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REUTERS/Lindsey WassonWASHINGTON, Feb 6 (Reuters) - Boeing Co (BA.N) expects to cut about 2,000 white-collar jobs this year in finance and human resources through a combination of attrition and layoffs, the U.S. planemaker confirmed Monday. The company confirmed a Seattle Times report Monday it expects "about 2,000 reductions this year primarily in finance and HR through a combination of attrition and layoffs." Boeing also confirmed it is outsourcing about one third of those jobs to Tata Consulting Services (TCS.NS) in India. Last month, Boeing said it will "lower staffing within some support functions" - a move meant to enable it to better align resources to support current products and technology development. Last year, Boeing said it planned to cut about 150 finance jobs in the United States to simplify its corporate structure and focus more resources into manufacturing and product development.
Digital twins are set for rapid adoption in 2023
  + stars: | 2023-01-21 | by ( Bob Violino | ) www.cnbc.com   time to read: +7 min
This avatar is a personalised, hyper-realistic, 3D, #seriezero digital twin that they can use to interact on digital platforms and in the metaverse. In life sciences, digital twins are being used to create twins of human organs, enabling new approaches to medical research and care, Diana said. "We are going to see digital twins adopted rapidly in 2023, in many different industries," Diana said. Digital twins are gaining momentum in adoption and sophistication as more organizations see positive outcomes from the early adopters, Barrington said. "As more twins of critical assets and processes come online, leaders will leverage digital twins to not only model and simulate their supply chain, but to optimize and automate a dynamic and intelligent supply chain model — all orchestrated by digital twins," Barrington said.
The Indian IT services industry, which enjoyed a pandemic-led boom, is now contending with slower spending or at least delays in decision-making due to growing fears of a global recession. Earlier this week, both Tata Consultancy Services (TCS.NS) and HCLTech (HCLT.NS) said European clients were tightening spending. Bengaluru-based Wipro said its fourth-quarter IT services revenue, which accounts for about 98% of overall revenue, could range between a 0.6% sequential drop and a 1% sequential rise, in constant currency terms. Wipro's IT services revenue rose 0.6% sequentially, to $2.80 billion in constant currency terms, in the third quarter, and had jumped 3.1% sequentially in the fourth quarter last year. Still, the company's total order bookings rose 26% year-over-year to $4.3 billion in the quarter ended Dec. 31.
Indian shares set to open higher; inflation slows
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Jan 13 (Reuters) - Indian shares are set to open higher on Friday after data showed domestic and U.S. inflation eased last month, boosting expectations that central banks could slow the pace of interest rate hikes. In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8% at a seven-month high. STOCKS TO WATCH** Wipro Ltd (WIPR.NS): Co set to report quarterly results later in the day. ** Infosys (INFY.NS): Co raises annual revenue outlook after reporting better-than-expected quarterly profit in third quarter. ($1 = 81.1100 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru;Our Standards: The Thomson Reuters Trust Principles.
Indian shares seen opening flat; Powell's speech, earnings eyed
  + stars: | 2023-01-10 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Jan 10 (Reuters) - Indian shares were set for a muted opening on Tuesday, tracking global moves as investors weighed expectations of less aggressive Fed rate hikes against inflation and corporate earnings performance. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 18,150.50, as of 7:42 a.m. IST on Tuesday. Domestic investors bought 17.24 billion rupees worth of shares, as per provisional NSE data. STOCKS TO WATCH** TCS (TCS.NS): Co's third quarter net profit missed estimates, flags challenges in Europe as clients tighten spending. ($1 = 82.1700 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
India's TCS slips 2.7% on profit miss, weak outlook
  + stars: | 2023-01-10 | by ( ) www.reuters.com   time to read: +2 min
Shares of India's largest IT services provider fell as much as 2.7% to 3,230.1 rupees, dragging the broader market down 0.7%. "While TCS is better placed in a recessionary environment, its rich valuations will likely weigh on stock performance." The Mumbai-based company's order book fell to $7.8 billion from $8.1 billion in the September quarter. (nL4N33U1V6)Profit rose to 108.46 billion rupees ($1.32 billion) from 97.69 billion rupees a year earlier, but missed analysts' estimates of 110.46 billion rupees. The stock fell 12.9% in 2022, after five straight years of gains.
Indian shares set to open higher to track Asia; Q3 results eyed
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +2 min
At home, IT major Tata Consultancy Services (TCS.NS) was set to report third quarter results after market close. Analysts expect weak Q3 revenue growth for IT services firms, on the back of deteriorating macroeconomic conditions and furloughs in the quarter. Domestic investors bought 10.83 billion rupees worth of shares, as per provisional NSE data. ** Titan Company (TITN.NS): Co reported 12% YoY growth in combined sales in third quarter, driven by festive season. ** Tata Steel (TISC.NS): Company's India crude steel production stood at 5 million tonnes in third quarter, up 4% YoY.
When she started traveling alone, she said, the trend was less common and locals were often surprised to see her without a companion. The Solo Female Travelers Club, a 190,000-member social network and tour operator, surveys 5,000 women annually on their habits and opinions. A Gili Lankanfushi representative told Insider six women traveling alone had booked the package in the past 18 months. "I think it's a wonderful, life-affirming experience to be a woman traveling solo and experience the nurturing care you can get from strangers. Meg Jerrard, a cofounder of the Solo Female Travelers Club, recently started a consulting division of her company to help guide other businesses as they reevaluate their offerings and staff in light of growing demand from solo female travelers.
Factbox: Who is Russian businessman Vladimir Potanin?
  + stars: | 2022-12-15 | by ( ) www.reuters.com   time to read: +3 min
Dec 15 (Reuters) - Vladimir Potanin, who was placed on a U.S. sanctions list on Thursday, is one of Russia's wealthiest businessmen. - Potanin, 61, is the president and largest shareholder at Nornickel, the world's largest producer of palladium and refined nickel. In 2021 Nornickel was the world's top producer of refined nickel, used to make stainless steel and important for electric vehicle batteries. - The son of a high-ranking Soviet trade official, Potanin was educated at Moscow’s elite diplomatic academy. - Potanin has taken care to stay on the right side of President Vladimir Putin, for instance by accepting a $2 billion fine after Nornickel angered the president by causing Russia's biggest Arctic oil spill two years ago.
BENGALURU, Dec 9 (Reuters) - Indian shares reversed early gains on Friday, dragged by information technology stocks, after HCL Technologies warned of a potential slowdown in client spending in the industry's key U.S. markets as recession fears weighed. read moreAll the top losers in the Nifty 50 index were information technology stocks, with HCL Tech, Infosys, Tech Mahindra, Wipro and TCS, leading the decline. Most of the other sectors, however, gained as an overnight slide in oil prices and the easing of China's COVID-19 curbs limited losses. The Nifty PSU (.NIFTYPSU) index rose over 1%, on course to advance for the seventh day in a row, if gains hold. Oil prices stabilised, but still hovered around 2022 lows, after slipping for the fifth day in a row on Thursday.
BENGALURU, Dec 8 (Reuters) - Indian shares were set to dip for a third straight session on Thursday, as concerns over a possible U.S. recession and the pace of the Federal Reserve's rate hikes dampened sentiment. India's NSE stock futures listed on the Singapore exchange were down 0.07% at 18,658.50 as of 8:05 a.m. IST. U.S. worker productivity data for the third quarter beat forecasts on Wednesday, muddying a debate on the trajectory of Fed's rate hikes. Foreign institutional investors sold a net 12.42 billion rupees ($151.09 million) worth of equities on Wednesday, while domestic investors bought net 3.89 billion rupees ($47.32 million) worth of shares, as per provisional NSE data. read more** Axis Bank : Lender to raise up to 120 billion Indian rupees through sale of Basel III compliant Tier-II bonds.
Kenyans sweep New York City Marathon in punishing heat
  + stars: | 2022-11-06 | by ( Amy Tennery | ) www.reuters.com   time to read: +3 min
[1/2] Athletics – 2022 TCS New York City Marathon - New York, United States - November 6, 2022 Kenya's Evans Chebet in action during the elite men's race REUTERS/Jeenah MoonNEW YORK, Nov 6 (Reuters) - Kenyans Evans Chebet and Sharon Lokedi survived brutal heat and humidity to win the New York City Marathons on Sunday after Brazilian Daniel Do Nascimento collapsed during the race. His win completes a Kenyan sweep of the six men's world marathon majors in 2022. "I'm out of words, I'm really excited," said Lokedi, the eighth competitor to win the New York race in a marathon debut. The year's final marathon major was back at full capacity for the first time since the COVID-19 pandemic, with some 50,000 competitors hitting the streets and thousands of people congregating along the course to cheer. American Susannah Scaroni produced the fastest-ever time through the five boroughs on the women's side, winning her second wheelchair major in 1:42:43.
Serial entrepreneur Oleg Tinkov has renounced his Russian citizenship, saying he does not want to be associated with “fascism” or people who collaborate with “killers.”In an Instagram post published on Tuesday, the 54-year-old founder of Tinkoff Bank wrote: “I decided to renounce my Russian citizenship after Russia invasion of independent Ukraine. He was forced to sell his 35% stake in TCS, Tinkoff Bank’s parent, to Russian metals magnate Vladimir Potanin in April, following a string of anti-war comments. “I hate when my brand/name is associated with the bank that collaborates with killers and blood.”Oleg Tinkov. Before he sold his stake, Britain imposed sanctions on Tinkov, saying he was “receiving benefits from the Russian government” through his stake in a systemically important company. Tinkoff previously held U.S. citizenship, but renounced that around the time Tinkoff Bank went public in 2013 in what Washington said was an attempt to avoid tax liabilities.
In an Instagram post published on Tuesday, the 54-year-old founder of Tinkoff Bank wrote: "I decided to renounce my Russian citizenship after Russia invasion of independent Ukraine. He was forced to sell his 35% stake in TCS, Tinkoff Bank's parent, to Russian metals magnate Vladimir Potanin in April, following a string of anti-war comments. Tinkov said an original Instagram post published on Monday, with a picture of a certificate renouncing his citizenship as of Oct. 26, had "mysteriously disappeared". Before he sold his stake, Britain imposed sanctions on Tinkov, saying he was "receiving benefits from the Russian government" through his stake in a systemically important company. Tinkoff previously held U.S. citizenship, but renounced that around the time Tinkoff Bank went public in 2013 in what Washington said was an attempt to avoid tax liabilities.
WASHINGTON, Oct 31 (Reuters) - The White House will host officials from 37 countries and 13 global companies in Washington this week to address the growing threat of ransomware and other cyber crime, including the illicit use of cryptocurrencies, a senior U.S. official said. The White House hopes the meeting will allow participating countries to "institute a set of cyber norms that are recognized across the globe to counter criminal ransomware threats and hold malicious actors accountable," the official said. One key topic for discussion will be how to disrupt such attacks, counter the illicit movement of cryptocurrencies and build resilience against such attacks, the official said. Top administration officials, including FBI Director Chris Wray, Deputy Treasury Secretary Wally Adeyemo, White House national security adviser Jake Sullivan and Deputy Secretary of State Wendy Sherman will address the meeting. Companies participating include Crowdstrike, Mandiant, Cyber Threat Alliance, Microsoft, Cybersecurity Coalition, Palo Alto, Flexxon, SAP, Institute for Security + Technology, Siemens, Internet 2.0, Tata – TCS, and Telefonica, the White House said.
[1/2] Athletics - TCS New York City Marathon - New York, United States - November 7, 2021 People react at the finish line. REUTERS/Carlo AllegriNEW YORK, Oct 26 (Reuters) - The New York City Marathon is embracing livestreaming in a fight to create a new generation of athletics fans this year, becoming the first marathon major to broadcast the race live on its mobile app, organisers said on Wednesday. The marathon on Nov. 6 will already be broadcast to some 530 million homes worldwide but organisers hope the livestream will reach existing fans abroad without access to a traditional telecast. "So if you have content and you have valuable content, you have to migrate where the audience is." For Des Linden, a two-time Olympian who won the Boston Marathon in 2018, the appeal of livestreaming in athletics is simple.
LONDON, Oct 24 (Reuters) - Three former executives at Russian online bank Tinkoff have raised $16 million to launch a fintech start-up focused on Southeast Asia and initially targeting the Philippines, they said in a statement on Monday. The trio leading the venture all left Tinkoff in the second quarter, soon after Russia's invasion of Ukraine triggered Western sanctions against Russia and after an announcement that Tinkoff's London-listed owner TCS Group Holding (TCSq.L) was planning to expand in Asia. Among the men leading the fintech start-up is George Chesakov, who was a co-founder of Tinkoff and had announced a week before the Ukraine invasion that TCS would team up with Swiss payment specialist BPC in the Philippines as part of a $200 million expansion into Asia. The other two men leading the rival venture are Pavel Fedorov, joint Tinkoff CEO in 2021-22, and Raffy Montemayor, a Filipino who will head the new business in the Philippines. Register now for FREE unlimited access to Reuters.com RegisterWriting by Kevin Liffey Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
India's Coforge posts Q2 profit beat as deal wins remain intact
  + stars: | 2022-10-20 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Oct 20 (Reuters) - Indian IT solutions provider Coforge Ltd (COFO.NS) reported a 37% rise in second-quarter profit on Thursday, beating analysts' estimates, as it won more orders, including large deals. The company's profit of 2.01 billion Indian rupees ($24.3 million) in the quarter was higher than analysts' expectation of 1.97 billion rupees, according to IBES data from Refinitiv. The IT services provider said revenue from operations surged 24.8% year-over-year to 19.59 billion rupees, boosted by big orders from insurance, banking and financial services companies. Coforge said it signed two deals worth over $30 million during the quarter, after securing two large deals, including one worth over $50 million, in the previous quarter. The company's orders intake stayed above $300 million for the third consecutive quarter, clocking $304 million in the latest three-month period.
PRAGUE/WARSAW (Reuters) - Central European companies that provide remote, lower-cost business services for multinationals are ramping up their expansion plans as high inflation drives global firms to push more work to the region to cut costs and bolster margins. “If we started out here as an experiment, the experiment is working.”INFLATION ATTRACTS NEW INVESTORSThe business services sector has grown from almost nothing 25 years ago to an industry employing nearly 800,000 workers across Central and Eastern Europe, an increasingly important engine for local economies. At Comdata, whose 1,500 workers in the Czech Republic and Hungary operate telephone service lines, rising inflation and costs from Western companies have kept business humming. “As more and more companies try to cut and to lower the labour costs they will be moving the services from western Europe,” Nedelnik told Reuters. “I see during the last two or three months the tenders are rapidly growing for German, French, Spanish and English-speaking roles.
BENGALURU, Oct 17 (Reuters) - Funding commitments for digital push remain intact despite a challenging macro-economic environment, the chief executive of India's No. The pandemic unlocked a lot of funding commitments in terms of digital transformation, TCS Chief Executive Rajesh Gopinathan told Reuters. Register now for FREE unlimited access to Reuters.com Register"When you look forward, for the next 12 to 18 months, that excitement level (towards digital transformation) has died down, but the funding commitments have not gone away. Mumbai-based TCS reported better-than-expected quarterly results last week, but flagged that long-term deal decision making remained soft due to macro-economic challenges. July-September order book was steady and stood at $8.1 billion, consisting of several small- and medium-sized deals rather than large ones, according to TCS.
BENGALURU, Oct 13 (Reuters) - India's Infosys Ltd (INFY.NS) on Thursday reported a bigger-than-expected increase in second-quarter profit, boosted by strong demand, and raised its full-year revenue growth forecast. The country's second-largest IT services company by revenue also approved a share buyback worth 93 billion Indian rupees ($1.13 billion). Infosys's raised forecast is in contrast to its rivals, who have issued cautious outlooks so far due to the challenging macro-environment and fears of an economic meltdown in their major markets of the U.S. and Europe. read moreInfosys's consolidated net profit rose 11% to 60.21 billion rupees year-over-year in the quarter ended Sept. 30, beating analysts' average estimate of 57.82 billion rupees, according to Refinitiv data. The company's revenue from operations jumped 23.4% to 365.38 billion rupees.
BENGALURU, Oct 12 (Reuters) - IT services firm HCL Technologies Ltd (HCLT.NS) on Wednesday raised its full-year revenue growth forecast and reported a 7.1% rise in September-quarter profit, helped by a rise in new order wins. The Noida-based company raised its fiscal 2023 revenue growth forecast to 13.5% to 14.5% from 12% to 14% on a constant currency basis, citing strong order bookings and pipeline. Indian IT services companies' profit jumped last year as they rode the pandemic-driven demand, but results this quarter have been mixed. read more read moreRecession-wary U.S. and European clients are expected to tighten their budgets, which will hit profits at Indian IT services firms. HCL said its net profit rose 7.1% to 34.89 billion Indian rupees ($424.18 million) for the second quarter.
India's Wipro Q2 profit misses estimate
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Oct 12 (Reuters) - India's Wipro Ltd (WIPR.NS) on Wednesday reported a weaker-than-expected second quarter profit hit by higher employee-related expenses. read moreConsolidated net profit for quarter-ended Sept. 30 came in at 26.59 billion Indian rupees ($323.3 million), compared with 29.31 billion rupees year ago. Analysts on average had expected a profit of 28.44 billion rupees, according to Refinitiv data. Revenue from operations rose nearly 15% to 225.40 billion rupees. ($1 = 82.2530 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
INDIA STOCKS Indian shares extend fall as autos weigh
  + stars: | 2022-10-11 | by ( Rama Venkat | ) www.reuters.com   time to read: +2 min
BENGALURU, Oct 11 (Reuters) - Indian shares fell for a third session on Tuesday, with automobile stocks leading losses, as risk-averse trades take hold of financial markets globally. The NSE Nifty 50 index (.NSEI) fell 0.55% to 17,146 as of 0510 GMT, and the S&P BSE Sensex (.BSESN) was down 0.51% to 57,692.61. read moreIn domestic trading, the Nifty's automobile index (.NIFTYAUTO) and the energy index (.NIFTYENR) fell 0.98% and 0.69%, respectively. Tata Consultancy Services Ltd (TCS.NS) posted its biggest intraday pct fall in more than three weeks, weighing on the Nifty IT index (.NIFTYIT) which was down 0.75%. "We have seen the worst of inflation getting over so don't see much of a domestic inflation scare as of now."
Kipchoge will be at London Marathon, but not racing
  + stars: | 2022-09-27 | by ( Mitch Phillips | ) www.reuters.com   time to read: +3 min
Eliud Kipchoge of Kenya crosses the finish line to win the men's category race in the Tokyo Marathon 2021 in Tokyo, Japan March 6, 2022. Kipchoge, a four-times winner in London, clocked two hours, 01.09 seconds to take half a minute off his own record set on the same Berlin course four years ago. Returning to London he will present medals to thousands of youngsters racing parts of the course on Saturday, finishing under the famous gantry on The Mall. Briton Mo Farah, now 39, won the Mini Marathon three times and will be the man the locals want to see on Sunday. Brasher said that he was planning for London Marathon to accommodate 50,000 runners, up from the current total of around 40,000, probably from 2024, with a long view to matching that with 50,000 in the Mini Marathon to mark the race's 50th Anniversary in 2031.
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