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☆ 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.

☆ Inflation drives global firms eastward in Europe in search of cost savings
▼ + stars: | 2022-10-18 | by ( Michael Kahn | Anna Koper | ) www.reuters.com time to read: +5 min

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.

☆ India's Infosys jumps on upbeat outlook, buyback plans
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren/File PhotoBENGALURU, Oct 14 (Reuters) - Shares of Indian IT major Infosys Ltd (INFY.NS) rose as much as 4.6% to a one-month high on Friday, after it raised revenue outlook and announced a $1.13 billion share buyback. The Bengaluru-based firm now expects 15%-16% revenue growth in the fiscal year ending March, compared with 14%-16% earlier. ($1 = 82.2240 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Nandan Mandayam in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA STOCKS Indian shares gain as Infosys, banks stocks climb
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 14 (Reuters) - Indian shares were higher in early trades on Friday, led by gains in IT giant Infosys, bank stocks and strength in broader Asia. The NSE Nifty 50 index (.NSEI) was 1.77% higher at 17,315.60 as of 0350 GMT, and the S&P BSE Sensex (.BSESN) climbed 1.86% to 58,297.87. read moreNifty's IT (.NIFTYIT), private sector bank (.NIFPVTBNK) and public sector bank (.NIFTYPSU) indexes were up over 2% each. Two- and three-wheeler maker Bajaj Auto (BAJA.NS), a Nifty- 50 component, was 1% higher ahead of its quarterly earnings results later in the day. Asian shares climbed on Friday following Wall Street, although gains could be shortlived over recession worries after surging U.S. inflation increased likelihood of higher interest rates for longer.

☆ Stocks making the biggest moves premarket: Albertsons, JPMorgan Chase, Beyond Meat and more
▼ + stars: | 2022-10-14 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

JPMorgan Chase (JPM) – JPMorgan Chase shares added 2.3% in the premarket after beating top and bottom line estimates for the third quarter. The bank's results were boosted by higher net interest income, helping offset lower deal-making revenue and higher loan loss reserves. UnitedHealth Group (UNH) – The health insurer rose 1.6% in the premarket after beating top and bottom line estimates for the third quarter and raising its outlook. Nutanix (NTNX) – The cloud computing company's shares surged 15.9% in the premarket after the Wall Street Journal reported that Nutanix is exploring a possible sale. Beyond Meat (BYND) – Beyond Meat slumped 8.7% in the premarket after reducing its revenue outlook and announcing another round of job cuts, pointing to reduced demand for its plant-based meat products and increasing competition.

☆ Absolutely, absolutely!
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Ankur BanerjeeAll sides in the UK gilt markets are hanging tough. Prime Minister Liz Truss is 'absolutely' committed to her spending plans, the Bank of England is absolutely determined to end its bond-buying by Friday and the markets are absolutely unconvinced about stability and calm. If that wasn't enough cause for worry, August GDP data showed the United Kingdom is on the brink of recession. Yet, he points to how that may not mean the BoE continues buying gilts in conflict with its inflation objective. Meanwhile, investors anxiously await U.S. inflation data for September later on Thursday.

☆ India's Infosys beats Q2 profit estimates, sets $1.13 bln share buyback
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

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.

☆ INDIA STOCKS Indian shares fall as rate hike fears surface; Wipro plunges
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 13 (Reuters) - Indian shares were lower in early trade on Thursday after data showed the country's retail inflation accelerated to a five-month high in September, stoking fears of further rate hikes by the central bank. The NSE Nifty 50 index (.NSEI) fell 0.19% to 17,090.50 as of 0348 GMT, and the S&P BSE Sensex (.BSESN) declined 0.26% to 57,477.01. The country's annual retail inflation jumped to 7.41% last month, as food prices surged, and it remained above the Reserve Bank of India's target for three quarters. Market participants now await U.S. consumer price data due later in the day. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil and Neha AroraOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Absolutely, absolutely!
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

☆ Companies need to embrace an innovative path to create new employment opportunities
▼ + stars: | 2022-03-03 | by ( Ravi Kumar | ) www.businessinsider.com time to read: +5 min

This article is part of the "Financing a Sustainable Future" series exploring how companies take steps to set and fund sustainable goals. A LinkedIn survey found just one in 67 paid jobs in the US offered remote work in 2020, and that number this year grew to one in six. The labor shortage is compelling companies to boost pay. Low-complexity jobs will inevitably be automated, given the acute labor shortage, and the real opportunity will be in training people to take on higher-order responsibilities, which will allow enterprises to scale business purposefully. Remote work means more people otherwise limited by their circumstances — like caregiving adults, students, and people with disabilities or in rural areas — can now be included in the nontraditional American workforce and gig economy.

☆ India's got the next big thing in tech, and it could be worth $1 trillion
▼ + stars: | 2021-09-09 | by ( Diksha Madhok | Cnn Business | ) edition.cnn.com time to read: +8 min

Now, Asia's third largest economy is ready for the next big frontier in tech: Coming up with a new generation of software companies like Zoom or Slack. Of India's 10 SaaS unicorns, six reached that milestone in 2020, and investors around the world are paying attention. Thanks to the rise of India's IT industry, software engineering has become one of the most sought-after career options in the country. Despite the euphoria, there are some hurdles Indian companies have to overcome before they can deliver on the $1 trillion promise. SaaS companies, on the other hand, have to say no to 99% of [potential] customers, he added.

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