NEW DELHI: Elon Musk-led Tesla Inc. initiated the process for the certification and homologation of two of its electric cars in India, which is an essential requirement for all vehicles before they can be sold in the country.Tesla India Motor & Energy Pvt. Ltd., the local unit of Musk’s firm, submitted two new applications for…
BENGALURU: Infosys McCamish Systems (IMS), a subsidiary of Infosys BPM, has agreed to put $17.5 million into a fund to settle pending class-action lawsuits and resolve allegations following a cybersecurity incident in 2023. Infosys said that it reached an agreement with the plaintiffs of these lawsuits pending against IMS and a few of its customers….
Hon Hai Precision Industry Co. posted a surprise earnings fall after weak Chinese iPhone sales eroded margins, though the Nvidia Corp. supplier forecast a doubling in AI-related revenue this quarter.The Taiwanese company’s net income plunged 13% to NT$46.3 billion ($1.4 billion), far short of analysts’ estimates for a 2.3% gain. Hon Hai, one of Nvidia’s…
BENGALURU: Global capability centres are increasingly recruiting talent from IT services companies, with approximately half their workforce now sourced directly from these firms. Data from HR consultancy Xpheno indicates that GCCs have modified their recruitment approach, incorporating both experienced professionals and fresh graduates.Recent statistics reveal GCCs now source 45-48% of their workforce from IT firms,…
BENGALURU: Wipro has realigned its global business lines (GBLs) to expand its go-to-market capabilities to meet clients’ business needs in emerging technologies driven by AI, cloud, and digital transformation. Wipro organised its capabilities across four GBLs-delivery, capabilities, solutions, and horizontal specialists are owned by GBLs. The four GBLs are technology services, business process services, engineering,…
NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore.The private sector lender, on March 10, disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35% of the bank’s net worth…
Union minister Piyush Goyal NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday suggested to industry that it was imperative to shed some protectionism as the world was looking at reciprocity, while assuring exporters that govt was working overtime to protect their interests.“Reflecting on reciprocal tariffs, he has cautioned the EPCs (export promotion councils)…
Fears are ripe of a US economic recession. What will high US tariffs and America’s economic slowdown mean for India? It’s mayhem in US stock markets! The S&P 500 has plunged more than 10% since its highest level which was seen last month. The turbulence is being caused by US President Donald Trump’s trade war…
BENGALURU: Indian IT firms generated around $20 billion in free cash flows last year, and more than 75% was returned to shareholders. Industry experts believe Indian IT firms are in for a big reset, especially with AI disrupting the linear relationship between revenue and employment.The Indian IT sector is reeling under a single-digit growth cycle….
