Business news

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

IL&FS Annual General Meeting: Three-pronged strategy to return insolvent

The default of over Rs. 9000 crore by infrastructure company and its subsidiaries have triggered fears across all NBFCs of the country.

Sep 30, 2018

Play

Elon Musk steps down as Tesla chairman; will remain CEO

The businessman has been charged with misleading investors with his tweet in August claiming that he planned on taking Tesla Inc. private for $420 a share. Now, Tesla Inc. and Musk will have to pay $20 million each to financial regulators.

Sep 30, 2018

Apple store theft: 17 arrested for stealing electronics worth $1 million in California

Earlier this week, electronics worth tens of thousands of dollars were stolen from the Palo Alto Apple store in California in less than 12 hours during the iPhone XS launch weekend.

Sep 29, 2018

The new Apple iPhone Xs Max and iPhone X are seen on display at the Apple Store in Manhattan, New York, U.S.,

Amid Apple-Qualcomm spat, US trade judge declines to block iPhone imports

The US International Trade Commission judge said Apple's phones infringed one Qualcomm patent related to power management technology, but denied the chipmaker's request for a ban on the import of some iPhones into the United States.

Sep 29, 2018

Uttar Pradesh: Bank manager arrested for withdrawing Rs 18 lakh from ATM

The manager of Bantikheda village branch was found to be involved in the theft of Rs 18 lakh from an Overseas Bank ATM in Shamli on March 4.

Sep 29, 2018

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Tata Group retains iconic Taj Mansingh hotel in Lutyen's Delhi after NDMC auction

The auction had been pending since the lease expired in 2011.

Sep 29, 2018

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Warren Buffett-led Berkshire Hathaway invests over Rs 21 billion in Paytm

The fresh round of investment has increased Paytm's valuation to Rs 731 billion ($10 billion).

Sep 28, 2018

SBI expects 53% recovery from RBI's first list of 12 stressed accounts

"We have made adequate provisions for this and it will not impact the balance sheet. Our average provisioning for these cases will be around 55 per cent," said State Bank of India (SBI) Managing Director Dinesh Kumar Khara.

Sep 28, 2018