Hooray, Maya Shuts Down Reliance Supermarkets

Uttar Pradesh Chief Minister Mayawati has shut down 10 Reliance Industries superstores after protests by small traders and political activists. Five supermarkets run by another Indian retail chain Spencer’s have also been shut down. Mayawati, who became Chief Minister of Uttar Pradesh recently, after a resounding victory, said: I have constituted a high-level committee to […]

More Problems at Dell

It seems like there’s no end in sight to Dell’s problems. Just after disclosures of fraud in its accounting, Dell’s having serious problems shipping some of its laptops and desktops. The problems couldn’t have come at a worser moment for Dell because the lucrative Back to School season is getting started in the U.S. The […]

TechProcess Snags Greylock Investment

U.S. venture major Greylock Partners has invested in Indian electronic payment processing outfit TechProcess Solutions (formerly BillJunction). The size of the investment has not been disclosed. Greylock executives Asheem Chandna and Ganesh Rengaswamy are managing the investment in TechProcess. TechProcess was originally backed by ICICI Ventures. TechProcess’ CEO Bikramjit Sen was an ICICI executive in the […]

VSNL Late to Party with New Phone Service

Several years after Tel3, Pingo and Reliance rolled out their card-less phone services to India, VSNL is rolling out a similar me-too international calling service for South Asian immigrants in the U.S. Dubbed Trueroots, the service was unveiled at a function on August 16 in New York City. The per minute rates for the calls, […]

Reporters Sue HP over Dirty Tactics

A bunch of reporters from CNET and the AP sued HP and two of its former executives over the computer giant’s use of illegal tactics while spying on journalists and their family members. HP’s investigators illegally obtained telephone records of reporters using “pretexting” techniques – pretending to be someone else to get private information – to […]

Dell Admits to Lying about Financial Results

In yet another corporate scandal, Dell admitted to repeatedly lying about its financial results and said it had cooked its books for several years to meet financial targets. After an internal probe revealed the accounting manipulations and irregularities – which usually occurred at the close of a quarter – Dell intends to restate the results […]