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Nov 17, 2014

Retailers hobble online as e-commerce firms race ahead

MUMBAI (Reuters) – The head of Future Group, one of India’s largest and most established retailers, admits he can’t keep up with web sites like Snapdeal and Flipkart when it comes to spending money to entice shoppers to buy online.

Private investors have poured $2.3 billion into India’s e-commerce companies so far this year, according to consulting firm Technopak, giving them financial firepower to overwhelm shoppers with bargains and deals that brick-and-mortar retailers like Future Group, which runs a host of chains including Future Retail Ltd (FURE.NS: Quote, Profile, Research) and Future Lifestyle Fashions (FLFL.NS: Quote, Profile, Research), cannot match.

Nov 17, 2014

Indian retailers hobble online as e-commerce firms race ahead

MUMBAI, Nov 18 (Reuters) – The head of Future Group, one of
India’s largest and most established retailers, admits he can’t
keep up with web sites like Snapdeal and Flipkart when it comes
to spending money to entice shoppers to buy online.

Private investors have poured $2.3 billion into India’s
e-commerce companies so far this year, according to consulting
firm Technopak, giving them financial firepower to overwhelm
shoppers with bargains and deals that brick-and-mortar retailers
like Future Group, which runs a host of chains including Future
Retail Ltd and Future Lifestyle Fashions,
cannot match.

Oct 28, 2014

Snapdeal founder eyes Alibaba playbook with funding deal

MUMBAI, Oct 28 (Reuters) – Kunal Bahl, co-founder of Indian
online marketplace Snapdeal, has come a long way from his days
as a business school student selling detergent in U.S.
supermarkets.

After final negotiations over a sushi breakfast earlier this
month, Snapdeal on Tuesday unveiled a $627 million investment
from Japan’s SoftBank, one of the high-profile early
backers — and now major shareholder — in China’s Alibaba
.

Oct 28, 2014

Japan’s SoftBank kicks off $10 bln India online spree, buys stake in Snapdeal

MUMBAI, Oct 28 (Reuters) – Japanese telecom and media group
SoftBank Corp has set its sights on Indian e-commerce
in its aggressive expansion drive, saying it will invest about
$10 billion in the booming sector as it took a strategic stake
in one of its rising stars.

Masayoshi Son, chief executive of SoftBank, laid out a
10-year investment plan for India on Tuesday, starting with the
purchase of a $627 million stake in fast-growing online
marketplace Snapdeal. Son’s global ambitions flared into public
view last year when SoftBank bought No. 3 U.S. mobile carrier
Sprint Corp for $21.6 billion.

Oct 17, 2014

TCS slumps over 8 percent, earnings miss estimates

MUMBAI (Reuters) – Tata Consultancy Services Ltd(TCS.NS: Quote, Profile, Research), India’s biggest software services exporter, posted a 13.6 percent rise in quarterly net profit, but missed analyst estimates on weakness in outsourcing demand in Latin America and in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it on course to log its worst single-day fall in nearly five-and-a-half years, in a positive Mumbai market. The stock was up 25 percent this year as of Thursday, more than the main market.

Oct 17, 2014

Tata Consultancy second-quarter earnings misses estimates; shares fall

MUMBAI (Reuters) – Tata Consultancy Services Ltd, India’s biggest software services exporter, posted a 13.6 percent rise in quarterly net profit, but missed analyst estimates on weakness in outsourcing demand in Latin America and in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it on course to log its worst single-day fall in nearly five-and-a-half years, in a positive Mumbai market. The stock was up 25 percent this year as of Thursday, more than the main market.

Oct 17, 2014

Tata Consultancy Q2 earnings misses estimates; shares fall

MUMBAI, Oct 17 (Reuters) – Tata Consultancy Services Ltd
, India’s biggest software services exporter, posted a
13.6 percent rise in quarterly net profit, but missed analyst
estimates on weakness in outsourcing demand in Latin America and
in some industrial sectors.

TCS shares fell as much as 8.5 percent on Friday, setting it
on course to log its worst single-day fall in nearly
five-and-a-half years, in a positive Mumbai market. The stock
was up 25 percent this year as of Thursday, more than the main
market.

Oct 10, 2014

Infosys posts higher-than-expected Q2 profit; keeps annual sales growth outlook

BANGALORE (Reuters) – Infosys Ltd(INFY.NS: Quote, Profile, Research) wants to revive growth through automation and artificial intelligence, its chief executive said on Friday, boosting investors’ confidence in India’s second largest IT exporter after it posted a forecast-beating quarterly profit.

Chief Executive Vishal Sikka was brought in earlier this year to chart a new strategy for Infosys, once a trendsetter for India’s more than $100 billion IT outsourcing industry but which has struggled in recent years to retain staff and market share.

Oct 10, 2014

Infosys sees future in new tech; investors cheer strategy shift

BANGALORE, Oct 10 (Reuters) – Infosys Ltd wants to
revive growth through automation and artificial intelligence,
its chief executive said on Friday, boosting investors’
confidence in India’s second largest IT exporter after it posted
a forecast-beating quarterly profit.

Chief Executive Vishal Sikka was brought in earlier this
year to chart a new strategy for Infosys, once a trendsetter for
India’s more than $100 billion IT outsourcing industry but which
has struggled in recent years to retain staff and market share.

Sep 23, 2014

Hemorrhaging talent, Infosys’ new CEO allows staff to use Twitter, Facebook

MUMBAI (Reuters) – Infosys Ltd’s new CEO has come up with a novel approach to reviving the financial fortunes of India’s trailblazing outsourcing firm: use Facebook at work, tweet, but get the job done.

Infosys has long been run as a conservative company known for keeping strict tabs on work hours and sometimes fining employees for not wearing ties on specific days. Such cheerless self-regard could not have come at a more challenging time, analysts say.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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