Google launching free videoconferencing

Google is all set to strengthen its voice and video chat capabilities. The voice and video chat feature in the company's the email se rvice, Gmail, is currently limited to one-to-one communication, however, Google wants to broaden this capability to more than two participants. The Google Apps product manager Rishi Chandra told SFGate that Google is set to roll out its first update in a long line of updates that will include multi-user video conferencing. Chandra told the web site, “This (current Gmail capability) is the first step in a much broader set of features we hope to roll out over the next six to 12 months around video (and voice) chat capabilities.” He added, "It’s a great opportunity for us to push that space along." Google acquired Web and video conferencing software in 2007 from Swedish company Marratech.

Reliance eyes major global acquisition

India’s biggest private sector company —Reliance Industries Ltd — is exploring the possibility of a major global acquisition in the oil and gas space, a deal that could be worth $1-2 billion.

Sources close to RIL confirmed that the company is currently doing due diligence on four overseas companies--including the assets of bankrupt petrochemicals company LyondellBasell--for a possible acquisition.

When contacted, a RIL spokesperson said, “RIL is reviewing a number of global opportunities for growth in its core business.”

“The difficult operating environment of the past year has made available several interesting opportunities, where an
investment by a strategic operator of industrial assets can add substantial value.”

The RIL overseas acquisition buzz started getting louder after the company raised Rs 3,188 crore by selling its treasury
shares recently.

The company had cash reserves of Rs 18,000 crore as on 30 September.

Now, know what Google knows about you

Google has opened a window for users to see what records the Internet giant keeps regarding their activities at YouTube, Gmail, Reader and other accounts. Dashboard summarizes data kept about use of more than 20 of the California-based firm's services, according to a blog post by Google engineer Alma Whitten, product manager Yariv Adan, and vice president Marissa Mayer.

"The Dashboard summarizes data for each product that you use and provides you direct links to control your personal settings," the message said.

"The scale and level of detail of the Dashboard is unprecedented, and we're delighted to be the first Internet company to offer this and we hope it will become the standard."

Only information shared with Google while logged into accounts at its Web properties is included in Dashboard summaries. People can change settings or delete data, which is viewable by account owners online at google.com/dashboard/.

"We are very aware of the trust that you have placed in us, and our responsibility to protect your privacy and data," Adan, Mayer, and Whitten said. Dashboard does not include information Google records without identifying accounts of users. Data kept independent of accounts includes "server logs" with details of searches, Web browser types and computer IP addresses. Also separated from accounts is information from snippets of code called "cookies" and search activity data used to target advertising, according to Google.

Akai set to make a comeback

Twice unlucky Japanese electronics brand, Akai is staging a comeback in the country soon. The aggressive ‘price warrior' brand, which in the mid-90s revolutionized the consumer electronic market and is credited with many ‘marketing firsts', will be re-introduced by Pranay Dhabhai, who is also responsible for launching Chinese major, Haier in the domestic market.

According to industry sources, the Akai brand of electronics including colour televisions, home theatres and DVD players will soon be launched by a venture, Global Brands Enterprise Solutions, promoted by Dhabhai. Confirming to TOI, Dhabhai said, "we will re-introduce the Akai brand in December-January as we have entered into an agreement with the Japanese parent. We also hold the marketing rights in countries like Sri Lanka, Nepal and Bangladesh, besides India."

Akai was first introduced in the domestic market by Kabir Mulchandani-run Baron Electronics, who positioned it as ‘price warrior' to capture a major share in the colour television dominated by players like BPL, Videocon, Philips and Onida. In fact, Baron launched 21-inch colour television at an aggressive price of Rs 10,000, which was unthinkable in the 90s. Akai's market share, according to ORG figures, rose to 16% in 1998-99, and its success story soon made it to case studies of top B-schools in the country. The company which scaled up very rapidly by creating a price war in the CTV market, soon ran into rough weather. In 1999, consumer electronic major Videocon entered into alliance with Akai Electric. But the Rs 300-crore brand seems to have disappeared from show-rooms over the last few months. Industry sources said Akai's brand licensing agreement with Videocon ended in September this year. Videocon chairman VN Dhoot was unavailable for comments. The recently-floated venture by Dhabhai will also expand the range of Akai by introducing more categories. "The company has entered into a long-term agreement with Akai," Dhabhai added. Consumer electronics like TVs and audio products will be manufactured in the country by third-party manufacturers, while some will be imported from southeast Asia and Japan. The Akai brand which was founded in Japan in 1929, is now headquartered in Singapore as a subsidiary of Grande Holdings, a Chinese-Hongkong based conglomerate.

US unemployment rate hits 10.2%

The US unemployment rate unexpectedly jumped to 10.2 percent in October, breaching the politically sensitive double-digit barrier for first time in 26-1/2 years, even though the pace of job losses slowed.

A labor department report showed on Friday that employers cut 190,000 jobs last month, more than the 175,000 markets had expected. Economists had looked for the jobless rate to rise to only 9.9 percent from 9.8 percent the prior month.
The government revised job losses for August and September to show 91,000 fewer jobs lost than previously reported. US stock index futures turned negative on the data, while government debt prices rose.
"The unemployment rate of 10.2 percent is problematic because it gives a sense of urgency to Washington, D.C. Washington will be looking for any increase in stimulus," said Tom Sowanick, co-president and chief investment officer at Omnivest Group.
President Barack Obama has called job creation priority No. 1, but the scope to take further steps to lift the economy is limited by record budget deficits. Mounting unemployment could pose problems for the Democrats who control Congress as they head into congressional elections in November 2010. This week, Republicans wrested control of two state governorships away from Democrats in races where the weak economy figured prominently.
The labor market is being watched for signs whether the economic recovery that started in the third quarter can be sustained without government support. The economy grew at a 3.5 percent annualized rate in the July-September period, probably ending the most painful US recession in 70 years.
Labor market sluggishness and weak wage growth suggest inflation is unlikely to get out of hand anytime soon, giving the Federal Reserve scope to maintain supportive policies. The US central bank on Wednesday held overnight interest rates close to zero percent and said it would keep them extraordinarily low as long as excess economic slack and a lack of inflation warning signs prevailed.
"The Fed will stay on hold even longer with less likelihood of giving a concrete answer to when and how to withdraw quantitative easing," said Joseph Trevisani, senior market analyst at FX Solution in Saddler River, New Jersey. Payrolls have declined for 22 consecutive months now, throwing 7.3 million people out of work since December 2007, when the recession started. However, the pace of layoffs has slowed sharply from early this year, when nearly three-quarters of a million jobs were lost in January. In October, job losses were across almost all sectors, with education and health services and professional and business services bucking the trend. Manufacturing employment fell 61,000 last month, while construction industries payrolls dropped 62,000.
The service-providing sector cut 61,000 workers in October and goods-producing industries slashed 129,000 positions. Education and health services added 45,000 jobs, while government employment was flat. The average workweek, which closely correlates with overall output and gives clues on when firms will start hiring, was steady at 33 hours in October. Average hourly earnings rose to $18.72 from $18.67 in September.

Birlas to foray into hotel industry

For the first time in their close to 100-year history, the Birlas are entering the hospitality arena. The Birla Group - a part of corporate folklore in the country, along with the Tatas - is going to set up its first hotel on a closed mill plot in Mumbai. Although the Birla empire - spread across the various family groupings (BK, AVB, KK, CK, SK, Yash and MP Birla groups) - pretty much covers the entire business spectrum, from textiles, metals and cement to automobiles, tea, IT and media, the Birlas had never tried their hand in the hotel arena. Basant Kumar Birla, the oldest member of the Birla family, told TOI that his group has decided to set up a luxury hotel near Worli, in south Mumbai, on unutilised land belonging to Century Textiles & Industries. "We will not run the hotel. Five big groups from India and abroad have approached us for managing it. We will get a fee, which will be revised every three years," Birla said. The group may also use the land for commercial real estate, the industry doyen said. "We want to optimise the value of the land belonging to Century Textiles. The value will appreciate if we develop it. We will not sell the land. The company will return 15-20% of the land to the state government, as per rules, and the rest will be developed," he added. Century Textiles senior president R K Dalmiya said the mill has been shut since 2006. "All the mills in the area are closed for environmental or other reasons. The mill occupies 40 acres, of which we own 30 acres. The balance is lease-hold land for which the group has an existing 999-year lease with the Wadia Group," he said, adding that a Singapore-based architectural firm has been appointed as adviser for the hotel project. Century Textiles has already set up an advanced greenfield textile mill with an investment of Rs 850 crore at Bharuch in Gujarat. The mill was inaugurated by Gujarat chief minister Narendra Modi in the presence of B K Birla and his grandson Kumar Mangalam Birla (chairman of AV Birla Group) in October. "The new mill alone will take care of most of our requirements," Dalmiya said.

Johnson & Johnson to cut 8,000 jobs

US consumer goods and pharmaceutical company Johnson & Johnson said Tuesday it would cut around 8,000 jobs in a bid to trim costs in the wake of the recession. The lay-offs amount to some 6 per cent to 7 per cent of the company's employees.
They are designed to save some $1.7 billion by 2011, the New Brunswick, New Jersey-based company said. One-time costs of up to $1.3 billion will fall in the current quarter.