Business news

Cisco Systems to lay off about 14,000 employees: CRN

The company has already offered many early retirement package plans to Cisco's employees, according to CRN.

Aug 17, 2016

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Hike Messenger raises $175 million in funding led by Tencent Holdings, Foxconn

After the Series D fund-raising led by Tencent and Foxconn , Indian messaging startup Hike Messenger is valued at $1.4 billion.

Aug 16, 2016

Infosys, L&T in news; Sensex, Nifty snap winning streak

Infosys shares fell on news of client RBS scrapping plans to list Williams & Glyn; L&T gained on Nagpur smart city buzz.

Aug 16, 2016

Infosys shares likely to fall on Tuesday after company's client RBS scraps Williams & Glyn project

Royal Bank of Scotland (RBS) had roped in Infosys as a technology partner for its Williams & Glyn listing project.

Aug 15, 2016

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State Bank of Mysore shares spurt 35% in 3 months

The Bengaluru-based bank had on May 17 informed the BSE of that its board approved the merger with State Bank of India.

Aug 15, 2016

ONGC allocates Rs. 100 crore for start-up fund on 60th anniversary

ONGC will oversee all stages involved in incubating start-ups, including seed funding, mentoring, market linkages and follow-ups.

Aug 14, 2016

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Falling gold imports is bad news for India

Though gold imports through official channels fell 52 percent for the April-July 2016 period, "unofficial" buying spurted even higher, hinting at smuggling.

Aug 13, 2016

Madras High Court upholds DoT's claim to revenue share from service providers; dismisses Aircel petition

The telecom department can claim a share of revenues of the firms, including that from non-telecom activities, ruled the court.

Aug 13, 2016

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Sensex, Nifty poised for volatile trading next week over divergent triggers

The positive news of SC lifting the ban on sale of diesel cars in Delhi is likely to be negated by galloping retail inflation for July at 6.07 percent.

Aug 13, 2016

Air Costa employees not paid salary since June: Report

Debt-ridden Air Costa has not paid salaries to employees since June this year.

Aug 12, 2016

State Bank of India Q1 net profit down 32 percent; shares jump 7.5 percent

SBI shares jumped 7.5 percent even as the bank posted a 31.7 percent decline year-on-year in net profits for June quarter.

Aug 12, 2016

JW Marriott pays Rs. 5.59 crore property tax after BBMP seizes furniture

The civic body seized sofas, chairs, desks and computers from the JW Marriott Hotel.

Aug 12, 2016

A view of the Hewlett Packard headquarters in Palo Alto, California November 23, 2009.

Hewlett Packard Enterprise acquires SGI for $275 million to expand in big data market

Hewlett Packard acquires SGI, a HPC solutions provider for $275 million; the $11 billion HPC market will grow at 6-8% CAGR over the next 3 years.

Aug 12, 2016

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Prestige Estates plans business restructuring

Bengaluru-based real estate firm Prestige Estates informed BSE that it has formed a committee to explore business restructuring.

Aug 12, 2016

Oil up 4 percent as Saudis mull meeting, tighter market forecast

Oil prices jumped the most in a month, rising more than 4 percent on Thursday, after comments from the Saudi oil minister about possible action to stabilize prices.

Aug 12, 2016