Name: HCL Tech could face backlash from Purdue Pharma news : reports
Uploaded: 2019-08-30T13:38:01.0+05:30
Duration: T00M21S
Channel: editorji
Description: HCL Tech could be facing some negative news pushback. Purdue Pharma, which is being primarily blamed for the opioid epidemic and is in settlement talks in the US, is expected to pay as much as $12 billion and file for bankruptcy. The development could hurt HCL Technologies as it is the IT service vendor to the pharma company.

HCL Tech could be facing some negative news pushback. Purdue Pharma, which is being primarily blamed for the opioid epidemic and is in settlement talks in the US, is ex

HCL Tech could face backlash from Purdue Pharma news : reports

HCL&nbsp;Tech could be facing some negative news pushback. Purdue Pharma, which is being primarily blamed for the opioid epidemic and is in settlement talks in the US, is expected to pay as much as $12 billion and file for bankruptcy. The development could hurt HCL Technologies as it is the IT service vendor to the pharma company.

HCL Tech could face backlash from Purdue Pharma news : reports 

Jio will collaborate with Google on a made-for-india affordable smartphone called the JioPhone Next.

Jio will collaborate with Google on a made-for-india affordable smartphone called the JioPhone Next.

Google, Jio to collaborate on made-for-India JioPhone Next smartphone

Jio will collaborate with Google on a made-for-india affordable smartphone called the JioPhone Next, Mukesh Ambani announced at the Reliance Annual General Meeting 2021.
SundarPichai, CEO of Google&rsquo;s parent company Alphabet, also addressed the meeting and mentioned that the software will be specially optimised for India, with features like live translation, and a smart camera.
The price of the smartphone was not revealed, but Mukesh Ambani spoke about the need for an affordable 4G smartphone. The JioPhone Next will be released on September 10.

Reliance shareholders got a surprise visit from Google Chief Sundar Pichai at RIL's 44th AGM as Mukesh Ambani announced the much awaited Google-Jio

Reliance shareholders got a surprise visit from Google Chief Sundar&nbsp;Pichai at RIL's 44th AGM as Mukesh&nbsp;Ambani&nbsp;announced the much awaited Google-Jio&nbsp;phone&nbsp;christened JioPhone&nbsp;Next which will be available from September 10 at a shop near you.&nbsp; But the connect with Google is going beyond the phone, addressing the RIL&nbsp;AGM&nbsp;Sundar&nbsp;Pichai&nbsp;announced a new 5G partnership between Google Cloud and Jio. Pichai&nbsp;said "This Jio&nbsp;partnership will help more than a billion Indians connect to a faster internet, support businesses in digital transformation and lay foundation for next phase of India&rsquo;s digitization." Mukesh&nbsp;Ambani&nbsp;reiterated Jio's commitment to affordable internet&nbsp;for all which he said can be done only "when&nbsp;India becomes 4G mukt&nbsp;and 5G rich".

RIL-Google Connect, phone launch and cloud connection announced by Ambani, Pichai

HCL Tech could be facing some negative news pushback. Purdue Pharma, which is being primarily blamed for the opioid epidemic and is in settlement talks in the US, is expected to pay as much as $12 billion and file for bankruptcy. The development could hurt HCL Technologies as it is the IT service vendor to the pharma company.

In a move that RIL shareholders were anticipating Mukesh Ambani assured investors at the AGM that the with global oil giant Aramco will be finalised within th

In a move that RIL shareholders were anticipating Mukesh Ambani assured investors at the AGM&nbsp;that the deal with global oil giant Aramco&nbsp;will be finalised within this year. To showcase this commitment of partnership Reliance also inducted on the RIL&nbsp;board&nbsp;Yasir Al-Rumayyan, chairman of Saudi Aramco and governor of the kingdom&rsquo;s wealth fund Public Investment Fund. RIL chairman Mukesh Ambani had announced selling company&rsquo;s 20% stake in the oil-to-chemicals (O2C) business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to Aramco during the 2019 AGM, but the deal could not move forward due to multiple reasons.

RIL's 44th AGM had the full star cast from the Reliance Group from Mukesh Ambani, Nita Ambani and next gen leaders Isha and Akash Ambani w

RIL's&nbsp;44th AGM&nbsp;had the full star cast from the Reliance Group from Mukesh&nbsp;Ambani, Nita Ambani&nbsp;and next gen&nbsp;leaders Isha and Akash Ambani&nbsp;with the added bonus from Google Chief Sundar&nbsp;Pichai making a pit stop as well. Big announcements were expected and delivered here are the top 5-:
<ul>
<li>JioPhone&nbsp;Next: In an effort to make the country 2G-mukt, Mukesh&nbsp;Ambani&nbsp;finally announced that&nbsp;the much awaited affordable smartphone&nbsp;developed by Google and Jio&nbsp;will be available as early as September 10.&nbsp;Reliance also extends it's partnership with Google for 5G solutions over Google's cloud biz</li>
<li>New Energy Biz: With a promise to transform the legacy business into a net-zero carbon company, Mukesh&nbsp;Ambani&nbsp;launched Dhirubhai Green Energy Giga Complex in Jamnagar with an investment commitment of Rs 75,000 cr over 5 years. RIL's&nbsp;aim to shift to green energy that is as Ambani&nbsp;said "Made in India, By India and For India."</li>
<li>Aramco&nbsp;Deal: Better late than never, two years after the announcement the promise of 20% stake sale to Aramco&nbsp;will be done this year said Mukesh&nbsp;Ambani. Along with the $15 billion deal Aramco&nbsp;also got a seat at the table&nbsp;Yasir Al Rumayyan, Chairman of the oil giant will join RIL's&nbsp;board.&nbsp;</li>
<li>Jio&nbsp;Institute: Despite the pandemic delays Jio&nbsp;Institute will open it's campus in Navi&nbsp;Mumbai to students&nbsp;this year itself announced Reliance Foundation chairperson Nita Ambani.&nbsp;</li>
<li>Jio&nbsp;Vaccine Booster: In a bid to promote vaccine for all Nita Ambani&nbsp;announced that the Jio&nbsp;Health Hub will be opened for all to register and expedite the mass vaccine drive across the country.&nbsp;</li>
</ul>

The government announced liberalisation of guidelines for BPOs, a move would position India as a strong global destination for voice BPOs. The new rules

The government announced liberalisation of guidelines for&nbsp;BPOs, a&nbsp;move would position India as a strong global destination for voice BPOs. The new rules&nbsp;would allow companies, say an airlines with a voice based centre in India, to now serve global and domestic customers with common telecom resources, something that required dedicated, separate infrastructure previously. The restrictions on data interconnectivity between any BPO centre of same company, a group company or any unrelated company has been done away with, opening up prospects and allowing better resource management for BPOs.
The norms have also been substantially eased for remote call centre agents in any location, to connect with customers using any technology including broadband over wirelines and wireless.
&ldquo;In order to encourage our BPO industry, OSP guidelines that were liberalised in November 2020 have been simplified even further, offering greater ease of business and regulatory clarity," Prime Minister Modi tweeted.&ldquo;This will further reduce compliance burden and help our tech industry," he said. The guideline is revolutionary in nature that'll make India a very favourable destination for expansion of voice-related BPO centres, stated Minister for Communications RS Prasad

Antivirus software company founder John McAfee was found dead of a suspected suicide in his prison cell in Barcelona, Spain shortly after the court approved his e

Antivirus software company founder John McAfee was found dead of a suspected suicide in his prison cell in Barcelona, Spain&nbsp; shortly after the court approved his extradition to the United States to face criminal tax evasion charges. McAfee, 75,&nbsp;was arrested last October at the international airport in Barcelona&nbsp;on the tax evasion charges filed in the US which carry a maximum possible sentence of 30 years in prison. The charge was of failure to pay taxes from 2014 to 2018 despite considerable income from&nbsp;promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary alleged the&nbsp;U.S. Justice Department in it's charges in October.&nbsp;
On Oct. 15, after being taken into custody, McAfee tweeted: &nbsp;&ldquo;I am content in here. I have friends.The food is good. All is well. Know that if I hang myself, a la Epstein, it will be no fault of mine,&rdquo;&nbsp; McAfee&rsquo;s death in custody is a d&eacute;j&agrave;&nbsp;vu of Jeffrey Epstein, the accused child sex trafficker and multimillionaire investor who died in a federal jail in Manhattan in August 2019 from what officials have said was a suicide by hanging.

Warren Buffett is resigning as a trustee from the Bill and Melinda Gates Foundation. The announcement comes weeks after Bill and Melinda Gates announced that they were

Warren Buffett is resigning as a trustee from the Bill and Melinda Gates Foundation.
The announcement comes weeks after Bill and Melinda Gates announced that they were divorcing after 27 years of marriage but would continue to jointly run the foundation, one of the largest charitable foundations in the world.
Gates was formerly the world's richest person and his fortune is estimated at well over USD 100 billion.
Buffet gave no reason for stepping down from the Gates Foundation, but questions have been raised about the structure of its leadership after reports of Bill Gates' behavior in the workplace.

Wanted diamond merchant Nirav Modi, whose extradition to India was ordered by UK Home Secretary Priti Patel, has lost the first stage of his extradition appea

Wanted diamond merchant Nirav Modi, whose extradition to India was ordered by&nbsp;UK&nbsp;Home Secretary Priti Patel, has lost the first stage of his extradition appeal in the High Court in London.
The appeal was before a High Court judge for a decision &ldquo;on the papers&rdquo; submitted to determine if there are any grounds for an appeal against the Home Secretary's decision.
The permission to appeal was 'rejected on paper' on Tuesday, which leaves the 50-year-old jeweller with a chance to make his case at a brief oral hearing in the High Court.
Under the legal guidelines,&nbsp;Nirav Modi&nbsp;as an appellant has five business days to apply for such an oral consideration, giving him time until next week.

HDFC Life has announced a ₹2,180 crore bonus on its participating plans. Under a participating plan, a policyholder is eligible to get a share in the profits of co

HDFC Life has announced a ₹2,180 crore bonus on its participating plans.&nbsp;Under a participating plan, a policyholder is eligible to get a share in the profits of company in the form of bonus. The bonus of&nbsp;₹2180 crore was announced in the company&rsquo;s board meeting held in April 2021. It exceeds the previous year&rsquo;s bonus by 44%. 15.49 lakh policyholders are eligible for this bonus.
&nbsp;

The Enforcement Directorate (ED) has transferred over ₹9,000 crore worth seized assets of fugitive businessmen Vijay Mallya, Mehul Choksi and Nirav Modi&

The Enforcement Directorate (ED) has transferred over ₹9,000&nbsp;crore&nbsp;worth seized assets of fugitive businessmen&nbsp;Vijay Mallya, Mehul Choksi and Nirav Modi&nbsp;to public sector banks.
As per a tweet by the ED on Wednesday, total&nbsp;seized assets amount to ₹18,170&nbsp;crore, which is almost 80% of the total loss to banks caused by the three fugitives. The ED mentioned that&nbsp;a part of seized assets of ₹9,371 crore&nbsp;was transferred&nbsp;to state-owned banks&nbsp;and the central government.

Indigo has launched a special discount for passengers who have been vaccinated in a bid to boost air traffic while supporting the vaccine drive. "The customers who hav

Indigo has launched a special discount for passengers who have been vaccinated in a bid to boost air traffic while supporting the vaccine drive.
"The customers who have been administered either one or both the Covid-19 vaccine doses, can avail a discount of up to 10 per cent per cent on the base fare while booking." stated Indigo IndiGo's discount offer comes just as the after the central government began the 'Free Vaccination For All campaign' for every citizen from June 21.&nbsp;

RIL AGM is undoubtedly the most watched date in the corporate calendar as 3 million Reliance shareholders await Mukesh Ambani to talk about Jio, Aramco,&

RIL AGM is undoubtedly the most watched date in the corporate calendar as&nbsp;3 million Reliance shareholders await&nbsp;Mukesh Ambani&nbsp;to talk about Jio, Aramco,&nbsp;Retail&nbsp;and the road ahead.&nbsp;So,&nbsp;what can one expect from India&rsquo;s largest company at&nbsp;it&rsquo;s&nbsp;44th&nbsp;AGM on June 24?&nbsp; &nbsp; Reliance: The Year That Was&nbsp;&nbsp; India&rsquo;s largest company displayed&nbsp;it&rsquo;s&nbsp;business grit to turn debt-free even in a pandemic. Keeping to his promise Mukesh Ambani steered Reliance into a zero-debt company by raising&nbsp;₹2.6 lakh crore ($36 billion); Reliance Retail raised Rs 47,265 crore for a 10.09%, while Jio Platforms garnered Rs 1.52 lakh crore from global investors including Google, Facebook and Intel.&nbsp;The stock of RIL has rallied 12.1 percent&nbsp;so far in 2021. In the last 12 months, it has&nbsp;climbed 34.4 percent.&nbsp; &nbsp; All Eyes on Aramco Deal&nbsp; Mukesh Ambani announced a possible stake sale&nbsp;of 20% in the oil-to-chemicals (O2C) business to Aramco but the deal remains delayed.&nbsp;Shareholders&nbsp;are expecting to hear details on the value unlocking as buzz increases that Aramco chief will get a seat on the RIL board&nbsp;&nbsp; &nbsp; The Jio Connect, 5G Phone &amp;&nbsp;JioBook&nbsp; Its&nbsp;all about the tech connect as Asia&rsquo;s richest man will look to sweep the market with a slew of announcements. Onlookers are keenly awaiting&nbsp;is Mukesh Ambani will finally launch the much talked about affordable 5G Android smartphone.&nbsp;During a virtual conference with select reporters from the Asia Pacific recently, Sundar Pichai mentioned that Google is working closely with the telecom giant to bring the promised "affordable" smartphone in India.&nbsp;&nbsp; Reliance Jio has already started trials on&nbsp;it&rsquo;s&nbsp;5G &ldquo;Made in India&rdquo; network&nbsp;is likely to announce kickstarting 5G services which might begin in late 2021.&nbsp; Tech watchers are also expecting the launch of the&nbsp;JioBook, the affordable laptop from the house of Reliance.&nbsp;&nbsp; &nbsp; Reliance&rsquo;s Rush&nbsp;For&nbsp;Retail&nbsp;&nbsp; Analysts at Goldman Sachs believe retail business (including e-commerce) is set to be the next growth engine for Reliance. They expect Reliance&rsquo;s core retail revenue to grow at a 36% CAGR over the next four years.&nbsp;JioMart&nbsp;is expected to launch new products like financial services, electronics to airline tickets which will put it in direct competition with upcoming Tata&nbsp;Superapp&nbsp;and other established players including&nbsp;PayTM, Amazon and Flipkart.&nbsp; &nbsp; Bonus Booster?&nbsp; Announcement over dividend declaration and bonus can also be expected in this AGM. Reliance likes to keep the market price of shares around ₹1,000 so the street anticipates it might get to see a 1:1 bonus announcement.&nbsp; &nbsp; How to watch the Reliance AGM 2021 live&nbsp; The annual general meeting of Reliance, whenever held physically in the last few years, marked the presence of at least 3,000 shareholders. In 2020, when it was held virtually, it witnessed 300,000 viewers across 42 countries and 468 cities, many of them using Reliance&rsquo;s own&nbsp;JioMeet video conferencing platform.&nbsp; &nbsp; &nbsp;

The dollar's in the wealth kitty is shrinking for the ultra-rich in India and the villain is the falling Rupee against the US dollar. Credit Suisse reports

The dollars in the wealth kitty is shrinking for the ultra-rich in India and the villain is the falling Rupee against the US dollar.&nbsp;
Credit Suisse&nbsp;reports that that dollar millionaires in India saw their networth&nbsp;falling by a whopping&nbsp;down $594 billion due to a falling rupee resulting in a drop in the dollar value of the their holdings. The&nbsp;cumulative wealth stood at $12.833 trillion for 6.9 lakh&nbsp;dollar millionaires in the country.&nbsp;The number of dollar millionaires in India fell has also&nbsp;from 7,64,000 in 2019 to 6,98,000. Soaring dollar continues to add pressure on the domestic currency that is now trading firmly below the 74/$ mark.&nbsp;
&nbsp;

Agro-chemical manufacturer India Pesticides has opened it's initial public offering (IPO) and is looking to raise Rs 800 crore. Here is what you need to know to make an

Agro-chemical manufacturer India Pesticides has opened it's initial public offering (IPO) and is looking to raise Rs 800 crore. Here is what you need to know to make an investment decision-:
IPO&nbsp;Details
<ul>
<li>Dates: Open June 23-25</li>
<li>Price Band:&nbsp;Rs 290&ndash;296 per equity share</li>
<li>Lot Size: Minimum of 50 equity shares, Max 2 lakh</li>
<li>Minimum Investment: Rs 14,800 for 50 shares</li>
</ul>
About the company
India Pesticides currently has registrations and licenses for 22 agrochemical technicals and 125 formulations for sale in India, and 27 agrochemical technicals and 35 formulations for export purposes. Company earns 56 per cent of revenue from the export market and 44 per cent of revenue from the domestic market This would be the 24th&nbsp;IPO launched in calendar 2021. So far, 23 companies have raised nearly Rs 37,000 crore from public issues&nbsp;this year with many more to come especially from the startup space.&nbsp;

Antigua and Barbuda Prime Minister Gaston Browne has said he is not aware of "any conclusive evidence" but there is information in public domain that wanted diamond mer

Antigua and Barbuda Prime Minister Gaston Browne has said he is not aware of "any conclusive evidence" but there is information in public domain that wanted diamond merchant Mehul Choksi was abducted
Choksi, wanted in Rs 13,500 crore bank fraud case in India, had mysteriously gone missing on May 23 from Antigua and Barbuda where he has been staying since 2018 as a citizen.
Browne was responding to questions of opposition MP in the Parliament there who asked him whether the Scotland Yard or any other investigative body found any evidence that Choksi was taken to Dominica by "involuntary means". Choksi was detained in neighbouring island country of Dominica for illegal entry after a possible romantic escapade with his rumoured girlfriend.
His lawyers alleged that he was abducted from Jolly Harbour in Antigua on May 23 by policemen looking like Antiguan and Indian and brought to Dominica on a boat.

The Competition Commission of India (CCI) has ordered a fresh probe into Google to investigate violation of competition laws by the search engine giant. The

The Competition Commission of India (CCI) has ordered a fresh probe into Google to investigate&nbsp;violation of competition laws by the search engine giant.&nbsp;
The CCI&nbsp;is investigating Google with relation to abuse of dominance in the smart TV operating system (OS) market.Reports indicate that the complaint filed by antitrust lawyers&nbsp;in May last year alleges that Google bars any company that acquired the licence for its Android TV platform from working with its competitors. The regulator stated in the order on Tuesday that &ldquo;Google has also sought an opportunity for oral hearing (by video conference) for Google to present its arguments on the issues raised in the Information. However, the commission, based on the information available on record (including the submissions made by Google), is prima facie convinced that a case is made out for directing an investigation by the DG."&nbsp;

Observing that the domestically manufactured vaccines would be the backbone of vaccinating the Indian people, US Pharma giant Pfizer CEO Dr Albert Bourla has said

Observing that the domestically manufactured vaccines would be the backbone of vaccinating the Indian people, US Pharma giant Pfizer CEO Dr Albert Bourla&nbsp;has said that his firm is in the final stages of an agreement with India to supply anti-Covid-19 vaccines.
Addressing the 15th edition of the India-US Bio Pharma &amp; Healthcare Summit, Dr Bourla also said that Pfizer has made a specific plan that the mid and low-income countries, which includes India, will receive at least two billion of such doses.
The Pfizer CEO said that a significant local manufacturing of vaccines that is happening at the Serum Institute of India will provide the &ldquo;backbone of vaccinating&rdquo; the Indian people.

Bankruptcy resolution court NCLT has approved the plan which allows Jet Airways to fly again. India's oldest private airline Jet Airways' insolvency plan as proposed by

Bankruptcy resolution tribunal&nbsp;NCLT has approved the plan which allows Jet Airways to fly again. India's oldest private airline Jet Airways' insolvency plan as proposed by the consortium of&nbsp;Kalrock Capital and entrepreneur Murari Lal Jalan. NCLT&nbsp;has given aviation regulator&nbsp;DGCA, Aviation Ministry given 90 days from June 22 to allot slots to Jet Airways. Jet Airways was grounded in April 2019 after a shortage funds, after which an SBI-led consortium referred it to the NCLT for resolution under the insolvency and bankruptcy code.

Petrol prices have breached the century-mark across many regions as the oil marketing companies (OMCs) raised the price of petrol and diesel between 25-30 paise pe

Petrol prices have breached the century-mark across many regions&nbsp;as the oil marketing companies (OMCs) raised the price of petrol and diesel between 25-30 paise per litre across the four metros.
Petrol prices are already at or above the ₹100-mark in cities across&nbsp;Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.&nbsp;Mumbai&nbsp;was the first city where petrol prices crossed the ₹100-mark at the end of May and are now retailing at ₹103.63/lt.
Since May 1 petrol prices are up by ₹7.11 per litre in Delhi. Similarly, diesel price has increased by ₹7.50 per litre in the&nbsp;national&nbsp;capital in the same period.
&nbsp;
&nbsp;

Asian markets gained following a stunning recovery rally in the US Markets as Wall Street saw the best single day gain since March 5. The 30-stock Dow Jones

Indian equity markets&nbsp;rallied on Tuesday with&nbsp;Sensex&nbsp;hitting a&nbsp;fresh all-time high as it breaks above 53,000-marks. Nifty edged higher towards 15,900 pushed by auto stocks.
Asian markets gained following a stunning recovery rally in the US Markets as Wall Street saw the best single day gain since March 5.&nbsp;
The 30-stock Dow Jones&nbsp;jumped 587 points, or nearly 1.8% while the broader gauge S&amp;P 500 gained 1.4% to 4,224.79, sitting within 1% from its record high after Monday&rsquo;s comeback rally.&nbsp; All 11 S&amp;P 500 sector indices rose, with energy jumping 4.3% and leading the way, followed by financials, up 2.4%.

HCL Tech could face backlash from Purdue Pharma news : reports

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