FIRM

  • US CEO takes 90 per cent pay cut to give workers huge raise April 15, 2015

    Los Angeles: A CEO of an American firm has surprised one and all by announcing a 90 per cent pay cut for himself and slashing of company's profits to give employees a hefty salary hike after he read a study about happiness. The boss of a technology start-up in Seattle shocked...
  • Only 2 per cent of large British firms have insurance against cyber attacks: Report March 23, 2015

    London: Only 2 per cent of large British firms have separate insurance against cyber attacks and the number dwindles to nearly zero for smaller firms, the government said in a report on Monday. Responding to concern that companies are not protected against the risks of cyber attacks, which cost billions of...
  • Nintendo's shares swell following its decision to develop smartphone games March 19, 2015

    Tokyo: Shares in Japanese video game maker Nintendo Co on Wednesday notched their biggest daily gain since listing as investors cheered the decision by the creators of Super Mario to venture into smartphones in a bid to retain users. The stock ended limit-up, or 21 per cent, at $141, a day...
  • Wipro invests $5 million in US-based cloud solutions firm Drivestream Inc. March 18, 2015

    Bengaluru: IT bellwether Wipro has invested Rs.31 crore to pick a minority stake in Drivestream Inc., a US-based leading Oracle cloud applications systems integrator, with development centre in Chennai. "As a strategic partner in Drivestream, we will build an integrated cloud solutions stack for our customers," Wipro said in a statement...
  • Research firm IDC forecasts a bigger decline in PC sales in 2015 March 13, 2015

    New York: A research firm is forecasting a bigger decline in personal computer sales in 2015. International Data Corp. projected Thursday that PC sales would drop 4.9 per cent to 293.1 million worldwide. IDC had previously forecast a 3.3-per cent drop. PC sales fell 2.2 per cent in 2014.IDC said...
  • Air India to hire PR firm for image make-over March 6, 2015

    New Delhi: With frequent delays and cancellations of flights denting its reputation, national carrier Air India has planned to engage an image make-over firm to regain the customers' confidence. The airline recently floated tenders, inviting technical and commercial bids from interested PR firms. March 30 is the last date for...
  • MediaTek keen on expanding business in India February 8, 2015

    New Delhi: Taiwan-based electronic chip firm MediaTek's Chairman MK Tsai met Telecom Minister Ravi Shankar Prasad and expressed keen interest in expanding presence in the country. "MediaTek chairman (MK Tsai) shared his commitment to make technology more accessible for people. He was encouraged by the great market potential that India holds...
  • Infosys beats estimates, Q3 profit up 13 per cent January 9, 2015

    Mumbai: Infosys Ltd, India's second-largest software services exporter, posted a 13 percent rise in quarterly net profit on Friday, beating estimates, as it won more outsourcing contracts from Western clients. Infosys, which provides IT services to clients including Apple Inc, Wal-mart Stores and Volkswagen, said profit in the quarter ended December...
  • IIT Delhi students turn down $125,000 offers for domestic firms December 9, 2014

    New Delhi: Domestic offers seem to be gaining traction among some IIT Delhi students, who have turned down international offers with over $125,000 per annum packages to work within the home country. As per details of the annual placement drive shared by the premier engineering institute, the first six days of...
  • Coimbatore: Rs 1.70 crore of gold ornaments stolen from financial firm November 24, 2014

    Coimbatore: Gold ornaments worth Rs 1.70 crore and Rs 5.6 lakh in cash were stolen from a city- based private financial firm dealing in gold loans, police said. A woman sweeper noticed the main doors of the firm at Kovaipudur area open and informed the security guard. He in turn...
  • Karnataka Labour Department asks US IT firm to pay Rs 12.5 lakh to techie for sacking her November 5, 2014

    Bengaluru: The Karnataka Labour Department has ordered a US-based IT firm to compensate a woman employee on grounds of 'illegally' terminating her services without providing valid reasons and for allegedly causing harassment. The techie had approached the Labour department on Karnataka Women's Commission's direction, and after hearing the case, the department...
  • IIT-Kharagpur student offered Rs 91 lakh salary package November 4, 2014

    Kolkata: A month away from final placements, IIT Kharagpur students are being flooded with pre-placement offers with a 20 per cent increase this year. IIT officials said already around 125 students have been extended pre-placement offers and interviews, where most of the companies have increased the package offered by around 20...
  • Bangalore police shows the way, uses Twitter to catch criminals October 30, 2014

    Bangalore: Two people have been arrested in a fake job consultancy network that the Bangalore police busted with the help of Twitter. A youngster who was cheated by the fake job consultancy firm emailed Bangalore police and alerted them about the alleged scam. The young man found the email address...
  • Insurance firms may take Rs 2,400 crore due to Hudhud October 22, 2014

    Hyderabad: USA-based catastrophe modelling firm AIR Worldwide has estimated that insurance companies may take a hit of around Rs 2,400 crore due to Cyclone Hudhud which recently battered Andhra Pradesh and Odisha coasts. AIR Worldwide's insured loss estimates assume that an insurance penetration of 3% for residential lines, 20% for commercial,...
  • Indian engineer sentenced for stealing trade secrets in US October 17, 2014

    New York: An Indian engineer has been sentenced to 18 months in prison and ordered to pay thousands of dollars in restitution for stealing trade secrets from two global medical technology firms based in New Jersey here. Ketankumar Maniar, 38, a former New Jersey resident had previously pleaded guilty before US...
  • Microsoft chief Satya Nadella faces criticism for saying women should not ask for raises October 10, 2014

    Seattle: Microsoft's chief executive officer suggested on Thursday that women in technology should not ask for raises but have faith in the system, bringing a torrent of criticism and causing the executive to backtrack after the statement. Satya Nadella, who became CEO in February, was asked how women should get ahead...
  • Gujarat FSL to tie up with USbased firm for ballistic testing September 8, 2014

    Ahmedabad: Gujarat Forensic Science Laboratory, which provides services to various companies for testing of armour panels and bulletproof jackets, is likely to soon tieup with a USbased firm to share best practices in the field of ballistic testing. The Gandhinagarbased FSL has it own ballistic testing centre where it tests products...
  • Chinese firms to teamup with Indian firms for rail projects September 3, 2014

    Beijing: Chinese firms are teaming with Indian companies to jointly bid for five highspeed railway projects in India in an apparent attempt to compete with Japan's plans to build bullet trains. The Indian government will soon open the projects for public bidding and Tata Projects, one of the fastest growing infrastructure...
  • 12 Indian firms in Forbes' 50 best companies in AsiaPacific September 2, 2014

    New York: Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in AsiaPacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines". The Forbes 2014 'honour roll of the Fabulous 50' lists best...
  • Firms tool up for defence orders on Narendra Modi's 'make in India' pledge August 21, 2014

    New Delhi: Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories. India, the world's largest arms importer, will spend $250 billion in the next decade on...
  • Average CEO salary at top Sensex firms near Rs 10 crore July 27, 2014

    New Delhi: The average CEO pay at India's top listed companies has risen to Rs 10 crore a year, but still remains less than onetenth of over Rs 100 crore median remuneration paid to their peers in the US. The top executives of the country's biggest blue chip companies, forming...
  • Defence Ministry clears acquisition proposals worth Rs 21,000 crore July 19, 2014

    New Delhi: Pressing ahead with its policy to promote domestic military industry, the government on Saturday cleared procurement proposals worth over Rs 21,000 crore and also okayed a project for the production of transport aircraft which is open only to Indian private sector companies. Among the major proposals to receive approval...
  • Infosys becomes first IT firm to file sustainability report July 2, 2014

    Bangalore: Global software major Infosys Ltd became the world's first IT firm to file a sustainability report based on the latest global reporting initiative (GRI) framework, the IT bellwether said on Wednesday. "As a valuedriven company, we follow the highest levels of disclosure, besides ensuring compliance with the laws of the...
  • Iraq violence puts energy projects by Indian firms at risk June 19, 2014

    New Delhi: As escalating violence brings Iraq to a standstill, energy sector projects of Indian firms Lanco Infratech and BGR Energy may be put at risk in the wartorn nation. Lanco Infratech had a contract to build a 250 MW power plant at Akaz in Iraq, while BGR Energy is setting...
  • DLF becomes India's first realty firm to get ISO certification June 17, 2014

    New Delhi: Realty giant DLF said on Monday it has become the country's first real estate developer to get ISO 9001:2008 quality certification for development of housing and commercial projects. "DLF Home Developers Ltd, a part of DLF, has received ISO 9001:2008 certification after meeting the stringent guidelines set out...
  • Facebook acquires mobile data plan firm Pryte June 4, 2014

    San Francisco: Facebook is acquiring Pryte, a Finnish company that aims to make it easier for mobile phone users in underdeveloped parts of the world to use wireless Internet apps. Facebook did not disclose financial terms of the deal, which spokeswoman Vanessa Chan said is expected to close later this month. Pryte's...
  • India aims for single window clearance for IT firms in China June 1, 2014

    Beijing: Eyeing a big foothold in China's booming IT services industry, India aims to press Beijing for working out a "single window clearance" concept to enable Indian IT companies to enter the Communist giant's market. "Hopefully we are able to negotiate a single window" concept to enable IT companies to enter...
  • BG Srinivas tipped to join another IT firm as CEO amp;amp; MD May 29, 2014

    Infosys' latest high profile exit BG Srinivas may join another IT services firm as its Chief Executive Officer (CEO) and Managing Director. Considered among the top contenders for the first nonfounder CEO post at the company, Srinivas who is a Infosys Board Member and President, has resigned in a surprise move. This...
  • 9 Indian firms in Forbes most innovative growth list May 22, 2014

    As many as nine Indian firms have made it to the Forbes World's 100 most innovative growth companies list, which has been topped by New Zealand software accounting firm Xero. The list has been made on the basis of Innovation Premium, which Forbes described as a measure of how much investors...
  • EU adds 13 people, 2 firms to Ukraine list May 13, 2014

    European Union foreign ministers have added 13 people to their visa ban and asset freeze list over Ukraine's crisis but are not expected to decide whether to impose tough economic measures on Russia before Ukraine's May 25 elections, officials said. The 28 EU ministers also said in a statement on Monday...