Naukariadda

IBM Chairman and CEO Arvind Krishna attributed the company's weaker-than-expected second-quarter performance to an unexpected shift in customer spending towards AI infrastructure, including servers, storage and memory, to secure supply-constrained hardware, which affected its Software and Infrastructure businesses.Shares of the company fell over 26% to $213.22 following the update, which was their biggest intraday loss in 58 years, according to a Bloomberg report.IBM said preliminary second-quarter revenue stood at $17.2 billion, missing analysts' expectations of $17.9 billion. Revenue from its Infrastructure division fell 7%, while preliminary diluted earnings slipped 2% to $2.27 per share. The company said it is still finalising its financial statements, with official quarterly results due next week and subject to minor revisions.Krishna said customer spending priorities changed sharply in the final weeks of June.“In the last few weeks of June, we saw clients shift their quar...

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The India-UK Comprehensive Economic and Trade Agreement, which comes into force on July 15, almost a year after it was signed, will give immense opportunity to Indian exports to garner higher market share.Kirtika Suneja takes a look at the bilateral trade landscape, gains and the hurdles overcome to achieve the historic deal:Bilateral goods trade between India and the UK has steadily expanded over the past five years. India's exports rose from $10.4 billion in FY22 to $13.4 billion in FY26, while imports increased from $7.1 billion to $11.7 billion during the same period.132351512The FTA resolves key trade barriers by excluding India's steel exports from the UK's proposed safeguard measures and addressing concerns around the UK's Carbon Border Adjustment Mechanism (CBAM). Around 85% of India's steel exports remain outside these measures, with iron and steel exports to the UK valued at $893 million in FY26.Also read: Want a Rolls-Royce or Land Rover? Premium cars to ...

Mumbai: Corporates will have to spell out the anti-money laundering and due diligence measures undertaken on overseas business partners and co-investors in foreign joint ventures and subsidiaries, and describe the processes followed in carrying out these checks.Such information, rarely, if ever, sought earlier, will be gathered by banks from corporate clients with overseas direct investments (ODIs) and shared with the Reserve Bank of India (RBI).Amid concerns that some overseas investments may not flow into bona fide businesses, questions on credential and know-your-customer (KYC) checks of foreign partners feature in a long list of probing queries from the regulator.132351222Besides key financial data since 2021-22, corporates have been asked to disclose energy consumption, R&D expenditure, headcount and employee costs of every foreign entity, and clarify whether these entities have physical offices and take independent business decisions.ET has reviewed RBI's questionnaire se...

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