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10 companies that grabbed headlines this week

18-04-2015


1. Nokia to buy Alcatel Lucent for $16.6 billion

Nokia to buy Alcatel Lucent for $16.6 billion© Bloomberg Nokia to buy Alcatel Lucent for $16.6 billion

Nokia Oyj agreed to buy Alcatel-Lucent SA in an all-stock deal valued at €15.6 billion ($16.6 billion) to create the world’s largest supplier of equipment that powers mobile-phone networks.

Alcatel investors will receive 0.55 Nokia shares for each stock they own, Espoo, Finland-based Nokia said in a statement on Wednesday. The price is equivalent to about €4.12 based on Nokia’s closing price on Tuesday, or 8% less than Alcatel’s last close in Paris. Alcatel shares soared on Tuesday as the companies said they are in talks.

Full story here >>

1. Net neutrality debate in India: Flipkart to AIB to Zuckerberg - Who said what

Flipkart pulls out of Airtel Zero deal© Bloomberg Flipkart pulls out of Airtel Zero deal

The Net Neutrality debate is unlikely to die down anytime soon in India and continues to be a topic of interest both on social media and the mainstream news. While Flipkart, the company that faced a strong backlash for joining the Airtel Zero programme has withdrawn from it and come out in support of Net Neutrality, the debate is unlikely to die down since TRAI, India's telecom regulator, is still looking at a regulatory framework for OTT players like Skype, WhatsApp

ClearTrip, which was one of the partners in Facebook's Internet.org, withdrew from the initiative after the whole debate on Net Neutrality exploded.

We take a look at the various statements that have been made around the Net Neutrality debate in India so far >>

3. Vijay Mallya's prized jet sold, torn down to recover dues

Vijay Mallya© AP Photo/Rafiq Maqbool Vijay Mallya

Years after his pet project, Kingfisher Airlines, had to be grounded, it seems to be continuing to give liquor baron Vijay Mallya sleepless nights. 

Earlier this year, Mumbai International Airport Private Limited (MIAL) auctioned one of Mallya’s prized possessions, an 11-seater jet, which is now being taken apart for scrap.

The jet, which was once a sign of Mallya’s prosperity, was auctioned for Rs 22 lakh as part of MIAL’s bid to recover airport dues accumulated by the now-defunct Kingfisher Airlines. The buyer, Silent Enterprises, hopes to recover the amount spent on it by taking apart the aircraft and selling its various parts as scrap.

Workers have been putting in eight-hour days to take the aircraft apart at the old airport area since April 6.

More here >>

4) TCS announces Rs 2,628 crore bonus for employees

TCS announces Rs 2,628 crore bonus for employees© AP Photo TCS announces Rs 2,628 crore bonus for employees

Country's largest software services firm Tata Consultancy Services on Thursday said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore.

TCS will pay employees a Special Reward or one-time bonus to mark the 10th anniversary of the company's initial public offering in August 2004, TCS said in a statement.

For the company, the total consideration for this special reward will be Rs 2,628 crore, it added.

Globally, all employees who have completed at least one year of service will be eligible for the special bonus payment. The company had 3.18 lakh employees as of October- December, 2014 quarter.

More here >>

5. Petrol price cut by 80 paise/litre, diesel by Rs 1.30/litre

Petrol price cut by 80 paise/litre, diesel by Rs 1.30/litre© Getty Images Petrol price cut by 80 paise/litre, diesel by Rs 1.30/litre

Petrol price on Wednesday was cut by 80 paise a litre and diesel by Rs 1.30 per litre, the second reduction in rates this month.

After the cut, petrol will cost Rs 59.20 a litre in Delhi and diesel will be available Rs 47.20/litre.

Prices of petrol and diesel were last revised downwards with effect from April 2 by Rs 0.49/litre and Rs 1.21/litre respectively.

More here >>

6. How WhatsApp makes money

How WhatsApp makes money© Bloomberg How WhatsApp makes money

WhatsApp was founded in 2009 by Brian Acton and Jan Koum as an alternative to pricey SMS services. The app allows users to upload their contact book and message anyone who has the app installed at no cost. It is available for iPhones, Androids, Blackberries, Windows Phones, Nokia (NOK) phones and, most recently, desktops.

Facebook (FB) purchased WhatsApp in February 2014 for approximately $19 billion, and according to the 2014 Facebook Form 10-Q, in the nine months preceding September 30, 2014, WhatsApp generated revenue of $1,289,000. How is WhatsApp making its money?

MORE here >>

ALSO READ: WhatsApp for Android gets a new design, here's how you can get it >>

7. Ex-employee sues TCS

Ex-employee sues TCS© Reuters Ex-employee sues TCS

A former employee of Tata Consultancy Services has accused the IT services company of discriminating against American workers and favouring "South Asians" in hiring and promotion.

In a complaint filed on Tuesday in San Francisco federal court, Steven Heldt claimed that 95 percent of the 14,000 people TCS employs in the US are South Asian or mostly Indian.

This practice has created a "grossly disproportionate workforce," the complaint says.

Full story here >>

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