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29May By PriyankaNo Comments

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Flipkart Row Will Affect Startups Hiring Market

Darling of jobseekers till recently, the startup space may lose some sheen in the job market as management and tech graduates might prefer joining safer companies after the Flipkart fiasco, say experts. The e-commerce major has deferred joining dates for campus hires from IIM Ahmedabad and IITs citing restructuring of its businesses, for which it has got a lot of flak from the colleges as well as the industry. Reports suggest Flipkart is not the only company from e-commerce and related sectors to have deferred the joining dates for their campus hires and there are many others including InMobi, CarDekho and Hopscotch. According to industry and HR experts, it might also bring a lot of pressure on reputation, success and unpredictability of the educational institutions concerned as it di...

29May By AnkitaNo Comments

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A New Technology to Mask Call Drops

Trying to deflect heat over poor service quality, mobile operators are taking refuge in a new technology to "mask" call drops that show a call as remaining connected even when the network connection is lost and the caller is unable to hear voice from the other side. Earlier, the call used to get automatically disconnected in case of the user moving to a poor network area, making it a dropped call under the current regulatory framework. The new technology ensures the call remains artificially connected until the caller or receiver decides to terminate it and the user is billed for the entire duration despite not being able to talk for full or part of the call duration. "Telecom operators are using Radio-Link Technology (RLT) which is helping them mask call drops while the consumer is...

Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

29May By AdityaNo Comments

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Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

Delhi-NCR emerged as the top job creator among eight major cities in January-March, generating over 2.6 lakh new employment opportunities in the period, says a report. A total of 8.5 lakh jobs were created in eight major cities across the country, the report said. "Delhi-NCR emerged on top with over 2.6 lakh new jobs created during January to March 2016 followed by Bangalore (1.9 lakh), Mumbai (1.5 lakh), Chennai (82,200) and Hyderabad (60,000). About 88.9 per cent of job openings have been recorded in these top five cities," the report by Assocham said. In Delhi-NCR, about 61.1 per cent of job openings were recorded from the information technology enabled services (ITeS) followed by services (18.5 per cent), manufacturing (8.4 per cent), banking financial services & insurance (...

Zuckerberg to Use Facebook Live to Chat With ISS Astronauts

28May By PriyankaNo Comments

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Zuckerberg to Use Facebook Live to Chat With ISS Astronauts

Facebook founder Mark Zuckerberg will chat live with three astronauts currently living on the International Space Station and ask them questions posted by viewers on NASAs facebook page. In a 20-minute Facebook Live video call with two NASA astronauts - Tim Kopra and Jeff Williams - and a European Space Agency astronaut Tim Peake, Zuckerberg will ask questions and use the service to enable viewers to livestream themselves. Zuckerberg will speak with astronauts living and working aboard the International Space Station (ISS) at 12:55 PM (local time) on Wednesday, June 1, NASA said in a statement. The interesting questions from the facebook viewers include - What is the outcome of Newtons bucket experiment on ISS?, Who provides the food eaten on the space station? The ISS serv...

Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

28May By AdityaNo Comments

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Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

Country's largest taxi aggregator Ola, which recently launched a riding offer at as low as Rs 6/km, today introduced luxury service Ola Lux in the city, under which a rider can choose from a slew of luxe cars. The company said under the new scheme, a passenger can book a Jaguar, Merc, Audi, BMW, Fortuner, Honda Accord for a minimum fare of Rs 200 and charged at Rs 19/km. A ride time charge of Rs 2/min is also applicable, it said. The new chic category is available across south Mumbai to begin with, and would be introduced to other parts of the city soon, Ola Chief Marketing Officer Raghuvesh Sarup said. "With a growing number of young executives, entrepreneurs and professionals, the need for on-demand luxury sedans is growing tremendously in cities," Sarup said, citing t...

Abidali Neemuchwala Wipro Draws $1.8 Mn Pay Package in FY16

28May By AnkitaNo Comments

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Abidali Neemuchwala Wipro Draws $1.8 Mn Pay Package in FY16

In his first year at Wipro, former TCS veteran got an annual pay package of USD 1.8 million (about Rs 12.04 crore). This is higher than what his predecessor and former CEO T K Kurien earned at Bengaluru-based IT major. However, his peers at rivals Infosys and Tata Consultancy Services (TCS) have fatter pay packages. According to a regulatory filing, Neemuchwala received USD 859,079 in salary and allowances, USD 351,213 in commission/variable pay, USD 575,122 as other payouts and USD 21,216 as long-term compensation during the financial year ended March 31. Infosys Vishal Sikkas package for the year stood at Rs 48.73 crore package, while that of TCS chief N Chandrasekaran was Rs 25.6 crore (USD 3.8 million) in addition to a special bonus of USD 1.49 million. Sikka, who is credited wi...

Indian Companies To Pay $4,000 More For H-1B Visa Fee

27May By Press Trust of IndiaNo Comments

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Indian Companies To Pay $4,000 More For H-1B Visa Fee

Flagship Indian IT companies would have to pay at least an additional USD 4,000 for every H-1B visa application under the new regulations that came into effect last December, according to details published on Friday by a federal US agency. And those applying for L-1 visa petitions would have to pay USD 4,500 more than other US companies under the new law, which would be in effect till September 30, 2025. The H-1B visa is designed to allow US employers to recruit and employ foreign professionals in speciality occupations within the US while L-1 visas are available to employees of an international company with offices in both the US and abroad. Indian IT firms - which have to incur an additional burden of about USD 400 million annually - have called it "discriminatory", with Prime M...

Morgan Stanley Again Marked Down Valuation of Flipkart

27May By NitishNo Comments

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Morgan Stanley Again Marked Down Valuation of Flipkart

A mutual fund group governed by Morgan Stanley has further reduced the valuation of India's biggest e-commerce portal, Flipkart. Flipkart shares markdown by 15.5%. This is the second consecutive markdown by Morgan Stanley, after it had marked it down by 27% in the previous quarter. Morgan Stanley has marked the value of their Flipkart shares at $87.9 per share as of March 2016, down from $103.97 per share as of December 2015 and down 38.2% from $142.24 per share as of June 2015. The markdown pegs Flipkart's valuation at $9.39 billion, as compared to the $15.2 billion when it last raised capital in July 2015. Morgan Stanley had picked up shares in Flipkart as a part of its series D round of funding in 2013, when the Bengaluru-based e-tailer had raised $360 million in two tranches. It ...

Microsoft, Facebook to Jointly Lay Giant Cable Across Atlantic

27May By Press Trust of IndiaNo Comments

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Microsoft, Facebook to Jointly Lay Giant Cable Across Atlantic

Microsoft and Facebook have joined hands to lay a giant state-of-the-art subsea cable across the Atlantic Ocean connecting the US with Europe and beyond so as to facilitate faster speed and access to the Internet. The new "MAREA" cable will help meet the growing customer demand for high-speed, reliable connections for cloud and online services for Microsoft, Facebook, and their customers, a media release said. Construction of the cable will commence in August 2016 with completion expected in October 2017, it said. Microsoft and Facebook are collaborating on this system to accelerate the development of the next-generation of Internet infrastructure and support the explosion of data consumption and rapid growth of their respective cloud and online services, the release said. MARE...

Flipkart Offers Rs 1.5 lakh Compensation To IIM-A Students on Differ Joining Date

26May By AnkitaNo Comments

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Flipkart Offers Rs 1.5 lakh Compensation To IIM-A Students on Differ Joining Date

IIM-Ahmedabad and Flipkart were locked in a face-off on Thursday with the e-commerce major refusing to honour its job commitment to students of the prestigious institute until December, as against June promised earlier, but offered a compensation for the intervening period. While the Bengaluru-based company cited restructuring of its businesses as the reason behind deferring the joining dates for campus recruits, IIM-A said its students have already been getting job offers from other companies and they are looking at these opportunities. IIM-A placement committee chairperson Asha Kaul said the company is firm on its earlier stand that students can only join in December rather than June and for that new hires will be paid a compensation of Rs 1.5 lakh each. Efforts by the i...

Nikesh Arora Received $73M Pay Cheque From Softbank in 2016

26May By AdityaNo Comments

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Nikesh Arora Received $73M Pay Cheque From Softbank in 2016

Nikesh Arora, a Ex-Googler and the president and COO of SoftBank Group, received heafty pay check of $73 million (8.04 billion yen) in 2016. Arora's compensation includes $14.2 million (1.56 billion) paid by other SoftBank units. After Google, Arora had joined SoftBank as its vice-chairman and CEO of SB Group US (previously SoftBank Internet and Media Inc) in September 2014. In 2014-15, Arora had received a $135 million pay package including signing bonus during joining the company in September and end of March 2015. Nikesh Arora count among top paid executives in the world. During his tenure, Arora has led SoftBank's investments into Snapdeal, Ola, Housing, Oyo Rooms and Grofers. He also faces several criticism from a group of SoftBank Group investors, which alleged conflict of ...

Exclusive: Apple Explores Charging Stations For Electric Vehicles

26May By reutersNo Comments

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Exclusive: Apple Explores Charging Stations For Electric Vehicles

Apple is investigating how to charge electric cars, talking to charging station companies and hiring engineers with expertise in the area, according to the sources. The moves show Apple responding to a key shortcoming of electric vehicles: "filling up" the batteries. A shortage of public charging stations, and the hours wasted in charging a car, could be an opportunity for Apple, whose simple designs have transformed consumer electronics. Apple, which has never publicly acknowledged a car project, declined to comment for this story. Last year Apple was studying a self-driving electric vehicle (EV), as the Silicon Valley icon looks for new sources of revenue amid a maturing market for its iPhone. It is unclear whether Apple would want its own proprietary technology, such as Tesla M...