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Rs 650 crore found under concealed income from Cafe Coffee Day income tax raid

The Income Tax raid on the owner of Cafe Coffee Day that started on September 21 went on until September 24, revealed a huge sum of Rs 650 crore under concealed income. The search operation was conducted in around 25 places in Chennai, Mumbai and Karnataka in Cafe Coffee Day and its group of companies. The officials have reportedly seized a number of documents related to their property and business transactions.

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Amazon unveils ‘Buy Now, Pay Next Year’ offer

E-commerce giant Amazon has rolled out a new offer named ‘Buy now, pay next year’, ahead of its Great Indian Festival sale. The offer lets customers buy products and pay for them in instalments after three months. Under the offer, available to HDFC Bank credit card holders, the customers can buy products in the upcoming Amazon sale, but will be required to pay the instalments starting January 2018 only.

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Indian-born Sriram Krishnan joins Twitter as Senior Director

Micro-blogging website Twitter has hired Indian-born Sriram Krishnan as its Senior Director of Product. Sriram, a former top executive from Facebook and Snap is a well-known product executive around Silicon Valley and focused on ad technology. Twitter CEO Jack Dorsey welcomed Sriram with a Twitter post.






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Five lakh new IT jobs to open up, says US

According to the US Department of Labour, employment in the computer and information technology sector is projected to grow 12 percent from 2014 to 2024, faster than the average for all occupations. Computer and IT occupations are expected to add about 488,500 new jobs, about 3.9 million to about 4.4 million jobs from 2014 to 2024 due to a greater emphasis on cloud computing, the collection and storage of big data, more everyday items becoming connected to the Internet, added US Labour Department reports.

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Vijay Mallya's shares transferred to government

The Stock Holding Corporation of India reportedly transferred shares worth Rs.100 crore held by Vijay Mallya to the central government. According to media reports, the properties and assets of Mallya's have been confiscated over the defaulted loan of Rs. 6,000 crore by Kingfisher airlines.

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Infosys' Senior Vice President Sanjay Rajagopalan quits

Infosys’ senior vice-president and Design and Research head Sanjay Rajagopalan Sanjay Rajagopalan reportedly resigned from his post a month after Vishal Sikka stepped down as the company’s managing director and CEO. In his LinkedIn profile, Rajagopalan described himself as a “free man”. Rajagopalan headed the Design Thinking, a creative, user-centered approach to problem-solving and help the company implement it.

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Airtel rolls out 60GB data for 6 months free of cost

India’s largest telecom operator Airtel has rolled out a new plan that will get its postpaid users 60GB free data for six months at free of cost. Users need to install Airtel TV app on their phones first to avail the plan. On opening the My Airtel app, users will see a banner to claim free data. Users have to click the banner, and follow the on-screen instructions. The free data is credited to the account in next 24 hours.

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Under GST petrol price may come down from Rs 70 to 30

According to reports, if the petroleum products brought under GST regime it could cheapen the fuel price all over India. In Mumbai, petrol prices touched Rs 80 a litre while in Chennai, it is over Rs 70 per litre. If petrol is brought under GST, it may cost as little as Rs 38.10 in Chennai at 12 per cent GST rate.

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Tata Telecommunication to wind up business

Tata Group chairman N Chandrasekaran is reportedly evaluating the option of winding down the mobile services business and Tata Teleservice. The Tata group is in talks with Aircel to sell the beleaguered unit. Notably, it will be the first major Tata unit to be closed down in its 149-year-old history.

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Ex-employees sued Google for gender pay gap

Three female ex-employees have reportedly sued Google as a result of gender pay gap. They stated that Google discriminates female employees by paying less compensation than men even in similar working conditions. But Google alleged that the system ensures the pay fairly for both men and Women.

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Airtel ties up with SK telecom, to launch 5G soon

Telecom major Bharti Airtel has on Wednesday reportedly tied up with South Korean firm SK Telecom. Reports say the two telecom firms will work together to enhance the standards for 5G and advanced technologies like network functions virtualisation (NFV), software-defined networking (SDN) and Internet of Things (IoT).Bharti Airtel, in a statement, reportedly said they will also look to enable an ecosystem for introducing these technologies in India.

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Next big worry for Indian IT service providers is insourcing: Nomura

According to global brokerage Nomura, the rise of insourcing or the practice of moving IT work in-house vs outsourcing to service providers is the next big worry for the Indian IT service providers. Nomura also stated that insourcing is starting to increase, with large outsourcing customers turning substantially inwards for their IT requirements and setting up or expanding global in-house centers.

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New Rs 100 coin to be issued to mark MGR’s birth centenary

The ministry of Finance on Monday reportedly revealed that Rs 100 coins will be soon circulated in India to mark late Chief Minister’s birth centenary. The ministry will also issue new Rs 10 coins to remember the legendary singer MS Subbulakshmi.


The Rs 100 coin will reportedly have MG Ramachandran’s portrait on one side, and the lion capital of Ashoka pillar will be on the other side.


Ra 100 coin - 35 grams

New Rs 10 coin - 7.7 grams

New Rs 5 coin: 6 grams

Metal of new Rs 100 coin:

Silver - 50%, copper - 40%, nickel - 5% and zinc - 5%


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Facebook, Amazon among top 10 fastest-growing firms: Fortune

Social media giant Facebook and e-commerce major Amazon have been ranked among the top 10 firms on Fortune's '100 Fastest-Growing Companies' list. Natural Health Trends maintained its first rank in the list since last year followed by Patcom Software, Lending Tree, ABIOMED, MiMedx as the top 5. Facebook was placed at the 6th position as Amazon secured 9th place in the list. Also, Facebook and Amazon have also been ranked as second and third most profitable companies.

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Infosys to hire 6,000 engineers annually over next two years

U B Pravin Rao, Interim-CEO and MD of IT major Infosys, reportedly said the company will hire about 6,000 engineers annually over the next 1-2 years. “This year that just concluded we had a net addition of 6,000 and we expect similar kind of additions over the next 1 or 2 years, depending on the kind of growth you see in the market”, he reportedly said at an investor meeting.

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Kingfisher beer makers to introduce new beverage

United Breweries will be introducing zero-alcohol beer by early 2018, according to media reports. The makers of Kingfisher have reportedly said that the introduction of non-alcoholic beer is to mainly concentrate on places where alcohol has been banned.

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Nike fires 20% of its employees in India

According to reports, sportswear giant Nike, which pulled out of cricket bat sponsorship deals earlier, has fired 20% of its Indian workforce, as part of its global restructuring process. The company, which closed around 35% of its stores in India as a cost-cutting measure, has also reportedly asked many others to join its operations in Southeast Asia.

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India a great place to do business: Coca-Cola CEO

Coca-Cola President and CEO James Quincey on Thursday reportedly described India as a great country and a great place to do business. "India is going to return to vibrant growth. India can be a very successful place to build the business. The idea is let's get from six to five on the way to being no 3 is the mandate", James said. Further, he said that he is looking to build the fundamentals stronger to make India's business much bigger.

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Amazon sued for non-payment of rental dues in Mumbai

E-commerce firm Amazon has reportedly been sued by a Mumbai firm for not paying the rent. The lawsuit claims that Amazon vacated the firm without complete payment. According to media reports, last year a Chennai based educational firm alleged that Amazon used their brand name to drive traffic to their website.

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Zara's CEO becomes the world's richest person

Amancio Ortega, CEO of Zara, a clothing company, has reportedly become the world's richest person on Wednesday morning with a net worth of  $85 billion.  He put down Microsoft CEO Billgates with a difference of $0.6 billion. According to media reports, Ortega was on the top in 2015 for less than a day. Reportedly Zara has become one of the popular international brands in India and a 5-storey building was opened in Mumbai recently.

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