Business news

No more Vande Bharat coaches to be manufactured this fiscal due to high energy consumption

Indian Railways' plan to manufacture 40 additional trains by March 2022 remains on track.

Sep 10, 2019

paytm, freecharge, paytm to acquire freecharge, snapdeal acquires freecharge, indian fintech companies, digital payments, digital wallet

Paytm parent One97's loss widens to Rs 3,960 crore amid tough competition

The losses have mounted despite transactions through Paytm rising significantly since the demonetisation.

Sep 10, 2019

US-based firm DXC Technology to hire 10,000 Indians for digital operations

The company had previously stated that the inability to hire employees had cost the company nearly $100 million in revenue last year.

Sep 9, 2019

British Airways cancels nearly all flights due to pilots' 48-hour strike

British Airways has stated that the strike action is unjustifiable as its pay offer was fair.

Sep 9, 2019

Satyam scam: SAT quashes 2-year audit ban on PwC in major setback for SEBI

Satyam Computer Services founder B Ramalinga Raju had publicly admitted to large-scale financial manipulations to the tune of over Rs 5,000 crore in the company's books.

Sep 9, 2019

BENGALURU, IndiaMicrosoft Chief Executive Officer Satya Nadella and Flipkart Group Chief Executive Officer and co-founder Binny Bansal attend a news conference in Bengaluru, India, February 20, 2017. REUTERS/Abhishek N. Chinnappa

Binny Bansal turns professional investor; to set up $400 million VC fund

The move is significant for Indian entrepreneurs as this is the first time an established tech entrepreneur is turning into a full-time investor.

Sep 9, 2019

Ex-Paytm executive Sonia Dhawan rejoins Vijay Shekhar's firm

Dhawan, the prime accused in an alleged extortion case involving Vijay Shekhar Sharma will be joining Paytm's gaming platform "First Games" as Vice President of Corporate Communication.

Sep 7, 2019

Slowdown will not hit social sector spending: Nirmala Sitharaman

The minister said the government was yet to take a call on how it would use the surplus reserve of Rs 1.76 lakh crore it has received from the Reserve Bank of India.

Sep 7, 2019

It's official: Cognizant CEO announces job cuts by October end

Notably, since he took over as Cognizant's CEO in April, his main focus has been on the company's cost competitiveness.

Sep 6, 2019

What is driving Mukesh Ambani's pivot away from oil to lifestyle retail?

A recent $15-billion deal with Saudi Aramco has helped the world's largest refiner Reliance Industries deleverage the balance sheet and cut debt while freeing up resources to power diversification away from core petrochemical sector.

Sep 6, 2019

OYO Rooms refutes hotelier's charges after Bengaluru police registers case against CEO

We strongly refute the claims made in the complaint that has been wrongfully filed against our Founder and two other office bearers, said OYO.

Sep 6, 2019

Will Airbus' move to expand digital services centre in Bengaluru boost Make in India?

European aircraft maker plans to double the staff in its information management centre in Bengaluru to reduce outsourcing.

Sep 5, 2019

Boeing MAX 737 likely to show global record in insurance payout, says S&P

Although the aerospace insurance and reinsurance market will face aircraft hull and passenger liability claims, the bulk of the overall exposure will come from grounding liability coverage.

Sep 4, 2019

Rakesh Jhunjhunwala loses Rs 200 crore as market plunges more than 700 points

Discouraging economic data, trade war and tepid growth have created a negative sentiment among the investors, leading to huge selling on Dalal Street on Tuesday.

Sep 4, 2019

IDBI bank gets fresh lifeline as cabinet approves ₹9257 crore infusion

Notably, the proposed money will be released as a part of the government's plan to recapitalise the national banks with a fund infusion of Rs 70,000 crore in the current financial year.

Sep 3, 2019