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Nilekanis, 3 PIOs pledge to donate over half their wealth to charity

Infosys co-founder and chairman Nandan Nilekani, his wife Rohini Nilekani, and three Indian-origin billionaires have joined the philanthropic initiative created by philanthropists Bill and Melinda Gates and Warren Buffett, pledging to commit more than half of their wealth to charitable causes.

Pfizer seeks another miracle drug

It has been 20 years since Viagra was introduced, and Pfizer is still searching for another drug with as much earning power as the revolutionary blue erection pill.

If anything, the chances for another miracle drug may be waning as the pharmaceutical giant constrains its research and development budget amid broader cost-cutting efforts.

Pfizer forecasts it will spend $7.4 to $7.9 billion this year on R&D, compared with $7.7 billion last year, according to projections released in February.

Road gets tougher for electric car innovator Tesla

Tesla, which until recently had been seen as cruising to a bright future, has suddenly hit a rough stretch as fresh concerns over the future of autonomous vehicles have exacerbated worries over its ability to hit production targets.

Shares in the California electric car innovator skidded 7.7 per cent on Wednesday at the close, a day after an 8.22 per cent slide. The declines have wiped out some $9 billion in market value.

Google pushes to turn product searches into cash

Alphabet Inc’s Google routinely fields product queries from millions of shoppers. Now it wants to take a cut of their purchases, too.

The US technology company is teaming up with retailers including Target Corp, Walmart Inc, Home Depot Inc, Costco Wholesale Corp and Ulta Beauty Inc.

Under a new programme, retailers can list their products on Google Search, as well as on the Google Express shopping service, and Google Assistant on mobile phones and voice devices.

Bitcoin tops $11,000, marks 11-fold rise in 2017

Virtual currency bitcoin soared to an all-time high above $11,000 on Wednesday on major exchanges and digital currency indexes, including the widely followed Luxembourg-based trading platform BitStamp.

The cryptocurrency broke through the $11,000 barrier, for the first time, despite warnings from traditional marketplaces and market-watchers. The digital currency was trading at $11,395 per coin, according to Reuters data. A 15 per cent increase from Tuesday brings its gains for 2017 to date to more than 1,000 per cent.

Wah, Wonder Woman indeed

Gal Gadot has reportedly refused to sign the much-awaited sequel of Wonder Woman if Hollywood producer Brett Ratner, who has been accused of sexual harassment and homophobia, remains attached with the movie. An insider told Page Six that the 32-year-old star, who plays the title role in the Patty Jenkins-directed film, does not want the successful franchise to benefit a man accused of sexual misconduct.

Ratner’s production company RatPac-Dune Entertainment backed Wonder Woman as a part of its co-financing deal with Warner Bros studios.

US business schools to give intense software training

US business schools are beefing up training in the software that underlies digital currency bitcoin, a technology expected to be a game changer in many industries. The move makes sense as more students seek careers in financial technology, or "fintech," which has captivated leading Wall Street banks and been called "the most important technology since the internet."

Bidding war heats up for $5b Amazon HQ2

It’s the prize of a lifetime – a $5 billion investment creating 50,000 well-paid jobs that everyone wants, but only one US city will get.

From East to West, from North to South, metropolises across the United States are locked in a frenzied bidding war desperate to woo Amazon into favouring them as the site of the e-commerce giant’s second headquarters.

Nooyi, Kochhar, Sharma on Fortune’s most powerful biz women list

Two Indians – Chanda Kochhar and Shikha Sharma – have made it to the rankings of most powerful women in business outside the United States drawn up by the Fortune magazine while Indra Nooyi featured in the top 3 on the US edition list.

The most powerful women in business outside the US list, which was topped by Banco Santander group executive chairman Ana Botin, placed ICICI Bank’s Kochhar at the fifth spot while Axis Bank’s Sharma has been ranked 21st.

Got short-range nukes to counter India’s ‘Cold Start’ doctrine: Pak PM

Pakistan has developed short-range nuclear weapons to counter the ‘Cold Start’ doctrine of the Indian Army, country’s Prime Minister Shahid Khaqan Abbasi said on Thursday. Abbasi was addressing a gathering at the Council on Foreign Relations, a top American think-tank, on his maiden visit to the US after taking over his new office. On Tuesday, he met with US Vice-President Mike Pence. He will address the annual UN General Assembly session on Thursday.