Rajanmeet

New Delhi, May 25: RBI governor Raghuram Rajan today called on finance minister Arun Jaitley and is believed to have discussed the macro-economic situation ahead of the second bi-monthly monetary policy scheduled on June 7. On June 6, a day before the monetary policy, Jaitley will meet the heads of state-run banks to discuss their mounting losses and the bad loan situation.

Microsoft jobs

Seattle, May 25: Microsoft is making further cuts to what is left of its ailing smartphone business as sales of the devices continue to fade. The company said it would eliminate up to 1,850 jobs as a result of the cutbacks, about 1,350 of them in Finland, where the mobile business that it acquired from Nokia a couple of years ago originated. Microsoft will take an accounting charge of $950 million related to the cuts.

Nalco buyback

New Delhi, May 25: Aluminium maker Nalco today said its board has approved a proposal to buy back 64.43 crore shares worth about Rs 2,835 crore, a move that would lead to a liquidation of the government's stake in the company.