London, Apple's iPhone business alone is now bigger than the whole of Microsoft, recent revenue figures have revealed. The tech giant's popular smartphone division generated 24.4 billion dollars of revenue in the quarter up until December, whereas the whole of Microsoft generated 20.9 billion dollars in the same quarter. This included the software firm's entertainment devices such as Xbox, as well as Windows, Microsoft Office and Windows Phone. Bussiness Insider, which highlighted the figures revealed that Apple sold 37.04 million iPhones, its flagship product, and 15.43 million iPads in the quarter up until December, doubling from a year earlier. According to the paper, Apple's hoard of cash now stands at 100 billion dollars, which could be enough to buy Facebook outright, The Daily Mail reports. Apple only overtook Microsoft's market capitalisation in May 2010, the first time the company had been ahead of its rival computer company since 1989. Apple overtook Exxon to become the world's number one company in terms of market cap in August ...
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The government needs to do much more to boost growth, business tycoons, top bankers and ministry officials said at the India Economic Summit held in Mumbai on Sunday. Reliance Industries chairman Mukesh Ambani called upon the governments to move faster to ensure economic development. “The central government and the state government need to align and move a lot faster. In today’s world of aspiration, people want everything to happen now.” Speaking at the 27th edition of the India Chapter of the World Economic Forum, Ambani also stressed on the need for better governance. Chief minister Prithviraj Chavan seemed to concur, but cited the difficulties. “The big challenge before the political system in India is managing the diversities in the country. It is very difficult to satisfy fast movers’ needs,” he said. Top industrialist Rahul Bajaj minced no words while opposing any bailout attempt by the government for the debt-ridden Kingfisher Airlines. “Those who die, must die,” he said. “I don’t see any logic of bailing out any private sector company, either for the sake of its employees or customers.” Drawing attention to high inflation and high ...
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