IT GIANTS
Why Indian IT companies are moving into New Jersey
Top Indian IT companies are zeroing in on New Jersey as its hub, with their top executives and a majority of Indian-origin engineers who work in the US making the city their base. India is New Jersey’s second-largest foreign direct investor and a majority of New Jersey’s immigrant population hails from India.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Who is Orlando Cepeda? Remembering the baseball Hall of Famer as he passes away at 86
Orlando Cepeda was a household name in baseball in the 60s and 70s after he began his journey with the San Francisco Giants at just the age of 20. Cepeda passed away at the age of 86, leaving behind his on-ground antics and his name in the coveted Hall of Fame.
Two giant asteroids are approaching Earth, Here's how to spot the 'Planet Killer' this weekend
This week, astronomers are anticipating the close approach of asteroid 2011 UL21, dubbed the "Planet Killer," as it swings by Earth. Despite its size of approximately 2.5 kilometers in diameter, it will pass at a safe distance of 4.1 million miles—farther than the moon. Recently discovered asteroid 2024 MK, smaller but still considered hazardous, has raised concerns due to its potential impact risks. Astronomers caution that an asteroid of this size could cause significant damage if it were to collide with Earth, underscoring ongoing efforts in planetary defense and monitoring.
Jio, Airtel hike mobile tariffs: Here are some tips to save money on your mobile bills
Reliance Jio and Airtel are preparing to raise tariffs from July 3, 2024, prompting prepaid users to recharge before this date to avoid higher costs. Postpaid users will face immediate price adjustments. The goal is to increase Average Revenue per User (ARPU) for both telecom giants, affecting millions of subscribers across India.
Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
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IT union seeks probe on DXC Technology's 4,800 campus onboarding delays
Data from the IT employee union NITES showed that India’s leading IT firms including Tata Consultancy Services (TCS), Infosys, Wipro and LTIMindtree have delayed joining dates of than 10,000 freshers. Harpreet Singh Saluja, president at NITES said these young professionals well-being and careers are at risk, we have asked the ministry to act as soon as possible.
After iPhone, Foxconn’s next big revenue project in India is AI servers
Contract manufacturer Foxconn said it has plans to begin manufacturing AI servers—the high-performance computing engines that train and run artificial intelligence (AI) models—at its Indian facilities, sources told ET.
Amazon cloud giant AWS wants public sector to embrace AI
Amazon's AWS, the world's biggest cloud computing outfit, is making a major push to entice the public sector to join the artificial intelligence revolution, as the generative AI race with Microsoft and Google heats up. The scramble for public sector adoption of generative AI comes as Microsoft's cloud business as well as Google Cloud are trying to bite into AWS' leadership of the market.
LTIMindtree chairman A M Naik steps down; S N Subrahmanyan appointed as chairman
Stepping down as LTIMindtree chairman, I pass the baton to S N Subrahmanyan at the 28th AGM. The Board appointed Subrahmanyan, noting my privilege in leading this great organisation and laying the foundation for its future growth.
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
Verizon adapts new brand strategy: New logo, wireless and home internet plans, all you need to know
Verizon has taken steps to re-brand itself by introducing a new logo, fresh home and wireless internet plans, along with special video streaming deals, that will help you save on individual subscriptions, and much more. Know how to avail these Verizon offers if you really want to opt for them.
'Walmart Deals' 2024: Everything you may like to know about discount offer
Walmart+ members will have early access to the 'Walmart Deals' promotion, they will be able to begin shopping the deals at noon ET while the general public will have access at 5 p.m. ET.
Pay without work, and a complaint?
French woman Laurence Van Wassenhove takes telecom giant Orange to court after receiving full salary for 30 years without work, citing 'moral harassment' due to medical conditions.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
Apple stops Buy Now Pay Later in US: How will it affect new users?
'Buy Now Pay Later' scheme by Apple Pay Later has now been stopped in the United States, an initiative that was launched only last year. This may now pose a new challenge for Apple enthusiasts planning to purchase products on installment. In the coming days, it will get reflected whether this call by Apple has created any effect on its device purchase ratio.
Ilya Sutskever’s new startup is the latest of many AI ventures coming out of Big Tech
Ilya Sutskever left OpenAI last month and is launching his own startup soon. This is the latest in a larger trend of professionals leaving tech titans to establish their own startups, pursue their own goals and avoid commercialisation of products.
War, money, oil and the shaping of Aramco's giant share sale
A large chunk of this month's $11.2 billion share sale was allocated to foreign investors, leading one person involved in the process to describe it as the deal the IPO was supposed to be. Its success could create a template for future Aramco sell-downs, which now seem likely as the Crown Prince - who's known as MBS - seeks cash to help fund his multitrillion-dollar Vision 2030 economic transformation project.
China to gift new giant pandas to Australia in sign of diplomatic thaw
China has announced plans to gift Australia a new pair of giant pandas in a gesture to strengthen relations. Premier Li Qiang revealed the news during his visit to Adelaide Zoo. The pandas will be sent to Southern Australia's zoo once the current pair, Wang Wang and Fu Ni, return to China later this year. Li's visit signifies a thaw in relations, following recent diplomatic moves that have improved ties since Australia's Labour party took office in 2022.
TCS fined Rs 1,600 crore by US court for misappropriation of trade secrets
Tata Consultancy Services (TCS) was ordered by a U.S. court to pay a total of $194.2 million (around Rs 1,600 crore) in a lawsuit filed by Computer Sciences Corporation (CSC), now DXC Technology Company (DXC). The lawsuit, filed five years ago, alleged that TCS stole CSC's trade secrets.
Cosmic collision of stars this summer can create a dazzling display in the sky, says NASA
Stargazers are set to get a treat of their lifetime as a cosmic collision of two stars is on the cards, that will be visible through the naked eye from the Earth itself. This collision is expected to create a massive display of light in the sky that will indeed an extraordinary watch.
How IT companies are using acquisitions to build engineering prowess
IT companies like Cognizant are acquiring engineering services companies to expand their competencies and fend off competition from pure-play firms. Cognizant's recent $1.3 billion acquisition of Belcan marks its largest in this segment, signaling a trend in the industry.
Like a pop star, Nvidia's CEO Huang stirs up 'Jensanity' in Taiwan
Huang, the local boy who made good, is the subject of wall-to-wall coverage on Taiwanese television and reporters trail him constantly. He was mobbed by attendees at the Computex tech trade fair and has featured in thousands of social media posts.
SAP aims to double embedded AI use cases to 100 by year-end: SAP CEO
Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships. Klein was speaking at SAP’s annual conference Sapphire, where the company unveiled generative AI innovations and partnerships.
Infosys recruits 76% lesser college graduates in FY24
IT major Infosys hired 11,900 college graduates in FY24. This is against over 50,000 graduates hired a year ago, as per data from its annual reports.
Donald Trump joins the TikTok video platform he once sought to ban
Politico, which first reported the news, said he posted a launch video on his account on Saturday night. The video showed Trump greeting fans at an Ultimate Fighting Championship fight in Newark, New Jersey.
Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments
Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.
TCS signs deal with Kuwait’s Burgan Bank
Burgan Bank, one of the youngest commercial banks in Kuwait with a regional network of over 160 branches and 360 ATMs, will use TCS BaNCS suite solutions, which will enable the bank to manage higher transaction volumes, enhance automation, and improve staff productivity.
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