Work-from-home employees toil harder than their office peers!!

Employees who work from home slog away for at least seven hours a week longer than those in office, according to a new study.

Researchers at the University of Texas in Austin found that contrary to popular opinion, home workers toil harder than their colleagues who commute.

The study found that employees who work from home add five to seven hours to the standard 40-hour week compared with those who work exclusively at the office, the Daily Express reported.

Employees admitted to using technology such as email to perform office work even when sick or on vacation.The study found that so-called teleworking blurs the boundary between work and home.

Rising petrol prices and increasing demand for a more equal work-life balance had prompted many white-collar staff to work from home.The study, published in Monthly Labour Review, concluded that teleworking is not helpful in reducing work-family conflicts.

The researchers also found that parents with dependent children are no more likely to work from home than the population as a whole.

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Tata Nano is coming to Jamaica on 15th December,2012!!

The Tata Nano is planning to make its debut in Jamaica this month. The distribution and operations there will be handled by Metis Motors, a local entity. Deliveries of the car will start from December 15 and the importer will start building up stock from February 2013. Only the top-end variant will be made available.

Two Nanos are already in Jamaica for marketing activities. Joe Ferreira, director of new markets at Metis Motors said, “A lot of people are sceptical, will always love bigger and better. I hear people complain it does not have a nose”. This stems from the preference of the Jamaican public, who like their cars big.

There are stickers on both the marketing Nanos that claim 26kmpl, making it the most fuel efficient car in Jamaica. The Nano will be available with a 25,000 km or two-year warranty, whichever comes first. The car will be sold for $940,000 JMD (Rs 5.59 lakhs). Finance options are also available from some institutions.

MphasiS Buys U.S. Mortgage Management Firm For 960 Crore!!

Bangalore based IT firmMphasiS has acquired U.S. based data analytics company Digital Risk for $175 million (about Rs 960 crore), a move according to the company, will help it attain leadership position in the US mortgage services market.

The Florida-based Digital Risk is one of the largest independent providers of solutions related to risk, compliance and transaction management to the US mortgage market.

The acquisition is an all-cash deal valued at USD 175 million with an additional earn- ut component, Mphasis said in a statement. This acquisition significantly enhances MphasiS’ onshore presence in the US, it added.

MphasiS has plans to expand its footprint in the US creating up to 500 new jobs in the near future.

Digital Risk is expected to register revenues of USD 127 million in CY2012 and has grown at revenue CAGR of 70 per cent in the last three years.

Digital Risk has additional operations in New York, Dallas, Denver, Chicago, Boca Raton, Tampa and Jacksonville.

“We began our journey of transformation in 2010 focusing on the Financial Services Industry. This acquisition is central to our strategy of offering specialized services in chosen segments,” MphasiS chief executive officer Ganesh Ayyar said.

“Digital Risk’s analytics platform combined with 1,500 mortgage specialists makes them unique and differentiated,” he added.

The transaction is currently expected to close by January 2013, subject to regulatory approvals and other customary closing conditions.

The shares in MphasiS rose as much as 6.1% after the news.

Upon completion of the transaction, Digital Risk will operate as a standalone business unit retaining its brand identity.

Digital Risk’s founders will continue to lead the company, with Peter Kassabov reporting to Ayyar. And the management team and employees will remain with the company and continue serving their customers.

In this transaction, Avendus Capital acted as the exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to MphasiS.

Portico Capital Securities, LLC served as financial advisor to Digital Risk and Katz, Teller, Brant & Hild acted as legal advisor to Digital Risk.

Fiat India to Introduce Jeep Range of SUVS By 2013

Jeep Grand Cherokee SRT8

Jeep Grand Cherokee SRT8 (Photo credit: Autoviva.com)

With an aim to take its minute market share on new heights in the country, Fiat India is very much geared up to take an entry in Jeep brand in Indian car market. All set to bring in itsAmerican brand Chrysler’s owned cars and SUV brands, Fiat India has brought out the press release, yet official announcement is likely to be made in the month of December, with 2013, being the year to witness Jeep range of SUVs coming to India.

 

As the rumours suggest, initially the Jeep brands SUVs will be introduced through CBU route resulting in abrupt and heavy pricing. So it is pretty clear that until local assemblage of the Jeep range of SUVs start in India for few more years, this brand will act similar to brand-builder for the company.

The Jeep range of SUVs of Chrysler contains four SUVs that include the Patriot, the Compass, the Wrangler and the Grand Cherokee. Out of these four, Wrangler and the Grand Cherokee might be the products that Fiat may think to launch in India. Both of these models host a perfect package of luxury and off-road dynamics. While Wrangler is highly praised for its off-road qualities, Grand Cherokee is one step ahead, offering exceptional off -road performance together with superior on-road capacities.

As far as technical specifications are concerned, Grand Cherokee, which will be driven in the country, will house 3 litre V6 turbo diesel engine, available in two power tunes of 188 Bhp-440 Nm and 237 Bhp-550 Nm. After the end of Tata-Fiat joint dealership and supply union, Fiat India will distribute Jeep range through its own separate dealerships.

BlackBerry maker RIM loses patent dispute with Nokia!!

Canada’s Research In Motion (RIM) has lost a contract dispute over the use of Nokia patents in a case which could halt sales of its BlackBerry phones if it does not reach a deal to pay royalties to the Finnish company.

Nokia said on Wednesday a Swedish arbitrator had ruled that “RIM was in breach of contract and is not entitled to manufacture or sell WLAN products without first agreeing royalties with Nokia.”

Wireless local access network (WLAN) technologies, usually marketed under the WiFi brand, are used across BlackBerry devices and by most other smartphones.

Nokia, which is trying to boost its royalty income as its phone business slides, said it had filed cases in the United States, Britain and Canada to enforce the arbitrator’s ruling.

“This could have a significant financial impact to RIM, as all BlackBerry devices support WLAN,”IDC analyst Francisco Jeronimo said.

The (job)hunt begins...

Nokia wins.

 
RIM declined to comment. At 6 a.m. EDT its Frankfurt-listed shares were down 5 percent at 8.245 euros. Nokia shares were down 1.6 percent at 2.526 euros.

“If a sales ban was imposed it would be a massive blow for RIM as it manages its transition to the new BlackBerry 10 software platform,” said Canalys analyst Pete Cunningham.

However, analysts think it is much more likely that RIM will reach a royalty agreement with Nokia to avert such an outcome.

RIM, a smartphone pioneer, hopes new devices using BlackBerry 10 software, due early 2013, will rescue it from a prolonged slump in the face of competition from the likes of Apple and Samsung.

RIM promises its new devices will be faster than previous smartphones, and will have a large catalogue of applications, which are crucial to the success of any new line of smartphones.

Nokia said it signed a cross-license agreement with RIM covering standards-essential cellular patents in 2003, a deal that was amended in 2008.

RIM sought arbitration in March 2011 with the Stockholm Chamber of Commerce, arguing the license should be extended to cover WLAN patents.

The arbitration tribunal concluded a nine day hearing in September 2012 and it issued a decision on November 6, Nokia said in a U.S. court filing seeking to enforce the ruling.

During arbitration RIM did not contest it manufactures and sells products using WLAN technology in accordance with Nokia’s WLAN products, Nokia said, quoting the tribunal decision.

Nokia, along with Ericsson and Qualcomm, is among the leading patent holders in the wireless industry. Patent royalties generate annual revenue of about 500 million euros ($646 million) for Nokia.

Based on a Nortel patent sale and Google’s acquisition of Motorola Mobility, some investors and analysts say Nokia’s patent portfolio alone merits its current share price of around 2.50 euros.

However, the patent market has cooled since those deals were made and industry experts say that fair value of patents in large portfolios is $100,000 to $200,000, pricing Nokia’s portfolio at up to 0.50 euros per share.

Source: Reuters