European Union (EU) approved Microsoft acquisition of LinkedIn Corporation
- The European Union (EU) on 6 December 2016 approved Microsoft’s USD 26 billion acquisition of LinkedIn Corporation.The EU’s clearance was the final hurdle to closing the deal, following approvals in the U.S., Canada, Brazil and South Africa.
- The Executive Arm of the European Commission stated that it was clearing the deal on the condition that, Microsoft, postmerger, will allow other professional networking sites access to programming commands for its Office applications and cloud-computing services for the next five years.
- The EU also said that the Microsoft must also grant computer manufacturers the option not to install the LinkedIn shortcut on desktop devices.
Amazon Launches Its Startup Program
- Amazon launched it’s startup programme ‘Launchpad‘ in India to support Indian startups and scale up their business.
- Thus, Launchpad will help startups launch, market, and distribute their products to Amazon customers across India and around the world via a dedicated store.
KPMG and Microsoft partner for digital transformation
- KPMG in India and Microsoft India have established a strategic IoT Advisory partnership.
- This will enable them to combine their advanced technologies, industry insights, and creative thinking to accelerate the digital transformation of large and mid-market Indian enterprises.
Airtel Payments Bank to offer talk-time on new savings account
- Airtel Payments Bank, the first payments bank in India introduce that any customer opening a savings account with it will get one minute of talk time on his/her Airtel mobile for every rupee deposited.
- If a customer opens an account with a deposit of Rs1,000 then he/she will get 1,000 minutes of free talk time on his/her Airtel mobile number.
- The talk time can be used for calling all over India and is applicable on first time deposits only.
- The offer will be valid from Airtel to Airtel mobile minutes with a validity period of 30 days.
Reliance fined Rs 500 for ads but have gain them more than 500+ Cr Revenue
- Reliance Jio’s found guilty for breaching the Emblems and Names (Prevention of Improper Use) Act 1950 through controversial decision to use PM Modi’s photograph in front-page newspaper ads could receive a paltry fine of Rs. 500.
- The Emblems and Names (Prevention of Improper Use) Act 1950 prohibits the improper usage of emblems and names for professional and commercial purposes.
Bombay Dyeing closed its manufacturing
- Bombay Dyeing Manufacturing Company eastablished on 1879 by Nowrosjee Wadia and considered as one of the oldest textile businesses in India, officially closed its manufacturing operations on 1 December 2016.
- The company was known for producing quality home textile products at two prime locations in Mumbai.
- The group is presently led by Nusli Wadia and will continue its retail operations under ‘Bombay Dyeing’ brand.
- In 2005, the company moved the manufacturing base from Mumbai to Ranjangaon near Pune.
Coal India Arm Signs Pact with SBI Caps
- Central Mine Planning and Design Institute Ltd (CMPDI) the consultancy arm of Coal India Ltd has signed a MoU with investment banker SBI Capital Markets with the aim at tapping each other’s strengths to increase their respective market share.
- The MoU covers areas like providing help for due diligence for the overseas coal and mineral properties for clients &advising bidders.
Amazon sell Amul’s products online in the United States
- E-commerce giant Amazon is going to sell popular Indian dairy brand Amul’s products online in the United States thus mark the dairy brand’s first official entry into the online space in the US.
- The alliance is a part of Amazon’s Global Selling Programme, which was launched in India in May 2015. It will bring the brand’s products within reach of American consumers.
- Though it is already selling its products there through traditional retail channels for the past 20 years, this move would expand its reach to a larger audience.
Reliance will sell radio and Tv business
- Anil Ambani-led Reliance Capital will sell 49% stake in its radio business and its entire TV business to Zee group, as announced on 23 November 2016.
- RBNL runs a network of FM Radio channels in India under the brand name of 92.7 Big FM that reaches out to 45 cities, 1,200 towns and over 200 million people. Big FM was launched in 2006.
- While Zee Entertainment Enterprises Ltd, a separate entity under Zee Group, will acquire entire TV business of Reliance’s General Entertainment. The general entertainment TV broadcasting business currently comprises of two channels – Big Magic and Big Ganga.
- The stake sales are expected to reduce Reliance Capital’s debt by approximately Rs.1,900 crore.
Drone confirmed the new campus of Apple Inc
- Drone video shows the new campus of Apple Inc. located in Cupertino, California.
- New campus is accounted for 176-acre and would include wooded walking areas, restaurants and a 100,000 square foot fitness center. The main building spans 2.8 million square feet and is more than four stories high. There is also an underground 1000-seat auditorium.
- As per Apple, expects to move in around 12,000 of its employees when the project is complete in early 2017.
- The campus will become the company's new headquarters and is located about one mile east of its current headquarters in Cupertino. The website also says the facility will run on 100 percent renewable energy.
- Apple bought most of the land for the campus from Hewlett Packard, where late Apple co-founder Steve Jobs got one of his first summer jobs after calling HP founder Bill Hewlett to ask for spare parts. Jobs personally showed the architectural plans for the new campus to the Cupertino city council in 2011, despite being ill at the time.
