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IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

30Oct By Gauri SinghNo Comments

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IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

After the $33 billion acquisition of Red Hat, IBM will take over 1,000 people on board of the acquired company in the world’s second-largest technology deal so far. Along with this, IBM will get clients with high volume transactions that will include Bombay Stock Exchange and National Stock Exchange once the cash deal to acquire Red Hat Inc is completed. “The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” IBM chairman Ginni Rometty said. “IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses,” she said. Red Hat is known for its open culture that has been built by its CEO Jim Whitehurst and imbibed at its offices in India. BSE and N...

VC Fund Sixth Sense Ventures Invests in an Edutech Platform

29Oct By Gauri SinghNo Comments

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VC Fund Sixth Sense Ventures Invests in an Edutech Platform

Early stage consumer-focused venture capital fund Sixth Sense Ventures has reportedly invested an amount that has not been revealed in edutech firm Eupheus Learning. With this, the total investment by the fund in Eupheus is estimated at between Rs 15-18 crore. Sixth Sense now owns about 44% in the edu-tech firm, making it one of the largest stake ownership deals for the venture capital firm so far. Eupheus Learning is a curriculum based content platform. It was founded in May 2017 and was the first investment from Sixth Sense's second fund made earlier this year. The platform aims to bridge the gap between in-school and at-home learning by providing end-to-end education solutions to students. The company has collaborated with publishers and edu-tech firms to provide differentiated...

Tesla to Roll Out a New Driver Assistance Feature

29Oct By Gauri SinghNo Comments

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Tesla to Roll Out a New Driver Assistance Feature

The electric vehicle major Tesla is reportedly going to roll out a new driver assistance feature called the Tesla Autopilot Drive on Navigation that had been delayed for testing. This has been described by the company as its most advanced driver assistance feature to date. The feature was held back earlier this month when the automaker released the latest version of its in-car software, 9.0. According to the company, the feature would begin to roll out this week to U.S. customers who have purchased enhanced Autopilot or full self-driving capability. Tesla has offered enhanced Autopilot and FSD capability as upgrades that cost, $5,000 and $3,000, respectively. Autopilot is an advanced driver assistance system. Autopilot on Navigate is considered a step towards that still on-met full s...

Wipro Hikes Annual Fresher salary by Rs 30,000

26Oct By Gauri SinghNo Comments

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Wipro Hikes Annual Fresher salary by Rs 30,000

Wipro has increased fresher salaries to Rs 3.5 lakh per annum, from about 3.2 lakh. Salaries of campus recruits had remained stagnant for many years across the industry. “We are also introducing a coding test to improve the quality of hires. We are looking to roll out a broad-based national talent test to expand the reach of our hiring process. We are hiring 25-30% more than last year,” said Wipro president and chief human resources officer Saurabh Govil. Others like TCS and Infosys have also adopted such strategies. TCS has launched a national level test. And these companies are offering significantly higher salaries to freshers with better coding skills. Wipro has a three-tier campus outreach. The first involves hires from star colleges like the IITs, and they are offered an average...

CCD and Uber Eats Partner to Launch Virtual Restaurant Chain in India

26Oct By Gauri SinghNo Comments

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CCD and Uber Eats Partner to Launch Virtual Restaurant Chain in India

Food delivery major Uber Eats has entered into an association with cafe chain Café Coffee Day (CCD) to launch a network of virtual restaurants across multiple brands. These will be available for delivery exclusively on Uber Eats. In this partnership, Uber Eats will share data, analytics and insights with CCD to help the latter identify food that is most desired and thus design cuisine-specific menus under various brands that will be separate from its existing menu and available for delivery only. This partnership will allow Café Coffee Day and Uber Eats to launch menu offerings as per evolving consumer trends, for multiple ‘delivery-only’ virtual restaurants. Bhavik Rathod, Head of UberEats in India and South Asia on the partnership said, “The virtual restaurant model will use the exis...

Snap Brings on Board Amazon & HuffPost Senior Executives

26Oct By Gauri SinghNo Comments

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Snap Brings on Board Amazon & HuffPost Senior Executives

The parent company of the photo messaging app Snapchat called Snap Inc has announced the appointment of Amazon's head of advertising Jeremi Gorman as its chief business officer. Along with him, HuffPost media company Chief Executive Jared Grusd will also join as the chief strategy officer. The moves were disclosed in an internal memo shared by Snap. It was last month that Snap said its Chief Strategy Officer Imran Khan would step down, with his last day still undetermined. Khan was the latest top-level resignation from the company surrounded by pressure to stem a drop in users following a controversial redesign of the Snapchat app. Snap has set an aim of becoming profitable next year by growing users and ad sales. Snap did not previously have a chief business officer overseeing it...

Ola & Uber Fares Rose up by 15% in Last One Year

25Oct By Gauri SinghNo Comments

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Ola & Uber Fares Rose up by 15% in Last One Year

With the increasing demand of Ola and Uber these days, an average ride cost on Ola and Uber is up by 15% over the last one year. This has been presented as per estimates by research & advisory firm RedSeer. The company said this comes on top of a 10% increase in 2017. However, the figures that have been stated are a national average, and the actual changes may be different for different cities. The report did not provide the city-wise figures as Bengaluru users have reported significantly higher increases. According to the reports, the average cost per ride on these cab-hailing apps has risen to Rs 220, compared to around Rs 190 last year. Also, the incentives for drivers, which was used for several years to attract drivers to meet rising demand, saw a drop of over 30% in the las...

Satish Kumar Gupta Apponited as the new Paytm Payments Bank CEO

25Oct By Gauri SinghNo Comments

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Satish Kumar Gupta Apponited as the new Paytm Payments Bank CEO

Paytm Payments Bank has appointed veteran banker Satish Kumar Gupta as managing director and CEO. Gupta comes in after Renu Satti stepped down as CEO in July and moved on to head the company’s new retail business. Gupta was former deputy general manager at State Bank of India where he worked for over three decades. “I have been fortunate to experience the disruption and growth that the Indian economy has witnessed in promoting digital payments. I look forward to leveraging my understanding of banking and payments at Paytm Payments Bank and aligning myself to its vision of bringing financial inclusion through digital payments,” Satish Kumar stated. Paytm has been strengthening the compliance structure of its payments bank unit. Last month, it moved Rama Subramaniam Gandhi, an advisor t...

Uber Aims to Go Fully-Electric in London in 2025

24Oct By Gauri SinghNo Comments

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Uber Aims to Go Fully-Electric in London in 2025

The cab aggregator Uber has planned for every car on its taxi app in London to be fully electric in 2025, It would also add a clean air fee to each trip from early next year. The rapidly-expanding firm is simultaneously trying to appease regulators in key markets such as London, with initiatives such as on environmentally-friendly vehicles, as well as expanding into new areas ahead of a flotation. "It's going to be part of the family and how the capitalization looks like is something that we are ultimately open to but it is not an area of focus right now." Chief Executive Dara Khosrowshahi, who pulled out of a Saudi conference after the murder of journalist Jamal Khashoggi, also said the firm would wait for answers about the incident before deciding how that might affect Saudi investm...

Richard Branson is no more the Chairman of Virgin Hyperloop One

23Oct By Gauri SinghNo Comments

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Richard Branson is no more the Chairman of Virgin Hyperloop One

The billionaire entrepreneur Richard Branson has reportedly stepped down from the chairman role of Virgin Hyperloop One. In a statement, Branson mentioned that the company would require more time than he could devote to the company. “At this stage in the company’s evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities. It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many business within the Virgin Group,” said Richard Branson. A thing that wasn’t mentioned was the cancellation of a planned project with Saudi Arabia after Branson criticized the kingdom and suspended negotiations around an intended $1 billion investment from the nation’s Public Investment Fund i...

Paytm Employees Arrested for Blackmailing Vijay Shekhar Sharma for Rs 20 Crore

22Oct By Gauri SinghNo Comments

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Paytm Employees Arrested for Blackmailing Vijay Shekhar Sharma for Rs 20 Crore

Paytm has been in news for a long time for various purposes. This time, it is something different and shocking. Three Paytm employees along with managing director Vijay Shekhar’s personal secretary have been arrested by the Noida Police on Monday. The step has been taken because the employees allegedly tried to extort Rs 20 crore from their boss. The employees stole the confidential data and blackmailed the founder asking them to pay Rs 20 crore. He was being threatened to leak the confidential information of his company. #PAYTM कंपनी के मालिक का डाटा चोरी कर रंगदारी मांगने वाले महिला समेत 03 शातिर अभियुक्त गिरफ्तार- थाना सेक्टर 20 नोएडा। #NoidaPolice @Uppolice pic.twitter.com/gJPmuoU3O5 — NOIDA POLICE (@noidapolice) October 22, 2018 The police disclosed th...

Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

22Oct By Gauri SinghNo Comments

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Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

Paytm has launched a QR-based smartphone payment settlement service in Japan called PayPay in collaboration with SoftBank and Yahoo Japan Corporation. Paytm had formed a joint venture called ‘PayPay’ corporation with SoftBank and Yahoo Japan, and its first offering is a smartphone-based settlement service that allows users to store money from a bank account in their “PayPay” wallet and make payments with it. Paytm said it is built around its QRtech which it has deployed in India to allow customers to make offline payments. “...PayPay was developed with teams from three different countries working together, it is a true testimony for us and our industry-leading solutions that can be easily ported to suit the needs of any country or market,” Madhur Deora, CFO, Paytm said. Paytm is a...