Software Financial News

Shares of British semiconductor and software design company Arm Holdings (NASDAQ:ARM) have been on a roller on Wall Street this year. Despite the Cambridge-based company's 20% drop yesterday, the microprocessor manufacturer is still up nearly 60% in 2024.

Arvind Bellad, Karnataka BJP MLA from Hubli-Dharwad West constituency, Wednesday criticized IT major Infosys for not creating a single job at its Hubballi campus despite acquiring 58 acres of land in his home constituency. The BJP leader even demanded the government to reclaim the land from the software giant.

History suggests there will be at least a 5% slide in the S&P 500, according to Wells Fargo in a note Wednesday.

Stocks that traded heavily or had substantial price changes on Tuesday: Hasbro, Goodyear fall; JetBlue Airways, TripAdvisor rise

the semiconductors that power the digital economy have proven trickier to master. That has been the source of much anxiety among its political and business elites in recent years. America’s decision in 2022 to halt exports to the country of its whizziest chips and chipmaking tools brought into stark relief the chokehold of China’s geopolitical rivals over the industry.

Bank of America has named Infosys McCamish Systems (IMS), the US subsidiary of Indian software services giant Infosys, as the source of a data leak owing to a ransomware attack suffered by over 57,000 of its users in November, according to documents reviewed by ET. “On or around November 3, 2023, IMS was impacted by a cybersecurity event when an unauthorized third party accessed IMS systems, resulting in the non-availability of certain IMS applications. On November 24, 2023, IMS told Bank of America that data concerning deferred compensation plans serviced by Bank of America may have been compromised,” said a letter sent earlier in February to Bank of America consumers informing about the data breach. ET has reviewed the letter.

By Raphael Satter

The artificial intelligence (AI) revolution is playing out, according to analysts at Wedbush, who believe there is a «tidal wave» of spending coming to the tech industry.

(Updated — February 13, 2024 11:19 AM EST)

Morningstar is offering more choice for independent advisors in the US investing space with the addition of new third-party investment options to its wealth management platform.

Foundation-focused cloud SaaS technology firm Foundation Source has acquired PG Calc to enhance its suite of charitable giving solutions.

Cruise, the troubled General Motors autonomous vehicle unit, has hired a veteran automotive and technology company safety official for the critical position of chief safety officer

LTIMindtree Ltd. 0.0 per cent to Rs 5517.05 in Tuesday's trade. It hit an intraday high of Rs 5536.2 and low of Rs 5466.0, respectively, during the day. The stock quoted a 52-week high price of Rs 6442.65 and low of Rs 4130.3.

Tata Steel, NPCI, Jio Financial Services, Newgen Software Tech, Javis, BNP Paribas, Axis Bank and S&P Global, the institute said in a statement on Tuesday. Cluster 3 comprised firms across eight cohorts including BFSI, analytics & IT consulting, core manufacturing & infrastructure, renewable energy & greentech, government enterprises, enterprise tech, fintech and logistics. Many new recruiters participated this year across cohorts, including Waree and Jio Financial Services.

By Stephen Nellis

(Updated — February 12, 2024 11:21 AM EST)

OpenAI Chief Executive Sam Altman’s plan to reshape the global semiconductor industry envisions pouring vast sums into a challenge that is far more complicated than money. Manufacturing chips is enormously capital intensive. It is also one of the most intricately complex industries in the world with a history of sharp cyclical swings that have made companies wary of radical expansion.

Canara Bank will soon seek regulatory approval to convert an IT subsidiary into a credit card company as the state-owned lender aims to leverage its existing customer base for selling credit cards with unbridled focus to tap this potential growth market. Managing director K Satyanarayana Raju told ET that the bank is in the advanced stages of submitting an official application with the Reserve Bank of India to start the venture where it will have a 94% stake with Karur Vysya Bank holding the remainder. Canara Bank currently holds 69.14% stake in the subsidiary, Canbank Computer Services. Bank of Baroda owns 18.52% while DBS Bank and Karur Vysya hold 6.17% each. Canara Bank has received commitment from BoB and DBS to buy out their respective stakes.

Sterling and Wilson Renewable Energy (SWRE) on Monday said it has placed orders with US-based Nextracker for supply of solar trackers for projects in Gujarat. SWRE is implementing solar projects at NTPC Renewable Energy Ltd's (NTPCREL) solar park in Khavda, Rann of Kutch, a company statement said. «Nextracker has been selected for repeat order. Nextracker was selected to supply its flagship solar trackers for phase two (1.5 GW) and phase three (375 MW) solar projects at NTPCREL's solar park,» SWRE said. With this order, SWRE and Nextracker have surpassed over 5 gigawatts of collaborative solar power generation projects globally.

Also Read: Multibagger railway stocks IRFC, RVNL and 3 others fall up to 11.5%. Here's why The company's shares have shown a steady growth trend over the past four years, increasing from approximately ₹20.25 apiece to the current value of ₹629 apiece, resulting in a stunning return of 3006%. Remarkably, the stock has achieved multibagger returns in three of the last four years.

Decades after automation began taking and transforming manufacturing jobs, artificial intelligence is coming for the higher-ups in the corporate office. The list of white-collar layoffs is growing almost daily and include jobs cuts at Google, Duolingo and UPS in recent weeks. While the total number of jobs directly lost to generative AI remains low, some of these companies and others have linked cuts to new productivity-boosting technologies like machine learning and other AI applications.