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29Nov By Gauri SinghNo Comments

BUSINESS

Microsoft Surpasses Apple & Becomes World’s Most Valuable Company

The technology giant Microsoft has Corp surpassed Apple Inc to become the world's most valuable publicly traded company with a $300 billion rout. After becoming the top company in the world, Microsoft shares rose 0.6 percent Tuesday, pushing the company's market value to $828.1 billion at the close. The last time Microsoft's market capitalization was bigger than Apple was in 2010. Microsoft fell behind Apple as computing shifted from desktop machines to mobile devices like iPhones, making Microsoft's PC dominance less relevant. However, the company has made to the top spot and proved to be the topmost. The rise of cloud computing changed Microsoft's fortunes about five years ago. Under Chief Executive Officer Satya Nadella, the company invested majorly in data centers and other in...

Xiaomi Mi A2 to be Launched In India Exclusively on Amazon

31Jul By AnkitaNo Comments

Tech

Xiaomi Mi A2 to be Launched In India Exclusively on Amazon

Xiaomi, a leading chinese smartphone company is all set to launch its next Android One device in its portfolio, known as Xiaomi Mi A2 exclusively in India. The second generation of Android One handset has been spotted on e-commerce website Amazon. Therefore, it isn't clear whether the handset will be available for purchase on the day of the launch, August 8, or sometime later after its launch in India. SPECIFICATIONS: DISPLAY: 5.99-inch IPS LCD screen of full HD+ resolution of 2160 x 1080 pixels with 18:9 aspect ratio. COLOUR: Gold, Blue and Black WEIGHT: It measures 158.70 x 75.40 x 7.30 (height x width x thickness) and weighs 168.00 grams. PROCESSOR: Octa-core Snapdragon 660 processor (four 2.2GHz Kyro 260 cores + four 1.8GHz ...

Reliance Gears-up To Sell Smartphones and Electronic appliances Online

31Jul By AnkitaNo Comments

News

Reliance Gears-up To Sell Smartphones and Electronic appliances Online

India's largest subsidiary of Mukesh Ambani’s Reliance Industries retail chain, Reliance Retail has make its way to online sales of smartphones and electronic appliances such as refrigerators, air conditioners, and televisions. Reliance Retail is the online extension platform of Reliance Digital, a consumer durables and information technology concept. Reliance Digital with 305 stores as of June and 4,530 smaller Jio stores will act as fulfilment centres for the online orders According to reports, Reliance was gearing up for online sales of mobile phones and consumer electronics for its employees for over a year. The commercial operation has just been launched across India. While this is an omni-channel expansion of Reliance Digital,which will focus on making the online operation s...

31Jul By AnkitaNo Comments

ACQUISITION

SIS Eyeing To Acquire a Majority Stake in a Delhi-Based Company

Security and Intelligence Services (SIS), a security service provider based in New Delhi is eyeing to acquire a majority stake in another security management company for around Rs 300 crore. SIS is a BSE listed company and this acquisition will mark the very first acquisition by the security services provider that has created a war chest of around Rs 1,000 crore for acquisitions in the sector for next few years. “The deal is as good as done,” a banker close to the development stated. “SIS would have a controlling stake in the company that currently has a revenue of around Rs 400 crore,” he added. SIS is in advanced staged to take over the NCR based security and facility management company which hires around 15,000 people. However, the name of the company that is to...

HCL Technologies Excels Wipro, Becomes No. 3 IT Company

28Jul By AnkitaNo Comments

News

HCL Technologies Excels Wipro, Becomes No. 3 IT Company

HCL Technologies Ltd excels Wipro Ltd to become India’s third-biggest software services provider in the three months to 30 June, marking the first change in the pecking order of the country’s $167 billion IT outsourcing industry in six years. The revenue of Noida-based HCL Technologies rose 0.8% to $2.06 billion in the quarter from the compared to the preceding three months, and 8.5% in comparison to the same period in the year 2017. It is the second-best performance of the company among the top Indian IT companies. The net profit of the company has increased from 3.4% to $356 million as compared to the preceding quarter, and 5.7% compared to the same period of 2017. Bengaluru-based Wipro’s dollar revenue declined 1.7% sequentially to $2.03 billion in the first quarter. Wipro’s fu...

Facebook Acquires Israeli Messaging Company REDKIX

27Jul By AnkitaNo Comments

ACQUISITION

Facebook Acquires Israeli Messaging Company REDKIX

Redkix, an Israeli email startup that provides tools to combines email, messaging and calendar features more effectively into one app has been acquired by Facebook. Facebook made the purchase in hopes of building out its own communication features inside Workplace, which is the enterprise version of Facebook. Redkix has raised $20 million and has offices in both Silicon Valley and Israel, it had from investors including Salesforce Ventures, has offices in California and Tel Aviv. The social networking giant declined to say what it paid in the acquisition. Facebook launched Workplace in 2016, which is a subscription-based social platform for businesses, is used internally by Facebook employees, is more like the regular, consumer version of Facebook which means that it has features lik...

Big Blow To Trump, US Tech Giants Join Alliance to Honour Paris Climate Agreement

6Jun By AdityaNo Comments

USA

Big Blow To Trump, US Tech Giants Join Alliance to Honour Paris Climate Agreement

US tech giants, government leaders, investors, universities, and companies have agreed to fight global warming by reducing carbon emissions and honour the Paris Agreement on climate change, days after President Trump announced his decision to withdraw from the landmark deal. Various companies like Apple, Google, Facebook, Intel and Microsoft are among the hundreds of businesses that declared their intention to continue working toward reducing carbon emissions. The firms who were noticeably absent were Oracle, IBM, and all the major telecommunications providers. "In the absence of leadership from Washington, states, cities, colleges and universities and businesses representing a sizeable percentage of the US economy will pursue ambitious climate goals, working together to take forc...

Biggest Venture Backed Companies Worth Nearly $500 Billion: Report

3Jun By reutersNo Comments

ANALYSIS

Biggest Venture Backed Companies Worth Nearly $500 Billion: Report

The total valuation of late-stage, venture-backed private companies in the UnitedStates and Europe has exploded from a few dozen startups worth acollective $40 billion in 2010 to hundreds of firms thattogether are now worth almost $500 billion, according to a report released Thursday. The numbers show the magnitude of the recent trend in which the biggest Silicon Valley startups raise hundreds of millions or even billions of dollars from hedge funds, mutual funds and other private investors while delaying their entrance into public markets. There are now 471 late-stage private companies - defined as firms that have raised at least $75 million through at least three rounds of financing - with an approximate valuation of$490 billion, according to the report from Scenic Advisement, aSan...

Indian Police Bust $550 Million Internet Scam That Duped Thousands

4Feb By NitishNo Comments

News

Indian Police Bust $550 Million Internet Scam That Duped Thousands

Indian police have busted an internet scam in which around 650,000 people lost a combined 37 billion rupees ($549 million) after sending money to a company that promised they would earn cash by clicking on web links, police said on Friday. Police, who described the pyramid-style scheme as one of India's biggest ever, said they had arrested three ringleaders on the outskirts of New Delhi, the capital, and seized more than 5 billion rupees ($74 million) from bank accounts. "They learned that if you give some money back to members, the investments would go up exponentially," Amit Pathak, head of a police cyber crime unit in India's populous northern state of Uttar Pradesh, told Reuters. The men ran a series of websites that promised would-be subscribers a chance to earn five rupees (...

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

25Jan By NitishNo Comments

Story

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

In 2013, SEBI introduced a new concept of investing in Mutual funds. Aptly named as ‘Direct plans’ it offers an alternative to investment in mutual funds where investors can skip the middlemen and invest directly with the fund house. An investor friendly option, Direct plans enable the investor to earn up to 1.5% more returns on their investments, because the distributor commissions are not deducted from the invested values. However, despite its benefits the awareness regarding Direct plans of mutual funds is really low. Few who are aware perceive it to be a time consuming and complicated task. “One of the advantages of Direct Plans is that these come with a lower expense ratio.” The Solution MoneyFront is a key to the act of investing in MFs through direct plans. Being new in the ma...

19Jan By AnkitaNo Comments

CHINA

China May Allow Foreign Company’s and Startups to Launch IPOs

China may allow foreign companies to launch IPOs on its stock exchanges and issue corporate bonds, the government said, after President Xi Jinping promised the world his country was committed to opening its markets. The State Council, China's Cabinet, issued a notice yesterday saying it had granted approval in principle for foreign companies to launch IPOs and issue corporate debt and other financing instruments in order to "support the widening of foreign companies' financing channels". The announcement was the latest in a series of broad liberalisation pledges from China as it braces for the incoming administration of US President-elect Donald Trump. Trump has repeatedly blamed China, and globalisation, for the loss of millions of US jobs, raising fears of a trade war between the w...

Regtech’ Startups See More Business in Trump Era

24Dec By reutersNo Comments

USA

Regtech’ Startups See More Business in Trump Era

President elect Donald Trump is pro-business and anti-red tape. But what if your business is red tape? Companies whose technology helps banks and investors cope with the welter of post financial crisis regulations and avoid increasingly hefty fines - a sector known as "regtech" - are sanguine about Trump's pledge to dismantle some of those reforms. Their equanimity is based on a belief that if regulations are replaced rather than scrapped and the overall system of rules becomes more fragmented, financial firms will need their systems to navigate the new landscape. "Change is itself a driver of regtech adoption," said David Buxton, the chief executive of compliance startup Arachnys. "Volatility creates opportunity for relatively nimble regtech firms." Founded in London in 2010, Ara...