Mastercard will invest Rs 250 crore in India to help reboot Small Micro Enterprises (SMEs) and enable business recovery. Their dependency on the cash-economy and supply chain disruptions have made the businesses hardest hit from the Covid-19 pandemic. The company will help small businesses to grow digitally by providing low-cost acceptance solutions online and offline that are simple, safe and secure. Mastercard aims for one crore merchants in India with digital payment acceptance capabilities and adding infrastructure to carry out transactions as there are many online transactions that had done in the lockdown but of the low value. Due to pandemic, the value of transactions has decreased and the company has hit a pause button in the activities in India. Porush Singh, Division President, South Asia, Mastercard s

TCS reported a 13.8% drop in the net profit of first-fiscal quarter, April-June period against the quarter profit from a year earlier. Tata Consultancy Services has declared a net profit Rs 7,008 crore in the June quarter on Thursday, as compared to Rs 8,131 crore in the quarter ended March 31, 2020. Rajesh Gopinathan, Managing Director and CEO of TCS said, "The deal pipeline is strong amid market share gains and the recovery trajectory will be faster than what was seen during the global financial crisis". Revenue declined 6.3 per cent on a year-on-year basis to Rs 38,322 crore, in constant currency terms. TCS has reported its strongest ever quarterly order book at $ 8.9 billion in the preceding 3 months and winning deals worth of $ 6.9 billion in the June quarter which includes deals in digital infrastructure an

On Thursday, Tata Starbucks has opened its first drive-thru store in India at Dhillon Plaza, Ambala Chandigarh Expressway, Singapura in Zirakpur. Dhillon Plaza is owned by The Dhillon Group, where drive-thrus for other brands already exist had signed the partnership for a drive-thru way in late 2019 with Starbucks. Tata Starbucks Private Limited is a joint venture of Tata Global Beverages and Starbucks with 187 stores across India. Navin Gurnaney, Chief Executive Officer of Tata Starbucks said, "Tata Starbucks has had an incredible journey in India, and we are proud to have achieved yet another milestone. The opening of our first drive-thru store showcases our commitment to evolving our brand and business in India". The concept comes after the coronavirus pandemic has hit the dine-in facilities of restaurants inste

The free online coding course rolled out by Apple while beefing up its existing school coding programs with new material. The Cupertino, the California-based company, which offers coding courses under the ‘Develop in Swift’ and ‘Everyone Can Code’ banners, said the new course is designed to supplement the need for computer science educators in the United States. The new course will help instructors to build foundational knowledge that enables them to teach app development with Apple's open-source programming language Swift. ‘Everyone Can Code’ courses are aimed at beginners, while it's Develop in Swift’ programs focus on advanced coders. Apple said it is also redesigning and adding resources to these existing programs. The ‘Develop in Swift’ series will include four new books that will be availa

The company has announced that it will lease a new 60,000-square-foot (5,574 square-meter) facility in Southaven, Mississippi, near Memphis, Tennessee. Google expects the site, which will provide customer and operations support to customers worldwide, to be operational by summer 2021. ‘This Google Operations Center represents a critical investment for the company and we look forward to being an active member of the local community for years to come,’ said Troy Dickerson, vice president of Google Operations Center. ‘The new site will give us the opportunity to hire amazing local talent and we are confident that the Southaven community will be a great home for our Operations Center.’ Employees will provide customer service to Google users by handling product troubleshooting, among other tasks. The company has

India’s second-largest public sector lender Punjab National Bank (PNB) declared its Rs 3,688.58 crore exposure to mortgage financier Dewan Housing Finance Ltd (DHFL) as a fraud. 'A fraud of Rs 3,688.58 crore is being reported by the bank to RBI (Reserve Bank of India) in the accounts of the company (DHFL). Bank has already made provisions amounting to Rs 1,246.58 crore, as per prescribed prudential norms,' it said in a stock exchange filing. Once an account is declared a fraud, banks need to set aside 100 per cent of the outstanding loans as provisions, either in one go or over four quarters, according to RBI rules. To be sure, PNB is not the first bank to report a DHFL account as fraud, with the most recent being private sector lender Karnataka Bank in June. Earlier this year, the National Financial Reporti

Tesla Inc. is very close to achieving level 5 autonomous driving technology, Elon Musk, CEO, Tesla Inc. said, "I'm extremely confident that level 5 or essentially complete autonomy will happen and I think will happen very quickly". Tesla in April had already surprised investors by the performance of the new sport utility vehicle, Model Y. Only US vehicle factory in California was remained closed during the lockdown form the March end to early May. Tesla sold nearly 15,000 China-made Model 3 sedans last month and had made a solid delivery of 88,400 vehicles in the first quarter. The auto sale is also affected by a pandemic which raised the expectations to be profitable in the second quarter. Along with this, Tesla will mark four consecutive profitable quarters and as a result being added in S&P 500 index. Musk

Flipkart has announced an investment of Rs 260 crores to pick up a minority stake in Arvind Fashions recently-formed subsidiary Arvind Youth Brands which owns the Flying Machine brand. Through the investment, the Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points. ‘Flying Machine is a brand that is known in households across India, popular with the youth and synonymous with value and style,’ said Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group. ‘Through this investment, we look forward to partnering with the team at Arvind Youth Brands to continue to grow the market for its portfolio of products and enhance the strong brand equity that has been built ov