Category Archives: Business
Auction listing fees cut for casual sellers: EBay
In order to attract more sellers who occasionally auction off items, the online marketplace, eBay is eliminating some upfront fees.
EBay Inc. said on Tuesday that users will soon be able to offer up to five items for auction every 30 days without paying the fees that eBay usually charges to list goods. Those listing fees [...]
Chrysler assets bidding approved by Judge
A U.S. bankruptcy judge approved bidding procedures for the rapid sale of most of Chrysler’s assets, over objections from a group of lenders who called the accelerated timetable an “absurdity”.
Judge Arthur Gonzalez, who is overseeing Chrysler’s bankruptcy case in Manhattan, said late on Tuesday, the proposed procedures were “appropriate and necessary” given that there is [...]
Tech Mahindra emerged as highest Satyam bidder
In a move Mahindra Group Vice-Chairman Anand Mahindra termed a “game changer”, Tech Mahindra emerged the highest bidder for Satyam.
If it goes through, the deal will give Tech Mahindra a seat at the high table of the Indian IT services business. It will also mark the end of the uncertainty surrounding Satyam, though the firm’s [...]
Tata Steel to start production in SA next year
World’s sixth largest steel producer Tata Steel said it will begin production at Sedibang mine in South Africa from next year.
“A small iron ore mine at Sedibang in South Africa will begin production next year. We would get two million tonnes per annum,” Tata Steel managing director B Muthuraman said.
The company is currently focussing on [...]
Asian Stocks on 6-month high
Asian shares rose on Friday, with South Korean stocks hitting a 6-month high after the country averted recession in the first quarter, as a Wall Street rally boosted risk demand around the region and dented the yen.
Many financial centers in the region were closed for a long weekend, making investors nervous that gains made now [...]
Tata Nano bookings begin
Bookings for Tata Motors’ much-waited car, ‘Nano’ started across the country on Thursday and will continue till April 25.
“Bookings (for the Nano) began today morning and we hope the response will be encouraging,” a Tata Motors spokesperson said.
The sale of application forms for the Nano started on April 1 and the response has been “very [...]
Xerox Strikes outsource services to HCL
Xerox Corp will pay $100 million over six years to outsource data-center services to HCL Technologies Ltd, one India’s largest information technology service providers, a Xerox spokesman said on Sunday.
As part of the deal, HCL will manage disaster-recovery preparation and consolidate Xerox’s data centers in North America and Europe, spokesman Bill McKee said.
Last year Norwalk, [...]
4G Wireless from Verizon targets Rural America
Verizon Wireless plans to launch the new 4G Wireless in 2010 which is targetted at rural America. But extending the network to every nook and crack in the U.S. will likely take years.
Tony Melone, senior vice president and chief technology officer for Verizon Wireless, said during an interview at the CTIA Wireless 2009 tradeshow that [...]
Satyam employees join Bank of America
About 250-300 employees from Indian outsourcer Satyam Computer Services are joining Bank of America, the Business Standard newspaper said on Wednesday.
The employees were working on a Satyam project for Merrill Lynch, which was taken over by the U.S. bank after it was hit by the subprime crisis last year, it said.
The project was not renewed [...]
L&T bags Rs 345 Crore order
Larsen & Toubro has said it has received an order worth Rs 345 crore from the Nuclear Power Corporation of India Ltd (NPCIL) for manufacturing and supplying steam generators.
In a filing to the Bombay Stock Exchange, L&T said it has bagged an order valued at Rs 345 crore from NPCIL for design, manufacture and supply [...]
FICCI asks to reduce Corporate tax rate
According to the findings of a total tax contribution (TTC) survey, the Federation of Indian Chambers of Commerce and Industry(FICCI) has demanded reduction in the corporate tax rate.
The TTC Survey 2008 has provided a comprehensive picture of the taxes borne and collected by 41 participating companies, out of the 100 companies constituting the S&P CNX [...]
Tata Group stocks gain
Leading Tata group firms, including Tata Motors and Tata Steel, outperformed Sensex in March by surging more than twice of what the benchmark index has gained in the month so far.
According to a comparative analysis of their performance, the 30-share Sensex, which regained the 10,000-level last week, surged 13 per cent in the one-month period [...]
India Needs More Stimulus Measures says Ahluwalia
India will need to introduce further measures to stimulate growth, said Montek Singh Ahluwalia, deputy chairman of the nation’s Planning Commission, ahead of a Group of 20 meeting on the global economic crisis.
The new government that takes over in May after general elections will need to take steps to try and maintain the current year’s [...]
Spice probable to withdraw from Satyam Bid
Spice Group on Wednesday alleged that there was no openness and transparency in the bidding for Satyam Computer and said it would soon decide on whether to go ahead with the bidding process.
“We feel there is no openness and transparency… The Satyam board is now talking about another short listing of bidders. We do not [...]
Nano in Indian Roads By July
The Tata Nano, the world’s cheapest car, will hit Indian roads in July, with expectations that demand from millions of aspiring car owners will far outstrip supply.
Launching six months behind schedule in a subdued market, with production in the first year severely constrained, and the threat of further ratings downgrades hanging over the company, it [...]
Wal-Mart grab share in Chicago
When Wal-Mart Stores Inc. opened a Supercenter in suburban Country Club Hills in 2006, Karen Talchik changed her shopping routine. With a Wal-Mart supermarket near her house, the Oak Forest teacher abandoned her old grocery standby.
She said the service sometimes isn’t as good at Wal-Mart—the lines at the deli and checkout counters can be longer [...]
