Miscellany

Miscellany

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.

Amazon to add 7 warehouses, hire 4,000 in India

E-commerce giant Amazon continues to aggressively expand its operations in the country with the addition of seven new warehouses, a move that will provide employment to about 4,000 people.
The US-based company, which has committed an investment of $5 billion in the Indian market, will have 41 warehouses or Fulfilment Centres (FCs) by the end of June this year.

E-portals may soon have to display full product details

E-commerce companies such as eBay, Amazon, Snapdeal and Flipkart may have to soon mandatorily display on their websites all information regarding products, which consumers need to know before
buying.
Products displaced on e-commerce sites at present provide only limited information to consumers. At times even expiry date of products is not available to e-customers. Of late, complaints of lack of product details have been swelling against e-retailers.

India’s role ‘crucial’ in WhatsApp

India's most valuable business is earning money hand over fist from oil. Yet what’s exciting investors about Reliance Industries Ltd are its telecoms losses.

Facebook envisions using brain waves to type words

Facebook Inc’s research unit Building 8 is working to make it possible for people to type using signals from their brains, part of the lab’s broader effort to free people from their phones.
Regina Dugan, hired from Alphabet Inc last year to oversee the lab, said that within “a few years’ time” Facebook aims to develop a system that can type at 100 words per minute, just from monitoring the brain, without using any kind of implant. The company is working with outside academics on the issue.

Bansalgate shows no sign of cooling off

With a new drama playing out over former Infosys CFO Rajiv Bansal (in pic) taking the arbitration route to get the company to settle the balance amount as agreed in the severance agreement, when he left the company in late 2015, old fissures have reopened between the founders and the executive management.

Wipro sacks 600 on performance grounds

India’s third largest software services company Wipro has sacked hundreds of employees following its annual “performance appraisal.”
As per sources, Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000.
At the end of December 2016, the Bengaluru-based company had over 1.79 lakh employees.
When contacted, Wipro said it undertakes a “rigorous performance appraisal process” on a regular basis to align its workforce with business objectives, strategic priorities of the company, and client requirements.

Amazon unveils Fire TV Stick at Rs 3999

Amazon India has launched its premium streaming device, the Amazon Fire TV Stick, at a price of Rs 3,999 along with with voice remote.
This comes three and a half months after introducing Prime Video and is a move by the logistics-major to take over India’s small screen market by storm.
With the India launch of the device, which lets its users stream video content directly on television, the company is seen standing tall against competitors like Google’s Chromecast.

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