HCL Technologies will produce $35 Tablets for India
Posted on 03. Sep, 2010 by Murthy in Business
The contract of producing 100,000 of the $35 tablets has been awarded to HCL Technologies.
The news has just come that the HCL Technologies has won Government of India’s contract to roll out a lak of the $35 tablet computersbefore January 10, 2011, i.e., in four months’ time from now.
Indian Government has allocated about Rs. 30 [...]
Standard Life Insurance and Pension Company on downsizing drive
Posted on 02. Sep, 2010 by Allen Smith in Business
As part of a cost management drive the Insurance and Pension Company, Standard Life is going with the idea of cutting over 500 jobs, in actuality phasing out 600 of the existent jobs but creating over 100 new posts by the end of 2011.
David Nish who has taken over as the Finance Director of the [...]
Google expands its empire, acquires Angstro
Posted on 30. Aug, 2010 by admin in Business
Search engine major Google Inc, buys Angstro, a site that aggregates information from social networking sites.
The products at Angstro will surely help Google to compete against the most popular social networking site, Facebook.
The co-founder of Angstro, Rohit Khare has already put a note on the website saying he had joined the Google. Angstro has [...]
SIFY to issue equity shares worth USD 86 million as preferential allotment to promoters
Posted on 29. Aug, 2010 by Latha B. Reddy in Business
SIFY Technologies Limited., the Indian leader in Enterprise and consumer Internet Services mulls on the idea of issuing equity shares as preferential issue to the promoters worth approximately $86 million.
The shares issuance that was proposed was around 125 million equity shares of Rs. 10 each whose purchase price will be Rs. 32 (includes premium of [...]
PepsiCo CEO stays off the race to succeed Ratan Tata as Chairman of Tata Group
Posted on 29. Aug, 2010 by Latha B. Reddy in Business
CEO and Chairman of PepsiCo Indra Nooyi has been talked about as promising successor to Ratan Tata.
However, Ms. Nooyi puts an end to all speculations by ruling herself out from the race to succeed Ratan Tata, Chairman of the Tata Group. She says she loves what she’s been doing currently.
When questioned about her linking to [...]
Bank of America Online Banking Service experiences snag and online services slow down across US
Posted on 28. Aug, 2010 by Allen Smith in Business
Online banking services on all branches of Bank of America experienced a snag for sometime during the day on August 27, 2010.
The service was restored say the Bank. Tara Burke, the representative for the Bank; however, said that the snag was due to temporary issue and that it’s been fixed. She did not inform the [...]
Paul Allen sues major technology giants
Posted on 28. Aug, 2010 by Allen Smith in Business
Microsoft co-founder Paul Allen mulls on suing big technology companies which apparently includes giants such as Google, Yahoo, Facebook, eBay, Netflix, Staples, Youtube, Office Max, Apple and Office Depot
Billionaire Paul alleges that these technology majors infringed on the four Web technology patents that are held by Microsoft’s Interval Licensing LLC.
The Interval Licensing LLC filed [...]
Drought coupled with wildfires and ban on grain exports push food prices to record high in Russia
Posted on 25. Aug, 2010 by Allen Smith in Business
The worst drought, and the recent wildfires have led to rise in the prices of basic commodities in Russia.
While the losses due to drought was estimated at $1 billion, its 3rd week in row prices have been soaring high, the inflation shows a 0.2% which is way too much than what it was prior to [...]
New home sales in US touch the lowest ebb since 1963
Posted on 25. Aug, 2010 by Murthy in Business
The July 2010 sales of new homes in US touched the ebb and set a slowest pace record. The sales of new one-family houses dropped 12.4 per cent equating to 276,000 units a year rate. This is the lowest level since the series started in 1963 according to the date provided by Commerce Department. The [...]
HSBC eyes on USD 6.8B stake in South Africa Nedbank
Posted on 23. Aug, 2010 by admin in Business
UK-based HSBC Holdings PLC confirmed that it is holding talks with financial group Old Mutual PLC to buy and own major stakes in South African Nedbank Group Ltd; the deal is worth $6.8 billion.
The Old Mutual said that the discussions are on for sale of about 70 per cent stake in the Nedbank. Nedbank is [...]
