Business

IT Sector Presses Panic Button Over Job Reservation Act in Haryana, Threatens Exodus

With IT sector companies worried due to recent local job quota law passed by the Haryana government that seeks to reserve 75 per cent of jobs in private sector, the industry representatives have appealed to the government to reverse the law, which they claim could trigger exodus of companies. A meeting between Haryana Chief Minister […]

Business

Facebook services restored after global outage

Facebook Inc has fixed a technical issue that caused a global outage of its services after more than a million people reported problems with its photo-sharing app Instagram. The issue had also affected the company’s online messaging services Whatsapp and Messenger, with #whatsappoutage trending on Twitter in many countries, including India. A Facebook spokesperson said […]

Business

Tesla cars banned from China’s military complexes on security concerns

The Chinese military has banned Tesla cars from entering its complexes, citing security concerns over cameras installed on the vehicles, two people who have seen notices of the directive said. The move is the latest sign of China’s growing scrutiny of the U.S. electric carmaker amid tensions with Washington. Analysts said it resembled Washington’s measures […]

Business

U.S. Justice Department probing Visa over debit practices

The Justice Department is looking at Visa Inc’s debit practices, the company said on Friday, after reports the United States was investigating whether the credit card company uses anticompetitive practices in the debit-card market. “The U.S. Department of Justice has informed Visa of its plans to open an investigation into Visa’s U.S. debit practices,” the […]

Business

Wall Street ends mixed as Treasury yields pause

The Nasdaq ended higher on Friday, lifted by Facebook and energy shares, while the S&P 500 lost ground as U.S. Treasury yields took a break from a recent surge. Reversing a recent trend, so-called growth stocks mostly outperformed value stocks viewed as likely to benefit most as the economy recovers from the coronavirus pandemic. The […]

Business

The U.S. securities regulator’s forays into climate change enforcement

The U.S. Securities and Exchange Commission (SEC) has created a task force to police statements made by companies and fund managers about climate-related risks. While the concerted push is a first for the agency, it has in the past pursued a handful of climate-change related enforcement actions, with mixed success. BP PLCThe oil giant in […]

Business

Samsung’s Lee receives appendix surgery during detention

Samsung Electronics vice chairman Jay Y. Lee, detained for a two and a half-year sentence of bribery and other charges since January, received emergency surgery for a burst appendix late on Friday, Yonhap news agency said on Saturday. Lee, 52, was transported from the Seoul Detention Center, where he was jailed, to Samsung Medical Center […]