Mumbai: Analysts have slashed their profit estimates for Indian lenders by the most in two years amid renewed concerns over the nation’s sluggish credit growth and rising bad loans.

Twelve-month earnings projections for members of the S&P BSE India Bankex Index fell 3% last month after the banks published their reports for the year ending 31 March, estimates compiled by Bloomberg show.

Microsoft Inc’s future in mobile devices likely hinges on the software maker’s ability to convince developers to create apps for the phone version of Windows 10 after its ill-fated Nokia acquisition helped trigger 7,800 layoffs.

The job cuts announcement is an acknowledgement that its 2013 $7.2 billion purchase of Nokia was never going to help paltry sales of its Windows Phone, and that it needed a new approach.

MUMBAI: Public sector lender Bank of BarodaBSE 1.55 % today cut base rate by 10 basis points to 9.9 per cent effective from July 13, 2015.

In a filing to the Bombay Stock Exchange, Bank of Baroda said that is reduced Base Rate by 10 basis points from 10.00 per cent to 9.90 per cent and also to reduce Bench-mark Prime Lending Rate (BPLR) by 10 basis points from 14.25 per cent to 14.15 per cent. The reduction in both rates will be effective from July 13, 2015.

BSE Sensex and NSE Nifty were butchered in last session under influence of Chinese free fall. Today, the start is likely to be cautious and some stabilization can be expected after the steep fall.

Traders will be getting some support with global rating agency Standard & Poor’s statement that the confidence level in India continues to grow amid indications of slower growth ahead for the Asia-Pacific region.

Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.

TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.

YES Bank has completed the placement of Rs 554 crore of Basel-III compliant Tier-II bonds at a coupon rate of 9.15 per cent with a tenor of 10 years.

The issue closed on June 29 and the bank said it witnessed strong demand from investors, including insurance companies and pension and provident funds, resulting in a total subscription. The management said the capital had been raised to augment the bank's capital base and to employ it for growth.

Microsoft Corp, the world’s largest software company, plans to announce a new round of layoffs as early as Wednesday as it tries to cut costs further, the New York Times reported.

The latest job cuts are in addition to the 18,000 jobs Microsoft said it planned to cut a year ago, the newspaper said, citing sources familiar with the matter.

The project is already under construction. The data center will consist of three 250,000-square-foot buildings sprawled across the 111-acre site. When the Fort Worth data center comes online in late 2016, it will be 100% powered by 200 megawatts of wind energy and cooled using outdoor air instead of air conditioners.

In a post, Ken Patchett, Facebook’s Director of Data Center Operations stated that the project has been undertaken to bolster Facebook’s growing global infrastructure, be it Facebook on desktop and mobile or Internet.org., reports Mashable.

Shares of YES Bank have dipped 7% to Rs 800 on the NSE after foreign brokerage UBS downgraded the private sector lender to ‘Sell’ with a price target of Rs 740.

The stock hit a low of Rs 795 so far and has seen a combined 7.02 million shares changing hands on the counter on the NSE and BSE till 1253 hours.

When I was listening to Pharrell and Justin Timberlake (assumedly stoned out of their minds) ramble about the meaning of art with Cara Delevigne on Beats 1 over the weekend, I came to the sudden realization that the product that I had been listening to was the future of Twitter.

Apple Music is far from the most intuitive product Apple has pushed out, but the features they’ve finessed that emphasize discovery and live curated content are exactly what Twitter has been missing.

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