Tata group weighs retaining part of telecom business

Mumbai: The Tata group is not looking to sell its telecom business in its entirety, but will retain some valuable segments within the business, said a person familiar with the company’s plans on condition of anonymity. While the group will exit mobile telephony, a business that has been under tremendous pressure with heightened competition from new entrant Reliance Jio Infocomm…

A startup has raised $26 million for a spy tool which scans the dark web for threats against Companies

British cybersecurity firm Digital Shadows has raised $26 million (£19 million) for its platform that searches the darkest corners of the internet looking for the chatter associated with threats against specific organisations. The Series C funding round was led by venture capital firm Octopus Ventures, with participation from Passion Capital, Industry Ventures, and several others. Total investment in the six-year-old…

Google acquires HTC team in $1.1 billion agreement to beef up hardware division

Google has signed a $1.1 billion dollar cooperation agreement with HTC, the technology company said in a statement on Thursday, after trading of HTC shares were halted on Taiwan's stock exchange before the announcement. The move, first rumored earlier this month and then re-emerged this week , is the search giant's latest attempt to juice up its growing hardware division…

Toshiba agrees to sell chip business to Bain-led group for $18 billion

Troubled Japanese conglomerate Toshiba agreed on Wednesday to sell its prized memory business to a consortium led by Bain Capital Private Equity. Toshiba, the world's second-largest producer of NAND memory chips, said the deal was worth about 2 trillion yen ($18 billion). The deal could potentially help Toshiba plug a hole left in its finances following the bankruptcy of U.S.…

Unemployment topmost risk cited by Indian businesses: WEF survey

Unemployment is the topmost risk that Indian businesses face, as per new data from a survey by the World Economic Forum (WEF) which is published by partners of the Forum’s Global Risks Report, Marsh & McLennan Companies and Zurich Insurance Group. Even globally, unemployment or underemployment has been cited as the number one risk. The new data is drawn from…

Arun Jaitley asks business not to wait till last day to file GST returns

With 75 per cent of businesses waiting till the last day to file August GST returns, Finance Minister Arun Jaitley today asked them to avoid last-minute rush for tax filing. He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a day. "Today is the last day…

Uber reviews Asia business over bribery allegations in U.S.: Bloomberg

Uber Technologies Inc [UBER.UL], which is the subject of a federal probe into whether it broke bribery laws, has started a review of its Asia operations and notified U.S. officials about payments made by staff in Indonesia, Bloomberg reported, citing people with knowledge of the matter. A source familiar with the matter told Reuters that the Bloomberg report was accurate.…

Apple, Dell join bid to buy Toshiba’s chip business: US fund

US tech titans Apple and Dell have joined a bid to buy Toshiba's memory chip business, a deal seen as key to the survival of the cash-stripped Japanese industrial conglomerate, the US investor leading the consortium has said. "Last week Bain Capital made a revised offer" for Toshiba, which "brings in a broad list of strategic partners including Apple, Dell"…

Aircel denies report on bankruptcy filing

Shares of Reliance Communications ended lower on Friday amid reports that Aircel is likely to file for bankruptcy under the Insolvency & Bankruptcy Code. The stock fell 4.87 percent lower at 20.50 level on the BSE. However, an Aircel spokeperson denied any move to file for bankruptcy under the Bankruptcy Act, the Economic Times (ET) reported. Earlier, a report by…

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