Harichandan's Feed
Nov 8, 2013

India’s Infosys to pay $34 million in U.S. visa case

BANGALORE/WASHINGTON (Reuters) – Tech services giant Infosys Ltd (INFY.NS: Quote, Profile, Research, Stock Buzz) agreed on Wednesday to pay $34 million to end a U.S. investigation related to the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.

The settlement, which the U.S. Justice Department said was the largest in a case of alleged civil fraud over visas, was filed in U.S. District Court for the Eastern District of Texas.

Nov 8, 2013

Infosys to pay $34 million in U.S. visa case

BANGALORE/WASHINGTON (Reuters) – Tech services giant Infosys Ltd(INFY.NS: Quote, Profile, Research) agreed on Wednesday to pay $34 million to end a U.S. investigation related to the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.

The settlement, which the U.S. Justice Department said was the largest in a case of alleged civil fraud over visas, was filed in U.S. District Court for the Eastern District of Texas.

Oct 30, 2013

Infosys to pay $34 million in U.S. visa case

BANGALORE (Reuters) – Infosys Ltd (INFY.NS: Quote, Profile, Research) said on Wednesday it has reached a $34 million settlement with U.S. authorities in a case involving the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.

The fine, which the U.S. Department of Justice said is the largest in a case of its kind, comes as U.S. lawmakers consider legislation that would make it more difficult and costly for Indian IT firms to send workers to the United States on temporary, restricted visas.

Oct 30, 2013

India’s Infosys to pay $34 million in U.S. visa case

BANGALORE, Oct 30 (Reuters) – Infosys Ltd said on
Wednesday it has reached a $34 million settlement with U.S.
authorities in a case involving the widespread practice by
Indian firms of flying workers to client sites in the United
States on temporary visas.

The fine, which the U.S. Department of Justice said is the
largest in a case of its kind, comes as U.S. lawmakers consider
legislation that would make it more difficult and costly for
Indian IT firms to send workers to the United States on
temporary, restricted visas.

Oct 29, 2013

Infosys in process of resolving U.S. visa probe

BANGALORE (Reuters) – Indian IT firm Infosys Ltd (INFY.NS: Quote, Profile, Research) said on Tuesday it was in the process of reaching a settlement with the U.S. government over the company’s alleged misuse of temporary business visas.

U.S. authorities have been investigating India’s second-largest information technology services exporter since 2011.

Oct 29, 2013

Infosys in process of resolving U.S. visa investigation

BANGALORE, Oct 29 (Reuters) – Indian IT firm Infosys Ltd
said on Tuesday it was in the process of reaching a
settlement with the U.S. government over the company’s alleged
misuse of temporary business visas.

U.S. authorities have been investigating India’s
second-largest information technology services exporter since
2011.

Oct 23, 2013

Wipro profit beats forecast, but not enough for investors

BANGALORE (Reuters) – IT services exporter Wipro Ltd(WIPR.NS: Quote, Profile, Research) posted quarterly profit which beat analyst estimates, but that was not enough for investors who sold off its stock on stronger earnings reports from rivals.

Wipro, which has restructured itself over the past two years to catch up with Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research) and others, had seen its shares rise nearly 50 percent in 2013. That was in line with a rally for a sector fuelled by improving demand for outsourcing from clients in the United States and elsewhere.

Oct 23, 2013

India’s Wipro profit beats forecast, but not enough for investors

BANGALORE (Reuters) – Indian IT services exporter Wipro Ltd (WIPR.NS: Quote, Profile, Research, Stock Buzz) posted quarterly profit which beat analyst estimates, but that was not enough for investors who sold off its stock on stronger earnings reports from rivals.

Wipro, which has restructured itself over the past two years to catch up with Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research, Stock Buzz) and others, had seen its shares rise nearly 50 percent in 2013. That was in line with a rally for a sector fuelled by improving demand for outsourcing from clients in the United States and elsewhere.

Oct 22, 2013

Wipro Q2 profit up 28.5 pct, beats estimates

BANGALORE (Reuters) – Wipro Ltd(WIPR.NS: Quote, Profile, Research), India’s third-largest IT services exporter, beat quarterly profit expectations as revenue in its core business grew at the fastest rate quarter-on-quarter in almost two years, thanks to higher spending by its biggest clients.

Wipro followed its rivals in India’s showpiece IT services industry with robust results and forecast December-quarter revenue in its main business would grow in a range of 1.8-3.6 percent in dollar terms from the previous quarter, slightly ahead of analyst forecasts for 1.5-3.5 percent growth.

Oct 22, 2013

India’s Wipro profit fuelled by recovering outsourcing demand

BANGALORE, Oct 22 (Reuters) – Wipro Ltd, India’s
third-largest IT services exporter, beat quarterly profit
expectations as revenue in its core business grew at the fastest
rate quarter-on-quarter in almost two years, thanks to higher
spending by its biggest clients.

Wipro followed its rivals in India’s showpiece IT services
industry with robust results and forecast December-quarter
revenue in its main business would grow in a range of 1.8-3.6
percent in dollar terms from the previous quarter, slightly
ahead of analyst forecasts for 1.5-3.5 percent growth.

    • About Harichandan

      "Harichandan Arakali is a technology reporter with Reuters News, covering the IT outsourcing industry and the companies that have come to define it the most. When not chasing a story that might give him the next big-picture fix on outsourcing, Hari loves long walks, taking in the vanishing acts of the trees of his adopted home, Bangalore, while listening to Rashid Khan or KT Tunstall on his BlackBerry, depending on his mood."
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