Business news

IL&FS (Infrastructure Leasing and Financial Services Ltd.)

Amid liquidity crisis, IL&FS chairman received 144% salary hike in FY18

For the fiscal year 2017-18, the average percentage increase in the managerial compensation was 66 percent.

Oct 4, 2018

Chanda Kochhar steps down as ICICI Bank CEO; Sandeep Bakshi named as replacement

The ICICI Bank announced the decision on Thursday and said that Sandeep Bakshi will replace Chanda Kochhar.

Oct 4, 2018

Infosys, TCS, Tata Motors and HDFC in list of world's best regarded companies

Trustworthiness, social conduct, performance of the company's product or service and the company as an employer were some of the parameters on which the list was compiled.

Oct 3, 2018

IL&FS fiasco: Sacked directors defend their role in company

Highlighting some of the crucial attempts by the independent directors informed that an offer was made by Ajay Piramal to buy ILF&S at a price Rs. 600-650 per share. But the proposal was turned down by the Life insurance cooperation of India (LIC)

Oct 3, 2018

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Turbulent times continue for Jet Airways as 16,000 staffers hit by salary delay

The Mumbai-based full-service airline, partially owned by UAE national carrier Etihad Airways, has been facing financial problems for quite some now.

Oct 3, 2018

With Indian rupee plumbing depths, 25 million expatriates to script new remittance record

The lion's share of remittances to India come from the United Arab Emirates, the United States, Saudi Arabia, Kuwait, the United Kingdom, Qatar, Oman and Canada -- in that order.

Oct 3, 2018

US woman sues Facebook, claims website enabled sex trafficking

According to the lawsuit, the woman was "friended" on Facebook in 2012 by a user who appeared to know several of her real-life friends.

Oct 3, 2018

Ericsson files plea against Anil Ambani over Rs 550 crore pending dues

Ericsson India Private Limited has reportedly filed a Contempt Petition on October 1, 2018, in the Supreme Court.

Oct 3, 2018

TCS doubles pay for new recruits with knowledge of AI, Machine Learning

The Indian MNC is now offering up to Rs 6.5 lakh per annum compared to the Rs 3.5 lakh per annum it was offering until now.

Oct 3, 2018

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Fuel pain set to last, and worsen, as crude oil predicted to hit $100 a barrel

Oil prices are likely to rocket higher with the flashy $100 per barrel price tag indeed a reasonable sounding target, says analyst.

Oct 2, 2018

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Tech Mahindra lowers retirement age of employees from 58 to 55

This rule is only applicable to those who have worked for less than seven years in the company.

Oct 2, 2018

General Electric sacks CEO John Flannery; names H Lawrence Culp Jr as replacement

Tracing its roots to Thomas Edison, who invented the light bulb, the company grew along with the American economy.

Oct 2, 2018

Yes Bank CEO Rana Kapoor's extension objected by second-largest shareholder

The Yes Bank board had informed the shareholders that it has sought an extension of Rana Kapoor as the Managing Director and the CEO from RBI by eight months.

Oct 1, 2018

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PepsiCo India to set up infrastructure for collecting, recycling PET plastic bottles in Delhi

Beverage major Pepsico India has said it will set up waste collection centres and reverse vending machines in Delhi to recycle PET plastic bottles, in partnership with Gem Enviro Management.

Oct 1, 2018

Facebook faces $1.63 billion fine over data breach that exposed 50 million accounts

In the biggest-ever security breach after Cambridge Analytica scandal, Facebook on Friday admitted hackers broke into nearly 50 million users' accounts by stealing their "access tokens" or digital keys.

Oct 1, 2018

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