As we expected earlier today, eBay has confirmed an all cash $75 million acquisition of social discovery service StumbleUpon. eBay says StumbleUpon fits will with their “goal of pioneering new communities based on commerce and sustained by trust” and helps them learn more about newly emerging community based businesses.
Although you can imagine “StumbleUpon Shopping” [...]

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Indian Hotels Company Ltd’s [Get Quote] Ginger Hotels will invest over Rs 204 crore (Rs 2.04 billion) to set up 17 budget hotels in tier-II cities in the next 12 months.
“In the next 12 months, the total number of Ginger hotels will go up to 25 from the current eight. Each 100-room Ginger [...]

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Cell phone maker Motorola Inc said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
The company already is in the process of eliminating 3,500 jobs as part of a two-year cost-cutting plan to save $400 million. “Those layoffs, [...]

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Karunanidhi’s birthday is just three days away but there’s a party pooper as former Telecom Minister Dayanidhi Maran’s promise of zero roaming charges is unlikely to happen.
The new minister, DMK stalwart, A Raja hasn’t been able to convince state owned telecom companies to scrap roaming charges.
Though India’s largest telecom [...]

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NEW DELHI: Vodafone announces that it will sell the first tranche of its stake in Bharti Airtel by March. The company has decided to off-load 5.6% of its shares in Bharti Airtel for $1.6 bn.
Vodafone stake sale in Bharti Airtel works out to be Rs 607 per share. The [...]

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The Centre on Tuesday said it is working on a scheme to refund local taxes and levies to labour- intensive industries with little import content, to offset the impact of the appreciating rupee, which ended at a nine-year high yesterday.
“The rupee appreciation is a cause of concern for exporters and manufacturing firms… we are looking [...]

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