Technology 

India’s Infosys raises revenue guidance, but third-quarter profit misses estimate

FILE PHOTO: The logo of Infosys is pictured inside the company’s headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/File Photo (Reuters) – Indian IT services company Infosys Ltd raised its full-year revenue growth forecast on Friday, but reported a larger-than-expected drop in third-quarter profit, due to higher expenses. The country’s second-biggest software services exporter by market capitalization reported a 29.6 percent fall in attributable profit for October-December to 36.09 billion rupees ($511.94 million). That compared with the 41.31 billion rupees average of 25 analyst estimates compiled by Refinitiv…

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HS2: MPs had ‘enormously wrong’ cost estimate, says whistleblower

Image copyright HS2 Ltd Image caption HS2 is the biggest infrastructure project in Europe An early cost estimate MPs had when they were approving the HS2 high-speed rail project was “enormously wrong”, a former HS2 boss has told BBC Panorama. Doug Thornton said the costing underestimated the value of many properties HS2 needed to purchase along the proposed route and thousands more had not been budgeted for. Mr Thornton said the figure MPs saw was hundreds of millions of pounds too low. He was later dismissed. HS2 rejects claims MPs…

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Technology 

SoftBank sets indicative IPO price at 1,500 yen, unchanged from initial estimate

TOKYO (Reuters) – SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing. FILE PHOTO – The logo of SoftBank Group Corp is seen at the company’s headquarters in Tokyo, June 30, 2016. REUTERS/Toru Hanai The price was unchanged from the estimate that SoftBank Corp [9434.T], the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp (9984.T), announced when it…

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Technology 

SoftBank sets indicative IPO price at 1,500 yen share, unchanged from initial estimate

TOKYO (Reuters) – SoftBank Corp has set an indicative price of 1,500 yen ($13.23) per share for its IPO, a regulatory filing showed on Friday, making the deal worth 2.4 trillion yen ($21.16 billion) in one of the world’s biggest-ever listings. FILE PHOTO – The logo of SoftBank Group Corp is seen at the company’s headquarters in Tokyo, June 30, 2016. REUTERS/Toru Hanai The price was unchanged from the initial estimate that the domestic telecoms unit of Japan’s SoftBank Group Corp (9984.T) announced when it launched the initial public offering…

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Technology 

Northvolt cuts cost estimate for European battery plant as seeks investors

STOCKHOLM (Reuters) – Northvolt has cut the estimated cost of building Europe’s largest battery factory, giving a boost to a project that faces a battle to attract investors worried about Asia’s head-start in the industry. Northvolt co-founder and Chief operating officer Paolo Cerruti poses for a picture in Stockholm, Sweden June 14, 2018. REUTERS/Esha Vaish The Swedish company, set up by former Tesla executive Peter Carlsson, will spend “significantly less” than its previous guidance of 4 billion euros ($4.7 billion), chief operating officer Paolo Cerruti told Reuters, without giving a…

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