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22 Feb 2017Tata Consultancy Services (TCS)
Chandrasekaran announces strategic priorities for Tata Sons
On his first day in office, Tata Sons Ltd's new chairman Natarajan Chandrasekaran outlined three strategic priorities for the group: bring the group closer and leverage collective strength; reinforce a leader's mindset in operating companies for greater rigour to capital allocation and deliver superior returns to shareholders.
22 Feb 2017Vishal Sikka
NSE, BSE seek clarification from Infosys over whistle-blower's allegations
India's two biggest stock exchanges, the National Stock Exchange and Bombay Stock Exchange, have sought clarifications from Infosys on allegations of the fraudulent acquisition made in two anonymous emails against the management of the IT company.
22 Feb 2017Snapdeal
Snapdeal fires 600 employees, founders take a 100% paycut
According to reports, Indian e-commerce firm Snapdeal is letting go 600 of its employees in order to cut back on spending.
Budget fallout - Cigarette prices hiked by ITC
India's largest cigarette maker ITC is all set to increase the price of its leading product range by as much as 13% as a fall out of the excise duty hike proposed in the Budget early this month.
22 Feb 2017Business
SpiceJet announces Luck 7 sale till February 25
SpiceJet has launched its 'Lucky 7' sale from February 22-25, offering domestic tickets starting at Rs 777 on select routes.
Flipkart looking to raise $1.5 billion from Microsoft
E-commerce giant Flipkart is amidst talks in order to raise a funding round of up to $1.5 billion from investors including Microsoft, eBay, PayPal Holdings and Tencent Holdings.
Nestle lost Rs. 100 crore over demonetization
Nestle stated that its businesses sustained a Rs. 100 crore loss in sales due to demonetization, adding that the FMCG sector may take several months to recover.
21 Feb 2017State Bank of India (SBI)
Bharat QR latest to join govt bouquet of payment apps
Giving another thrust to the drive towards a digital-economy, the government has launched a QR code-based payment system called BharatQR code.
21 Feb 2017Uber
Former US Attorney General to lead Uber probe
Former US Attorney General Eric Holder will lead the probe into sexual assault allegations against Uber, made by a former employee.
21 Feb 2017Mukesh Ambani
Reliance Jio extends free offer for 100 million customers
To celebrate 100 million-strong telecom customers base, Reliance Industries chairman Mukesh Ambani today announced a new Jio Prime offer beginning April 1, 2017.
21 Feb 2017Vishal Sikka
Infosys CEO writes to employees against "libellous" allegations
Following allegations of fraudulent acquisition of Israeli automation firm Panaya, Infosys CEO Vishal Sikka has written to his employees a strongly-worded letter refuting all those allegations.
21 Feb 2017Tata Consultancy Services (TCS)
N Chandrasekaran new Tata Sons chief from Feb 21
N. Chandrasekaran will assume charge as Tata Sons chairman on February 21. A day earlier, he was named TCS chairman, after serving as its CEO since 2009.
21 Feb 2017Central Bureau Of Investigation (CBI)
CBI books former chief AP Singh in corruption case
The CBI has named its former director A.P. Singh as an 'accused' in an alleged corruption case, where meat exporter Moin Qureshi is named as a middleman.
21 Feb 2017KPMG
US private equity firm in talks with Indira IVF hospitals
Three US-based private equity firms, Carlyle Group, Warburg Pincus and TPG Growth, are in separate talks with infertility clinics chain Indira IVF to acquire minority stakes, leading to a possible valuation of Rs. 4,000-5,300 crore.
21 Feb 2017Arun Jaitley
Three railway PSUs listed for divestment
The government today started listing three of its fully-owned railway PSUs, namely Indian Railway Catering and Tourism Corporation (IRCTC), Indian Railway Finance Corporation and engineering-construction company IRCON limited for divestment.
21 Feb 2017Business
Unitech fined for project delays
The Supreme Court has directed Unitech to pay a fine for delays to its projects that caused hardships to home buyers.
21 Feb 2017Business
DLF to invest Rs.3500 cr to complete projects
Real Estate giant DLF will invest Rs. 3500 crore this year in a bid to fast-track completion of all its housing projects.
20 Feb 2017Tata Consultancy Services (TCS)
TCS to buy back 5.6 crore shares, at Rs2850 each
Returning surplus shares to shareholders in the biggest shares buyback, the Tata Consultancy Services today announced that it will repurchase about 2.85% of its share capital for Rs. 16,000 crore.
20 Feb 2017Business
No merger offer with Unilever: Kraft
Kraft Heinz has withdrawn the $143-billion merger with Unilever Plc, saying the premature publicizing of their offer, made it difficult for them to negotiate with Unilever.
20 Feb 2017Mumbai
GVK reducing debt to finance Navi Mumbai airport
Sources said that GVK Power & Infrastructure (GVKPIL) is working on reducing its debt to finance the construction of the Navi Mumbai International Airport.
20 Feb 2017India
Flipkart signs on Microsoft cloud service
India's largest e-commerce firm Flipkart, has signed up to use Microsoft's Azure cloud service platform.
20 Feb 2017Uber
Sexual harassment claims rock Uber
A former Uber engineer, Susan Fowler, has revealed via a blog, multiple instances of harassment, sexual and otherwise, that she faced while working at Uber for a year.
20 Feb 2017India
BharatQR code launched today for seamless payments
To enable seamless retail payments, the government today launched BharatQR code. The quick response (QR) code will enable digital payments without card swiping machines.
19 Feb 2017Delhi
Ola, Uber restart services amid ambiguity on strike
Ola and Uber restarted services in Delhi. However, unions representing Ola and Uber claimed the strike was still on. Commuters were able to book taxis, albeit at higher rates and with longer wait times than usual.
19 Feb 2017India
Council clears compensation for GST bill
The GST Council has cleared a bill, seeking to provide compensation to states for losses they may incur after rolling out the GST.
19 Feb 2017Mauritius
Record $46.4 in FDI inflow, in spite of global fall
FDI inflows into Indian economy increased by 18% to a record $46.4 billion (INR 3112 billion) in 2016 even though global economic growth remained weak.
19 Feb 2017South Korea
Samsung chief Lee's journey from $4 million mansion to jail
Jay Y Lee who lived in a $4 million mansion in Seoul is now in "6.56 square meter (71 square foot) detention cell with a toilet in the corner behind a partition."
19 Feb 2017GST
Service tax officials summon GSTN chief on evasion charges
The service tax department has summoned Prakash Kumar, CEO of Good and Service Tax Network (GSTN), for possible evasion of tax on software services received from IT major Infosys. However, Kumar has denied receiving any such notice from the tax department.
18 Feb 2017Tesla Model S
Premium sedan Lucid Air eyes Tesla Model 3 market
California-based Lucid Motors is the latest automotive vehicle manufacturer to foray into the luxury electric sedan segment with their debut product 'Lucid Air'.
18 Feb 2017Reserve Bank Of India (RBI)
New SEBI Chief's tenure cut short
Ajay Tyagi's appointment as new SEBI Chairman was approved and announced by the government just last week.
18 Feb 2017Ratan Tata
Investors pump in Rs 102 crore in Urban Ladder
The Bengaluru-based online furniture store Urban Ladder has raised about Rs 102 crore in a Series E round from existing and new investors.
18 Feb 2017Business
Kraft proposes merging with Unilever
Kraft Heinz, American food giant, reached out to Anglo-Dutch consumer good giant Unilever with a $143 billion merger proposal: news of the proposal led to Unilever's shares soaring 9 percent.
18 Feb 2017India
RBI mulls linking MDR charges with merchant revenue
The RBI wants to scrap the current system of flat Merchant Discount Rate (MDR) and link the charge in proportion to the annual revenue of the merchant.
17 Feb 2017Flipkart
E-commerce sellers will pay 2% tax at source in GST
E-commerce giants like Amazon, Flipkart and Snapdeal are trying to convince the government to scrap from the final Goods and Services Tax draft, the 2% tax that e-commerce marketplaces collect from sellers on their platform.
17 Feb 2017India
Rs. 2000 notes printed when Rajan was governor
Reports revealed that even though the Rs. 2000 bears the signature of current RBI governor Urjit Patel, the printing began when Raghuram Rajan was in office.
17 Feb 2017Reserve Bank Of India (RBI)
Axis-Kotak merger talk rife in spite of official denial
Shares of private banks Axis Bank Ltd and Kotak Mahindra Bank Ltd have shot up by 3.38% and 8.31%, respectively, since December amid speculations of a potential merger among them.
17 Feb 2017Evan Spiegel
Snapchat reportedly sets IPO at a whopping $19.5bn-$22.2bn
Snap Inc., maker of photo-disappearing app Snapchat, has set the valuation of its Initial Public Offering at as high as between $19.5bn and $22.2bn, with its shares being valued at $14-16 on a diluted basis.
17 Feb 2017Business
Air India inducts A320 neo
Air India has inducted its first Airbus A320 neo aircraft into its fleet, becoming the third Indian carrier to do so after IndiGo and GoAir.
17 Feb 2017India
India down to 143 in Economic Freedom Index
India has ranked 143rd in the Heritage Foundation's Index of Economic Freedom report due to "uneven" market oriented reforms.
16 Feb 2017Business
BookMyShow makes two acquisitions in two months
BigTree Entertainment Pvt. Ltd., which runs BookMyShow, has recently bought 75% stake in Pune-based Townscript.