Bharti Airtel to buy Tikona's 4G business for $244 million
Telecommunications company Bharti Airtel said it would buy internet services provider Tikona Digital Networks' 4G business in a deal worth 16 billion rupees ($244.20 million).
HELSINKI Finnish mobile phone maker Nokia NOK1V.HE said it would cut over 1,000 information technology jobs as part of its restructuring plan aimed at stanching its cash bleed.
It said 820 employees will transfer to HCL Technologies (HCLT.NS) and Tata Consultancy Services (TCS.NS) while 300 jobs will be elminated altogether.
The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under Chief Executive Stephen Elop.
Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's (AAPL.O) iPhone and Samsung's (005930.KS) Galaxy phones in the lucrative smartphone market.
Nokia shares were flat, while HCL shares rose 4.8 percent and Tata Consultancy shares rose 1.2 percent in Mumbai.
(Reporting by Terhi Kinnunen and Ritsuko Ando; Editing by Hans-Juergen Peters)
WASHINGTON Jay Clayton, the Wall Street attorney tapped by President Donald Trump to lead the U.S. Securities and Exchange Commission, on Thursday defended himself against Democrats' charges that multiple conflicts of interest would force him to miss too many SEC votes.
BOAO, China India's top software services exporter Tata Consultancy Services will step up local hiring in the United States and has no plans to cut investments there as it continues to expect robust growth from its biggest overseas market.