PC sales post 20% growth

The country’s personal computer market saw nearly 6.5 million units sold in 2007, a 20 per cent year-on-year growth, spurred by automation drive of firms and increased consumer spending on notebooks, market research firm IDC said, reports PTI from New Delhi.

The consumer PC category is transitioning from desktop- centric to a notebook-centric growth, with the notebook PC shipments accounting for 27 per cent of the total client PC share, he said. Laptop sales has touched 1.8 million units in 2007.  In the overall client PC (notebooks and desktops combined) market, HP retained the top spot with a market share of 21 per cent, followed by HCL at 13 per cent and Lenovo at 10 per cent in terms of unit shipments.

BMW to cut 8,100 jobs

German luxury car maker BMW said on Wednesday that a restructuring plan aimed at boosting profitability would see the overall elimination of 8,100 jobs worldwide, reports AFP from Frankfurt.

More than 3,00 full-time jobs would also disappear, including 2,500 in Germany and 600 in foreign distribution networks on the basis of voluntary departures or non- replacement of workers who retired, BMW board member Ernst Baumann said in a statement.

BMW announced in late December a broad restructuring of its workforce as part of a plan to increase the profit on its cars, which have sold well but earned less for the group than rival Daimler makes with its Mercedes brand.

The group wants to increase worker productivity, which is already growing, “by five to 10 per cent yearly” the statement said.

Ford offers big buyout for staff

Struggling Ford Motor Co is proposing buyout packages that are among richest ever offered to factory workers, including one-time cash payments of US$140,000, the New York Times reported Tuesday, reports Kyodo from New York.

The move reflects tough times in Detroit. Ford has lost US$15 billion in last two years, and General Motors Corp and Chrysler LLC are also revamping after heavy losses.

iGATE to divest its Professional Services

The US-based iGATE Corporation announced on Wednesday that its Board has decided to divest its Professional Services Business (PSB), reports DHNS from Bangalore. It will happen through a sale of the business or through a tax-free spin-off of the business to iGATE shareholders, said a release. iGATE has recently delisted its Indian subsidiary iGATE Global Solutions from the stock exchanges.

“This separation is a logical next step for the Company. Our Global Solutions and Professional Services businesses operate in different markets with markedly different business models. The divestiture will better position each business to benefit from their unique business and growth opportunities,” added the release.

iGATE Corp has named Phaneesh Murthy as CEO and Ramachandran Natesan as Chief Financial Officer.

Infosys is now preferred vendor for Cummins

Infosys Technologies Ltd, on Wednesday, announced that Cummins Inc, which designs, manufactures and sells diesel engines and related technologies, has named it as one of three Global Preferred Vendors (GPVs) for IT application outsourcing and business consulting services. This new partnership will bolster Cummins operations so it may handle the growing global demand for power technologies and components. Cummins launched an effort in January 2007 to identify its GPVs who would help the company transform its IT application outsourcing to support growth in core technical capabilities and global reach. Together, the Cummins and Infosys team will deploy IT solutions that will help Cummins grow to more than $20 billion in revenue, it hopes.

D E Shaw invests Rs 1,000 cr in HDIL unit

International hedge fund D E Shaw Composite Investments (Mauritius), on Wednesday, invested $250 million (around Rs 1,000 crore) in Mack Star Marketing, a group company of Mumbai-based real estate firm HDIL, reports DHNS from Mumbai.

Mack Star Marketing is developing a commercial complex of about 54,000 sq metres (built up) in Mumbai, said a HDIL release. The development rights were granted by HDIL, it added. It may be noted HDIL earlier this year, had bagged a rehabilitation project from the Maharashtra government covering over 276 acre around the Mumbai airport.

Hotel Leelaventure and GHM to part ways

Hotel Leelaventure Ltd, which owns The Leela, Goa has come to a mutually amicable separation agreement with General Hotel Management Ltd (GHM), the company that has been operating and managing The Leela, Goa since April, 2003.

Once this agreement comes into effect from March 1, 2008, Hotel Leelaventure Ltd will operate and manage The Leela, Goa, a 185 room and suite resort, under their own management. The Leela, Palaces, Hotels and Resorts brand is supported by a marketing franchise agreement with Kempinski Hotels and Resorts. The hotel will be under the name of The Leela, Kempinski, Goa.

BCIC organises seminar in City on M&As

Bangalore Chamber of Industry and Commerce (BCIC), on Wednesday, organised a seminar on “Mergers and Acquisitions” in City. While M R Prasanna, Group Executive, President, Legal Function, Aditya Birla Group talked about recent trends in M&A, Akil Hirani, Managing Partner, Majumdar & Co talked about fundamentals of merger and procedure for amalgamation. Mr Prasanna also touched upon pre merger and post merger challenges, why mergers fail, how to make the merger process work, etc.

ERA to host seminar on recruitment on March 1

The Executive Recruiters Association (ERA), Bangalore Chapter, representing Indian executive recruitment consulting firms, is organising a symposium aimed at creating a platform for corporates and its members to have a discourse on recruitment plans, issues, and activities specific to individual organisations, as well as to the industry on March 1, 2008 at The Shelton Grand, M G Road, in City.

Proton may enter India through Argentum

Malaysian auto firm Proton is in talks with Argentum Motors, the new owner of the plant of defunct Daewoo Motors, for utilising the facility at Surajpur in UP. Industry sources on Wednesday said that officials from Proton had talks with Argentum for utilising the latter’s plant either for contract manufacturing or sourcing of components.