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US to Hand Out Biggest Immigration Fine Ever

Infosys used visitor visas instead of work visas

(Newser) - The federal government is expected to slap a record $35 million immigration fine on Infosys tomorrow, after Homeland Security and State Department investigators found that the Indian outsourcing company had been sneaking workers into the country on cheap visitor visas (B-1), instead of more expensive and harder to get temporary... More »

US Slowdown Hits India's IT Sector Hard

Economic slump adds challenge for industry pondering next steps

(Newser) - The credit crunch that has shifted the US economy into neutral has slowed the growth of India’s tech sector, which once boasted growth rates of 40% in the overall strong economy, the Wall Street Journal reports. The slowdown comes as the sector faces increasing competition from abroad and rising... More »

Infosys Profits Up 26% This Quarter

But investors disappointed in year's revenue forecast—shares fall 1.3%

(Newser) - Infosys saw its profit go up 25.6% int the October to December quarter, the Indian company said Friday. It credited tax refunds and new outsourcing jobs: the company added 47 clients, including an unnamed European bank and a global brokerage firm, reports AP. Infosys raised its 2007 revenue forecast... More »

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