Daily News Podcast: Infosys to renew focus on digital services : Bulletin: Business Today
Business Today

Daily News Podcast: Infosys to renew focus on digital services

Loading the player...

April 24, 2018

Infosys to renew focus on digital services
Infosys Ltd, India's second-biggest IT firm, plans to renew its focus on digital services as it looks to boost growth amid shrinking profit margins in its legacy business and rising competition from local and international rivals. Digital services - such as cloud, big data and analytics which accounted for more than a quarter of Infosys' revenue in year to March 2018 - are a massive opportunity, Chief Executive Salil Parekh said on Monday at the company's first analyst meeting in nearly two years.Infosys, earlier this month, reported a rise in profit and forecast healthy revenue growth for the year, but its outlook on profit margins failed to cheer investors, as reported by Reuters.
Google parent Alphabet records surge in profit, but costs also go up
Strong growth in ad sales on Google search and YouTube were not enough to offset a surge in costs at parent Alphabet Inc that shrank the first-quarter operating margin, leaving shares flat after hours on Monday. Alphabet got a boost from how it values investments in Uber Technologies Inc and other startups. That accounting change and a one-time benefit cut its effective tax rate nearly in half. Investors are uncertain about future profit at Alphabet as the company navigates the move to a phone-based computing world.
Raghuram Rajan candidate for Bank of England governor role: report
Former RBI Governor Raghuram Rajan is one of the contenders for the next chief of the Bank of England as the term of its current governor Mark Carney nears its end. UK Chancellor and Exchequer Philip Hammond has indicated that he would be willing to look abroad for Carney's successor. Mark Carney whose term ends in June 2019 was the first foreigner in three centuries to run the UK central banks.
Ford ends Hyundai's reign as India's top car exporter
US car major Ford has ended Korean carmaker Hyundai Motor's more than a decade-long dominance as the largest exporter of cars in India. In 2017-18, a year when overall passenger vehicle exports from the country have declined for the first time in a decade, Ford managed to ship 14.31 per cent more cars at 181,148 units surpassing Hyundai's tally of 153,942 units, a drop of nearly 8 per cent over 2016-17. Hyundai had been the largest exporter of cars since 2004-05.

Suitors refrain from making higher bids for hospital chain Fortis
Fortis Healthcare Ltd has received as many as five offers for control of its private hospital business, but suitors have so far held back from making bold bids for the group as it faces rising debt and a regulatory probe. Fortis, one of the country's largest hospital chain operators, is evaluating offers from domestic and international firms as reported by Reuters. Analysts, bankers and consultancy firms say Fortis, with around 30 hospitals, mostly in large cities in a country that lacks good public healthcare facilities, an established brand and good roster of doctors, is a rare and attractive asset in a market that is growing strongly.
More from this section