13-10-2011 !! Today's Top News !!

ü  Sony Recalled 1.6 mn Bravia flat-Panel  TVs sold worldwide since 2007 because a faulty component may cause them to melt or catch fire.

ü  Microsoft has launched the latest version of its Smartphone OS windows phone 7.5, code named ‘Mango’  in India.

ü  Apple Launches iCloud After Online products Misfire:

o   Apple’s iCloud service may cement the loyalty of millions of consumers lured by Job’s pioneering mobile devices over the past decade, if the service works as advertised- something Apple’s previous online products haven’t achieved.

ü  Social Gaming Company Zynga to step up Hiring in India:

o   Zynga have started hiring aggressively for its Bangalore office said Cadir Lee , CTO , where it unveiled many new products.

ü  Wall street executives, facing demonstrators camped for a 4^th week in New York’s financial district, saying they’re anxious and angry for other reasons. An Era of decline and disappointment for bankers may not end for years, according to interviews with more than two dozen executives and investors.

ü  SEBI and IRDA are finalizing rules for mutual funds and Insurance companies to buy credit protection through credit default swaps or CDS, as Norms for trading in the product issued by the RBI, are set to kick over in the next few days.

ü  Infy back on track with 9.7% Jump in Q2 Profit:

o   The 2^nd quarter results beat expectations, causing the stock markets to conclude that India’s 2^nd largest software exporter and the IT services sector have regained the spring in their step.

ü  Iron ore problems threaten to shake Jindal’s steel Empire:

o   4 months ago, Sajjan Jindal’s raced past Tata Steel to emerge as India’s 2^nd largest steelmaker.

o   But he dint get too much time to enjoy the view from the top. A series of abrupt and unexpected events have since hit iron ore supplies, stalling production at his plant in Vijayanagar.

o   Now it’s running at just 30% of the installed capacity of 10 mn tonnes.

ü  The stock of New Delhi based HCL Infosystems has fallen over 50% during the past one year in comparison with a 20% drop in the benchmark indices. The poor performance on bourses reflects the disappointing financial performance of the company in the past two quarters. Company aims to grow by expanding rural footprint and improving efficiency.

Have a nice day !!

Regards,

Karan