Companies

PNB scam: Lapses at several levels led to India's largest bank fraud, report says

A $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank's own internal probe has found.

Jun 20, 2018

Who is Sandeep Bakhshi? ICICI gets new COO amid Chanda Kochhar probe

The announcement came on Monday, June 18 and in his new role as COO, Sandeep Bakhshi will continue to report to CEO Chanda Kochhar, who has reportedly gone on leave. Bakhshi has been brought on board for a period of five years, which is subject to approvals from the regulatory board.

Jun 19, 2018

Only Uday Kotak gets a pay hike among all private bank chiefs in FY18

The annual report of Kotak Mahindra bank shows that Uday Kotak received a pay hike of 11.02 percent - Rs 2.92 crore - in the fiscal year ended March 2018, from Rs 2.63 crore in the year ended March 2017, mainly due to a similar rise in basic salary.

Jun 18, 2018

ICICI Bank to finally boot out Chanda Kochhar? Sandeep Bakhshi to be named CEO

Major financial daily reports that ICICI Bank top management has decided to remove CEO Chanda Kochhar from the position following the investigation into alleged conflict of interest over Videocon loan. The report says Sandeep Bakhshi, the head of the bank's insurance division, will become the next CEO.

Jun 18, 2018

Tesla layoff ordeal: Employees were caught off-guard by vague midnight mail

Explaining the move Tesla CEO Elon Musk said that the company had never made annual profits since it was founded, which proves that profit is not the only motivational factor. But the expansion of the company in the last 14 years has led to "some duplication of job roles and some job functions."

Jun 15, 2018

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Japan's SoftBank to invest up to $100 billion to boost India's solar power production

SoftBank Group Corp has decided to invest $60 billion-$100 billion in a solar power project in India, Japanese public broadcaster NHK reported on Friday.

Jun 15, 2018

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK

In a statement, the company said around 1,500 jobs will be axed by the end of 2018, while 2019 and 2020 will also witness more job cuts. The move will mostly affect managerial roles and engineering jobs.

Jun 14, 2018

Tesla sends home 9% workers as Elon Musk chases elusive profits

The measure means that some 4,100 of the firm's 46,000 employees will lose their jobs. The layoffs will not affect operations at the factory producing the Model 3.

Jun 13, 2018

ICICI Bank CEO Chanda Kochhar's latest troubles – Investigation by SEC and possible punishment

With the Union Corporate Affairs Ministry also launching a probe with the help from Mauritius, it may nudge the ICCI Bank board to take action and take a dim view of Chanda Kochhar's continuance in the present role.

Jun 11, 2018

Hyderabad ready for DIY furniture with Ikea to open on July 10, which cities are next?

To facilitate its services, Swedish brand Ikea has also tied up with UrbanClap, a mobile-based services marketplace, which will provide assembling services to buyers in the city. Meanwhile, Hyderabad is not the only place that Ikea is aiming to set foot in and plans to expand to 25 stores by 2025.

Jun 11, 2018

Xiaomi posts $1 billion first quarter loss ahead of IPO

The Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing.

Jun 11, 2018

Can Patanjali and Baba Ramdev build an MNC-style empire?

Baba Ramdev-owned Patanjali recently launched a swadeshi (made in India) messenger application called Kimbho. The app was withdrawn from app stores over security concerns.

Jun 11, 2018

BSNL comes up with a new broadband plan to take on Jio and other incumbents

The state-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) has introduced two broadband plans, Fibro Combo ULD 777 and Fibro Combo ULD 1277.

Jun 10, 2018

Thousands left jobless in Tamil Nadu as small, medium industries close

Sharp decline in number of registered MSME industries, employees due to several issues. Many cite Good and Services Tax or GST as key factor for the fall.

Jun 9, 2018

Organic growth or aggressive approach? Why Infosys needs to decide soon

With global IT majors like Capgemini and Accenture gaining market share with their aggressive approach to acquisitions, many are of the opinion companies like Infosys should decide if they want to remain without acquisitions and stick to good old organic growth.

Jun 9, 2018

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Companies

PNB scam: Lapses at several levels led to India's largest bank fraud, report says

Who is Sandeep Bakhshi? ICICI gets new COO amid Chanda Kochhar probe

Only Uday Kotak gets a pay hike among all private bank chiefs in FY18

ICICI Bank to finally boot out Chanda Kochhar? Sandeep Bakhshi to be named CEO

Tesla layoff ordeal: Employees were caught off-guard by vague midnight mail

Japan's SoftBank to invest up to $100 billion to boost India's solar power production

Cash-strapped Rolls-Royce to cut 4,600 jobs, mostly in the UK

Tesla sends home 9% workers as Elon Musk chases elusive profits

ICICI Bank CEO Chanda Kochhar's latest troubles – Investigation by SEC and possible punishment

Hyderabad ready for DIY furniture with Ikea to open on July 10, which cities are next?

Xiaomi posts $1 billion first quarter loss ahead of IPO

Can Patanjali and Baba Ramdev build an MNC-style empire?

BSNL comes up with a new broadband plan to take on Jio and other incumbents

Thousands left jobless in Tamil Nadu as small, medium industries close

Organic growth or aggressive approach? Why Infosys needs to decide soon

Time for India to follow suit? France, Germany, Netherlands, US banned use of EVMs [here's why]

Dhanush's Captain Miller has no buyers in Telugu states? Here's why

Deepika Padukone is a sight to behold in velvet gown; attends Academy Museum Gala with Selena Gomez, Dua Lip [see pics]