Business news

Italy fines Facebook 10 million euros for misleading users

The competition watchdog handed Facebook two fines totalling 10 million euros, "also for discouraging users from trying to limit how the company shares their data", Italian portal The Local reported on Saturday.

Dec 8, 2018

Google announces 'Journalism AI' project

Part of the Google News Initiative (GNI), the "Journalism AI" project will focus on research and training for newsrooms on the intersection of AI and journalism.

Dec 8, 2018

Akorn CEO to retire after drugmaker fails to salvage Fresenius merger deal

Akorn Inc said late on Friday its Chief Executive Officer would retire following the drugmaker's inability to salvage its takeover deal with Germany's Fresenius SE.

Dec 8, 2018

FinMin extends deadline for filing GST annual returns till March 31

The annual returns form in which businesses registered under the GST have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal was notified in September.

Dec 8, 2018

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Kotak Bank denial of Warren Buffett firm talks rocks shares

Lender's shares soared after a media report suggested it was in discussions with Berkshire Hathaway over a 10 per cent stake sale

Dec 8, 2018

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Market volatility, tax rules force mutual funds to reassess conservative plans viability

ICICI Prudential discontinues accepting investments in its largest Balanced Advantage Plan as growth stagnates, tax burden drives away investors.

Dec 8, 2018

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ICRA downgrades Jet Airways' rating as carrier battles severe cash-crunch

Local credit rating agency ICRA has downgraded its long-term ratings to C from B-. The short-term rating of the carrier had been kept at A4. Jet Airways too confirmed the downgrade in a regulatory filing.

Dec 8, 2018

Uber files for $76 bln initial public offering -- Report

Uber Chief Executive Dara Khosrowshahi had told Reuters in May that the ride-hailing company was on track to launch an initial public offering next year.

Dec 8, 2018

HCL buys IBM Software Products for $1.8 billion

HCL Chief Executive C. Vijayakumar said in a statement that the deployment of IBM software products would provide it with an opportunity to serve thousands of global enterprises across industry verticals.

Dec 7, 2018

Kirthiga Reddy ends stellar stint at Facebook; joins SoftBank as first venture partner

Reddy had resigned as Facebook India MD (then based out of Hyderabad) in 2016 and returned to its US headquarters at Menlo Park to work there.

Dec 7, 2018

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Etihad bailout: NRI tycoon Yusuffali roped in by Jet Airways as talks enter advanced stages

Reports suggest UAE national carrier may stand guarantee for up to Rs150 million loans for debt-ridden Indian airline

Dec 7, 2018

Yes Bank raises sensational charges against rival Kotak and business daily

Yes Bank and Kotak Mahindra Bank started operations in the early 2000s as investment banks, but Kotak bloomed into a full fledged lender later on.

Dec 7, 2018

Fortis feud blows up as Malvinder Singh accuses brother Shivinder of assault

In a video, which was sent to family members and friends, Malvinder has alleged that Shivinder physically assaulted him before a board meeting of Prius Real Estate at their Hanuman Road office in central Delhi on Wednesday, December 5.

Dec 7, 2018

Connecticut: Infosys inaugurates high-tech innovation hub in Hartford

The hub will also help organisations learn through making, bring expertise in technologies like blockchain, extended reality and cognitive capabilities with design thinking, agile and DevOps.

Dec 6, 2018

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KKR may pick up CCD founder VG Siddhartha's stake in Mindtree

Siddhartha is the largest investor controlling 26% of shares in information technology major Mindtree.

Dec 6, 2018

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