Alibaba chairman Jack Ma has made a stupendous promise of creating one million American jobs during his meeting with US president-elect Donald Trump on Monday. This is seen as an attempt to soften Trump who has pledged to take drastic trade action against China accusing it of "stealing American jobs".
Share indices were choppy today, as gains on account of firm global market were offset by concern of a slowdown in India's economic growth, which resurfaced after the Central Statistics Office pegged GDP growth for the current financial year at a three-year low of 7.1%.
TCS shareholders voted on Tuesday for the resolution to remove Cyrus Mistry from the board, but Mistry threw in the towel just before the meeting, saying his expulsion was a "foregone" conclusion since the Tatas hold 73% stake in the software giant.
The political and financial capitals of India were abuzz on Tuesday evening with speculation that Cyrus Mistry might seek an audience with Prime Minister Narendra Modi in New Delhi to argue his case against his dismissal.