TechTaffy

tech:

taffy

Indian Supreme Court Rules In Favor Of Vodafone In Tax Battle

By TechTaffy Desk

[Techtaffy Newsdesk]

The Indian Supreme Court has ruled in favor of telecom giant Vodafone, in its appeal against a $2.2 billion tax claim on the company’s 2007 purchase of a majority stake in Hutchison Essar. “The Court has concluded that Vodafone had no liability to account for withholding tax on its acquisition of interests in Hutchison Essar Limited (now Vodafone India Limited) in 2007,” said Vodafone in an official release.

The case could end up being pivotal in India’s tryst with foreign investment in the country, as it sets a precdent for corporate tax.

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.