2. Porsche employees banned from social networking: Luxury car manufacturer Porsche has banned employees from using internet sites such as Facebook, Google Mail or Ebay during office hours, for fear of industrial spying. Company believes that foreign intelligence agencies systematically use Facebook to contact company insiders and win their trust in order to obtain information. Roughly a quarter of Porsche's 13,000 global employees use Facebook and other social networking sites.
3. Tech power India fails keep CWG website up and running The Commonwealth Games official website has gone for a toss. Far from being uploaded automatically almost in real time, the website has been painfully slow, often well behind private media sites. This has virtually shut down an important window on the Delhi Games for the wider world. The mess is the result of an expensive piece of technology, the Timing, Scoring & Results (TSR) system, a key requirement in modern sporting events. According to the experts, miscalculations in determining bandwidth output could be the reason behind the flop showing of the multicrore TSR system.
4. Errors on website: USA, Japan in Commonwealth! If you go by the Games official website, Korea, Japan, the Phillipines and even the US are participating nations! The Games are nearly a week old, but the errors are yet to be removed. Great Britain has been listed as a participating country, even though Scotland, Northern Ireland, Wales and England are fielding separate teams.
5. UmeshModi group enters liquor business UmeshModi Group, which owns Modi Sugar and has interest in consumer and specialty goods, has signed a joint venture with Italian spirits maker IllvaSaronno to enter the Indian spirits market. The 50:50 venture, christened ModiIllva, will first launch Illva’s luxury vodka brand, Artic, in the Indian market, The UmeshModi Group, which owns and markets prominent brands such as Betadine and Modi Revlon in India, is targeting $100 million turnover for its liquor marketing business Main aim is to capture a 10% market share of the vodka market in next three years, which is growing at 30% annually.
6. Improve US education system to compete with India, China, says Obama: Decrying the Republican plan to cut education funding by 20%, President Barack Obama today highlighted the need for quality education in the US in order to compete with countries like India and China. He said that authorities have launched 'a Race to the Top' scheme in the states to make sure that all students are graduating from high school are ready for college to meet the goal of graduating a higher proportion of students from college than any other country in the world by 2020
7. Emerging Europe stuck in 'debt shadow' of West: World Bank Eastern and Central European countries could face another economic slowdown if their Western neighbours cannot gain control of their finances, the World Bank warned. Region could once again suffer weak demand for their exports as Western governments cut spending to bring their public finances in line. Growth in emerging European and Central Asian economies will recover to 3.9 percent on average in 2010, the World Bank forecast, after a massive contraction of 5.1 percent in 2009. Europe's developing economies needed to boost domestic demand or rely on the 'dynamism' of their Western neighbours if they hope to maintain growth in the longer term,
8. Mercedes-Benz R-Class launched: Priced at Rs.58.75 lakh (ex-showroom Mumbai) and comes with the E350 V6 petrol engine. Seven-seatermulti-purpose vehicle Equipped with the latest BlueEfficiencytechnology,anenvironment-friendly vehicle in the premium car segment. Expect a mileage over 13 kilometers per litre, then again this figure is nearly 7% better than the fuel economy of Merc-Benz.
9. Axis Bank tells staff to shape up: Axis Bank’s 23,000 staff would be on their toes as the lender introduces provisions to terminate employment for non-performance. The bank’s net profit grew 39% last fiscal and it has one of the highest profitability with net interest margins at more than 4%. Axis’ human relations policies are changing after recommendations from Cerebrus Consultants and Hewitt Associates that advised on compensation package to make it meaningful where youngsters choose cash over stock. “If at the end of the appraisal there are any non-performers, they will be put under a coaching programme or given a change in job profile,”. “If despite all this they fail to perform, there is an enabling provision for termination of services.”
10. China to be second richest country by 2015: China is expected to overtake Japan as the second wealthiest country in the world by 2015 on the back of rapid economic growth and strong domestic consumption. In its inaugural Global Wealth Report, Credit Suisse Research Institute predicts total wealth in China will more than double in five years, jumping 111 percent to 35 trillion US dollars. "Ten years ago, China was the seventh largest country in global wealth. Since then, the country has accelerated past major European countries. United States currently has the largest share of wealth in the world, amounting to 27 percent of 195 trillion dollars. Japan comes in at second place with 11 percent and is trailed by China with eight percent.
