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Amazon removes products with images of Hindu Gods after criticism
short by Gaurav Shroff / on 17 May 2019,Friday
A day after #BoycottAmazon was trending on Twitter, e-commerce major Amazon has taken down products like doormats, shoes, and toilet seat covers from its site which had images of Hindu Gods on them. "All sellers must follow our selling guidelines and those who do not will be subject to action including potential removal of their account," Amazon said.
short by Gaurav Shroff / 04:50 pm on 17 May
Bezos' stepfather went to US from Cuba at 16 with 3 shirts, 3 pants
short by Gaurav Shroff / on 18 May 2019,Saturday
World's richest person Jeff Bezos has revealed his stepfather Miguel Bezos came to Miami from Cuba alone aged 16 with three shirts, three pants and three underwear. "Mike's parents were not allowed to enter the airport...He only spoke Spanish...His grit, determination, and optimism are inspiring," said Jeff as Mike was honoured at the opening of Statue of Liberty's new museum.
short by Gaurav Shroff / 03:30 pm on 18 May
Will review all Tesla expenses to cut costs: CEO Musk to staff
short by Kanishka Pandey / on 18 May 2019,Saturday
Tesla CEO Elon Musk has said he will personally review all of the electric carmaker's expenses in a new cost-cutting plan, Reuters has reported. "Going forward, all expenses of any kind anywhere in the [world], including parts, salary, travel expenses, rent, literally every payment that leaves our bank account must [be] reviewed," Musk wrote in the email to employees.
short by Kanishka Pandey / 09:00 am on 18 May
Trump says imported cars pose security threat, Toyota responds
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Japan's largest carmaker Toyota sharply criticised President Donald Trump's declaration on Friday that imported cars and components threaten US national security. The company said it has spent more than $60 billion building operations in the country, including 10 manufacturing plants. Trump's proclamation "sends a message to Toyota that our investments are not welcomed," it added.
short by Krishna Veera Vanamali / 05:33 pm on 18 May
Sony Music copyright strikes Kerala temple music videos online
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Several people who recorded and uploaded videos of Thrissur Pooram's orchestra on Facebook and YouTube have claimed that they are being marked for copyright violation by Sony Music. The videos were allegedly blocked for containing sounds similar to tracks of the multilingual movie 'The Sound Story', starring Oscar-winning sound designer Resul Pookutty. Sony owns the copyright for the film's music.
short by Krishna Veera Vanamali / 08:00 pm on 18 May
Some things must remain sacred or we become Taliban: Mahindra
short by Krishna Veera Vanamali / on 17 May 2019,Friday
Taking a veiled dig at BJP's Pragya Thakur over her "Nathuram Godse is a patriot" remark, Mahindra Group Chairman Anand Mahindra tweeted that India has been the land of Mahatma Gandhi for 75 years and a beacon when the world lost its morality. "Some things must remain sacred. Or we become Taliban, destroying statues that sustain us," the billionaire said.
short by Krishna Veera Vanamali / 06:15 pm on 17 May
Aramco to supply extra 2 mn barrels a month to Indian Oil from July
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Saudi Aramco will supply Indian Oil an extra 2 million barrels of crude every month during July-December (1.6 million tonnes in total). Indian Oil has a term deal to buy 5.6 million tonnes from Aramco in 2019-20 and an option to buy additional 2 million tonnes. India is looking to make up for loss of Iranian oil after US sanctions.
short by Krishna Veera Vanamali / 10:00 am on 18 May
Etihad's nominee on Jet Airways board Robin Kamark resigns
short by Krishna Veera Vanamali / on 17 May 2019,Friday
Grounded carrier Jet Airways Friday said that Etihad's nominee director on the airline's board, Robin Kamark, has quit the company with immediate effect. After Kamark's exit, only Ashok Chawla and Sharad Sharma remain on Jet Airways board. Recently, four senior executives, including CEO Vinay Dube and Chief Financial Officer and Deputy CEO Amit Agarwal quit the carrier.
short by Krishna Veera Vanamali / 06:57 pm on 17 May
HDFC digital banking head Nitin Chugh quits, joins Ujjivan as CEO
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Ujjivan Small Finance Bank has appointed Nitin Chugh as the next Managing Director and CEO for three years starting December 1. Chugh, who has worked with HDFC Bank since April 2001, currently serves as its digital banking head. He will join Ujjivan as President in August and will work closely with current chief Samit Ghosh to ensure a "smooth transition".
short by Krishna Veera Vanamali / 03:23 pm on 18 May
Fan shares pic of BMW with 'I love ARR' plate, AR Rahman replies
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
An AR Rahman fan from Australia shared a picture of his new BMW car, which carried an "I ❤️ ARR" license plate, on Twitter. The Oscar-winning musician replied to the tweet saying, "Drive safely". "I wanted the car to have my idol's name on it. Thank you for changing my life with your music," the fan wrote in his post.
short by Krishna Veera Vanamali / 09:05 pm on 18 May
Nandan Nilekani's panel on digital payments submits report to RBI
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
The high-level committee on deepening digital payments, headed by Infosys Co-founder and Chairman Nandan Nilekani, submitted its report to Reserve Bank of India Governor Shaktikanta Das on Friday. Besides Nilekani, former RBI Deputy Governor HR Khan and former Steel Secretary Aruna Sharma were also part of the five-member panel. The team was formed in January this year.
short by Krishna Veera Vanamali / 11:23 pm on 18 May
Boeing completes software update for grounded 737 MAX planes
short by Krishna Veera Vanamali / on 17 May 2019,Friday
Boeing on Thursday said it had completed a software update for its 737 MAX jets, which have been grounded worldwide since March after they were involved in two fatal crashes. The US planemaker said it has flown the 737 MAX with updated software for more than 360 hours on 207 flights. Boeing now awaits approval from US Federal Aviation Administration.
short by Krishna Veera Vanamali / 05:01 pm on 17 May
Trade war may cause dumping of Chinese goods in India: India Ratings
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
The US-China trade war could lead to China dumping goods at predatory prices in India, India Ratings said. Products like electronic goods, iron, steel and organic chemicals would be most affected, it said. India may not benefit from the trade war as there's a "stark difference" in the nature of commodities exported by India and China to US, it added.
short by Krishna Veera Vanamali / 04:40 pm on 18 May
Taj, Singapore sign ₹4,000 cr partnership to buy hotels in India
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Indian Hotels Company, which runs hotels under Taj, Vivanta and Ginger brands, has partnered with Singapore's wealth fund GIC to invest ₹4,000 crore for buying hotels in India. The equity contribution of Indian Hotels in the acquisitions will be 30% and GIC's will be 70%. The partners will acquire fully-operational hotels mainly in the luxury, upper scale and upscale segments.
short by Krishna Veera Vanamali / 09:00 am on 18 May
Yes Bank recalls ₹1.44 crore in bonus paid to Founder Rana Kapoor
short by Krishna Veera Vanamali / on 17 May 2019,Friday
Yes Bank has clawed back performance bonus of ₹1.44 crore paid to Co-founder and former CEO Rana Kapoor for 2014-15 and 2015-16, following directions from the Reserve Bank of India. The private lender did not pay any performance bonus to Kapoor in financial years 2016-17 and 2017-18. Kapoor stepped down in January after RBI declined to give him another term.
short by Krishna Veera Vanamali / 10:00 pm on 17 May
Economist Thomas Piketty to study Kerala model, meets CM Vijayan
short by Krishna Veera Vanamali / on 17 May 2019,Friday
Kerala CM Pinarayi Vijayan met French economist Thomas Piketty in Paris on Thursday during his 4-nation European tour. "The renowned economist has expressed a desire to conduct an in-depth study on Kerala's Growth Model," Kerala Chief Minister's Office tweeted. Lucas Chancel, who has conducted studies on income inequality in India, was also part of the discussions.
short by Krishna Veera Vanamali / 04:55 pm on 17 May
Spencer's to buy Nature's Basket from Godrej for ₹300 crore
short by Krishna Veera Vanamali / on 17 May 2019,Friday
RP Sanjiv Goenka Group's Spencer's Retail on Friday announced it will buy upmarket grocery chain Nature's Basket from Godrej Industries for ₹300 crore. Nature's Basket, which reported sales of ₹338 crore last fiscal, currently operates 36 stores in Mumbai, Pune and Bengaluru. Spencer's runs 156 convenience stores and hypermarkets across 39 cities in the country.
short by Krishna Veera Vanamali / 07:30 pm on 17 May
Aircel lenders agree to take 99% haircut on ₹20,000 cr dues: Reports
short by Krishna Veera Vanamali / on 18 May 2019,Saturday
Lenders to bankrupt Aircel have reportedly agreed to take a 99% haircut on their outstanding dues of ₹20,000 crore by agreeing to a ₹150-crore upfront offer by UV Asset Reconstruction Company (ARC). The telecom operator approached the bankruptcy court in February 2018. The resolution plan needs the approval of National Company Law Tribunal before UV ARC can take over Aircel.
short by Krishna Veera Vanamali / 06:32 pm on 18 May
I have no desire to take control of IndiGo: Co-founder Gangwal
short by Krishna Veera Vanamali / on 19 May 2019,Sunday
IndiGo Co-founder Rakesh Gangwal has said that he has no desire whatsoever to take control of the airline. Meanwhile, CEO Ronojoy Dutta said there may be differences currently on certain matters but the company has a great track record of resolving issues. "I wish to dispel all attempts to portray us as a fractured team at IndiGo," he added.
short by Krishna Veera Vanamali / 10:00 am on 19 May
Former Apple retail chief & Burberry CEO joins Airbnb board
short by Kanishka Pandey / on 17 May 2019,Friday
US-based home-renting platform Airbnb has appointed Angela Ahrendts, former Senior Vice President of Retail at Apple, as its third independent non-affiliated board member. Ahrendts joined Apple in 2014 after serving as CEO of the British fashion house Burberry for eight years. Notably, Ahrendts had been one of the highest-paid employees at Apple with total compensation of $26.5 million in 2018.
short by Kanishka Pandey / 05:19 pm on 17 May
China's Baidu reports 1st-ever quarterly loss since 2005 IPO
short by Kanishka Pandey / on 19 May 2019,Sunday
Chinese internet giant Baidu has reported its first quarterly loss in nearly 14 years since it went public in 2005. Nasdaq-listed Baidu also reported a net loss attributable to shareholders of about $47.5 million for the quarter ended March 31, 2019. The Chinese search engine operator warned of a "challenging environment" ahead, saying Q2 revenue could decline up to 3%.
short by Kanishka Pandey / 09:00 am on 19 May
HP spinoff to buy supercomputer maker Cray for $1.3 billion
short by Kanishka Pandey / on 18 May 2019,Saturday
Hewlett Packard Enterprise (HPE) has agreed to buy supercomputer manufacturer Cray for about $1.30 billion. HPE said Cray investors will get $35 a share in cash, a premium of over 17% to Cray's Thursday closing price of $29.81. It added it expects to incur one-time integration costs that will be absorbed within its fiscal year 2020 free cash flow outlook.
short by Kanishka Pandey / 08:00 am on 18 May
Former Infosys CEO Vishal Sikka joins BMW supervisory board
short by Kanishka Pandey / on 17 May 2019,Friday
German luxury automaker BMW Group has appointed former Infosys CEO Vishal Sikka to its supervisory board. Sikka had quit as the MD and CEO of Infosys in 2017 in just three years after a clash with Founder NR Narayana Murthy over corporate governance issues. Sikka, an AI PhD alumnus from Stanford, was reportedly working on an AI startup after Infosys.
short by Kanishka Pandey / 07:48 pm on 17 May
Tesla to pay $13mn to worker left disabled in car accident at work
short by Kanishka Pandey / on 17 May 2019,Friday
Tesla has reached a $13-million settlement with former contract janitor Teodora Tapia, who was left permanently disabled after being struck by a Model S at a Tesla factory in August 2014. Joseph Aguilar, who was driving the Model S, was an employee of West Valley Staffing Group (WVSG), Tesla revealed. Earlier, Tesla had agreed it shared liability for Aguilar's conduct.
short by Kanishka Pandey / 06:02 pm on 17 May
Nestle in talks to sell skin health unit for $10 billion
short by Shruti Maria Mahendar / on 17 May 2019,Friday
Nestle has entered exclusive talks to sell its skin health business for $10.1 billion to a consortium led by EQT Partners, a unit of the Abu Dhabi Investment Authority and PSP Investments. The move comes as the food group shifts its portfolio in response to changing consumer demands. Nestle put the skin health unit up for sale last September.
short by Shruti Maria Mahendar / 11:18 pm on 17 May
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