TOKYO – Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17% for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business. CEO Kazuo Hirai told a press briefing on Wednesday that Sony would assess a proposal from its biggest shareholder, billionaire [...]
NEW YORK – The board of Yahoo! has agreed to a deal to purchase the popular blogging platform Tumblr for $1.1 billion, a newspaper said.
Yahoo! did not immediately return calls for confirmation to the Wall Street Journal report, but CEO Marissa Mayer has scheduled a news conference in New York today at which the company [...]
SAN FRANCISCO – Xoom Corporation (NASDAQ: XOOM), a digital money transfer provider, claims their new quick deposit service to India to provide customers the ultimate money transfer experience that is fast, safe and convenient. Customers can now have money deposited to any bank account in India within a breakthrough speed of four hours.
“The launch of [...]
MUMBAI: Chinese Premier Li Keqiang on Tuesday visited TCS facility here and sought to assure Indian business houses that they will not “face any roadblocks” while investing in his country.
Li was apprised of the $100 billion group’s operations in China by top officials that included Tata Group chairman Cyrus P Mistry.
The Chinese entourage included a [...]
MUMBAI - The current size of the Indian food industry stands at 247,680 crore per annum and is expected to grow at 11 percent to touch a staggering 408,040 crore by 2018, an official said.
In terms of market segments, the Quick Service Restaurants and casual dine-in formats account for nearly three-fourths of the total chain [...]
DUBAI – Two companies with major operations in India were the weak links that opened the door to a $45 million global cyber heist brought to light by US authorities this week.
EnStage Inc, which operates from Bangalore, and ElectraCard Services, which is based in Pune, processed card payments for the two Middle Eastern banks that [...]
WASHINGTON – Shares of drug maker Ranbaxy Laboratories ended 3.6% up at Rs. 455.50 on Tuesday after crashing 4% in early trade on the Bombay Stock Exchange following a $500-million (about Rs. 2,750 crore) fine imposed by US authorities on the company for selling adulterated medicines in the US and lying about it to the [...]
NEW DELHI – The slowdown is taking a toll on people’s spending habits. Young Indians are becoming more cautious about how they use their money.
Lalit Pandey (30), working in an Indian auto company in Pune, recently applied for a home loan of Rs. 40 lakh to buy an apartment in that city. This is [...]
NEW DELHI – India will get loan of about $6 billion from the Asian Development Bank (ADB) over the next three years for various projects including those in energy and education sectors. “Our idea is ADB will maintain its lending level to India, approximately $2 billion over next three years.”
“We are now working on the [...]
LONDON – Hard-pressed company in India and across the world are under so much pressure to deliver on growth that they resort to cooking the books and offering cash, Ernst & Young says in its latest Fraud Survey published on Tuesday. One in five of almost 3,500 staff quizzed in 36 countries in
Europe, the Middle [...]