Companies

Facebook's new privacy safeguards will erode company's profits for years

Latest earnings reveal a huge drop in Facebook's market cap as the social media giant is investing heavily in new privacy safeguards, a move that will eat into the company's profits for "years" as per Chief Financial Officer David Wehner.

Jul 26, 2018

Production facility is seen at Saudi Aramco's Shaybah oilfield

Oil prices rise as Saudi Arabia halts shipments through Red Sea lane after Houthi attack

The Bab al-Mandeb Strait, where the Red Sea meets the Gulf of Aden in the Arabian Sea, is only 20 km (12 miles) wide, making hundreds of ships potentially an easy target.

Jul 26, 2018

Korean and Chinese handset makers' takeover as Indian players fail to impress

Micromax had a 16 percent share of the Indian smartphone market in the final quarter of the financial year 2016. Its share substantially dropped to only five percent in final quarter of the financial year 2017.

Jul 25, 2018

HDFC AMC IPO subscribed 43% in first 3 hours

IPO received a positive response from the investors as 81,00,560 shares were subscribed against the issue size of 1,88,04,290 shares.

Jul 25, 2018

Ferrari Chairman and CEO Sergio Marchionne

Sergio Marchionne, the man behind Fiat Chrysler resurrection, dies at 66

Sergio Marchionne died after complications from a surgery conducted at Zurich's University Hospital. He was replaced as CEO of FCA on July 22 by Mike Manley.

Jul 25, 2018

Jio eyes foothold in entertainment industry

The telecom giant aims to set up its own production house to tap the lucrative web series market.

Jul 25, 2018

Maruti Suzuki recalls 566 new Swift, 713 new Dzire units over faulty airbag controller unit

The new Swift and Dzire units recalled are manufactured between May 7, 2018 and July 7, 2018. Maruti Suzuki will inspect and replace the faulty part for free of cost starting from July 25.

Jul 25, 2018

Idea–Vodafone bows in front of DoT; pay up Rs 72 billion

The deal is expected to get a final approval from the DoT within next week. After many rounds of deliberations, the DoT was adamant on its demand of Rs 72 billion which was eventually paid by the two telcos

Jul 24, 2018

Reliance Jio effect: Indian telcos continue to register losses

In the last quarter of the fiscal year 2017-18, the revenue of two of India's largest telecom companies Bharti Airtel Ltd and Idea Cellular Ltd has declined. Bharti Airtel Ltd reported a loss in revenue of 3.7% while Idea Cellular Ltd witnessed a decline in revenue at 5.7%.

Jul 24, 2018

Despite EU fine, Alphabet records $3.2 billion profit

Google's parent company beat all expectations with a profit of $3.2 billion for Q2 in 2018. CEO Sundar Pichai is hopeful of finding a solution to the Andriod problem that lead the EU to fine Google $5 billion.

Jul 24, 2018

Chinese boost for OYO Rooms? Tencent in talks to invest up to $500 mn

The investment would raise the Indian company's value to over $2 billion. Oyo needs the funds to expand further in China, its largest overseas market, where it has witnessed rapid growth since starting operations in November 2017.

Jul 24, 2018

OnePlus 6, Midnight Black, India, launch, price

OnePlus eyeing new HQ in India; R&D centre likely in Bengaluru or Hyderabad

OnePlus has announced plans to open a global HQ in India, as well as an R&D centre in either Bengaluru or Hyderabad. Along with local manufacturing, the centres are expected to help make OnePlus more popular in India as well as lower prices.

Jul 22, 2018

ola, olacabs, ola cabs, ola ceo bhavish aggarwal, ola founders, ola rival uber, cab hailing services in india

After making a profit, Ola eyes IPO

The app-based ride-hailing service has finally begun making a profit of every ride, prompting CEO Bhavish Aggarwal to eye an IPO within the next four years.

Jul 21, 2018

Microsoft investors celebrate after stock hits new record high

Growth in its software and Azure cloud services business bolstered Microsoft's stock to $108.20 in early trade, resulting in a market cap of $832 billion after its earnings call. The company is now a close third, in the race with Apple and Amazon to be the first $1 trillion company.

Jul 21, 2018

Wipro sees strong demand for services from financial clients

Beating analysts' forecasts, net profit for the IT firm grew 2 percent mostly for its US businesses. India and the Middle East contribute around 10 percent, a number that the company is keen to change at the earliest.

Jul 21, 2018