• Working towards 3 things: Ambani on what he’d like to be remembered for

    Working towards 3 things: Ambani on what he’d like to be remembered for
    Published Date : 20-Oct-2020 3:56:24IST

    On being asked what he’d like to be remembered for, Mukesh Ambani said he’s working towards three things. The first is to transform India into a digital society in ways never imagined before, while his second goal is to transform India’s education system to focus on skill. The third is to help India shift from fossil fuels to renewable energy.

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  • Large crowd seen at clothing store in Chennai, shop sealed after video surfaces

    Large crowd seen at clothing store in Chennai, shop sealed after video surfaces
    Published Date : 20-Oct-2020 3:54:56IST

    The Greater Chennai Corporation has sealed Kumaran Silks, a clothing store, after video of a large crowd within its premises surfaced. Officials said that they had issued a warning to the shop earlier but it had failed to implement any measures to control the crowd. “Shop owners and public are requested to strictly follow safety protocols,” Greater Chennai Corporation said.

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  • Infosys becomes 5th Indian company to hit Rs 5 lakh cr in market cap

    Infosys becomes 5th Indian company to hit Rs 5 lakh cr in market cap
    Published Date : 15-Oct-2020 11:32:18IST

    Infosys on Thursday became the fifth Indian company to hit ₹5 lakh crore in market capitalisation, with the stock having rallied over 50% so far this year. It is the second IT firm in the country after Tata Consultancy Services to achieve this milestone. Infosys raised its annual revenue growth forecast on Wednesday as it posted a better-than-expected quarterly profit.

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  • World’s biggest theatre chain says it could run out of cash this year

    World’s biggest theatre chain says it could run out of cash this year
    Published Date : 14-Oct-2020 3:34:26IST

    The world’s biggest movie theatre chain AMC Entertainment has warned that it could run out of money by the end of this year. The American company said attendance has declined 85% since it reopened its US screens in August. AMC, controlled by China’s Dalian Wanda Group, said it’s exploring several avenues to raise cash including asset sales and joint ventures.

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  • TCS becomes second Indian company to cross Rs 10 lakh crore in m-cap

    TCS becomes second Indian company to cross Rs 10 lakh crore in m-cap
    Published Date : 05-Oct-2020 5:00:05IST

    Tata Consultancy Services on Monday became the second Indian firm after Reliance Industries to achieve a market valuation of over ₹10 lakh crore. TCS shares jumped over 7% ahead of its board meeting later this week to consider a share buyback proposal. TCS last month became the second Indian firm to have a market valuation of over ₹9 lakh crore.

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  • 5% TCS to apply on funds above Rs 7 lakh sent abroad from today

    5% TCS to apply on funds above Rs 7 lakh sent abroad from today
    Published Date : 01-Oct-2020 3:28:24IST

    Tax Collected at Source (TCS) at a rate of 5% will be applicable on foreign remittances above ₹7 lakh in a financial year from today unless TDS has already been deducted on that amount. However, for overseas tour packages, TCS will be applicable irrespective of its value. Restricted TCS of 0.5% will apply for remittances towards loans for pursuing education.

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  • Covid-19 effect: Disney Parks to fire 28,000 US employees

    Covid-19 effect: Disney Parks to fire 28,000 US employees
    Published Date : 30-Sep-2020 3:24:02IST

    Disney Parks is letting go of 28,000 US employees due to impact of the ongoing the pandemic on Disneyland and Walt Disney World. Two-thirds of these employees are part-time workers. Disney Parks chairman Josh D’Amaro wrote a letter to employees, saying that this was “the only feasible option we have” due to the Covid-19 pandemic forcing the parks to limit capacity and the ongoing closure of Disneyland in Anaheim, California, reports variety.com.

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  • Trump or his companies paid more taxes in India than he did in US in 2017

    Trump or his companies paid more taxes in India than he did in US in 2017
    Published Date : 28-Sep-2020 3:49:11IST

    US President Donald Trump paid $750 in taxes to the US government in 2017 while he or his companies paid $145,400 in taxes in India the same year, The New York Times reported. Trump or his companies also paid $15,598 in taxes in Panama and $156,824 in the Philippines in 2017. Trump dismissed claims in the report as “fake news”.

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  • Future of work hybrid, not 100% remote: Google CEO Pichai

    Future of work hybrid, not 100% remote: Google CEO Pichai
    Published Date : 28-Sep-2020 3:23:21IST

    Google CEO Sundar Pichai said he doesn’t feel work in the future will be 100% remote. He added that Google is “reconfiguring” its physical spaces to support employees and accommodate what he called “on-sites”, places where employees can gather. He said the future will have “hybrid models” of work and “will definitely be more flexible.”

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  • If lowest-paid worker gets Rs 2-3 lakh/year, CEO should get Rs 70-80 lakh: Murthy

    If lowest-paid worker gets Rs 2-3 lakh/year, CEO should get Rs 70-80 lakh: Murthy
    Published Date : 22-Sep-2020 4:06:08IST

    Infosys Co-founder Narayana Murthy said that a company’s managerial remuneration has to be a fair multiple of the compensation of the lowest-level employee. For example, if the lowest-paid employee’s remuneration was ₹2-3 lakh a year, the CEO’s remuneration should be ₹70-80 lakh, Murthy added. He also urged for a fair balance of power in companies to check scams and frauds.

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  • Tesla in talks to set up research centre in Bengaluru: Reports

    Tesla in talks to set up research centre in Bengaluru: Reports
    Published Date : 21-Sep-2020 3:47:45IST

    Elon Musk-owned American electric vehicle company Tesla reportedly held initial talks with Karnataka government officials to discuss setting up a research facility in Bengaluru. State officials are now expected to present a detailed proposal to Tesla executives later this month, as per reports. Musk in July had said that Tesla cars will be available in India by 2020.

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  • World’s biggest furniture brand IKEA to set up global office in B’luru

    World’s biggest furniture brand IKEA to set up global office in B’luru
    Published Date : 18-Sep-2020 3:31:11IST

    The world’s biggest furniture brand IKEA said it will open a new global office in Bengaluru that will focus on global business operations, digital technologies and innovation. IKEA currently has such facilities in Poznan (Poland), Shanghai (China) and Baltimore (US). India’s large talent pool is one of the key reasons behind selecting the location, the Swedish furniture giant said.

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  • Bill Gates Sr, father of Microsoft co-founder, dies at 94

    Bill Gates Sr, father of Microsoft co-founder, dies at 94
    Published Date : 16-Sep-2020 11:08:47IST

    Bill Gates Sr., a lawyer and the father of Microsoft Co-Founder Bill Gates, died on Monday from Alzheimer’s disease at the age of 94. He helped his son establish what became the Bill & Melinda Gates Foundation. “My dad was the ‘real’ Bill Gates. He was everything I try to be and I’ll miss him every day,” Bill Gates wrote.

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  • TCS becomes 2nd Indian company to cross Rs 9 lakh-crore in market valuation

    TCS becomes 2nd Indian company to cross Rs 9 lakh-crore in market valuation
    Published Date : 14-Sep-2020 3:40:07IST

    Tata Consultancy Services (TCS) on Monday became the second Indian company after Reliance Industries to attain a market valuation of over ₹9 lakh crore. The company’s market valuation went past the ₹9 lakh crore-mark in early trade helped by a rally in its share price. TCS is also the first Indian IT company to cross ₹9 lakh crore in m-cap.

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  • Reliance becomes 1st Indian firm to cross $200 bn in market value

    Reliance becomes 1st Indian firm to cross $200 bn in market value
    Published Date : 10-Sep-2020 3:54:20IST

    Asia’s richest man Mukesh Ambani’s Reliance Industries on Thursday became the first listed Indian company to cross $200 billion in market capitalisation. Shares of the oil-to-telecom conglomerate surged over 8% to a record high after Bloomberg reported that it’s offering to sell a $20 billion stake in Reliance Retail to Amazon. India’s second-most valuable company TCS is worth $119 billion.

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