COMMUNICATION SYSTEM
Axis Bank completes migration of Citibank customers to its systems
Axis Bank faced glitches after migrating Citibank customers to its systems, with many unable to access accounts or log into the Axis app. Axis acknowledged "teething issues" and increased call center staff to address them. Despite problems, 97% of users successfully onboarded, with over a million transactions completed.
Disney's internal communications leaked online after hack, WSJ reports
A Wall Street Journal report revealed that hacker group NullBulge leaked over 1 terabyte of data from Disney's Slack channels. This data includes website management, ad campaigns, technology, and job evaluations dating back to 2019. A blog post detailed the breach. Disney is investigating, confirmed by a company spokesperson. Reporting by Priyanka in Bengaluru.
Defence manufacturer Bharat Electronics secures export order worth Rs 230 crore
Bharat Electronics Limited (BEL) receives a significant export order from Thales Reliance Defence Systems (TRDS) for TR modules used in fighter aircraft radars. BEL also secures additional orders valued at Rs 192 crores. Indian defence manufacturing sector shows growth with increasing exports and government initiatives.
EU antitrust regulators accept Apple's offer to open up mobile payments system
Apple said its offer would give European developers an option to enable tap-and-go payments for car keys, closed loop transit, corporate badges, home keys, hotel keys, merchant loyalty/rewards, and event tickets from within their iOS apps. The offer will be valid for 10 years.
NEET-UG sanctity breach beyond doubt, retest if it's systemic: Apex Court
Supreme Court considers possibility of NEET exam retest due to breach concerns. Government urged to acknowledge irregularities. CBI to provide investigation status report. Cyber forensics and data analytics suggested for fraud detection. Committee proposal for future leak prevention under review. Next hearing scheduled for July 11.
Landslides snap surface communication to several Arunachal districts
Heavy rains in Arunachal Pradesh have caused widespread disruption, with landslides affecting multiple districts and roads. Since April, four people have died due to natural calamities. Over 72,900 people and 257 villages have been impacted by floods and landslides. Infrastructure damage includes roads, bridges, power lines, and water supply systems. Itanagar is facing a severe water crisis. Key roads, including NH-415 and NH-513, are blocked. Authorities are working on restoration, but some areas remain cut off.
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HSBC Flexi Cap review: 22% returns in three years; should you invest in this flexi-cap fund?
Earlier known as HSBC Multicap Equity, this fund was rebranded to reflect its fluid positioning as a flexi-cap fund. The fund prefers quality businesses characterised by scalability and strong execution capability, proven management track record and strong financials. The ESG parameters and valuation are also embedded in the framework. ET Wealth examines the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
DoT invites application for R&D in Quantum Communications
“The main objective is to accelerate research and development in quantum technologies, ensuring the interoperability, reliability, and security of quantum communication systems,” the department of telecommunications (DoT) said in a release Sunday.
Ola has exited Google maps, moved to in-house navigation system: Bhavish Aggarwal
Bhavish Aggarwal, cofounder of Ola Cabs, said the company will now use its in-house navigation system, exiting Google Maps. This comes a month after Ola took its IT workload off Microsoft Azure. The ride-hailing company will add features, including street view, neural radiance fields, indoor images, 3D maps and drone maps to Ola Maps, Aggarwal said in a post on X.
Persistent shares surge 3% post acquisition. Ticks all right boxes, says ICICI Securities
Persistent Systems' shares skyrocketed to a record high after sealing a deal to acquire Starfish Associates, boosting their AI offerings.
Persistent Systems buys US software firm Starfish Associates for Rs 173 crore
Persistent Systems said in a statement, "Known for its cutting-edge Enterprise Communications automation platform, Starfish Associates caters to the world’s largest enterprises including many Fortune 500 companies." Following the acquisition announcement on Wednesday morning, Persistent’s stock hit a 52-week high to 4,596 apiece rising over 2% on the BSE.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
New criminal laws enacted from today: All you need to know about them
India prepares for the enactment of three groundbreaking criminal laws on July 1, 2024, aimed at replacing colonial-era statutes with modern legal frameworks. These laws introduce innovative measures like Zero FIR and expedited trials while addressing concerns about expanded police powers. With meticulous preparations underway, including training programs and technological upgrades, the nation anticipates a transformative shift towards a more efficient and just legal system, emphasizing fairness and timely justice delivery.
New system to ease FPI access to Gsecs awaits RBI nod
Foreign investors seek improved access to Indian bonds through global platforms, awaiting RBI approval. The new model aims for efficient trading with straight-through processing on the NDS-OM platform.
Focus on 'Nyay' instead of 'dand': Amit Shah welcomes 'swadeshi' criminal laws
Union home minister Amit Shah announced the implementation of three new criminal laws—Bharatiya Nyaya Sanhita (BNS), Bharatiya Nagrik Suraksha Sanhita (BNSS), and Bharatiya Sakshya Adhiniyam (BSA)—while addressing a press conference on Monday, marking a significant change in India's criminal justice system 77 years after independence.
Change your job search strategy to deal with age bias; how to search jobs aligned with age
For better or worse, there are tons of younger job seekers competing for fewer jobs than before, and willing to work longer hours for a lower title and salary. How can you optimise your job strategy based on the challenges for your age bracket?
Trai invites views on norm for transferring ownership of machine-to-machine SIMs
The telecom regulator, Trai, is seeking industry views on allowing critical M2M communication services on unlicensed airwaves. It has identified 20 critical M2M services, including those for connected & autonomous vehicles, remote surgery, and smart grid operations.
Learning to roll with the trolls
Like mosquitoes that can't be eradicated, we must learn to coexist with trolls. They're the bitter meds that strengthen our immune system against criticism.
A year apart, Kanchanjunga train mishap brings back memory of Coromandel tragedy
Train Accident Today (Google Trends): The recent collision of a goods train with the Kanchanjungha Express in Darjeeling district, West Bengal, has raised concerns about railway safety. Similar to the Coromandel Express disaster in June 2023, signalling errors were reportedly a factor. The Coromandel Express collision, which resulted in India's worst railway disaster in three decades, highlighted the need for improved safety measures. The incidents underscore the importance of addressing issues in signalling and communication systems to prevent such tragedies in the future.
Will use AI tools to tackle growing instances of spam on WhatsApp: Meta’s Nikila Srinivasan
“From WhatsApp’s perspective, a core principle we follow is that anything has to be reliable and private. Anything that invades our privacy does not have any space on the platform. Our expectation from the businesses is that they have explicit permission before they reach out (to users),” Nikila Srinivasan, the company’s vice president of business messaging, told ET.
Lunar Timekeeping: How Nasa plans to synchronize moon missions
NASA and the European Space Agency (ESA) are working together to create a standardized time system for the moon. This initiative, part of the Artemis program, aims to coordinate lunar missions from various countries and private entities. The lack of a unified time zone on the moon presents logistical challenges, which this effort seeks to address by potentially using Coordinated Universal Time (UTC) or developing a new time scale tailored to the moon's unique environment.
Trai to tighten rules to check pesky communication
The Telecom Regulatory Authority of India (Trai) plans to strengthen regulations and increase penalties to combat pesky communications affecting mobile phone users. Trai will issue a consultation paper to tighten rules and prevent misuse of the system, according to chairman Anil Kumar Lahoti. The government has allocated a new 160 numbering series for service and transactional calls, distinguishing them from promotional calls using the 140 series.
Powerful solar storm impacts Earth, says ISRO
A powerful solar storm from Sun's region AR13664 hit Earth in May 2024, causing disruptions to communication and GPS systems. ISRO reported an intense geomagnetic storm with X-class flares and Coronal Mass Ejections (CMEs). The event, comparable to the historic Carrington event, led to trans-polar flight diversions. ISRO observed effects on the Ionosphere and radio wave reflection.
F&O stocks: TCS, Infosys among 5 stocks with short buildup
In Friday's trading session, the following five stocks witnessed a build of fresh short positions. Let us first understand how this conclusion is reached whether the stock has seen a buildup of fresh short position or not.
What does China's third aircraft carrier's sea trials mean for India
China's third aircraft carrier, Fujian, has embarked on its maiden trials, signaling the country's naval expansion to challenge the US. With a focus on testing propulsion and electrical systems, the trials are expected to last two years before the carrier joins the fleet in five years. Fujian is the largest and most advanced Chinese aircraft carrier, equipped with the Electromagnetic Aircraft Launch System (EMALS) for smoother, more efficient aircraft launches. China's naval modernization is seen as a strategic move to assert dominance in the Indo-Pacific region.
US agency probes risks of foreign satellite use by handheld devices
The Federal Communications Commission has concerns US handheld devices are receiving and processing Global Navigation Satellite System (GNSS) signals from satellites controlled by foreign adversaries in violation of commission rules.
From riches to rags! Smallcap multibaggers of 2023 are now losing momentum
Smallcap stocks have underperformed, with many multibagger stocks showing negative returns this year. Value investors are cautious, and experts have mixed opinions about the future performance of smallcaps. Selective investing and risk reduction strategies are recommended.
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