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Amazon India set free by Karnataka government on tax issue

By on October 22, 2014 at 4:06 PM.

Amazon India set free by Karnataka government on tax issue

Recently Amazon India faced heat from Karnataka authorities who sought to impose value added tax on the products it sold. But, in a new development, after the US embassy wrote to the finance ministry highlighting the problem faced by the e-commerce giant, the state government soon got into damage-control mode and put on hold the cancellation of branch certificates of about 50 Amazon vendors, ET reports.  More →
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Xiaomi could soon start manufacturing phones in India

By on October 22, 2014 at 2:59 PM.

Xiaomi could soon start manufacturing phones in India

Chinese mobile company Xiaomi could soon start manufacturing phones in India. The company which recently brought its last year’s flagship Mi 3 and Redmi 1S in the country has hired legal advisers to understand the regulatory aspects of manufacturing in India, Xiaomi's India head Manu Jain told Wall Street Journal. More →
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Flipkart to buy stake in after-sales service provider Jeeves for its own home appliances brand: Report

By on October 22, 2014 at 11:37 AM.

Flipkart to buy stake in after-sales service provider Jeeves for its own home appliances brand: Report

In a new development, Flipkart is underway to buy a large stake in after-sales service provider Jeeves Consumer Service Pvt Ltd. According to a Livemint report, this move comes as the company plans to launch its private brands in home appliances such as televisions and refrigerators as well as electronics. More →
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Apple Q4 2014 earnings: 39.3 million iPhones, 12.3 million iPads, and 5.5 million Macs sold

By on October 21, 2014 at 1:29 PM.

Apple Q4 2014 earnings: 39.3 million iPhones, 12.3 million iPads, and 5.5 million Macs sold

Apple announced its Q4 2014 earnings last night, and it has crushed all the estimates. The Cupertino-giant posted quarterly revenues of $42.12 billion and profit of $8.5 billion. This is up from revenues of $37.5 billion and a net profit of $7.5 billion, Apple posted in the fourth quarter of last year. More →
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Report shows how Flipkart, Amazon and Snapdeal sell products at lower prices

By on October 21, 2014 at 1:09 PM.

Report shows how Flipkart, Amazon and Snapdeal sell products at lower prices

Ever wondered how you managed to get such low discounts online that were impossible to get in physical retail stores? A report in Livemintsheds light on how Amazon, Flipkart and Snapdeal manage to sell products on low prices. Reportedly, the three e-commerce sites, due to the Indian laws in place, operate as a marketplace because direct retail is banned. Therefore, ideally they are not allowed to exercise control on the pricing as that is the job of the seller. But citing sources who have knowledge on the matter, the report states that Amazon and Snapdeal do actually have a significant say in deciding product prices as all the three sites finance part and, in some cases, the full amount of discounts offered by sellers albeit in an indirect manner. More →
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Microsoft CEO Satya Nadella gets $84 million pay package

By on October 21, 2014 at 11:43 AM.

Microsoft CEO Satya Nadella gets $84 million pay package

Microsoft CEO Satya Nadella earned $84.3 million this year, according to the salary details coming days after the India-born chief executive was criticized for suggesting that women should not ask for pay raises but trust their "good karma" to get their dues. More →
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No probe into Flipkart’s ‘Big Billion Day’ sale: Commerce Minister Sitharaman

By on October 21, 2014 at 11:34 AM.

No probe into Flipkart’s ‘Big Billion Day’ sale: Commerce Minister Sitharaman

Union Commerce and Industries Minister Nirmala Sitharaman today said there was no inquiry into complaints against e-commerce giant Flipkart of predatory prices of goods and unfair trade practices during its recent “Big Billion Day” sale. More →
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IBM to pay $1.5 billion to GlobalFoundries to buy its chip division

By on October 20, 2014 at 6:18 PM.

IBM to pay $1.5 billion to GlobalFoundries to buy its chip division

IBM will pay $1.5 billion to GlobalFoundries in order to shed its costly chip division. IBM will make payments to the chipmaker over three years, but it took a $4.7 billion charge for the third quarter when it reported earnings today. The company fell short of Wall Street profit expectations and revenue slid four percent, sending shares down eight percent before the opening bell. More →
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Idea Cellular Q2 Net jumps 68.8 percent to Rs 755.88 crore

By on October 20, 2014 at 5:33 PM.

Idea Cellular Q2 Net jumps 68.8 percent to Rs 755.88 crore

Telecom services major Idea Cellular today posted 68.8 percent jump in consolidated net profit at Rs 755.88 crore for the quarter ended September 30, 2014. This is against a net profit of Rs 447.61 crore in the corresponding period last year. More →
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