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Infosys CFO Rajiv Bansal quits, Ranganath D Mavinakere new CFO

Rajiv Bansal, EVP and the CFO of Infosys, has stepped down from his post. Ranganath Mavinakere, EVP and head of strategic operations and CEO's office was appointed to replace him.


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Vodafone wins crucial Rs 8,500 cr transfer pricing case

Vodafone India has won its legal battle against the income-tax department in an Rs 8,500 crore transfer pricing case in the Bombay High court. The dispute relates to the sale of the Ahmedabad-based call centre business...


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Former employee sues Wipro for sexual harassment, discrimination

A former Wipro employee has sued the IT major for up to 1 million pound, accusing a former senior executive of sexual harassment and the company of unfair dismissal. However, the firm has dismissed the allegations as...


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Latest iPhones fail to do good business in Japan: report

A Digitimes article has highlighted a BCN report which claimed that the latest iteration of the Apple iPhone failed to do good business in Japan. The report added that the iPhone 6s and the iPhone 6s Plus racked up sales...


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Merkel pledges a billion euros for solar energy

Giving a push for clean energy, Germany on Monday pledged about 1 billion euros (Rs 7,300 crore) assistance for India's solar projects as the two countries decided to forge a renewable alliance to boost cooperation in the sector.


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Soon, PAN Card may be required in cash transactions beyond certain limit: FM

Producing permanent account number (PAN) card details for cash purchases beyond a certain limit will be mandatory in the future, according to Union Finance Minister Arun Jaitley.


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Government's Black Money Drive fetches 3,770 crore

The Government of India received an amount of Rs 3,770 crore from 638 declarations under the one-time black money compliance window that ended on Wednesday, September 30. However, the money declared is far less than what Prime...


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SC rejects Essar's plea challenging Special 2G court's jurisdiction

The Supreme Court (SC) has rejected pleas of Essar Teleholdings Ltd and its promoters challenging the Special CBI court's jurisdiction to hold trial against them in the 2G spectrum scam case. On Sept 22, the SC had...


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Raghuram Rajan sees the light; RBI cuts repo rate by 50 bps to 4-year low

The Reserve Bank of India on Tuesday reduced its key repo rate by a bigger-than-expected 50 basis points (bps) to 6.75%, with inflation running low and the economy in threat of slowing down.


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Mukesh Ambani richest Indian yet again, Flipkart's Bansals new entrants

Reliance Industries (RIL) chairman Mukesh Ambani has topped Forbes India Rich list for the ninth year in a row with a net worth of $18.9 billion, while ecommerce giant Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.


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Indian IT companies are world's worst paymasters, study says

A survey has revealed that Indian IT companies are among the 10 worst paymasters in the world. In India a mid-level IT manager gets an average salary of $41,213 while his Swiss counterpart gets over four times more.


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Spicejet offering 15% festive discount through mobile app, 10% on website

Indian low-cost airline Spicejet is offering a festive discount that slashes airfares by up to 15 per cent on domestic flights on booking through mobile app, and 10 per cent discount on booking through the official website...


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Tata Steel sells 1.33% stake in Tata Motors for Rs 1250 cr

Tata Steel will sell stock worth Rs 2500 crore ($376 million) it holds in Tata Motors in the two separate transactions of Rs 1,250 crore. Tata Steel said it will also sell similar stake in Tata Motors to its promoter...


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HP to slash up to 30000 more jobs as it splits in two

As part of its efforts to reduce its expenses, Hewlett-Packard (HPQ) is preparing to slash another 30,000 jobs. The spinoff will be completed by the end of next month, cutting 25,000 to 30,000 jobs within HP Enterprise.


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Bain to buy $300m stake in L&T Finance

Shares of Larsen & Toubro (L&T) Finance rose over 4 percent to Rs. 66.75 on reports that U.S.-based Bain & Company is planning to buy $300m stake in the company.


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United CEO Jeff Smisek resigns amid federal probe

In connection with an investigation into United Airline's dealings, the chairman and CEO of the company has decided to step down. United Continental Holdings Inc. said Tuesday that Jeff Smisek and two other senior executives...


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OVL buys 15% stake in Russia's Vankor oil field for $1.25 billion

ONGC Videsh Ltd (OVL) has bought a 15 percent stake in Russia's second largest oil field from Rosneft for about Rs 8,932.95 crore. OVL signed agreements in Moscow to buy stake in the Vankor oil field in East Siberia...


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Micromax chairman Sanjay Kapoor resigns

Sanjay Kapoor, the chairman of Micromax, has resigned after serving a little more than a year. In an email, the company said "Mr Sanjay Kapoor has decided to move on". Some individuals, familiar with the matter said that his departure is a result of differences with promoters regarding strategy.


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Sensex soars to regain 26,000 amid hopes of RBI rate cut

BSE Sensex and Nifty gained in global markets on Thursday, with Sensex rising as much as 455 points at its day's high of 26,170.39 while Nifty hit 7,930.80. A higher trading rupee also lifted the sentiment.


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Sensex Recovers After 450 Point Fall, Rupee Rebounds

With help from a strong opening in European markets and buying at lower levels, Indian stock markets started off on a high on Tuesday, with the BSE Sensex climbing around 380 points in opening trade, but panic selling...


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Sensex gains over 300 points as regional markets rebound

On Tuesday, Sensex was up by 383.27 points in early trade, whereas Nifty was up by more than 80 points post India's share markets plummeting almost 6% on Monday. Indian shares increased over one percent with regional markets...


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Sensex drops over 1,000 points, rupee at 2-year low

Sensex plummeted by over 1,000 points and the rupee dropped to a two-year low on Monday in the early morning trade, amidst worldwide rout. Shanghai shares crashed 8% over the concerns that the Chinese economy had...


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Maruti hikes prices across models by up to Rs 9000 except for new S-Cross

Maruti Suzuki India has hiked prices of all its products by up to Rs 9,000, except that of newly-launched premium crossover S-Cross, citing changes in dealer margin. The hike has come within a fortnight of rival Hyundai...


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Small finance bank licences in Sept: Rajan

After granting in-principle approval to 11 applicants for payments banks, Reserve Bank of India (RBI) governor Raghuram Rajan said licenses for small finance banks will be announced next month.


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Amazon faces flak for alleged difficult work conditions

The New York Times (NYT) story about work conditions at Amazon has got mixed response. The article describes coldhearted bosses at Jeff Bezos' company, annual staff cuts described as "purposeful Darwinism" and grueling...


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Maggi row: Govt to go ahead with Rs 640 cr suit despite Bombay HC verdict

Union Minister Ram Vilas Paswan has said that the verdict by the Bombay HC does not alter the grounds on which it has claimed Rs 640 crore in damages from Nestle for false advertisement and unfair trade practices.


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Startups.co comes to the aid of closed on-demand virtual assistant firm Zirtual

A startup that had raised $5.5 million suddenly dissolved. It deleted its Facebook pages, Twitter accounts, and Google + profile. It changed its website to say its "pausing operations."


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Govt hits Nestle with Rs 640-cr damage suit over Maggi

More than a month after banning Maggi, the government on Tuesday slapped a Rs 640 crore damage suit on Nestle India. In a first-of-its-kind "class action" complaint against Nestle India, the government lodged a...


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BMW ponders if Google's Alphabet infringes trademark rights

BMW on Tuesday said it was determining whether Google violated any trademark rights after the Silicon Valley-based group started a new company called Alphabet, which is also the name of a BMW subsidiary.


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Greek debt crisis: Greece, lenders reach bailout deal

Greece and international creditors settled on a new multi-billion euro bailout deal on Tuesday, said a finance ministry official, in a agreement which will keep the country in the eurozone and prevent bankruptcy.


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