Securities and Exchange Board of India (SEBI), the Indian stock markets regulator, has imposed a heavy fine of $1.1 billion (INR 72.7bn) on New Delhi-based real estate firm PACL Ltd for illegally raising funds to the tune of INR491 bn from the market. Sebi has further directed PACL Ltd to cough up the fine amount within 45 days from the order date. The fine amount is the biggest penalty so far that SEBI imposed on any company.
Regions
Google's Alphabet aims to disrupt health care industry; opens space for tech startups
What once was a vision of the future of health care in science fiction is now becoming a reality as Google's Alphabet sets its eyes on solving health care issues. Doctors' function in treating and maintaining peoples' health will be done efficiently and cheaply by machines run by technological algorithms in the near future. These advances require a disruption in the status quo, which will definitely not come from the government or other current healthcare providers, but from entrepreneurs, like Google's Alphabet.
Starbucks expands Mobile Order & Pay Service in 7,500 cafes in U.S.
Starbucks Corp announced on September 22 that its successful Mobile Order & Pay service is now offered in all its almost 7,500 US shops. According to Reuters, this goal is achieved three months earlier than expected. Some additional 3,400 cafes will get the new online service. These cafes are located in notable cities such as San Francisco, New York, Washington D.C., Chicago, and Boston.
Swiss Re to buy Guardian Financial Services for $2.45B
Switzerland reinsurer Swiss Re AG has decided to acquire the UK-based Guardian Financial Services from private equity (PE) firm Cinven for GBP 1.6 billion ($2.45bn). The acquisition will help in strengthening the British business of the unit.
Zscaler raises $25mn from Google Capital to close $110-mn round
Zscaler, a California-based cloud security firm, has mobilized $25million from Google Capital, an equity investment arm of Google. Adding to the oversubscribed round, the total amount raised by Zscaler reaches $110mn. The cyber security firm raised $85million in August. Zscaler was waiting for a strategic partner to close the round. Google Capital is engaged in late-stage financing activity.
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German automaker Volkswagen Group is under scrutiny after it was found by the U.S Clean Air Group that some of its cars did not pass the standard emission test. The test conducted by Peter Mock and John German revealed another scandal - the use of "defeat device" software in its cars.
Since Apple made it easier for developers to create ad blockers, blocker apps gained revenue in the App Store. Reports said this is an absolute danger for Google and web publishers. In June, The Next Web reported Apple Inc. has provided tools for developers to create apps that block web ads. The tools are exclusively only for iOS9's default browser Safari.
The Office of Personnel Management today said that some 5.6 million fingerprints were stolen by the hacker and not 1.1 million like it was previously reported. The new data came after the agency had conducted further investigation together with the Department of Defense.
Plans for setting up a Boeing factory in China has been submitted to the Beijing Government. It was reported Tuesday by the state-run media ahead of President Xi Jinping's U.S. visit, where he will tour one of its plants.
With the European court judgment's awareness, UK aviation regulators started enforcing the budget airline Ryanair, to compensate thousands of delayed passengers. The statement came after hours after a final ruling from the European court of justice opened the floodgates for compensation claims against airlines that could reach into hundreds of millions of pounds, as reported by The Guardian.
Volkswagen's manipulation in emission norms is rocking Germany following the latest resignation of CEO Martin Winterkorn. Analysts forecast that the recent developments at Volkswagen will have an impact on business and politics in Europe's largest economy.
Photoshop maker Adobe System Inc's quarterly revenue jumped 21 percent, thanks to the better-than-expected increasing number of subscribers to its Creative Cloud software suite. Reuters wrote that Adobe's net income increased to $174.5 million, which is 34 cents per share in the end of the third quarter on August 28. Last year, on the same period, that number was only $44.7, or 9 cents per share. Meanwhile, its revenue went up to $1.22 billion from $1.01 billion.
New versions of Microsoft Office apps are out. Subscribers to Microsoft's cloud-based subscription service Office 365 may now download the new apps, including Word, Excel, and PowerPoint. Updated versions of Outlook, OneNote, Project, Visio, and Access are also available.
Reviews about the new iPhone 6S are all over the internet, and most are ridiculously impressed with the advancements of the device. From its 3D touch to its iOS9, it seems everything has changed for Apple's flagship device.
