Market on Friday moved lower from its all-time peak as participants were quick to take profit amid a lacklustre trend overseas.

Stocks of FMCG, capital goods, banking, IT and realty remained subdued.

Technology giant Microsoft is undertaking a major reorganisation that will likely see the company cutting about 3,000 jobs from its global workforce, a media report said today.

The layoffs under the restructuring at the technology giant led by India-born Satya Nadella will mostly affect sales, and as many as 3,000 jobs will be cut, CNBC reported.

The Securities and Exchange Board of India (Sebi) is in favour of having at least one woman as independent director (ID) on the board of listed companies, said two people in the know, including a senior Sebi official.

According to the Companies Act, 2013, all listed companies need to have at least one woman as a director on their board. While most companies have fulfilled this, some have done so by inducting family members of the promoters. And, women on India Inc boards are still low in number.

The Insurance Regulatory and Development Authority of India (Irdai) has asked insurance companies with foreign joint venture (JV) partners to examine whether these agreements with ‘option clauses’ comply with Foreign Exchange Management Act (Fema) norms. If there is any gap in the agreements, then the insurers should amend it to ensure compliance, the regulator said.

The insurers need to comply with the norms related to pricing, pertaining to put and call options in the Fema rules, Irdai said.

Infosys, India’s second-largest IT services firm, said it would hire 2,000 Americans in North Carolina by 2021.

The Bengaluru-headquartered company said its second technology and innovation hub would come up in the southeastern state of US out of four such proposed facilities.

With hope of getting a special economic zone (SEZ) in West Bengal fading away, information technology (IT) major Wipro on Thursday said it was working on an alternative plan to set up a second campus in the state.

“We are exploring newer opportunities. That chapter (SEZ) is closed,” said Rishad Premji, chief strategy officer at Wipro, on the sidelines of the Nasscom East IT Awards.

In a fresh trouble for Rashtriya Janata Dal (RJD) chief and former Railway Minister Lalu Prasdad Yadav, the Central Bureau of Investigation (CBI) on Friday registered a case against him on the allegations of awarding the tender for development, maintenance and operation of Hotels at Ranchi and Puri to a Private Company dealing with Hotels in the year 2006.

Narendra Modi in Israel: Tel Avivs prowess in the defence sector is known to the world. But it is certainly not its biggest weapon if future threats to humanity are taken into consideration.UN estimates that by 2050, around 40% of the world population will face water shortages. Israel’s superpower status in water technology makes the country immune from any such water woes in future.

Narendra Modi in Israel: Tel Aviv’s prowess in the defence sector is known to the world. But it is certainly not its biggest weapon if future threats to humanity are taken into consideration.

Japanese automaker Nissan on Thursday announced the reduction in prices of its vehicles, including Datsun brand, by an average of 3 per cent to pass on the GST benefit to customers.

Ex-showroom prices of the company's products have been reduced by an average of 3 per cent, depending on city and model specification, Nissan Motor India said in a statement.

China on Thursday said the atmosphere was not right for a bilateral meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the G20 Summit in Hamburg, amidst a standoff between the armies of the two countries in the Sikkim section.

The atmosphere is not right for a bilateral meeting between President Xi and Prime Minister Modi, Chinese Foreign Ministry officials said ahead of the G20 Summit in the German city of Hamburg from tomorrow.

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