Apple CEO Tim Cook has said the company's share in India “is quite low relative to the size of the opportunity” and setting up retail stores in the future in the country will be a great initiative.
Bank of Baroda (BoB) is the first public sector bank to consider work-from-home (WFH) as a permanent policy for a section of its employees. BoB, which recently concluded the integration of Dena Bank and Vijaya Bank with itself, has appointed management consultancy firm McKinsey & Co to help implement a strategy for a post-Covid world.
Axis Bank has said that those who get classified as defaulters on credit cards will see their home loans tagged as a non-performing loan as well. The bank has said that this is a part of its prudent provisioning practice in tackling troubled loans.
Millions of amateur stock traders collectively are taking on some of Wall Street’s most sophisticated investors. They’ve piled into trades around companies that other investors had written off, pushing stock prices to stratospheric levels.
Over the past week, a collective of individual traders on Reddit’s r/WallStreetBets community sent GameStop stock to astronomical heights in an experiment to stick it to hedge funds, which had sold the stock short. At the beginning of this year, GameStop was trading at $17. By Wednesday afternoon, it was over $340.
The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record high just two days earlier. The Dow and tech-heavy Nasdaq composite also fell more than 2%. The sell-off left the S&P 500 and Dow in the red for the year.
Infosys announced on Wednesday that it has been recognised as the fastest growing among the top ten IT services brands, by brand valuation firm 'Brand Finance', in its Global 500 2021 report.
Tata Consultancy Services (TCS) has been ranked third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
FMCG major Hindustan Unilever Ltd on Wednesday reported a 20.3 per cent rise in consolidated net profit to Rs 1,938 crore for the third quarter ended December 2020. The company had posted a net profit of Rs 1,631 crore in the October-December quarter previous fiscal.
Equity indices fell on Wednesday with the benchmark BSE sensex falling over 900 points, dragged by banking and financial stocks. The 30-share BSE index plunged 938 points or 1.94 per cent to finish at 47,410; while the broader NSE Nifty settled 271 points or 1.91 per cent lower at 13,968.
India's recently-enacted agri laws have the potential to increase farmers' income, but there is a need to provide a social safety net to the vulnerable cultivators, IMF's chief economist Gita Gopinath has said.
China's ByteDance is cutting the size of its 2,000-plus India team and is unsure when it will make a comeback, the company told employees in an internal memo on Wednesday, months after its popular TikTok video app was banned.
A spat erupted Tuesday between Jeff Bezos and Elon Musk as the tech titans' space firms exchanged barbs over their rival satellite internet projects being evaluated by regulators.
The government is set to amend laws to streamline the functioning, especially the disciplinary aspects, of three professional institutes — the Institute of Chartered Accountants of India (ICAI), Institute of Cost and Works Accountants of India (ICWAI) and Institute of Company Secretaries of India (ICSI).
With International Monetary Fund (IMF) projecting that India will reclaim the status of world's fastest-growing economy and projected its growth at 11.5 per cent in 2021, experts on Wednesday said that India is rebounding to achieve the target of a $5 trillion economy.
Michael Sanchez betrayed his sister and Bezos by selling their private communications to the tabloid for $200,000 and then doubled down by filing a lawsuit, Bezos, with a net worth of $193 billion, said in his court filing.
With work from home becoming the new normal, it is going to be difficult for the finance minister to separate salary from business income. Raising the standard deduction for salaried employees may help level the field.
"Withdrawn". A single word on a thick bureaucratic file on the seventh day of the Biden administration delivered a huge win for spouses of workers on H-1B visas in the US who spent the last four years worried sick that their work authorisations would be killed off.
The US technology stalwart reported net income of $15.5 billion in the final three months of last year, a 33 percent jump from the same period in pre-pandemic 2019.
The spread of Covid-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund (IMF) forecast on Tuesday. After sinking 3.5% in 2020, the worst year since World War II, the global economy will grow 5.5% this year, the 190-country lending organization predicted.
US consumer confidence rose moderately in January while lingering concerns about the Covid-19 pandemic led to a further deterioration in households’ perceptions of the labor market, raising the risk of a second straight month of job losses.
The oil ministry is eyeing the InvIT (Infrastructure Investment Trust) the route to monetise pipelines worth about Rs 6,000 crore built by India’s largest gas utility GAIL, charting a new course for raising funds for the government as the pandemic spooks big-ticket disinvestments such as of Bharat Petroleum.
The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
The global economy, ravaged by the Covid-19 pandemic, is projected to grow at 5.5 per cent in 2021 and 4.2 per cent in 2022, the International Monetary Fund (IMF) said on Tuesday, reflecting the expectations of a vaccine-powered strengthening of business activities later in the year and additional policy support in a few large economies.
Overseas investment by domestic firms fell by over 42 per cent to $1.45 billion in December 2020, according to Reserve Bank data. In the year-ago period, companies in India had invested $2.51 billion in their foreign firms (joint ventures/wholly-owned units).
India is likely to double health spending in the next fiscal year with the aim of raising expenditure in the sector to 4% of gross domestic output in the coming four years, two officials said, as the country looks to fix its health system after the coronavirus pandemic.
US President Joe Biden has signed an executive order that strengthens the existing Buy American rules by closing loopholes and reducing waivers granted on federal purchases of US-made goods to ensure that American manufacturing is part of the engine of the country's prosperity.
Hero MotoCorp, the leader in the Indian two-wheeler market, is fuelling up for the next leap in mobility. On the canvas could be connected, autonomous and shared commercial as well as personal platforms and products, which may include an electric car.
India witnessed a 13% rise in foreign direct investment (FDI) to $57 billion in 2020 compared to the previous year. The domestic figure was boosted by investments in the digital economy, while China overtook the US as the largest recipient of FDI globally, according to an UNCTAD report.
The Union Budget is around the corner and given the tough year due to the pandemic, a salaried taxpayer’s expectations are high. The year 2020 had posed a lot of challenges such as salary cuts, additional expenses due to remote working, inability to claim certain exemptions like fuel reimbursements, house rent, etc.
In a sweeping move that may lead to legal challenges and further acrimony between India and China in the digital space, the government has permanently banned 59 Chinese apps, and these are believed to include top ones such as ByteDance’s TikTok, Baidu, WeChat, Alibaba’s UC Browser, shopping app Club Factory, Mi Video Call (Xiaomi), and BIGO Live.
No major economy has grown 8-10 per cent without opening up of market, and India should bring down tariff on industrial goods to 10 per cent, Niti Aayog former vice-chairman Arvind Panagariya said on Monday.
Amazon has intensified its legal battle against Future Group and its promoter -Kishore Biyani-with a new case in the Delhi high court to enforce the Singapore arbitration ruling in India, which had stayed the Rs 24,731 crore Reliance-Future deal.
Country's largest software exporter Tata Consultancy Services (TCS) on Monday surpassed Reliance Industries Ltd to become the country's most valued firm by market capitalisation. In another milestone, TCS also emerged as the most valued IT company in the world as its market valuation went past that of Accenture.
The Reserve Bank of India (RBI) on Monday refuted reports of withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency notes. While announcing the issuance of new Rs 100 denomination banknotes with base colour lavender in July 2018, RBI had said banknotes in the denomination of Rs 100 issued by it in the earlier series will continue to be legal tender.
Google employees from across the globe are forming a union alliance, weeks after more than 200 workers at the search engine giant and other units of parent company Alphabet Inc formed a labor union for US and Canadian offices.
Amazon.com Inc has requested to block partner Future Group’s $3.4 billion deal to sell its retail assets to Reliance Industries, in its latest attempt to derail the deal, a court filing seen by Reuters showed.
Equity indices plunged on Monday with the benchmark BSE sensex falling over 500 points dragged by losses in IT and FMCG stocks.The 30-share BSE index fell 531 points or 1.09 per cent to finish at 48,348; while the broader NSE Nifty settled 133 points or 0.93 per cent lower at 14,239.
India’s economy showed signs a recovery is taking root as waning virus cases and a vaccine roll-out supported sentiment and as focus turns to further stimulus possible in the upcoming Union Budget 2021-22.
Finance minister Nirmala Sitharaman faces a huge challenge this year. The Covid pandemic raged through 2020, roiling economies and ruining many lives. The government’s revenues are down but expenditure commitments are up (think of the free vaccines promised).
You may have been dreaming of owning prized stocks like Berkshire Hathaway, Amazon and Alphabet (Google), but a steep price has been a deterrent. Right? For instance, one share of Warren Buffett’s Berkshire Hathaway, which is trading at $350,620 apiece, will cost you nearly Rs 2.6 crore at an exchange rate of Rs 73 to a dollar.
Around half-a-dozen companies — including Paytm and EtechAces Marketing and Consulting, which houses both PolicyBazaar and PaisaBazaar — are considering an international listing but are awaiting detailed guidelines from the corporate affairs ministry and the revenue department.
The railway ministry has proposed to step up its capital expenditure by 13% next year as it seeks to ramp up and modernise its operations with the roads and highways ministry too seeking a 10% increase in its allocation.
Since the first quarter of 2019-20, Infosys has been, once again, the growth leader among the big Indian IT services companies. CEO Salil Parekh, who completed three years at the helm this month, looks to have transformed the company that had been roiled by the controversies under his predecessor, Vishal Sikka.
US President Joe Biden on Friday ordered the faster issuance of pandemic stimulus checks to needy families and increased food aid for children who normally rely on school meals, an effort to ease Americans’ burdens while Congress negotiates over his proposed $1.9 trillion economic stimulus package.