SBI to hire over 5,000 officers

The country's largest lender State Bank of India plans to hire over 5,000 officers, the vast majority of whom would be for its associate banks.

While a total of 4,987 officers would be recruited for associate banks of SBI, as many as 206 officers would be hired for State Bank of India itself.

The associate banks for which recruitment is being done include State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of Mysore and State Bank of Travancore.

SBI has started the process of hiring by releasing public advertisements for all these positions.

The bank would be hiring the people for the post of probationary officers for its associate banks, while those in the parent bank would be hired in the position of specialist officers in divisions like law, economics, medical and security.

In the proposed hiring exercise, 1,000 probationary officers would be hired for State Bank of Bikaner and Jaipur, 1,416 for State Bank of Hyderabad, 1,328 for State Bank of Patiala, 843 for State Bank of Mysore and 400 for State Bank of Travancore.

Last year, SBI had said it plans to hire a total of 27,000 employees -- 20,000 to 22,000 people in clerical posts and 5,500 people at the probationary officer level.

All the PSU banks together, including SBI, are planning to hire about 45,000 personnel during 2011-12 to meet their workforce requirements.

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Infosys acquires software solutions business of New Zealand's Telecom Corporation

Infosys has acquired the software solutions business of New Zealand's Telecom Corporation. Price for the acquisition has not been disclosed, ET Now quoted Bloomberg news agency.

Infosys will get 110 employees of Telecom Corporation. More details of the deal are awaited.

There was not much of a reflection of the news on the stock price. It has been fairly tepid since the start of the day. Infosys stock was down 0.20% at Rs 2887 on the BSE.

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Twitter valued at up to $10 bn: Report

Executives from Google and Facebook are holding “low level talks” with Twitter about buying the messaging service for between $8 million and $10 million, the Wall Street Journal reported Thursday.

Though the talks are yet to yield any concrete results, the high valuation of the company was a point of surprise since Twitter lost money last year on just $45 million in revenue. The company only started selling advertising last spring, and estimates its revenue this year at between $100 million and $110 million, the report said.

The company received its last round of venture capital financing in December, when it was valued at $3.7 billion. However since then Facebook has raised $1.5 billion at a company valuation of $50 billion, which has boosted the value of other privately held companies, the report said.

Twitter has been hiring engineers and advertising professionals as it attempts to expand, and the company believes it can grow into a $100 billion company, according to the report.

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BMW Recalls 200000 Vehicles for Brake Problem‎

German car maker BMW has announced to recall about 198,000 BMW and Rolls-Royce vehicles in North America due to a potential issue with their braking system, possibly making it difficult to apply the brake pedal. BMW had also recalled about 26,000 BMW cars and 1,200 Rolls-Royce cars in Britain.

However, German car maker has said, there have been no reports of accidents or injuries.

The models affected are the V-12 and V-8-powered vehicles manufactured from 2002 and later. 2002 to 2008 BMW 745i/Li, 750i/Li, and 760i/Li; 2007 and 2008 BMW Alpina B7; 2004 to 2010 BMW 645i and 650i; 2004 to 2010 BMW 545i and 550i; and all 2002 to 2010 Rolls-Royce Phantom models.

BMW has said that they are writing to all the owners of the affected vehicles in the coming weeks requesting that owners schedule a service appointment.

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