr as income rose from four to seven. The number of individual taxpayers—those who filed returns or in whose case tax was deducted at source but did not file returns— reached 8 crore in 2017-18, up from 7 cr in 2017-18.

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  • Amazon workers see sex clips recorded by home security cam: Bloomberg

    Amazon workers see sex clips recorded by home security cam: Bloomberg
    Published Date : 11-Oct-2019 3:42:37IST

    Review footage recorded by Amazon’s Cloud Cam security cameras sometimes includes clips of people having sex, Bloomberg reported citing sources. An Amazon spokeswoman said clips with ‘inappropriate content’ are scrapped to improve human reviewers’ experience. Even though some human reviewers in India work in restricted conditions, they pass these clips to non-team members, the sources added.

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