• 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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  • ₹4.5 crore cash seized during I-T raids on ex-K’taka Deputy CM

    ₹4.5 crore cash seized during I-T raids on ex-K’taka Deputy CM
    Published Date : 11-Oct-2019 3:38:15IST

    Around ₹4.5 crore cash was seized in the Income Tax raids conducted at Congress leader and former Karnataka Deputy CM G Parameshwara’s residence and two medical colleges linked to him, a senior official said. As many as 30 premises were searched by the I-T Department as part of its investigation into alleged sale of government quota seats in three institutes.

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  • Facebook plans to invest in tech startups in India

    Facebook plans to invest in tech startups in India
    Published Date : 27-Sep-2019 11:25:55IST

    Social media giant Facebook is preparing to make substantial direct investments in technology startups in India, Facebook India MD Ajit Mohan said. “We’re willing to spend our time and energy to tap the massive depth of engineering talent in the country,” he added. Earlier in June, Facebook made its first investment in an India-based startup, in Bengaluru-based e-commerce platform Meesho.

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  • Infosys 3rd best regarded company in world

    Infosys 3rd best regarded company in world
    Published Date : 24-Sep-2019 1:06:49IST

    For the first time in recent years, an Indian company is among the top 5 in Forbes’ annual list of the World’s Best Regarded Companies. Infosys stood at No. 3 in the 2019 list, after Visa and Ferrari. It was at No. 31 last year, and then too, it held the best rank among Indian companies. Infosys was followed this year by Netflix, Paypal, Microsoft, Walt Disney, Toyota, Mastercard and Costco in the top 10. Tata Consultancy Services (TCS) stood at No. 22, up from No. 35 in 2018.

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  • Apple to invest $1 bn to expand iPhone production in India

    Apple to invest $1 bn to expand iPhone production in India
    Published Date : 17-Sep-2019 12:27:47IST

    Apple is reportedly investing $1 billion through its partners to expand the manufacturing of iPhones in India. The move by the American technology giant comes amid the trade war between the US and China, which could result in Apple being forced to hike prices. A past report had claimed that Apple is planning to expand production to Vietnam alongside India.

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  • Azim Premji sells ₹7,300 crore worth shares in Wipro buyback

    Azim Premji sells ₹7,300 crore worth shares in Wipro buyback
    Published Date : 12-Sep-2019 7:28:40IST

    Azim Premji and entities controlled by him have sold shares worth ₹7,300 crore during Wipro’s buyback offer that closed last month. Post the buyback, the promoter holding in the IT services company stands at 74.05% compared to 73.83% earlier. Notably, Premji has contributed $21 billion to his education-focused Azim Premji Foundation, which includes 67% of economic ownership of Wipro.

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  • KIA Motors to start exports through Chennai Port from September 20

    KIA Motors to start exports through Chennai Port from September 20
    Published Date : 06-Sep-2019 11:46:32IST

    South Korean carmaker KIA Motors will begin exporting vehicles manufactured at its new Anantapur plant via the Chennai Port Trust. The first lot, which is expected to be shipped on September 20, will contain 500 vehicles and the volume will be increased gradually. KIA Motors India COO Jong Soo Kim said the company manufactured 6,000 cars in the first month.

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