Marquee Indian IT firms get ready for layoffs

Indian IT majors are hiring in America and firing in India. In the rarified world of the country’s $150 billion IT industry, lay offs have suddenly become the buzzword.
Infosys, Wipro and Cognizant, three marquee IT companies, are among those reportedly firing employees. The numbers range from 1,000 to 6,000. The Indian IT industry employs roughly 3.7 million people.

E-commerce crisis: Softbank writes off $1.4 billion in Indian market

India’s burgeoning e-commerce market is in the throes of a cash crunch. Japanese investor Softbank has announced that it has written off $1.4 billion investment in Indian e-commerce site Snapdeal and cab-hailing app Ola.
The losses have gone up $475 million, reported three months ago.

The death of password nears

Headlines about mass data breaches have become ominously routine, and yet password convenience still trumps security for most people. That’s why, year after year, the world’s most popular log-on remains “123456,” a password so obvious it accounted for 17 per cent of the 10 million compromised passwords analysed by Keeper Security, which sells a log-in management service.

India’s green car plan prioritises electric vehicles over hybrids

India’s most influential government think-tank has recommended lowering taxes and interest rates for loans on electric vehicles, while capping sales of conventional cars, signalling a dramatic shift in policy in one of the world’s fastest growing auto markets.
A draft of the 90-page blueprint, seen by Reuters, also suggests the government opens a battery plant by the end of 2018 and uses tax revenues from the sale of petrol and diesel vehicles to set up charging stations for electric vehicles.

Changing times: Travellers book closer to departure

In today’s fast life, everything is instant. Same for travel too. Travellers these days plan their vacations much closer to the dates — not just domestic trips, but international travel as well.
Till two to three years back, travellers would sit with the agents, make plans and book the air tickets and hotel rooms or purchase a package at least two to three months in advance.
Back then, international travel was not this common and for those who travelled, it was an annual affair.

As cyber warfare turns 10, the West risks falling behind

When Estonia became the first nation on the receiving end of an overwhelming cyber attack 10 years ago last week, government and other critical websites and systems such as banking collapsed in one of the most internet-connected countries of the time. Widely blamed on Russia, the assault prompted Western nations – including the United States – to plow billions into improving their own cyber defenses.

Facebook user base nears 2 billion, profit jumps 76%

SAN FRANCISCO: Facebo­ok on Wednesday reported that its quarterly profit surg­ed as its ranks of monthly us­e­rs closed in on two billion, but warned of rising expenses and slowing revenue growth. The leading social network said it made a profit of $3.06 billion on $8.03 billion in revenue in the first three months of this year, posting increases of 76 per cent and 49 per cent, respectively, compared with the same period last year.

XSTOK bets big on $11b textile surplus

XSTOK, an innovative B2B platform that functions as a central marketplace for buying and selling of ready and surplus goods, is betting big on the surplus stocks, which the textile mills produce every year. Significantly, while the overall size of the textile business in India is $126 billion p.a, comprising yarn (40 per cent), fabric and denim (25 per cent), home textile (20 per cent) and apparels (15 per cent), the textile mills in the country produce an average of $11 billion worth of surplus per annum.

Apple eyeing to tap India’s huge potential

India, Apple CEO Tim Cook has said that the US tech giant was bolstering its presence in India's “underpenetrated” market to tap the huge growth opportunities in the fast-growing economy amidst improving 4G network infrastructure.

Infosys to hire 10K US workers in 2 years

IT major Infosys seems to be reading Donald Trump’s lips. In what could possibly be the result of the US’s administration’s moves to restrict the H1B visa lottery, ensuring that more Americans are hired, India’s second largest IT services provider on Tuesday announced that it will be hiring 10,000 American workers over the next two years.