Business News
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Elon Musk celebrates his 45th birthday
Billionaire Elon Musk, celebrated his 45th birthday today.
Tata sons to pay $1.17 billion for breaching agreement
The London Court of Arbitration has asked Tata Sons to pay $1.17 bn to NTT DOCOMO for breaching of an agreement.
FTC sues InMobi for violating users' privacy
The US Federal Trade Commission, filed a complaint against InMobi for obtaining location data from cellphone users' without their consent.
Mitsubishi expects net loss post mileage cheating scandal
Following the mileage cheating scandal, Mitsubishi expects to suffer annual loss this financial year.
Nikesh Arora steps down as SoftBank CEO
Amidst a row with investors, the hand picked successor of Masayoshi Son, Nikesh Arora has decided to step down as the Chief Executive of SoftBank.
Zocalo launches CoHo dorms for DU students
Leaning into the demands of DU students to find good accommodations, CoHo.in has launched its CoHo dorms to span the gap of demand-supply for students.
Winsome Group's claims false, says Diamond Intelligence magazine
Fresh reports confirmed the suspicions about a criminal conspiracy to take money out of India by Winsome Group leading to a Rs.7,000-crore debt.
Microsoft teams-up with KIND to track marijuana sales
Technology giant Microsoft has joined hands with KIND Financial, a California-based tech startup that helps government and other agencies to track the sales of legalized marijuana "from seed to sale".
Infosys hires top Silicon Valley talent for Mana
Software exporter Infosys is betting heavily on its new artificial intelligence (AI) platform Mana, expecting the computing system to garner billions of dollars in revenue.
Daewoo Shipbuilding's offices raided in South Korea
South Korean authorities reportedly raided offices of the world's second largest shipbuilder–Daewoo Shipbuilding and Marine Engineering; it is a part of officials' investigation into the company's alleged accounting irregularities.
Shell's mid-term strategy, more jobs to be cut
Royal Dutch Shell has stated its plans to sell more assets and cost-cutting for the next few years so the oil-and-gas major could cope with the continued low oil and gas prices.
Japanese authorities conduct raids on Suzuki HQ
Authorities in Japan have reportedly raided Suzuki Motors' headquarters as a part of their ongoing investigation into the company's use of improper fuel economy tests.
World's cheapest smartphone made in India
The world's cheapest smartphone, Namotel 'Acche Din', was marketed at Rs. 99 only at a press conference held in Bengaluru on Tuesday.
PNB posts biggest loss in India's banking history
Public sector lender Punjab National Bank on Wednesday reported a net loss of Rs.5,367.14 crore for the fourth quarter ending March 31st, on account of higher provisioning for bad loans.
Huge gender pay gap in India: Monster survey
Monster India, the online career and recruitment service provider, has released the latest 'Monster Salary Index' (MSI) for 2015, which analyses the job market in India.
RBS to wind up Indian operations soon
Royal Bank of Scotland announced that it would close its retail banking branches in different phases and informed its customers.
Reliance to make passenger aircraft with Antonov
Anil Ambani-led Reliance Defence is planning to manufacture 50-80 seater passenger aircraft in India in collaboration with its Ukranian joint-venture partner Antonov.
India worried over linking of funding with labour standards
Developed countries are trying hard to link funding from multilateral development agencies to labour standards in order to allow companies from developed countries to bag contracts.
RBI amends ownership guidelines in private banks
The Reserve Bank of India (RBI) has changed the guidelines for ownership in the private sector banks.
Blackstone’s Schwarzman tops Forbes’ debut Money Masters list
Forbes' first-ever 'Money Masters' list ranked the top 40 financiers in the financial world.
Roadrunnr, TinyOwl to merge and launch ‘Runnr’
Roadrunnr-the Bengaluru-based hyper-local logistics firm and Mumbai-based TinyOwl-the food-ordering platform are merging in an all-stock deal.
India's crony wealth plummets to 3.4%
According to a study by the Economist, India ranks ninth in the world crony-capitalism index with crony wealth accounting for 3.4% of GDP down from 18% in 2008.
India fastest growing e-commerce market globally
According to a report by Assocham and Forrester, India's e-commerce sector is the fastest growing in the world.
Startups and big cos spar over software patents
The technology industry in the country is divided over the issue of allowing the patenting of software.
Titan to acquire majority stake in CaratLane
Titan Co. Ltd announced that it will acquire a majority stake in online jewellery chain CaratLane Trading Pvt. Ltd for an undisclosed amount, subject to due diligence.
RBI releases guidelines for 'on-tap' bank licenses
The Reserve Bank of India released guidelines for granting 'on-tap' bank licenses to individuals, groups, companies or entities.
Apple loses lawsuit over 'iPhone' in China
Apple Inc lost a lawsuit with a China-based company Xintong Tiandi Technology as a Beijing court allowed the Chinese company to use the name 'IPHONE' on its products.
Govt bars Apple from selling 2nd-hand phones in India
The Indian government has dealt a blow to Apple's plan of importing and selling second-hand phones in India, to prevent dumping of hazardous e-waste in the country.
SHG rural credit rises to Rs.30,000cr
In what could bring cheer to the drought grappled rural economy, the rural credit availed by Self Help Groups (SHGs) in India has increased significantly by 40%.
India, China face social risk due to inequality: IMF
The International Monetary Fund (IMF) has cautioned both India and China that they face social risk due to rising inequality.
Only 1% Indians pay tax
According to the government data on direct tax, released after a gap of 15 years, only 1% Indians or 1.25 crore people paid income tax in the assessment year 2012-13.
Bidding adieu: HMT shuts down its last manufacturing unit
HMT Watches Ltd. announced the shutdown of its manufacturing unit at Tumakuru.
Unique IDs for companies soon
The Union government is planning a single unique identification for the companies to enable them to carry out all the transactions using that ID.
Regulatory framework for P2P lending
The Reserve Bank of India (RBI) has come up with a regulatory framework for the peer-to-peer (P2P) lending platforms which; although in their nascent stages, are growing exponentially.
Facebook swells to 1.65B users and beats Q1 estimates with $5.38B revenue
Facebook surpassed the estimates in its Q1-2016 earnings report with $5.38 billion in revenue and $0.77 earnings/share.
LinkedIn unveils exclusive mobile app for students
LinkedIn, the professional-networking company, has unveiled a new mobile app, which is tailor-made to help college students find jobs.
Reliance Jio starts operations of 8,100-km submarine cable system
Reliance Jio announced the beginning of operations of the 100 Gigabits/sec Bay of Bengal Gateway (BBG) submarine cable system.
TCS denies IP infringement in $940 Million Epic case
Tata Consultancy Services (TCS) has denied any violation of trade secrets and plans to contest the decision of the Wisconsin Grand Jury in higher courts.
Oracle, Alphabet’s Google fail to settle lawsuit
Oracle Inc. and Alphabet Inc.'s Google failed to come to a settlement regarding the long-running copyright lawsuit over Android OS, ahead of a retrial scheduled for 9 May 2016.
Compat stays Holcim-Lafarge merger
The Competition Appellate Tribunal (Compat) has stayed the exit of Lafarge from India till the next hearing on 9 May 2016, thus delaying the Lafarge-Holcim merger.