Business News | Page 160
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25 Jan 2017Business
Microsoft wins privacy case against US govt
A US court has defended Microsoft's legal right to deny sharing data it has stored overseas, with the US government.
24 Jan 2017Business
Vijay Mallya case: IDBI chairman, 7 others arrested by CBI
The CBI arrested 8 people including the former chairman and three staffers of IDBI Bank Ltd, and four Kingfisher airlines executives in a money laundering case connected to Vijay Mallya.
24 Jan 2017India
Budget giveaways uncertain due to demonetization distress
Finance Minister Arun Jaitley is under pressure to offer tax giveaways and increase capital and welfare spending in the upcoming union budget.
Uber's food delivery app UberEATS in India soon
Sources stated that Uber would soon make their on-demand food delivery service UberEATS, available in India.
23 Jan 2017Kishore Biyani
Future Group reassigns executive roles
India's largest retailer, Future Group, has reassigned roles of its top executive members and have also hired a new marketing head in order to push growth.
Railway safety fund may be announced in Budget
Sources stated that Rs.1 lakh crore dedicated fund for safety, which was announced a year ago, would have its first installment announced in the 2017 Budget.
23 Jan 2017Samsung
Faulty batteries caused Note 7 fires: Samsung
Samsung's probe into its Galaxy Note 7 chaos has revealed that the overheating and burning of phones was caused by defective batteries.
23 Jan 2017Business
Meru adds new services to up competition
In order to better compete with app-based cab hailing services, Meru has introduced new features, including a new range of cab categories.
BSE IPO launch today
The Bombay Stock Exchange is set for its IPO today, seeking to raise Rs.1,243.4 crore. Analysts say BSE's valuation is reasonable. It seeks to sell stocks at Rs.805-806 per share in the three-day IPO.
23 Jan 2017Business
United Spirts Q3 profits surge
Liquor major United Spirits Ltd reported a three-fold rise in profits during Q3 of the FY'16.
22 Jan 2017ICICI Bank
PhonePe stops UPI payments on Flipkart
Payment services firm PhonePe has issued a temporary halt to all UPI payments on Flipkart's Android application.
22 Jan 2017Business
Jaguar Land Rover India announces plant in Noida
Jaguar Land Rover India announced the opening of a a 3S facility that caters to sales, service and spare parts in Noida, Uttar Pradesh.
22 Jan 2017India
MakeMyTrip, ibibo merger cleared by CCI
Documents filed by MakeMyTrip to the US Securities and Exchange Commission show that the Competition Commission of India has approved its acquisition of Ibibo Group.
22 Jan 2017India
Infosys releases 9000 employees as automation kicks in
Infosys stated that it has released 8000-9000 employees in the last year as it has begun automation of lower-end jobs.
21 Jan 2017Flipkart
E-commerce sector losses could remonetize economy
E-commerce sector biggies like Flipkart, Snapdeal and Amazon have cumulatively reported an increase of 51% of total losses amounting to Rs.11,754 crore.
21 Jan 2017South Korea
Apple sues Qualcomm for $1 bn
Apple has filed a $1 billion lawsuit against American chipmaker Qualcomm Inc.
21 Jan 2017India
Budget'17: Service tax may be hiked to 18%
Sources said that the Centre may raise the service tax from 15% to 18% during the Budget 2017 as a precursor to rolling-out the GST.
21 Jan 2017Tata Consultancy Services (TCS)
Tata's new Chairman Chandrasekaran's litmus test
Chandrasekaran's appointment as group chairman is being keenly watched by industry leaders.
20 Jan 2017Business
Tesla's autopilot system not faulty: US investigators
A US National Highway Traffic Safety Administration (NHTSA) report released on 19th January found no fault in Tesla's Autopilot system in the deadly May 2016 accident which killed a driver using Tesla's Model S.
20 Jan 2017ICICI Bank
ICICI-PhonePe tussle: ICICI defies NPCI's directive
After a week-long tussle with Flipkart-owned PhonePe payments app, ICICI Bank has now defied a directive of National Payments Corporation of India (NPCI).
20 Jan 2017San Francisco
Uber to pay $20mn to "misled" American drivers
Uber has agreed to pay $20 million to settle allegations that it "misled" drivers with false promises on how much they would earn and pay to finance a car.
20 Jan 2017Bharti Airtel
Telecom spectrum holdings to rise
Telecom secretary J.S. Deepak stated that due to structural changes and consolidation, the telecom spectrum holding for all operators will rise to 40MHz from 18MHz in 2017.
19 Jan 2017Ratan Tata
National Company Law Tribunal rejects Mistry's plea
The National Company Law Tribunal has dismissed pleas by 2 companies owned by the Mistry family which alleged violations of NCLT directives in removing Mistry from Tata Sons' board.
19 Jan 2017India
Start-ups may receive tax benefits in Budget 2017
Nirmala Sitharaman, minister of Commerce and Industry indicated that in the upcoming Union Budget, start-ups are likely to receive additional tax-benefits.
18 Jan 2017India
Gen. Insurance companies to be listed on stock market
At a Cabinet meeting that took place on Wednesday, Finance Minister Arun Jaitley said that 5 general insurance companies were given the go-ahead to be listed on the stock market.
18 Jan 2017Evan Spiegel
Founders to retain control in Snapchat's IPO
Snapchat's Initial Public Offer will reportedly let its founders retain management control of the company despite of making its shares public.
17 Jan 2017India
Rolls-Royce to pay $813 million for bribery settlement
UK engineering giant Rolls-Royce, in exchange of avoiding prosecution over bribery charges, is set to pay over $600 million to Britain's Serious Fraud Office (SFO), $170 million to the US Department of Justice, and $25 million to Brazil's Ministério Público Federal.
17 Jan 2017Business
Practo raises $55 million, bets on Artificial Intelligence
Bangalore-based Practo, which lets consumers search and make appointments with doctors and health care providers raised $55 million in Series-D round led by its existing investor Tencent.
17 Jan 2017India
BSE IPO at Rs.805-806
BSE has fixed the price range of its IPO at Rs.805-806. It plans to raise at least Rs.1243 crore through the IPO, which will be open from Jan 23-25.
16 Jan 2017Samsung
Inside source reveals that faulty batteries caused Note 7 explosions
Samsung is set to release the official report of the investigation into the exploding Samsung Galaxy Note 7 phones on 23rd January.
IMF cuts India's growth rate
IMF has cut India's growth rate to 6.6% from the original estimate of 7.6%.
BigBasket and Grofers may be merging
Online grocers BigBasket and Grofers are reportedly in discussions since last November to merge.
Commonfloor founders quit
The three founders of Commonfloor.com, have quit the company, a year after it was acquired by Quikr for $200 million. They said they were "transitioning out to pursue other interests."
15 Jan 2017NITI Aayog
45 people become lakhpatis under NPCI schemes
The Centre revealed that its incentives of announcing lucky draws to encourage electronic payments had already made 45 people 'lakhpatis'.
15 Jan 2017Snapchat
Sony Entertainment CEO to join Snap Inc
Michael Lynton, the CEO of Sony Entertainment has stepped down to become chairman of the board of Snap Inc, owner of Snapchat.
14 Jan 2017Vietnam
PETA buys share in Louis Vuitton Moet Hennessey
Animal rights activist group PETA has bought shares in French luxury goods company Louis Vuitton Moet Hennessey (LVMH) in a bid to stop it from selling exotic animal skin products.
14 Jan 2017India
Ambani to invest fresh Rs.30,000 crore in Reliance Jio
Mukesh Ambani announced that he would be pumping in fresh funds- almost Rs.30,000 crore in Reliance Jio, his telecom venture.
14 Jan 2017KFC
McDonald's to sell 33% stake in Japan
Sources said McDonald's is planning to sell 33% stake in its Japan unit McDonald's Holdings Co Japan Ltd and has begun inviting bids for the same. McDonald's own only 50% of the unit.
13 Jan 2017India
Apple's plans of setting up a manufacturing plant in India
Apple, the world's most valuable company, is in the process of negotiating terms with India for setting up a manufacturing plant.
13 Jan 2017Kolkata
Kerala NDA Vice Chairman investor, director at Arnab's venture
Sources said Rajya Sabha member and Kerala NDA vice chairman Rajeev Chandrasekhar has invested over Rs.30 crore in Arnab Goswami's upcoming media venture, Republic.