Software Financial News

28.07 / 00:43

Manufacturing Mobile Software Intel country electronic Intel sees an opening in India’s fast rise as manufacturing hub: India sales head Santhosh Viswanathan

chipmaker Intel Corp., potentially enabling the country’s consumer electronics and technology manufacturing industry to replicate the success of its credentialed software sector — and create a ‘huge’ number of factory jobs in the process. The California, US-based company is looking at India as a top manufacturing base for supplying to three buckets of hardware products–laptops, data centres and servers — and electronics connected to internet of things (IoT) such as vending machines and cameras, said Santhosh Viswanathan, MD and vice president, sales, marketing and communication group, at the company’s India arm. “Electronics manufacturing creates thousands of jobs.

28.07 / 00:09

UPS Lowe's Software TCS Drop India's top 4 IT firms saw headcount drop by nearly 20,000 in Q1. Know more

Wipro, Tech Mahindra and Infosys - lost employees in the quarter ended June 2023. Tata Consultancy Services meanwhile saw a net addition of 523 employees during the same period. Infosys saw its attrition rate improve to stand at 17.3% at the end of June even as the company lost nearly 7,000 employees.

27.07 / 20:31

UPS Platform Software Enterprise Matrix stage country Together makes first close of $150 mn fund

Together Fund, an early-stage venture capital firm focused on software-as-a-service (SaaS) companies, has made the first close of its second fund that has a corpus of $150 million. The proceeds of the fund will be used to make early stage investment in SaaS and artificial intelligence (AI) startups, the VC firm said on Thursday, adding the fund has already received commitments from institutional investors from the US and Asia. The firm didn’t say how much it raised in the fund’s first close.

27.07 / 20:31

UPS Microsoft Google Action Software show Little-Known Tips for Working Smarter With Your Office Software

I have been using Microsoft Word and Excel for a quarter-century. So to leverage this “expertise," I recently took proficiency exams on LinkedIn that would have conferred skill badges to my profile on the site. I failed them.

27.07 / 20:07

UPS Citi Software show track Investigators say poor track conditions caused a 2021 Amtrak derailment in Montana that killed three

A derailment of an Amtrak train in Montana that killed three people in 2021 was caused by a poor track conditions at the accident site, federal investigators said in a final report

27.07 / 20:07

UPS Cooper Microsoft Software performer EU investigates Microsoft over concerns bundling Teams with Office eliminates competition

The European Union has opened an antitrust investigation into Microsoft over concerns that bundling its Teams messaging and videoconferencing app with its Office productivity software gives it an unfair edge over competitors

27.07 / 18:56

UPS BLOCK Cooper Microsoft Software Browser European Commission Microsoft Faces European Antitrust Investigation Over Bundling of Teams Software

The European Union opened an antitrust investigation into whether Microsoft is abusing its dominant position by bundling its Teams videoconferencing app with its popular Office productivity software, marking the first formal EU probe of the software giant in more than a decade. The bloc’s executive body, the European Commission, said it is concerned that Microsoft may be giving Teams an unfair advantage by not allowing customers to choose whether access to the product is included when they subscribe to the company’s productivity software.

27.07 / 16:33

UPS Digital Waters SEC Software Framework Crypto regulation framework moves forward but will it become law?

Legislation championed by crypto advocates that sets clearer rules for the nascent industry was approved by a key US House panel on Wednesday.

27.07 / 16:33

UPS Provident Action Software Labrador social class action Edward Jones named in potential Canadian class action

Multiple class-action lawsuits have already been launched in the United States following the massive data breaches and exploitation related to Fortra’s GoAnywhere MFT file transfer software in January.

27.07 / 09:13

UPS Lowe's Siemens Manufacturing CEO Software India could be a breakout emerging market for the next decade: Nirav Sheth

«I have been very constructive on software for a while now. And the underlying hypothesis is the fact that we generally believe that inflation was always a supply side problem,» says Nirav Sheth, Emkay Global Financial Services.Let us start with technology then. Do you think technology space has bottomed out or not yet? I have been very constructive on software for a while now.

27.07 / 07:01

UPS Digital Booking Software Enterprise show generative AI Generative AI will really help us to increase our business: Sanjay Lodha, Netweb Tech

«Around 50% of the customers are government and 50% are large corporate. And we see basically, the demand for our products and solutions is growing quite a lot,» says Sanjay Lodha, CMD, Netweb TechCongratulations, because it has been a pretty stellar listing. Just walk us through the outlook in terms of why there was a plan to list in the capital markets, and how you are looking to utilise these funds?Yes.

27.07 / 07:01

UPS Lowe's Software SENSEX show share price Share price of Tata Elxsi jumps as Sensex drops 116.53 points

Tata Elxsi Ltd. gained 0.25 per cent to Rs 7243.55 at 12:02PM (IST) in Thursday's trade. The stock hit a high of Rs 7349.95 and low of Rs 7224.4 so far during the session.

27.07 / 02:01

Provident FIVE Software TCS show performer Will Tech Mahindra bounce back in the next quarter? Sandip Agarwal answers

«So, I will just say that there are lot of things which are happening, lot of moving parts happening, lot of leadership change and all, so obviously weak set of numbers,» says Sandip Agarwal, Independent Market Expert.I do not remember the last time we saw a margin profile of around sub-7% for Tech Mahindra. Last year or in FY21, the EBIT margin number used to be well above 16%, now 6.8.Yes, so this is obviously a very weak set of numbers and as you rightly mentioned these things happen once in a decade type and we have seen this last quarter in one of the companies and then that company bounced back substantially in the margin and so the stock price.

27.07 / 00:37

Software performer stage Together unveils new fund worth $150 million, to back opportunities in Gen AI space

Together Fund, led by Freshworks founder Girish Mathrubootham and Eka Software founder Manav Garg, has announced its second fund worth $150 million to continue backing opportunities in the Indian software-as-a-service (SaaS) and artificial intelligence (AI) space. The total corpus for Together’s Fund II is almost double that of the previous one, as it looks to make larger follow-on investments and back local disruptors in the generative AI space. It has also marked a first close of the second fund, raising the corpus from endowments and sovereign funds across the US and Asia.

26.07 / 15:29

COST Provident Digital CEO Strategy Software Align iCapital launches new portfolio construction tool

A month after launching a new digital marketplace for alternative investments, iCapital is rolling out a new tool to help advisors incorporate alts and structured products into client portfolios.

26.07 / 11:53

FIVE CEO Strategy Software Tech Mahindra Q1 Results: Headcount plunges 9% by 4,103 in June quarter

Tech Mahindra announced the June quarter results on Wednesday and reported a 13 percent IT attrition rate for Q1FY24, a 9 percent increase from 22 percent in the corresponding quarter of last year. The total headcount of staff -- including software and professionals, BPO professionals, and sales and support -- stood at 1,48,297 for the quarter ended 30 June, 2023, down 4,103 quarter-on-quarter. This was a 2.7 decline QoQ and 6.2 percent YoY.

26.07 / 10:17

Provident Google Platform Software show stage star Next-generation Googles run a tighter ship

technology companies around the world have announced total job cuts of more than 220,000 in 2023. The slump has hit younger firms hardest of all. Rising interest rates make upstarts’ promise of rich profits far in the future look less juicy in the here and now.

26.07 / 10:07

UPS Software Nissan show Latin Nissan plans $663 million investment in Renault's EV unit Ampere and says profit leapt in April-June

Nissan and Renault have redefined their French-Japanese auto alliance to establish more equal cross-shareholdings

26.07 / 06:25

UPS Target CEO Platform Software TCS IT firms must use this slump to reinvent themselves

The Q1FY24 results of the IT industry are the worst in recent times in terms of revenue growth and profits, but there's no reason to feel too downbeat. The guidance of the ‘Big Four’ – TCS, Infosys, Wipro and HCL Tech – indicates that FY24 could be a fallow period that the IT industry could use to regroup and consolidate. While things are bound to get better as global growth improves, a big rebound doesn’t seem likely in FY24.

26.07 / 04:43

Provident Man Software Metro compensation Bengaluru Metro pillar case: HC notice to K'taka govt, BMRCL on plea seeking Rs 10 cr compensation

Bengaluru Metro Rail Corporation Limited (BMRCL) and others on a petition filed by a man, who lost his wife and minor child in the Namma Metro pillar collapse incident here earlier this year, seeking compensation. Petitioner Lohitkumar V Sulakhe filed a writ petition demanding a compensation of Rs 10 crore, claiming that the accident had occurred due to the negligence of BMRCL authorities.

25.07 / 21:15

Amazon Microsoft Platform Fighting Software Gartner reports Microsoft reports $20.1B quarterly profit as it promises to lead 'the new AI platform shift'

Microsoft on Tuesday reported fiscal fourth-quarter profit of $20.1 billion, or $2.69 per share, beating analyst expectations for $2.55 per share

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