Companies

US imposes sanctions on eight Venezuela supreme court justices as violence continues

The US Treasury department announced on May 19 new sanctions on Venezuelan officials for alleged human rights abuses. The news comes as the month-long protests and deadly clashes continued against President Nicolas Maduros government.

May 19, 2017

IT layoffs: Nasscom says IT sector still hiring but warns employees to 're-skill or perish'

Nasscom revealed that the companies added about 1.7 lakh jobs in the 2016-17 period and also said that the IT giants can be expected to hire about 1.5 lakh employees this year.

May 19, 2017

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RP-Sanjiv Goenka Group's CESC announces business restructuring scheme

This (the restructuring scheme) will lead to four entities focusing on generation, distribution, organised retail and other ventures," Group Chairman Sanjiv Goenka said.

May 19, 2017

Freudenberg's seven business groups generated sales of Rs 1,483 crore in India

Freudenberg has six R&D centers and 14 production sites in India.

May 19, 2017

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Hudco lists at 22% premium to issue price

The Hudco IPO was oversubscribed 79 times; the share listed at Rs 73.45 on the BSE.

May 19, 2017

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State Bank of India Q4 results: Will SBI declare bonus shares, the first in its history?

State Bank of India (SBI) will be declaring its Q4 and FY2017 results on Friday; shareholders would hope for a bonus issue, the first in the bank's history.

May 18, 2017

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Quess Corp beats TCS, Infosys, Wipro in hiring

Business services provider Quess Corp hired more than TCS, Infosys and Wipro did in 2016-17, apart from posting upbeat results.

May 18, 2017

Cisco Systems to lay off 1,100 employees as part of restructuring plan

Cisco Systems announced on Wednesday that it would lay off 1,100 employees. The company, based in San José, California, had announced 5,500 job cuts in August 2016.

May 18, 2017

JSW Steel Q4 net profit rises three-fold, revenues up 60%

For the fourth quarter (Q4) ended March 2017, JSW Steel's standalone net profit stood at Rs 1,003 crore and total income at Rs 16,952 crore.

May 17, 2017

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Hindustan Unilever net profit, revenues rise modestly for March quarter

Standalone net profit and revenues grew 6 percent in Q4, Hindustan Unilever said in a statement to the BSE on Wednesday.

May 17, 2017

Wipro launches blockchain-based solutions

The Bengaluru-based IT company says the solutions were defined, designed and co-developed with clients at Wipro's Blockchain Innovation Lab.

May 17, 2017

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Over 90% startups in India fail in first five years: IBM

Startups in the country are facing funding roadblocks both at entry and exit stages.

May 17, 2017

RIL asks its 40,000 employees asked to switch from Airtel, Vodafone to Jio

Mukesh Ambani tops Forbes list of Global Game Changers

Reliance Industries chairman Mukesh Ambani successfully forayed into mobile telecom with Reliance Jio last year and has many other achievements to his credit, says the Forbes List of Global Game Changers.

May 17, 2017

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Paytm Payments Bank to commence operations from May 23

In a communication, One97 Communications says Paytm Payments Bank has received final licence from RBI.

May 17, 2017

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Tata Steel leads Sensex rally, up 8% after upbeat Q4 results

Fourth quarter (Q4) profit before exceptional item rose sharply to Rs. 3,352 crore, revenues were up 30 percent on higher output and pricing for Tata Steel, triggering a rally in share price.

May 17, 2017