A Brief on Business News

  • Cognizant to lay off 6,000 employees in India-US-based IT major Cognizant is looking to lay off 6,000 employees in India to increase hiring in its home country.
  • Apple becomes first company to hit $800 bn valuation mark- Apple's valuation was higher than the combined market cap of all 30 Sensex companies, stood $784bn.
  • Why did SC hold Vijay Mallya guilty of contempt of court?-The Supreme Court found that Mallya received $40 mn from a firm which wasn't used to repay the loan.
  • Delhi Metro hikes fares after 8 yrs, maximum fare to be ?50.The new fares are likely to be introduced from Wednesday, 10% discount on national holidays & Sunda
  • Coach buys rival Kate Spade for $2.4 billion,landing its biggest deal yet. Coach handbags cost between $285 and $3,000, Kate Spade handbags sell for $100-$500.

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