Company News

Apple withdraws iPhone ad over speed claims

Apple reports record third quarter resultsLondon, Nov 26 : Apple has withdrawn its iPhone 3G ads after UK advertising regulations received complaints that the company is misleading consumers by exaggerating the speed of its hugely popular smart phone.

The Advertising Standards Authority (ASA) upheld complaints about a television ad for the iPhone 3G which boasted of the gadget''s "really fast" performance.

ASA advocated complaints about a television ad for the iPhone 3G which boasted of the gadget''s "really fast" performance.

NETGEAR Launches First Six-Bay Desktop Network-Attached Storage Solution For SMBs

NETGEAR Launches First Six-Bay Desktop Network-Attached Storage Solution For SMBsNETGEAR®, Inc, a global supplier of technologically advanced, branded networking solutions, has launched the industry's first six-bay desktop network-attached storage solution (NAS) for small- and medium-sized businesses (SMBs).

Targeted to meet the centralized network storage needs of up to 200-user SMBs, NETGEAR's ReadyNAS® Pro Gigabit Desktop Storage family delivers high availability, high performance, expandability, and serviceability in a lucrative unit that is user-friendly and speedy to deploy.

Sterlite Shuts Tuticorin Unit

Sterlite Shuts Tuticorin Unit India’s largest copper producer, Sterlite Industries has closed its Tuticorin utility following the failure of main cooling arrangement. The Vedanta Group company is expected to suffer a production loss of 23,000 tn following this closure. It is already facing low demand of copper due to international credit crisis. The company is producing copper at low rates as it is not getting any new orders from the market. It had 43% market share in copper business in 2005-06 and its 64% of sales came from export in the reporting year.

Airlines Cut Transaction Fee From Today

Tickets From Airline Office To Cost Less Airways, Kingfisher and Air India have decided not to levy any transaction fee on air tickets from tomorrow. It would result in cheap air tickets from the airline office or website but customers have to pay Rs 350-Rs 10,000 more if they purchase tickets from travel agent. The representatives of all leading air carrier held a meeting with Travel Agents Federation of India (TAFI) and apprised them about the decision.

Firstsource Cuts Revenue Guidance For FY09

Firstsource Cuts Revenue Guidance For FY09 Back-office firm Firstsource Solutions has revised its dollar revenue guidance for 2009 to 21% following international financial crisis and volatility in the stock market. Earlier, it had projected 33-38 per cent revenue guidance for the ongoing fiscal.

Managing Director and CEO of country’s third largest pure play BPO, Mr Ananda Mukerji said, “There is a slowdown everywhere and hence volumes are not as robust as we would have liked it to be. Though seven of our top 10 customers have increased their business with us, the increase is not to the degree we had anticipated.”

HCL Technologies To Take Over Axon

HCL Technologies To Take Over AxonHCL Technologies Ltd, India's fifth largest IT company's mega-acquisition of UK-based SAP consulting company Axon Group, is nearly complete. HCL chief executive Vineet Nayar said "Axon investors by majority (99.9 per cent) accepted our cash offer of 650 pence ($9.78) per share. The deal will be finalised after the court approval Dec
15."

Meanwhile, the Delhi-based HCL informed the Bombay Stock Exchange (BSE) that a London court had also cleared the scheme of arrangement to implement the acquisition by its subsidiary HCL EAS Ltd.

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