Business news

Probe against Nirav Modi compromised? Top CBI officer's email blocked, desktop seized

Under whose wings is Nirav Modi taking shelter after duping Punjab National Bank of more than Rs 14,00 crore? While his passport was supposed to be revoked, he travels using it as recently as on June 12.

Jun 18, 2018

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DBT savings could touch Rs 40,000 crore in current Financial Year

Total savings since the inception of Direct Benefit of Transfer in 2013 to cross Rs1.25 lakh cr.

Jun 18, 2018

Offline smartphones sales plummet in India; Mi.com grows faster than Amazon and Flipkart

Xiaomi, which has disrupted the Indian smartphone market in the mid-segment, continues to grow and consolidate its position. Strikingly, Mi.com has grown faster than big rivals Amazon and Flipkart.

Jun 16, 2018

Tesla layoff ordeal: Employees were caught off-guard by vague midnight mail

Explaining the move Tesla CEO Elon Musk said that the company had never made annual profits since it was founded, which proves that profit is not the only motivational factor. But the expansion of the company in the last 14 years has led to "some duplication of job roles and some job functions."

Jun 15, 2018

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Japan's SoftBank to invest up to $100 billion to boost India's solar power production

SoftBank Group Corp has decided to invest $60 billion-$100 billion in a solar power project in India, Japanese public broadcaster NHK reported on Friday.

Jun 15, 2018

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK

In a statement, the company said around 1,500 jobs will be axed by the end of 2018, while 2019 and 2020 will also witness more job cuts. The move will mostly affect managerial roles and engineering jobs.

Jun 14, 2018

Tesla sends home 9% workers as Elon Musk chases elusive profits

The measure means that some 4,100 of the firm's 46,000 employees will lose their jobs. The layoffs will not affect operations at the factory producing the Model 3.

Jun 13, 2018

Slowing gasoline price rises keep US inflation in check

US consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy.

Jun 13, 2018

ICICI Bank CEO Chanda Kochhar's latest troubles – Investigation by SEC and possible punishment

With the Union Corporate Affairs Ministry also launching a probe with the help from Mauritius, it may nudge the ICCI Bank board to take action and take a dim view of Chanda Kochhar's continuance in the present role.

Jun 11, 2018

Hyderabad ready for DIY furniture with Ikea to open on July 10, which cities are next?

To facilitate its services, Swedish brand Ikea has also tied up with UrbanClap, a mobile-based services marketplace, which will provide assembling services to buyers in the city. Meanwhile, Hyderabad is not the only place that Ikea is aiming to set foot in and plans to expand to 25 stores by 2025.

Jun 11, 2018

Xiaomi posts $1 billion first quarter loss ahead of IPO

The Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing.

Jun 11, 2018

Can Patanjali and Baba Ramdev build an MNC-style empire?

Baba Ramdev-owned Patanjali recently launched a swadeshi (made in India) messenger application called Kimbho. The app was withdrawn from app stores over security concerns.

Jun 11, 2018

BSNL comes up with a new broadband plan to take on Jio and other incumbents

The state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) has introduced two broadband plans, Fibro Combo ULD 777 and Fibro Combo ULD 1277.

Jun 10, 2018

Thousands left jobless in Tamil Nadu as small, medium industries close

Sharp decline in number of registered MSME industries, employees due to several issues. Many cite Good and Services Tax or GST as key factor for the fall.

Jun 9, 2018

Organic growth or aggressive approach? Why Infosys needs to decide soon

With global IT majors like Capgemini and Accenture gaining market share with their aggressive approach to acquisitions, many are of the opinion companies like Infosys should decide if they want to remain without acquisitions and stick to good old organic growth.

Jun 9, 2018