Business news

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Infosys admits automation related job losses hit 11,000

Indian IT-giant Infosys held its 36th Annual General Meeting on Saturday, June 24, during which it admitted that it had released 11,000 jobs due to automation.

Jun 26, 2017

Royal Bank of Scotland to cut 443 jobs in UK, plans to move many roles to India for cost-cutting

The Royal Bank of Scotland job cut will mostly affect the department that deals with loans for small businesses, and the decision was reportedly made to cut the rising costs of the company.

Jun 26, 2017

Big deal with steel: Rs 5,000-cr JV between SAIL and ArcelorMittal may be closed next month

The proposed Rs 5,000-crore joint venture seeks to construct a cold rolling mill and other downstream finishing facilities in India.

Jun 25, 2017

infosys, infosys chairman r seshasayee, infosys agm, seshasayee to quit

Infosys chairman Seshasayee to retire next year on turning 70

Says that for the rest of his tenure, he will focus on improving shareholder value and planning a smooth transition to his successor.

Jun 25, 2017

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Market outlook: Investors likely to remain cautious ahead of GST; Tejas Networks to list on June 27

Tejas Networks is set to list on June 27; Sensex and Nifty are expected to remain range-bound in the last trading week before GST rollout from July 1.

Jun 24, 2017

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Infosys co-founders keep away from annual general meeting

India's second-largest IT services exporter Infosys held its 36th AGM in Bengaluru on Saturday.

Jun 24, 2017

Unburdening: Tata Teleservices seeks to recast Rs 32,000-cr debt pile

Tata Tele has reportedly approached a lender consortium led by SBI for restructuring outstanding debt of Rs 32,000 crore.

Jun 24, 2017

Govt red-flags $13-bn oil deal between Essar and Rosneft

Deal expected to result in substantial debt reduction for the Essar Group, and help the Kremlin-controlled giant increase oil refining output by 20 per cent.

Jun 24, 2017

Vijaya, Dena mulled as possible acquisition targets for Canara Bank

Govt likely to push proposal forward after monsoon session of Parliament is over in August.

Jun 24, 2017

fortis healthcare, fortis share price, fortis healthcare q4 results, fortis hospitals, fortis bulk deal

Fortis Healthcare shares crash despite company keeping options open on stake sale

Fortis Healthcare, whose business units comprise hospitals, diagnostics and day-care facilities, saw its share price plunge after Malaysia's IHH reportedly pulled out of talks to acquire a stake.

Jun 24, 2017

Infosys CEO Vishal Sikka gets clean chit from US law firm in Panaya deal

The details of the investigation carried out by law firm Gibson Dunn & Crutcher, LLP, and the findings were released on Friday, June 24. It said there was no evidence of any wrongdoing by Vishal Sikka.

Jun 24, 2017

Infosys to pay $1 million to settle visa violation case in New York

Infosys' $1 million settlement comes after a whistleblower claimed Infosys brought foreign IT workers to New York on a visitors visa and did not pay the applicable taxes.

Jun 24, 2017

Gear change: Face IT industry headwinds with the right skillsets

Tech services companies which invested in digital services are likely to be the only ones showing revival in growth rates in future.

Jun 23, 2017

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Wipro chairman's PremjiInvest objects to special payment to Snapdeal founders before Flipkart 'merger'

Snapdeal co-founders Kunal Bahl and Rohit Bansal, and investors Kalaari Capital and Nexus Venture Partners will get a total of $90 million prior to "merger" with Flipkart, triggering objections from PremjiInvest.

Jun 23, 2017

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Essar Steel, Bhushan Steel and Electrosteel are probably up for grabs; who would steal the steel deal?

Banks are all set to crack down on Essar Steel, Bhushan Steel, and Electrosteel to recover their dues. Will the lenders sell their firms to probable buyers like Tata Steel or JSW Steel?

Jun 23, 2017

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Business news

Infosys admits automation related job losses hit 11,000

Royal Bank of Scotland to cut 443 jobs in UK, plans to move many roles to India for cost-cutting

Big deal with steel: Rs 5,000-cr JV between SAIL and ArcelorMittal may be closed next month

Infosys chairman Seshasayee to retire next year on turning 70

Market outlook: Investors likely to remain cautious ahead of GST; Tejas Networks to list on June 27

Infosys co-founders keep away from annual general meeting

Unburdening: Tata Teleservices seeks to recast Rs 32,000-cr debt pile

Govt red-flags $13-bn oil deal between Essar and Rosneft

Vijaya, Dena mulled as possible acquisition targets for Canara Bank

Fortis Healthcare shares crash despite company keeping options open on stake sale

Infosys CEO Vishal Sikka gets clean chit from US law firm in Panaya deal

Infosys to pay $1 million to settle visa violation case in New York

Gear change: Face IT industry headwinds with the right skillsets

Wipro chairman's PremjiInvest objects to special payment to Snapdeal founders before Flipkart 'merger'

Essar Steel, Bhushan Steel and Electrosteel are probably up for grabs; who would steal the steel deal?

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]