Even in a “runaway Artificial Intelligence (AI)” scenario, robots will not render people completely jobless, Microsoft CEO Satya Nadella told The Sunday Telegraph in an interview.

People will always want a job as it gives them “dignity”, Nadella said, adding that the focus should instead be on applying AI technology ethically.

Indian IT services giant Wipro is "localising more" in the US and more than half of its workforce in the country now consists of locals, the company's Chief Strategy Officer Rishad Premji said asserting that the firm is very committed to the US market.

Premji, who is Member of the Board at Wipro, said Wipro currently has a workforce of over 14,000 employees in the US and 58 % of those are locals.

Larsen & Toubro's construction arm has won orders worth Rs 5,704 crore in domestic market.

"The water and effluent treatment business of L&T Construction has secured orders worth Rs 5,704 crore," the engineering and construction major said in a BSE filing.

Tata Motors and supply-chain management players like Jusda and Arshiya are among the 50-odd companies that have expressed interest in Jawaharlal Nehru Port Trust's (JNPT) land that is now up for auction, sources said.

The plots are being leased out by JNPT for its free trade warehousing zone (FTWZ) and special economic zone (SEZ), the bidding process for which has begun.

NEW DELHI: The Department of Telecommunications (DoT) may clear Idea Cellular’s proposal to increase foreign direct investment (FDI) to 100% in the company within a week, having received all necessary documentation from the Aditya Birla group company and Vodafone India, senior officials said.

Mumbai: The Indian rupee on Monday strengthened for the third session to a two-week high against US dollar after crude oil prices posted its biggest drop in about a year and the US-Korea summit appears to be back on track.

At 9.15am, the home currency was trading at 67.51 against the US dollar, up 0.43% from its previous close of 67.77. The currency opened at 67.50 a dollar and touched a high of 67.45—a level last seen on 11 May.

The government is exploring an exercise to move a chunk of IDBI Bank’s stressed loans to the books of State Bank of India (SBI). Understandably, the top management at the country’s biggest lender is unhappy with the idea of toxic assets being foisted on them, sources told FE.

NTPC Dadri on Sunday synchronised the 490 MW unit, bringing an additional 300 MW to the power grid.

The Plant was closed on technical ground on May 25. Besides, due to coal supply shortage the plant could produce only 60 per cent of the installed capacity.

MUMBAI: Amazon is leading a $12-million funding round in online-only insurance startup Acko General Insurance, as the e-commerce major takes a bet on the financial services segment in India. Ashish Dhawan, the founder of private equity fund ChrysCapital, has also joined the latest round, along with existing investor N R Narayana Murthy’s Catamaran Ventures.

Digital payments company Paytm today said it does not share data of its users with any third-party or government. “We never share your (user) data with anyone: any company/ any government or any country. At Paytm, your data is yours. Not ours, or of a third party, or of the government,” Paytm said in a blogpsot today. It added that its policy allows only legally-compliant data requests from the law of the land to get access to data for necessary investigations.

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