Indian multinational IT firm Tata Consultancy Services (TCS) on Tuesday bagged a $690-million deal with the UK and European savings and investments business of Prudential plc, M&G Prudential. Under the 10-year contract, TCS will support over four million customer policies. This big contract is the third large outsourcing contract won by TCS in less than a month.
Baba Ramdev’s Ayurvedic products company ‘Patanjali Ayurved’ reportedly said that the company is aiming to reach a Rs 1,000 crore mark this year and to achieve that the company has reportedly announced its entry into the online market. Having tied up with eight e-commerce platforms, the company said that its entire range of products will be made available online.
BY AISHWARYA | JAN 16, 2018 9:45 PM #PATANJALI #BUSINESS NEWS
In a shocking incident, Rs 22 lakh was taken from two SBI accounts in Kasargod branch. Two cooperative banks were found to be the owners of the accounts. The amount was reportedly used to buy bitcoin and the cyber cell officers are investigating the case.
BY AISHWARYA | JAN 14, 2018 10:25 PM #SBI #BUSINESS NEWS
An ad published by Baba Ramdev’s Patanjali in the Deccan Chronicle on December 17 states that dark complexion is a skin ailment. The ‘Beauty Cream’ ad reads, “Possesses the benefits of wheat germ oil, turmeric, aloe-vera, and basil etc. which are extremely beneficial for skin ailments like dry skin, dark complexion and wrinkles.” It further goes on to say that the cream gives people the confidence of 100% natural beauty.
No Baba Ramdev... 'dark complexion' is NOT a skin ailment. Did Tarun Vijay write your ad? pic.twitter.com/laHsUVjFGL— Karthik (@beastoftraal) January 8, 2018
As a compensation for the state government for GST, the Centre has reportedly allocated Rs 632 crore for the period of July to October 2017. As the compensation for the first two months (July, August - Rs 530 crore) after GST implementation was higher than the subsequent two months (September, October - Rs 102 Crore), it means that the state was able to get higher profit from GST.
BY AISHWARYA | JAN 7, 2018 8:57 AM #GST #BUSINESS NEWS
The Hyderabad Police have reportedly filed a criminal case against Verizon Data Services India for using bouncers and forcefully extracting resignations from employees. The company on December 12 and 13 asked over 500 people to leave in Chennai and over 200 in Hyderabad, say reports. An employee alleged that the bouncers pushed him back into his chair and held him by his shoulders till he signed the document, reports added.
BY VIKRAMAN MANIRAJ | JAN 5, 2018 10:36 PM #FIRING #LAYOFF #VDSI #VERIZON #BOUNCERS #BUSINESS NEWS
Telecom major Airtel has revised its Rs 799 prepaid plan in an attempt to take on Reliance Jio’s Rs 799 plan. Airtel’s plan now offers 3.5 GB of 3G or 4G data per day along with unlimited local and STD voice calls with a validity of 28 days. Users will avail a total of 98 GB of 3G/4G data for 28 days. Meanwhile, Jio's Rs. 799 plan offers 3 GB of 4G data per day for 28 days.
BY VIKRAMAN MANIRAJ | JAN 3, 2018 4:13 PM #AIRTEL #RELIANCEJIO #PREPAIDPLAN #PREPAIDRECHARGE #BUSINESS NEWS
India’s largest lender State Bank of India on Monday lowered interest rates from 8.95% to 8.65%. A senior SBI official reportedly said the reduction of base rate by 30 basis points is likely to benefit a large number of old borrowers. The base rate is the floor rate below which the bank does not give loans to prime customers. SBI’s move will benefit long-term retail borrowers particularly students and the home loan borrowers, suggest reports.
BY VIKRAMAN MANIRAJ | JAN 1, 2018 5:17 PM #SBI #INTERESTRATE #BASERATE #BUSINESS NEWS
According to a report by research firm Counterpoint, Apple earned a profit of $151 (more than Rs 9,600) per handset on an average in the July-September quarter this year. This is five times higher than Samsung’s profit of $31. Counterpoint Research Director Neil Shah was quoted as saying, "Our recent channel checks across key Apple markets showed, the demand for the 256GB version of iPhone X is higher which will boost Apple's profits even higher."
BY POOJA | DEC 28, 2017 8:29 PM #APPLE #PROFIT #BUSINESS NEWS
According to a report by News 18, popular online shopping firms including Flipkart, Shopclues and Snapdeal sell fake products in large quantity. The report said that the manufacturers and seller use loopholes in the Information Technology Act, while online retailers claim that they are just intermediaries. Over 60% of sports goods and at least 40% of the apparel listings are fake, the report added.
BY VIKRAMAN MANIRAJ | DEC 28, 2017 6:50 PM #ONLINESHOPPING #FAKEPRODUCTS #BUSINESS NEWS
US - based footwear brand Skechers has reportedly filed a case against Flipkart and four sellers on its platform for allegedly selling fake versions of their products. 15,000 pairs of fake shoes that were to be sold as Skechers products were recovered in a raid from several warehouses in Delhi.
BY POOJA | DEC 25, 2017 8:13 PM #FLIPKART #SKECHERS #BUSINESS NEWS
CEO of SpaceX, Elon Musk asked for the cost of Twitter after a journalist suggested him to buy the micro-blogging platform. Musk tweeted, "I love Twitter", for which the journalist suggested the idea.
I love Twitter— Elon Musk (@elonmusk) December 21, 2017
How much is it?— Elon Musk (@elonmusk) December 21, 2017
BY LOKESH RV | DEC 23, 2017 11:27 AM #ELONMUSK #TWITTER #BUSINESS NEWS
IT major Tata Consultancy Services (TCS) has bagged the largest ever deal by an Indian IT firm. TCS reportedly signed a $2.25 billion outsourcing contract from television rating measurement firm Nielsen. The deal is the largest ever by an Indian IT firm. The deal is a renewal of TCS' existing collaboration with Nielsen.
BY LOKESH RV | DEC 22, 2017 5:32 PM #TCS #IT #BUSINESS NEWS
After the rumors about the closure of public sector banks surfaced, the Reserve Bank of India on Friday announced that they do not have any such plans. The RBI also requested public not to believe or spread any such rumors.
BY AISHWARYA | DEC 22, 2017 4:13 PM #RBI #BUSINESS NEWS
In a breaking move, the tax on the import of electronic goods like television, mobile phones, tablets, and laptops, have been doubled. Earlier the tax on such items was 10% and now it has been increased to 20%.
BY AISHWARYA | DEC 15, 2017 12:15 PM #TAX #INPORT #BUSINESS NEWS
American multinational conglomerate corporation General Electric has reportedly planned to cut 12,000 jobs from its power division. The decision has been made to cut costs and scale back on struggling business units. The job cuts include both professional and production employees.
BY LOKESH RV | DEC 8, 2017 5:12 PM #GENERALELECTRIC #JOBS #BUSINESS NEWS
Tech giant Infosys reportedly appointed Salil S Parekh as the chief executive officer and managing director of the company on Saturday. "We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry.” Nandan Nilekani, chairman of the Infosys board said in a press release.
BY LOKESH RV | DEC 2, 2017 4:14 PM #INFOSYS #CEO #BUSINESS NEWS
German luxury carmaker Audi has reportedly announced discounts up to Rs 8.85 lakh as part of its Audi Rush limited period offer, says a report by The Hindu. The company reportedly said it offers the “special prices” and easy EMI options on Audi A3, Audi A4, Audi A6 and the Audi Q3 as part of its year-end sales. Under the Audi Rush limited period offer, Audi A3 costs Rs 26.99 lakh against its list price of Rs 31.99 lakh, Audi A4 at Rs 33.99 lakh against Rs 39.97 lakh, Audi A6 sedan at Rs 44.99 lakh against Rs 53.84 lakh and SUV Audi Q3 at Rs 29.99 lakh against Rs 33.4 lakh, the report added.
BY VIKRAMAN MANIRAJ | DEC 1, 2017 11:31 PM #AUDI #YEARENDSALE #AUDIRUSH #SPECIALPRICES #BUSINESS NEWS
Japanese automaker Nissan Motor has reportedly sued the Indian government over unpaid dues of nearly Rs 5,000 crore. Tamil Nadu government had promised Nissan of several incentives including tax refunds as part of an agreement to set up a manufacturing unit in Chennai in 2008. Nissan has reportedly begun international arbitration after repeated requests by the company to the state officials were allegedly overlooked. The company in 2016 sent a legal notice to PM Modi seeking the payment of incentives due in 2015.
BY VIKRAMAN MANIRAJ | DEC 1, 2017 8:49 PM #NISSANMOTOR #JAPAN #INCENTIVES #BUSINESS NEWS
Founders of e-commerce giant 'Flipkart', Sachin Bansal and Binny Bansal were reportedly booked on grounds of ‘cheating’ a businessman of Rs 99 crores. Reportedly, the company did not clear the amount with which they bought 12,500 laptops. Three other employees were also reportedly booked for the same case. Naveen Kumar, owner of Indiranagar-based C-Store Company registered an FIR against the founders.