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US officials raise alarm about 2018, 2020 election security WASHINGTON (AP) â" President Donald Trump has directed a "vast, government-wide effort" to protect American elections after Russian attempts to interfere in 2016, the White House said Thursday. Archives: Kavanaugh documents not ready until October WASHINGTON (AP) â" The National Archives and Records Administration said Thursday it won't be able to complete its review of nearly 1 million documents regarding Supreme Court nominee Brett Kavanaugh's time in the George W. Bush White House until the end of October. Manafort's bookkeeper: 'He approved every penny' ALEXANDRIA, Va. (AP) â" Paul Manafort's bookkeeper testified Thursday that the former Trump campaign chairman kept her in the dark about the foreign bank accounts he was using to buy millions in luxury items and personal expenses. - After he was the last man out with about 30 minutes left of the day, Kohli was given a standing ovation around Edgbaston, with England fans also showing their appreciation of one of cricket's box-office talents.
- Kohli's 149, which will rank amongst one of the finest hundreds by an Indian batsman on English soil, enabled the visitors to reach 274.
Cognizant to cut senior-level jobsThe company did not specify the number of senior employees being targeted in this round of layoffs. How China plans to keep Imran Khan closeWith US cutting military aid to Islamabad, Imran Khan may not have a choice but to choose China. One-time settlement of VAT, excise disputes in the works Government may extend deadline for imposition of higher tariffs on 29 US products by 45 days The two sides are also gearing up for the Two-Plus-Two dialogue in September that will cover a broad range of bilateral, regional and global issues. Cognizant to trim top deck to make room for juniors The company did not specify the number of senior employees being targeted in this round of layoffs. Cognizant to cut senior-level jobs BENGALURU: Cognizant said it would look to cut senior-level jobs and would incur as much as $35 million in severance costs during the rest of the year, even as it reported second-quarter revenue that missed analystsâ expectations.The Teaneck, New Jersey-headquartered companyâs attrition was over 22% in the second quarter, a rate the company attributed to its stricter performance management moves and increasing global demand for tech talent. Cognizant had already slashed headcount by as much as 4,000 in 2017 and had previously offered nearly 400 senior executives a voluntary retirement scheme.âThis one is really targeted towards the senior end of the pyramid. It is not voluntary, this is more involuntary. We are trying to clean up the higher end of the pyramid and allow our associates to grow,â Raj Mehta, president at Cognizant, told ETin an interview. He did not specify the number of senior employees being targeted in this round of layoffs.He pointed that this was a global exercise and was not focused on a particular region and that the companyâs headcount had grown in the quarter. Cognizantâs headcount rose by 7,500 in the second quarter to 2,68,900. Reject Reliance Communications' plea to quash insolvency proceedings: Ericsson NEW DELHI: Ericsson has urged the Supreme Court to reject a plea by Reliance Communications seeking the quashing of insolvency proceedings against it, saying such a move will rob the Swedish telecom equipment maker of security for dues to be paid by the telco.The apex court will decide the matter on Friday.Debt-ridden RCom filed a petition a week ago, asking the court to stop the insolvency proceedings against it. It also sought to quash a clause by an appellate tribunal making the completion of the carrierâs Rs 18,000 crore asset sale to Reliance Jio Infocomm and Canadaâs Brookfield conditional on paying Ericsson Rs 550 crore by September 30. Funds from the planned asset sale are to be used to repay a consortium of 39 lenders to RCom, which has debt of some Rs 46,000 crore.The Anil Ambani-owned telco told the top court that the clauses are eroding the value of its assets since buyers are unwilling to go ahead. According to legal sources, RCom needs to complete the asset sale by August 27, otherwise it will be pushed back into insolvency again.Theoperator,which shut its wireless telephony services in late 2017, said on Thursday its management was willing to pledge payment of the settlement amount of Rs 550 crore to Ericsson by September 30, failing which the insolvency proceedings can restart. But for now, it sought quashing of the process.However, the counsel for Ericsson said if the company accepts RComâs terms and the payment does not happen, it would be left in the lurch.âSuch proposed modification completely takes away any security of payment to the respondent (Ericsson),â it said in the affidavit filed earlier this week.The affidavit added that in case the operator wants any changes in the National Company Law Appellate Tribunalâs earlier order, then it has to âimmediately pay the amount of Rs 550 croreâ¦â RCom has signed deals to sell its wireless assets to Reliance Jio and some land to Brookfield for about Rs 18,000 crore. The funds will be used to pare its debt.The company managed to stave off insolvency proceedings, accepted by the dedicated bankruptcy court in May, when it decided to settle its dues with Ericsson before the NCLAT.Ericsson had signed a seven-year deal in 2014 to operate and manage RComâs nationwide telecom network. The company alleged it had not been paid over Rs 1,000 crore.The appellate tribunal had ordered that if RCom and its units do not pay Ericsson the promised amount by the due date, which is September end, then all the proceeds from its asset sale will be reversed and the telco will be pushed into insolvency again.However, in its petition filed to SC last week, RCom said that both bankers and buyers had protested this clause. While Jio is wary that if later on challenged by Ericsson, the sale will be revoked, bankers are afraid that their recovered money would be lost as well, said the operator. Except for Acme, Solar Energy Corporation cancels all projects allotted in July 13 auction BENGALURU: Solar Energy Corporation of India (SECI), the nodal agency for implementing National Solar Mission, has cancelled all but the lowest priced projects allotted in its mega solar auction held on July 13, multiple people familiar with the development told ET.The decision to cancel allotment of 2,400 MW solar power capacity out of 3,000 MW auctioned in July was announced at a meeting of developers with government officials and SECI on Wednesday, they said.The only developer that did not get the axe was Acme Solar that won 600 MW quoting the lowest tariff of Rs 2.44 per unit.The government found all the other allotted projects to be too expensive, developers said.âThey said the difference between the lowest bidder and the second lowest was 20 paise, which was too wide,â said a developer who was present at the meeting. Ministry of new and renewable energy secretary Anand Kumar, who chaired the meeting, declined comment.The cancelled projects include 1100 MW won by SB Energy, a joint venture between Japanâs SoftBank, Taiwanâs Foxconn and Bharti Airtel, and 500 MW won by ReNew Power, both of which quoted Rs 2.71 per unit, besides 300 MW each won by Mahindra Solar and Mahoba Solar (part of the Adani Group) that quoted Rs 2.64. âApparently the SECI board decided this,â a power sector official said. âThe highest winning bid was Rs 2.71, which was felt to be very high. The developers concerned refused to lower their prices any further. This was felt to be not competitive,â the person told ET. Cognizant to trim top deck to make room for juniors BENGALURU: Cognizant said it would look to cut senior-level jobs and would incur as much as $35 million in severance costs during the rest of the year, even as it reported second-quarter revenue that missed analystsâ expectations.The Teaneck, New Jersey-headquartered companyâs attrition was over 22% in the second quarter, a rate the company attributed to its stricter performance management moves and increasing global demand for tech talent. Cognizant had already slashed headcount by as much as 4,000 in 2017 and had previously offered nearly 400 senior executives a voluntary retirement scheme.âThis one is really targeted towards the senior end of the pyramid. It is not voluntary, this is more involuntary. We are trying to clean up the higher end of the pyramid and allow our associates to grow,â Raj Mehta, president at Cognizant, told ETin an interview. He did not specify the number of senior employees being targeted in this round of layoffs.He pointed that this was a global exercise and was not focused on a particular region and that the companyâs headcount had grown in the quarter. Cognizantâs headcount rose by 7,500 in the second quarter to 2,68,900. - AIR PLATFORMS
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Thursday, August 2, 2018
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