BREAKING NEWS: Business (2)

Cellcom cuts infrastructure investment 25%

Tue, 16 Jul 2019 19:00:25 +0000

The Israeli telecom opewrator is pinning its hopes on lower costs as a result of its new fiber-optic infrastructure.

Tue: Leumi leads market lower

Tue, 16 Jul 2019 18:56:25 +0000

Leumi and Delek led the declines today while Teva bucked the market.

1215 more homes approved for Netanya's Neve Oz

Tue, 16 Jul 2019 18:07:11 +0000

1,960 housing units will be built in the neighborhood, including 243 small apartments and assisted living facilities for 300 residents.

Israeli cancer treatment co P-Cure raises $15m

Tue, 16 Jul 2019 17:36:45 +0000

P-Cure CEO: "Completion of the financing round will enable us to make the smart medical solution we have developed accessible to any oncological center that offers radiotherapy.

Eilat vacation prices fall sharply

Tue, 16 Jul 2019 16:44:15 +0000

Prices are projected to rise in August, especially in the last two weeks of the month.

Cork seafood firm wins €500k supply contract for Lidl in Spain and Portugal

Tue, 16 Jul 2019 16:43:00 +0000

A Castletownbere seafood producer has landed an international supply contract, worth more than €500,000 with supermarket chain Lidl.

IMF managing director Christine Lagarde resigns

Tue, 16 Jul 2019 16:38:00 +0000

The process to appoint a successor will now begin.

Tourism body claim 13-storey apartment block 'will compromise Guinness storehouse experience'

Tue, 16 Jul 2019 16:35:00 +0000

The towers planned for the Liberties area near the Guinness brewery are to house the apartments as well as shops, restaurants, medical facilities, co-working spaces and a creche.

Full text | Azim Premji#39;s address at Wipro#39;s 73rd AGM

Tue, 16 Jul 2019 16:31:58 +0000

The outgoing chairman, who is set to step down on July 31, laid out the focus of Wipro in the coming years.

U.S. fears Iran seized UAE-based tanker in Strait of Hormuz

Tue, 16 Jul 2019 16:30:18 +0000

A small oil tanker from the United Arab Emirates travelling through the Strait of Hormuz entered Iranian waters and turned off its tracker two days ago, leading the U.S. to suspect Iran seized the vessel amid heightened tensions in the region, an American defence official said Tuesday.

India needs to tap into foreign capital to trigger investment and growth: CEA Subramanian

Tue, 16 Jul 2019 16:20:44 +0000

He also said that although the goal is a bit of a stretch, achieving $5 trillion economy by 2024-25 is possible.

Reuters hires Timmons as economics editor

Tue, 16 Jul 2019 16:13:20 +0000

Dan Burns and Kieran Muray of Reuters sent out the following announcement: We’re delighted to announce that Heather Timmons is joining Reuters as our Economics Editor in Washington. Heather will lead our economics team...

The post Reuters hires Timmons as economics editor appeared first on Talking Biz News.

Suzlon defaults on $172 mn bond payments, says working to resolve crisis

Tue, 16 Jul 2019 16:09:04 +0000

The outstanding principal amount of $172 million was part of a bond issue of $546.91 million

CNBC makes promotions across business day programming

Tue, 16 Jul 2019 16:06:03 +0000

Craig Bengtson, vice president of CNBC Business News Programming, sent out the following announcement on Tuesday: In recent months, CNBC Business Day has created a successful, reporter-focused program, “The Exchange,” and invested in new...

The post CNBC makes promotions across business day programming appeared first on Talking Biz News.

Bad bosses can't hide behind labour hire

Tue, 16 Jul 2019 16:00:00 +0000

OPINION: Did you know you might be employed within a triangle?

IndiGo's Gangwal says won't sell stake amid feud with partner Rahul Bhatia

Tue, 16 Jul 2019 15:55:17 +0000

Gangwal, teamed up with Bhatia -- a former airline sales agent -- to create IndiGo in 2005, which quickly outpaced rivals to control almost half of the local market

MCX net surges to Rs 43.70 cr

Tue, 16 Jul 2019 15:55:06 +0000

The average daily turnover on the exchange at Rs 27,473 crore, up 12.8 percent, it said July 16.

Future of Wipro will outshine everything done so far: Azim Premji

Tue, 16 Jul 2019 15:53:54 +0000

Premji reminisced Wipro's journey from a small vegetable oil company to a leading information technology company

American envoy to Japan will resign this month for Senate run

Tue, 16 Jul 2019 15:53:10 +0000

JD Wetherspoon buys Carbon nightclub in Galway city

Tue, 16 Jul 2019 15:51:35 +0000

Company plans to invest €2.5m transforming nightclub into pub

View from Gravity bar hindered by proposed apartments, tourism body warns

Tue, 16 Jul 2019 15:38:29 +0000

Irish Tourism boss says Marlet’s proposed apartment blocks will compromise the visitor experience at Guinness Storehouse

NMDC issues termination notice to BHEL for delaying Rs 1,395-cr RMHS order

Tue, 16 Jul 2019 15:36:06 +0000

On June 26, NMDC issued a notice to engineering firm BHEL invoking termination clause, seeking reply from the engineering firm, as the latter has not been able to complete a Rs 1,395-crore contract awarded to it in 2011, whose completion date was February 28, 2014.

DTI: Registered MSMEs now at 1.5 million

Tue, 16 Jul 2019 15:35:12 +0000

The Philippine trade department boasts of government's efforts to boost the micro, small, and medium enterprises.

Lagarde formally resigns from IMF ahead of likely ECB posting

Tue, 16 Jul 2019 15:34:49 +0000

Managing director says she stepped down to hasten appointment of successor

Flipkart Big Shopping Days Sale 2019: Deals on Realme 3 Pro, Google Pixel 3, Apple MacBook Air and others

Tue, 16 Jul 2019 15:34:05 +0000

The four-day online carnival is bundled up with huge discounts on smartphones, laptops, televisions and appliances, fashion accessories, clothing and many more.

Chinese, other foreign workers expected to get jobs in Cavite Pogo hub

Tue, 16 Jul 2019 15:30:35 +0000

Local residents cry foul as Chinese and other foreign workers are seen to get most of the job opportunities in the online gaming hub being built in Cavite.

House of Ireland repudiates lease for unit in redeveloped shopping centre in Dublin

Tue, 16 Jul 2019 15:28:53 +0000

Gift and lifestyle store, House of Ireland, has repudiated a lease to operate from the redeveloped Frascati Shopping Centre in Blackrock, Co. Dublin, in a row over a works compound for 45 apartments at the centre, it has been claimed in High Court proceedings.

Christine Lagarde resigns as IMF chief, cites more clarity on ECB post

Tue, 16 Jul 2019 15:28:04 +0000

Lagarde said in a statement her resignation was effective September 12, opening the way for the IMF to choose its next leader.

'China slowdown not problem for PH'

Tue, 16 Jul 2019 15:26:45 +0000

An international report shows Beijing's debt has exceeded over 300 percent of its gross domestic product.

Israel Q1 growth revised upwards

Tue, 16 Jul 2019 15:26:41 +0000

The Central Bureau of Statistics has raised the annualized growth estimate for the first quarter from 4.8% to 5%.

PH shares pull back after entering bull market territory

Tue, 16 Jul 2019 15:24:08 +0000

The risk-off sentiment is felt here at home as Philippine shares fall victim to profit-taking just a day after scaling the bull market territory.

Singapore virtual banks to service Asia's unbanked millions

Tue, 16 Jul 2019 15:22:46 +0000

IBM lands AT&T contract worth ‘billions’

Tue, 16 Jul 2019 15:16:19 +0000

Chief executive Ginni Rometty says it is vindication of the value of recently acquired group Red Hat

Jet Airways lenders set to invite EoI from investors

Tue, 16 Jul 2019 15:11:51 +0000

"The notice for expression of interest could be sent out by end of this week, or early next," said an executive from the industry.

NSE to exclude DHFL shares from equity derivatives segment from Sept 27

Tue, 16 Jul 2019 15:07:56 +0000

On July 13, the debt-ridden firm had posted its biggest-ever quarterly loss of Rs 2,224 crore for the fourth quarter ended March 31

Altshuler Provident Funds begins successful IPO

Tue, 16 Jul 2019 14:58:06 +0000

The NIS 5.90 share price in the IPO reflects a NIS 1.13 billion company value.

Goldman Sachs profit beats expectations on equity trading and lending

Tue, 16 Jul 2019 14:57:15 +0000

The bank’s fixed income desk posted another revenue decline

DCB Bank net profit rises 17% to Rs 81 cr in June quarter

Tue, 16 Jul 2019 14:57:05 +0000

DCB Bank said its net advances as on June 30 rose to Rs 24,044 crore, up by 13 per cent from Rs 21,243 crore in the year-ago quarter.

Suzlon defaults on bond payments of $172 mn

Tue, 16 Jul 2019 14:48:06 +0000

The outstanding principal amount of $172 million was part of a bond issue of $546.91 million.

Trump says he wants review of Google's ties to China

Tue, 16 Jul 2019 14:45:00 +0000

Trump echoed an unsubstantiated remark from tech billionaire Peter Thiel that Google had been working with China's government or military establishment.

Tech Firms To Face Lawmakers Over Antitrust, Digital Currency

Tue, 16 Jul 2019 14:42:25 +0000

Lawmakers in the Senate and House will question lobbyists and officials from Facebook, Google, Amazon and Apple on an array of issues, including whether they're so big they stifle competition.

(Image credit: Reuters)

Carbon Copy + Paste

Tue, 16 Jul 2019 14:38:07 +0000

Carbon is a Redwood City, CA-based 3D printing unicorn that recently raised $260 million at a $2.4 billion valuation. CMO Dara Treseder told me the funding will “pave the way for the global expansion of our platform.”

The platform: Carbon uses software, 3D printers, resin, and a special UV light to convert digital files into flesh-world goods. Customers subscribe to the platform, which includes digital manufacturing software and on-site printers, and buy resin on a pay-as-they-go basis.

What have Carbon printers created?

Ford car parts, custom Riddell helmet liners for NFL players, and midsoles for Adidas’s Alphaedge 4D running shoes. Treseder said the last is the “largest application of an end-use 3D printed product, ever.”

Zoom out: 3D printing could enable more product customization and reduce the need for extra inventory. The challenge that will come with scale is maintaining high-volume production.

+ Fun fact: Carbon is currently partnered with Karlie Kloss’s coding camp for teenage girls. Treseder says the company wants to showcase what you can do—and create—with a STEM degree.

The post Carbon Copy + Paste appeared first on Morning Brew.

Ford’s Future

Tue, 16 Jul 2019 14:37:27 +0000

As Ford’s CTO, Ken Washington oversees the legacy carmaker’s quest to build vehicles that are connected, electric, packed with advanced hardware, controlled by software, and—eventually—autonomous. Washington gave me his take on putting machines behind the wheel for the first time in Ford’s 166-year history.

Hype: Washington didn’t single out competitors but said early industry autonomy projections were overblown. “This is a really hard problem. We’re going to take our time to get this right and make a business out of it.”

Levels: Ford was initially shooting for just a Level 4 product, but it’s now “working on a Level 3 solution with a number of partners and suppliers…It’s a top priority for us.” Translation: A Ford car with Tesla Autopilot/GM Cruise-like features is coming soon.

Tech: “Costs are coming down, riding on the back of consumer products manufactured and sold at scale.” That includes advanced sensor sets, cameras, and task-specific chips.

Washington also said there’s been “faster-than-anticipated acceleration of really great machine learning.”

Industry: Building a true self-driving platform costs “more than any one company can bear on its own.” Maybe that’s why the day after our interview, VW announced it’s investing $2.6 billion in Argo AI, Ford’s self-driving partner. After all, teaming up on autonomous plays is the auto trend these days.

The post Ford’s Future appeared first on Morning Brew.

All Aboard the VR/AR Train, Business Class

Tue, 16 Jul 2019 14:37:09 +0000

Though augmented and virtual (AR/VR) companies may be disappointed with consumers’ sluggish adoption of the tech, they’ve found enthusiastic customers in enterprises.

Take the U.S.’s biggest private sector employer, Walmart. As WaPo reports, the company is using VR to find its next middle managers by testing how interviewees handle simulated everyday interactions, from angry customers to yodeling kids. The retailer started experimenting with the technology last year, has since deployed at least 17,000 headsets, and clearly believes a hard VR embrace = better employee soft skills.

This isn’t a one-off case study: Renault, BAE Systems, Intel, and Airbus use VR/AR for training. The NYPD is preparing cops for active shooter situations using VR. And the U.S. Army has awarded Microsoft a $480 million contract to supply it with up to 100,000 HoloLens AR headsets.

Bottom line: With deeper pockets and clearer use cases, the Suits (and Uniforms) are paying a premium for higher-end VR/AR gear…and buying in bulk.

The post All Aboard the VR/AR Train, Business Class appeared first on Morning Brew.

Not Too Big to Techlash

Tue, 16 Jul 2019 14:36:41 +0000

Whether it’s deploying new technologies or diving into new lines of business, Big Tech has historically embraced a “do now, ask questions later” mentality. But the bloc’s behemoth market size and ballooning number of haters are finally catching up to it.

Voicing concerns

To train an AI-powered voice assistant, you need an army of humans with ears and fingers who listen to captured voice clips and transcribe them. The catch: This process is opaque and involves heady questions of user consent, privacy, data security, and ghost work.

Amazon recently admitted it doesn’t delete stored data captured through Alexa interactions.
Google’s taking flak for a recent leak of 1,000 Assistant transcriptions. Though the transcripts are anonymized, it’s easy to personally identify specific individuals…and some of the clips were apparently recorded without being triggered by the command, “OK Google.”

Crypto-catastrophe

Libra, FB’s big splash into payments, has leaders worried it’s a big bank take lil’ bank moment. President Trump, Fed Chair Jerome Powell, and Treasury Secretary Steven Mnuchin all have reservations about Libra. Meanwhile, House Democrats have drafted a bill called “Keep Big Tech Out Of Finance Act.” Shhh…nobody tell them.

An automation a day won’t keep the angst away

On Prime Day 2, don’t forget just how much of Amazon’s e-commerce empire runs on automation: AI is the company’s “foundation,” according to one exec. Amazon uses >200,000 robots, and there’s more mechanization in store, from new robo-warehouse helpers to drones.

But…warehouse employees aren’t feeling automation’s aura, and some are even striking over poor workplace conditions. To offset automation’s disruptive effects on labor, Amazon recently announced a $700 million commitment to reskill a third of its U.S. workforce.

Bottom line: In 2009, banking’s “too big to fail” house of cards fell down. In 2019, tech’s “too big to stop” playbook is pushing the boundaries with governments, the media, and even employees. +

While we’re here: Big Tech is in the antitrust hot seat today. I made a drinking game…play at your own peril.

The post Not Too Big to Techlash appeared first on Morning Brew.

Talking Biz News Today – July 16, 2019

Tue, 16 Jul 2019 14:34:45 +0000

Some of Tuesday’s top business stories: CNBC: Trump: We ‘will take a look’ into Peter Thiel’s claims of Google working with China, by Todd Haselton This new business from Amazon represents a ‘$100 billion...

The post Talking Biz News Today – July 16, 2019 appeared first on Talking Biz News.

JetLite employees plan to move NCLT for inclusion of their dues in Jet case

Tue, 16 Jul 2019 14:34:41 +0000

Cash-starved Jet Airways, which shuttered operations on April 17, is undergoing insolvency proceedings after a SBI-led consortium of lenders moved the NCLT to recover their dues

NTPC commissions first unit of Nabinagar plant; installed capacity reaches 55,786 MW

Tue, 16 Jul 2019 14:33:06 +0000

Nabinagar Power Generating Company, NTPC said, is a 50:50 joint venture between NTPC and Bihar State Power Holding Company Limited.

Sebi provides new format for compliance report on corporate governance

Tue, 16 Jul 2019 14:24:06 +0000

The regulator, in September 2015, had asked listed companies to submit compliance report on corporate governance in a prescribed format with disclosures pertaining to composition of board of directors as well as the committees and their respective meetings, among others.

Domestic medical device makers raise pitch for duty hikes on imports

Tue, 16 Jul 2019 14:20:19 +0000

At present, India imposes 0-7.5 percent import duty on medical devices. In addition to import duty, importers pay 12 percent GST, but they are eligible for input tax credit.