A Wipro employee working in the ‘Controllership’ division in the finance department was found to have transferred funds from Wipro’s account for the last three years. Following this shocking incident, IT major Wipro has tightened all its financial division internal controls.
Wipro noticed this incident in December and are now following up to recover the money. Though Wipro has successfully recovered half the money, it would still face a huge loss of around $2 million.
Suresh C Senapaty, Wipro’s CFO mentioned, “This has been a case of embezzlement, which we discovered in December, and it’s very unfortunate that this person succumbed to this.” He also added, “Our investigations have revealed that only this employee was involved, and nobody else in the team had any clue.”
One would wonder how a huge sum of $4 million would go unnoticed if a transaction takes place. Wipro states this has been happening for the last 3 years so how did the audit that happens every year couldn’t find out this deficit. Wipro always claims and takes pride about its work ethics and strict control of processes and regularities. This incident should have definitely brought in a massive awakening.
This may not be good news to newspaper publishing companies if we are to believe the recent report from Outsell. Outsell recently conducted its third annual News Users research which brought to light steep decline in newspaper circulation as readers are becoming increasingly tech savvy and now wish to read news online.
Outsell forecasted that there was a 3.5 percent annual decline in both daily and Sunday circulation. This lead to a huge decrease of newspaper readers and only 43 million would read Sunday newspaper by 2012, compared to more than 62 million in the early 1990s.
The research also unveiled the serious effect news aggregators like Google and Yahoo had on online and print industry. Around 31% of visitors prefer an aggregator while only 8% prefer a newspaper site and 18% prefer other websites.
Outsell analyst Ken Doctor mentions, “Among the aggregators, Google’s effect on the newspaper industry is particularly striking,. He also mentioned that, “Though Google is driving some traffic to newspapers; it’s also taking a significant share away. A full 44 percent of visitors to Google News scan headlines without accessing newspapers’ individual sites.”
This survey was conducted on 2,787 U.S. news customers about their various online and offline preferences. Google with its strategy of earning through another mans hard work may not last longer if all the news industry join hands and come up with stringent guidelines.
Satyam secured projects worth $79 million on its second quarter 09 in the Middle East and North Africa (MENA) regions. The BSE filling by Satyam also states that it is looking at doubling its business in these regions in the next 1.5 – 2.0 years. Continue Reading
Warp 9, Inc. (OTC Bulletin Board: WNYN), the premier provider of robust e-commerce platforms and services, today announces the findings from a six month year-over-year organic search engine revenue comparison for 2009 vs. 2008. The results:
A 72% increase in FREE revenue! Continue Reading
comScore, Inc. , a leader in measuring the digital world, today released its monthly comScore qSearch analysis of the U.S. search marketplace. In September 2009, Americans conducted 13.8 billion core searches, with Google Sites accounting for 64.9 percent search market share. Microsoft Sites grabbed 9.4 percent market share, representing a slight gain versus August.
September 2009 U.S. Core Search Rankings
Google Sites led the U.S. core search market in September with 64.9 percent of the searches conducted, followed by Yahoo! Sites (18.8 percent), and Microsoft Sites (9.4 percent). Ask Network captured 3.9 percent of the search market, followed by AOL LLC with 3.0 percent. Continue Reading
The Global Internet Leader Google has collaborated with the Danish Government to increase global awareness and engagement on climate change. This will allow users to share their thoughts on climate change. This collaboration comes ahead of the UN Climate Change Conference 2009 (COP 15).
According to comScore, Google’s U.S. market is approximately 65% even with the launch of Microsoft’s Bing. But is it really better than Bing or Yahoo? Is Twitter a search engine? Search3.com lets users compare and decide for themselves. Continue Reading
Multitask Productions LLC is changing the way you think about exercise by launching SqueezeItIn.com–a website and online community featuring dynamic videos of exercises and a content-rich blog designed to help you make simple, effective exercises a part of your daily routine.
During his presidency, Bush certainly needed his words pre-optimized. His verbal lapses were so frequent and popular that it was named “Bushism”. Continue Reading
I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors. I thank President Bush for his service to our nation, as well as the generosity and co-operation he has shown throughout this transition.
Forty-four Americans have now taken the presidential oath. The words have been spoken during rising tides of prosperity and the still waters of peace. Yet, every so often the oath is taken amidst gathering clouds and raging storms. At these moments, America has carried on not simply because of the skill or vision of those in high office, but because we the people have remained faithful to the ideals of our forbearers, and true to our founding documents. Continue Reading
