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Business Briefs

Citi to cut jobs

New York, April 10: Citigroup chief executive Charles O. Prince III plans to eliminate or reassign more than 26,000 jobs, or 8 per cent of its work force, when he announces a major overhaul of the financial institution on Wednesday, according to a report in the New York Times. Citigroupís consumer and investment banking businesses are expected to face the most severe cuts, the report said.

PFRDA move

New Delhi, April 10: The Pension Funds Regulatory Development Authority (PFRDA) has appointed the National Securities Depository Limited as the central record keeping agency. It also decided to appoint three public sector pension fund managers to manage the records of those under the new pension scheme.

Bharti deal

New Delhi, April 10: The Bharti-Wal-Mart deal will be finally signed this month amidst concerns expressed by various political parties over the entry of foreign retailers in India.

Nasscom chief

New Delhi, April 10: Nasscom has appointed Cognizant Technology Solutions vice-chairman, Lakshmi Narayan as its chairman for 2007-08. Zensar Technologies md Ganesh Natarajan has been appointed as the vice-chairman.

Batliboi buy

New Delhi, April 10: Batliboi Ltd has acquired Canadian firm Quickmill Inc to leverage on the latterís distribution network and research and development capabilities.


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