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PTI
May 9, 2018



BusinessToday.In
New Delhi, May 9, 2018
According to the IMF report, India's growth rebounded strongly to 7.2 per cent in the third quarter of the last fiscal, up from 6.1 per cent in the first half of 2017-18.


PTI
May 7, 2018



PTI
May 3, 2018



BusinessToday.In
New Delhi, May 3, 2018
Cambridge Analytica and British parent shut down after Facebook scandalCambridge Analytica, the firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent SCL Elections Ltd, are shutting down immediately after suffering a sharp drop in business, the company said on Wednesday. The company will begin bankruptcy proceedings, it said, after losing clients and facing mounting legal fees resulting from the scandal over reports the company harvested personal data about millions of Facebook users beginning in 2014.Chinese tech company Xiaomi files for world's biggest IPO since 2014Smartphone and connected device maker Xiaomi filed for a Hong Kong initial public offering on Thursday, in what is expected to be the largest listing by a Chinese tech company in almost four years. The listing could value the company at up to $100 billion and would be the biggest Chinese tech IPO since Alibaba Group Holding Ltd raised $21.8 billion in 2014.Amazon's offer to Flipkart: A 60% stake, full merger with its Indian arm and a non-compete clauseDespite media reports claiming that the Flipkart-Walmart deal is in its last leg, arch rival-turned-suitor Amazon is showing no signs of exiting the stage. In fact, sources told CNBC TV18 that the global e-commerce giant has now made a formal offer to Flipkart to buy a 60 per cent stake.The report added that the deal offered by the Jeff Bezos-run company proposed to merge Flipkart entirely with its Indian arm and sought a non-compete agreement with Flipkart's founders for 1-2 years.Rural purchases to boost gold demand through December: WGCGold demand in India may improve through to December as positive monsoon rains and government efforts to raise farmer incomes could boost rural purchases enough to offset higher prices because of the weak rupee, the World Gold Council (WGC) said. India is the world's second-biggest gold consumer and higher demand could support global prices that have risen over 5 percent since mid-December, although a rise in imports of the metal would widen trade deficit.H-1B visa fraud: Indian IT employees promised $8,300 but paid $800 per monthInvestigations carried out by the US Department of Labour's Wage and Hour Division found that some of the H-1B employees working at information technology provider Cloudwick Technologies Inc were paid salaries significantly below the levels required under the H-1B programme. The California-based company owned by an Indian-American was asked to pay $173,044 in wages to 12 of its foreign employees, most of who were from India.


BusinessToday.In
New Delhi, May 2, 2018
The company also made illegal deductions from workers' salaries.


PTI
May 2, 2018



BusinessToday.In
May 1, 2018
In fact, the deal could be announced as early as this week. The year so far has reportedly registered four deals in the billion-dollar category. As per the deal being hashed out, Schneider will own a 74 per cent stake in L&T's electrical unit while Temasek Holdings Pte will own the balance.


PTI
May 1, 2018



Sonal Khetarpal
New Delhi, April 30, 2018
Things India's digital privacy framework should consider.


PTI
April 28, 2018



Prosenjit Datta
New Delhi, April 27, 2018
How badly India needs to fix its employment (and unemployment) and jobs data problem can be seen from the furious debates that break out each time a new study on job creation comes out, writes Business Today Editor Prosenjit Datta.


BusinessToday.In
April 27, 2018
The Sensex and Nifty closed higher on Friday buoyed by optimism over Q4 earnings and buying in banking stocks.  While the Sensex closed 256 points higher at 34,969, Nifty rose 74 points to close at 10,692 level. The Sensex breached the 35,000 level intra day but erased gains due to profit booking. Axis Bank, SBI and ICICI Bank were the top gainers on Sensex. The Axis Bank closed higher on positive management commentary during its Q4 earnings that recognition of bad loans in this cycle was nearly complete. The lender reported its first ever quarterly loss of Rs 2,189 crore in the January-March quarter of the last fiscal and made heavy provisions against bad loans.Banking stocks led the gains on benchmark indices with BSE bankex rising 559 points to 28,529 level. Other major gainers among the BSE sectoral indexes were capital goods and oil and gas indexes. Information technology stocks which logged gains of late due to weak rupee succumbed to profit booking with the BSE IT index falling 1.06%- the maximum among the sectoral indexes. The rupee closed at 66.66 level against the dollar compared to the currency's  Thursday closing level of 66.75 level.  The Reliance Industries stock closed 1.99% higher ahead of the conglomerate's Q4 earnings set to be announced after market hours today. The Maruti Suzuki stock closed 1.90% lower at Rs 8,777.95 after the firm reported posted a 10 percent rise in quarterly net profit but missed analysts' expectations due to higher tax expenses.Market breadth was positive with 1401 stocks rising against 1234  closing lower on BSE.


BusinessToday.In
April 27, 2018
Banking stocks led the gains on benchmark indices with BSE bankex rising 559 points to 28529 level. Other major gainers among the BSE sectoral indexes were capital goods (1.40%) and oil and gas index (1.05%).


BusinessToday.In
New Delhi, April 27, 2018
To begin with, according to industry insiders, rising crude is putting pressure on rupee already stressed by widening fiscal deficit.


PTI
April 25, 2018



BusinessToday.In
April 25, 2018
The Sensex and Nifty closed lower in trade today, amid weak global cues and unabated foreign fund outflows.While the Sensex fell over 115 points to 34,501, the Nifty ended 43 points lower at 10,570 level.  The Sensex had gained 201.06 points in the previous two sessions.Asian markets fell and European shares opened lower, tracking overnight losses on Wall Street after the 10-year Treasury yield briefly touched the psychologically important 3 per cent level for the first time in four years.Thursday's April month expiry in the derivatives segment added to the volatility in the domestic market, brokers said.Bharti Airtel was the top gainer on Sensex and Nifty after the telco beat analysts' expectations of a net loss and managed to clock Rs 73 crore in net profit for Q4.TCS, M&M and Infosys were the other Sensex gainers.Banking stocks fell the most with the BSE bankex down 301 points to 27,732 level. The BSE Information Technology index rose the most-1.24% or 163 points to 13,360 level.The BSE IT index rose after rupee fell to a 14-month low of 66.82 against the dollar on bouts of month-end dollar demand from importers amid crude price volatility and rising US bond yields.Market breadth was negative with 1750 stocks closing lower against 898 ending higher on the BSE.


BusinessToday.In
April 25, 2018
The Sensex had gained 201.06 points in the previous two sessions. Asian markets fell and European shares opened lower, tracking overnight losses on Wall Street, led by sell-off in industrials, materials and technology stocks after the 10-year Treasury yield briefly touched the psychologically important 3 per cent level for the first time in four years.


E Kumar Sharma
New Delhi, April 25, 2018
Back in late 90s, when Madhapur was little more than a rocky suburb of Hyderabad, Naidu, as the chief minister of the then united Andhra Pradesh, transformed it into an IT hub.


PTI
April 24, 2018



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