IT Services
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MUMBAI/ BANGALORE, May 21- IT outsourcing company iGate Corp sacked Chief Executive Phaneesh Murthy after a company sexual harassment investigation revealed that he had not disclosed a relationship with a subordinate.
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May 16- Computer Sciences Corp agreed to pay $97.5 million to settle a lawsuit accusing it of defrauding shareholders by hiding a variety of accounting problems.
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SAN FRANCISCO, May 15- As Amazon.com Inc seeks to transform itself into a leading provider of technology to the world's largest corporations, it is discovering that it needs help.
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MUMBAI/ BANGALORE, May 15- A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.
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MUMBAI/ BANGALORE, May 12- The Indian government's cyber watchdog is investigating how security at two companies that are part of the country's vast IT services industry was breached in a global ATM heist that saw $45 million stolen from two banks in the Middle East.
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India's IT watchdog is investigating how the computer systems of two companies that are part of the country's vast IT services industry were breached in a global ATM heist.
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MUMBAI/ BANGALORE, May 12- The Indian government's cyber watchdog is investigating how the computer systems of two companies that are part of the country's vast IT services industry were breached in a global ATM heist that saw $45 million stolen from two banks in the Middle East.
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*First-quarter revenue $2.02 bln vs estimate of $2.01 bln. May 8- Cognizant Technology Solutions Corp forecast current-quarter revenue above market expectations after an 18 percent rise in the first quarter, helped by strong demand from Europe. First-quarter sales from Europe rose 23 percent, outpacing a 16 percent growth in North America.
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*CGI Group jumps 18 percent after results. TORONTO, April 30- Canada's main stock index recorded its second-biggest percentage jump of the year so far on Tuesday, boosted by gains in almost all main sectors and in Suncor Energy Inc. An 18 percent jump in CGI Group Inc.
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*CGI Group jumps 15 percent after results. TORONTO, April 30- Canada's main stock index stumbled on Tuesday as hard-hit gold producers dropped another 3 percent on lower gold prices, a fall that overwhelmed a jump in Suncor Energy Inc.
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PARIS, April 25- Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks. CAC 40 futures are little changed at 0655 GMT VIVENDI.
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*Lenovo says in early acquisition talks, no target named. *Lenovo bought IBM's PC business in 2005. April 18- Lenovo Group said on Friday it was in preliminary talks about a potential acquisition, following a media report that IBM Corp was negotiating the sale of its x86 server hardware business to the Chinese computer maker.
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April 18- IBM Corp is in negotiations to sell its x86 server hardware business to Chinese computer maker Lenovo Group, technology news site CRN reported on Thursday citing sources with knowledge of the situation.
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NEW YORK, April 8- Thomas H. Lee Partners said Monday it is buying privately held IT outsourcing company CompuCom Systems Inc for around $1.1 billion, a person close to the matter said. Dallas, Texas based CompuCom had been owned by Court Square Capital Partners, a private equity firm that was spun out of Citigroup Inc in 2006..
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March 28- Industry research firm Gartner trimmed its tech spending outlook for 2013 because concerns about the U.S. budget and Cyprus' debt burden are expected to temporarily weigh on financial plans.
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March 28- Outsourcing and consulting services provider Accenture Plc reduced its forecast for revenue growth, saying its consulting business was still being hurt by a slowdown in corporate discretionary spending, especially in Europe.
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BANGALORE/ MUMBAI, March 25- India's IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.
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MUMBAI, Feb 22- A former Infosys Ltd executive is challenging the IT outsourcing industry's billing model by charging for results instead of basing fees on the time and labour put in by the armies of staff working for India's big firms.
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MUMBAI, Feb 18- India is aggressively pursuing tax claims against multinational firms operating in the country as the government seeks to rein in its budget deficit, taking particular aim at IT and back-office functions, tax officials say.
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Feb 7- IT services company Cognizant Technology Solutions Corp's quarterly profit modestly beat estimates, boosted by a jump in demand from Europe after quarters of tepid growth in business from the region.