Saturday 9 July 2016

US probes brake failures on Harley-Davidson motorcycles

WASHINGTON: The US automotive safety regulator said Friday it is investigating complaints of brake failures on Harley-Davidson motorcycles that have resulted in reports of three crashes and two injuries. "Riders report sudden brake system failure occurring without warning," said the National Highway Traffic Safety Administration, which has received 43 complaints. About 430,000 motorcycles are involved in the probe, the NHTSA said. Riders complained that the front brake hand

US economy posts largest job gains in eight months in June

WASHINGTON: U.S. job growth surged in June as manufacturers and other employers boosted hiring, confirming the economy has regained speed after a first-quarter lull, but tepid wages suggested the Federal Reserve will probably not raise interest rates soon. Nonfarm payrolls increased by 287,000 jobs last month, the largest gain since last October, the Labor Department said on Friday

Post-Brexit, UK now spawns M&A Bargain Hunters

LONDON: In the wake of the country's June 23 vote to leave the European Union, the UK's stocks and currency dropped, presenting an attractive prospect to global buyers looking for cheap assets and giving local businesses an incentive to reduce their exposure at home."Many euro and dollar denominated funds are seeing the weakness of the pound delivering a gift-wrapped buying opportunity, particularly those who have been in divestment mode over the last few years," said Guy

Larsen and Toubro wants to be 'number-one' in IT business: AM Naik

NEW DELHI: Ready to list Larsen and ToubroBSE -1.43 %'s 'second baby' in the stock market with over Rs 1,200 crore IPO of L&T Infotech, the conglomerate's Group Executive Chairman A M Naik today said his aim is to make this company "number one" as he has ensured in all other businesses of the group. He also said the immediate target for L&T Infotech, whose public offer will open on Monday, is to double its revenue to $ 2 billion (nearly Rs 13,500 crore) in next three years. 
L&T Infotech Ltd is the sixth largest Indian IT services player at present with revenue of $ 887 million and an employee base of over 20,000 people. The parent L&T, a conglomerate with presence in engineering, construction, infrastructure among other businesses, is already listed with a market cap of nearly Rs 1.5 trillion, while L&T Finance Holdings got listed over five years ago and commands a market cap of about Rs 14,000 crore. 

L&T Infotech 'actively' scouting for buys in analytics, consulting

NEW DELHI: IT company L&T Infotech today said it is "activity" scouting for acquisitions to strengthen its offerings in areas such as analytics, consulting and Internet of Things. The mid-sized IT company, which will come out with over Rs 1,200-crore IPO on July 11, said it would be interested in buys in the US, Europe or even Indian market. "We are looking at the US and European markets

Rajasthan ties up with Applicate IT Solutions to help village retailers access B2B ecommerce

AHMEDABAD: The Rajasthan government has joined hands with business-to-business (B2B) ecommerce firm Applicate IT Solutions to enable 35,000 e-mitra kiosks in the state for traders and retailers to procure products directly from manufacturers. The e-mitra kiosks launched in 2011by the state government allow villagers to access government services such as licences and passport services. The kiosks are usually installed and run at shops or stores and in return traders .

Centre of excellence for IoT launched

BENGALURU: India's first Centre of Excellence for Internet of Things (CoE-IoT) was launched in BENGALURU on Thursday. The CoE was announced last year as part of the Digital India programme and has been built as a joint effort between the government of India and Nasscom, Department of Electronics & Information Technology (DeitY) and Education and Research Network (ERNET). According to Nasscom, 120 firms offer IoT solutions in India with nearly 60% of them emerging after 2010.