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Facebook to unveil new versions of Portal video chat devices this autumn

Facebook to unveil new versions of Portal video chat devices this autumn

Facebook Inc plans to release new versions of its Portal video chatting devices this autumn, the company’s vice president of AR/VR, Andrew Bosworth, said during an interview at the Code Conference in Scottsdale, Arizona.”We have a lot more that we’re going to unveil later in this fall, new form factors that we’re going to be shipping,” Bosworth said of the new devices.

Maruti cuts output for 4th straight month in May

Maruti cuts output for 4th straight month in May

In a reflection of how weak consumer demand is, Maruti said it had cut production by over 18% year-on-year (y-o-y) in May, the fourth consecutive month in which it trimmed output. Despatches to dealers had fallen by 24% y-o-y, among the steepest monthly declines in at least seven years.

Market watchers said demand had flagged due to the increased prices of cars resulting from rising insurance premiums and hikes taken by manufacturers for new safety features.

Coal India to soon name merchant banker for Australian buy

Coal India to soon name merchant banker for Australian buy

In its quest for coking coal assets, government-owned Coal India Ltd is looking at acquiring a mine in Australia and will soon appoint a merchant banker to handle the transaction. The PSU board, which will meet here on June 19, will finalise the terms of the Notice Inviting Tender (NIT).

Currently, CIL is not able to met the entire demand for coking coal from local steel makers from its own mines and resorts to imports.

DNA EXCLUSIVE: SBI, banks gave defaulting Sterling owners Rs 1.3k cr guarantees

DNA EXCLUSIVE: SBI, banks gave defaulting Sterling owners Rs 1.3k cr guarantees

The State Bank of India's (SBI) loan sanction process to a subsidiary of debt-laden pharmaceutical company Sterling Biotech has come under a cloud. A consortium banks led by the SBI provided guarantees of Rs 1,298.10 crore to Sterling Biotech's overseas oil subsidiary when the promoters of the company, Nitin Sandesara, Chetan Sandesara, Dipti Sandesara and Hitesh Patel, were already in the Reserve Bank of India's (RBI) wilful defaulters' list.

Infosys sets up experience design and innovation studio in London

Infosys sets up experience design and innovation studio in London

India's second largest IT services firm Infosys on Monday said it has set up an experience design and innovation studio in Shoreditch, London.

The facility will provide space for Infosys and its clients to ideate, collaborate and innovate together by combining design and the latest technology offerings, including artificial intelligence, augmented reality/virtual reality, Internet of Things and 5G, Infosys said in a statement.

50% tariff on US motorcycles by India unacceptable, says Donald Trump

50% tariff on US motorcycles by India unacceptable, says Donald Trump

US President Donald Trump said that even though India has reduced its import tariff on American motorcycles from 100 percent to 50 percent, it is still too high and not acceptable to him.

Trump said the United States, under his leadership, is a country that can no longer be fooled.

Wipro rolls out new solutions for aviation sector

Wipro rolls out new solutions for aviation sector

NEW DELHI: IT major Wipro on Monday said it has rolled out Total Operations System (TOPS) CREW, a suite of solutions for global airlines.

Developed jointly by Wipro and Qatar Airways in an innovative co-investment model, TOPS is one of the most advanced products available in the aviation market, the company said in a statement.

TCS overtakes RIL to become most valued firm by m-caps

TCS overtakes RIL to become most valued firm by m-caps

New Delhi: Tata Consultancy Services (TCS) Monday surpassed Reliance Industries to become the most valued firm by market valuation.

At close of trade, the market capitalisation (m-cap) of TCS was at ₹8,37,194.55 crore, which was ₹1,170.47 crore more than that of RIL's ₹8,36,024.08 crore on the BSE.

L&T Construction bags large orders across various business segments

L&T Construction bags large orders across various business segments

New Delhi: Infrastructure company Larsen & Toubro (L&T) Monday said its construction arm has bagged 'large' orders across various business segments in the domestic as we ll as international market.

The company said the orders fall under 'large' category, which ranges between ₹2,500 crore and ₹5,000 crore as per its classification of contracts.

Maruti Suzuki cuts production in May for 4th month in row, output down 18%

Maruti Suzuki cuts production in May for 4th month in row, output down 18%

The country's largest car maker Maruti Suzuki India (MSI) has cut vehicle production by over 18 per cent in May, according to a regulatory filing. It is the company's fourth consecutive month of taking a production cut. The car market leader produced a total of 1,51,188 units in May, including Super Carry LCV, down 18.1 per cent from 1,84,612 units in the year-ago month, MSI said in the filing.

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