Reduced global spending is impacting choices in IT services, experts say, with firms choosing online software over outsourcing providers like Infosys. This may mark a permanent downturn for companies like Infosys and TCS. NDTV
Samsung and other smartphone companies are taking a bite out of iPhone's apple, with the Samsung Galaxy S7 taking 16% market share in the US compared to 14.6% for the iPhone. ET
Reliance Industries posted an 18% consolidated net profit growth, beating expectations. Revenue however fell 13.13%. Profit growth was helped by better oil refining margins - RIL now claims that its refining margins are now the best in the industry. LiveMint
Snapdeal was in talks with GoJavas to acquire the logistics company, but talks have apparently fallen apart over differences in GoJavas valuation. GoJavas has walked out of the deal and is looking for possible ways to buy out the 42% stake Snapdeal already holds in the company. BS
Photo of the Day: The Hubble Telescope spots a starburst (on the left) - where an unusually high number of stars are being formed together. Normal galaxies usually make one or two new stars a year, but a starburst galaxy makes over two hundred. NASA
