Software Financial News

Wipro, an erstwhile software bellwether now undergoing a protracted turnaround, on Wednesday reported a marginal on-year increase in the September-quarter net profit that declined nearly 8% sequentially, mirroring an industry-wide sluggishness in deal conversions and cautious discretionary spending in primary revenue-generating markets either side of the Atlantic water margin. India's fourth-largest software company also gave a tepid outlook, citing an «uncertain» business environment. Another sharp headcount reduction and circumspect business projections were worse than the grim forecast provided earlier by larger peers, such as Tata Consultancy Services (TCS) and Infosys, for a near $250-billion outsourcing industry that accounts for one-eighth weighting on the Nifty.

nvesting.com — Tesla reported Wednesday quarterly results that missed Wall Street estimates as its recent wave of electric vehicle price cuts weighed on margins.    

Bitfinex Chief Technology Officer (CTO) Paolo Ardoino has stated that drivechains in the Bitcoin network could be the “game changer” amid the ongoing debate surrounding the Bip-300 proposal. 

Indian IT industry anytime soon, engineering colleges are redrawing their strategies to attract more job offers in a tough placement season. Many of these colleges had earlier told ET that they were expecting IT/ITeS firms to step up hiring in the first half of 2024, which marks the second half of the placement season. But now that prospect is looking increasingly bleak.

Amazon Web Services has announced the preview of new capabilities added to its coding assistant Amazon CodeWhisperer that enables organisations to customise the tool to generate specific code recommendations from private code repositories. With this feature, developers who pay for Amazon CodeWhisperer Professional tier can now receive real-time code recommendations that include their internal libraries, APIs, packages, classes and methods, the company said in a blog. AWS promises the highest level of protection for these repositories.

WASHINGTON (Reuters) — Ford Motor (NYSE:F) said on Wednesday it is recalling 35,000 Mustang Mach-E electric vehicles because high voltage battery main contactors may overheat resulting in a loss of driving power.

The Bank of Nova Scotia says it’s cutting about three per cent of its global workforce because of changes to its operations and customers’ preferences, as well as ongoing efforts to streamline operations.

Fund II. The total corpus planned under the fund is Rs 1,500 crore with a greenshoe option of Rs 500 crore.

Wipro, India’s fourth largest IT services provider, recorded a sequential dip of more than 5,000 employees to 244,707in its headcount for the second quarter of FY24. The company’s staff strength for the quarter ended June was 249,758. Its voluntary attrition for IT services stood at 15.5%.

Porsche Cayman 718 sports car after it went missing from a hotel's parking lot. The owner of the sportscar informed the security guards after he found that car missing from the parking lot, who reviewed the CCTV footage captured at the scene.

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Bharti Airtel has launched an integrated omni-channel cloud platform called Airtel CCaaS (contact centre as a service) under its Airtel IQ vertical, it said in a statement Wednesday. The new platform gives end to end solutions for contact centres including voice, cloud, and software.

₹1 crore to ₹150 crore, cover the period between FY18 and FY22 for payments by foreign parent companies to expats working in Indian subsidiaries of MNCs, sources told the paper. Also Read: Dabur gets GST demand notice of ₹320.6 crore The issue surfaced during audits of local arms of MNCs in various sectors, including smartphones, automobiles, software, FMCG, consumer durables, and cosmetics. Although tax demands for transactions made in FY18 were time-barred as of September 30, demands for subsequent years (FY19, FY20, FY21, and FY22) are being served.

Tyro chief executive Jon Davey says the payment provider’s new strategy will restore market confidence in the business after a drawn-out and, ultimately, doomedprivate equity takeover fight led to a plunge in its share price earlier this year.

By Sarah Wu

New Zealand broadband play Devoli is preparing for movement on its register as a major shareholder looks for the exit.

The IRS plans to invite a select group of taxpayers across 13 states to try out the agency’s pilot electronic free file tax return system, beginning this January

IIM Shillong hosted the first CXO Round Table Meet at Delhi that brought together a panel of industry leaders, academicians, and stakeholders to engage in an insightful discussion. IIM Shillong is the only IIM in the entire NE region which was established in the year 2008. The intend was to celebrate its 15 years of commitment to excellence.

JPMorgan raised CyberArk Software (NASDAQ:CYBR) to Overweight from Neutral, increasing the price target to $200 from $182 in a note Tuesday. The firm also opened a Positive Catalyst Watch on the stock.

No company looks forward to tax season, but for Web3 businesses, preparing can be particularly difficult. Global operations subject Web3 businesses to a variety of tax regulations and compliance requirements, and many regions lack regulatory clarity. Different digital tokens may have different tax statuses, making correct classification and reporting a tremendous challenge. The complexity is further increased by having to keep meticulous records of various cryptocurrency transactions, dealing with crypto-to-crypto swaps and managing market volatility.

Newgen Software Technologies, a small-cap IT stock, finished Tuesday's session strongly with a gain of 11.37% at ₹1,041.40. The stock hit an all-time high of ₹1,060 during the trade. This impressive performance followed the company's strong financial results for the quarter ending in September.