Infosys will comply with arbitration award, to pay Bansal over Rs 12 cr

Infosys on Tuesday said it will comply with the arbitration award asking the company to pay Rs 12.17 crore and interest to its former chief financial officer (CFO) Rajiv Bansal.

In September, the Arbitral Tribunal of justice (retd) RV Raveendran had communicated the decision with regard to the dispute between Infosys and Bansal, Infosys said in a regulatory filing. “The company has received a legal advice and will comply with the award and make the necessary payments,” it added.

Amazon disapproves Flipkart’s festive sale market share claims

After engaging in cutthroat competition during the online festive season sales, market share claims have now become a point of disagreement between the biggies in the e-commerce space. Flipkart has made claims of grabbing 70 per cent share of the online festive season sales. Amazon, however, doesn’t not approve this huge claim.

Microsoft co-founder Paul Allen dies at 65

Paul Allen, who co-founded Microsoft Corp wi-th fellow billio-naire Bill Gates and used the f-ortune he made from the i-conic technology company to invest in professional sp-orts teams, cable TV and re-al estate, has died.

It's a job-seeker's market as companies embrace Artificial Intelligence

Dozens of employers looking to hire the next generation of tech employees descended on the University of California, Berkeley in September to meet students at an electrical engineering and computer science career fair.

Boris Yue, 20, was one of thousands of student attendees, threading his way among fellow job-seekers to meet recruiters. But Yue wasn’t worried about so much potential competition. 

E-retailers burn $500m in discounts, rake in $2.3b in sales

E-commerce players sold goods worth $2.3 billion (Rs 15,000 crore) during the festival sales that ended on Monday. They burnt $500 million on discounts and cash-back offers during the past five days.

The October festival season sales grew by 64 per cent to $2.3 billion from $1.4 billion last year, according to an initial estimate done by RedSeer Consulting. The sales growth last year was 43 per cent.

Forget robots, capitalism is the future

“Capitalism in America: A History” tells a great story at pace. Its 450-odd pages are packed with observations about entrepreneurs, organized corporations, ro-bber barons; the benefits businesses can bring societies and their owners and how governments interact with companies. Former Federal Reserve chairman Alan Greenspan and Adrian Wooldridge of The Economist have penned a lively yarn, replete with quirky and breathtaking details.

Russian rocket fails in mid-air, two-man crew lands safely

The two-man US-Russian crew of a Soyuz spacecraft taking them to the orbiting International Space Station had to make a dramatic emergency landing in Kazakhstan on Thursday when a rocket failed in mid-air.

US astronaut Nick Hague and Russian cosmonaut Alexei Ovchinin (pic inset) landed safely without harm and rescue crews who raced to locate them on the Kazakh steppe quickly linked up with them, NASA, the US space agency, and Russia’s Roscosmos said.

Digital bloodbath may lead to more IT layoffs

The Indian tech sector has already started reporting a large number of casualties at senior level due to digital mainstreaming. Worse, more job losses are on the anvil. Top HR sources say many league players are expected to join Cognizant and announce mass exits of senior talent in the next couple of quarters.

AI phone to text, mail people following voice commands

Essential Products Inc., the consumer electronics startup run by Android creator Andy Rubin, is putting most projects aside to focus on development of a new kind of phone that will try to mimic the user and automatically respond to messages on their behalf, according to people familiar with the plans.

The company paused development of a planned home speaker, months after canceling a different smartphone that had been in the works, said the people, who asked not to be identified because the details are private.