Posts Tagged ‘Data’

Arise Virtual Solutions Shrinks Application Recovery Times to Minutes with Actifio Sky for Branch Office Data Management

July 23rd, 2014

Actifio®, the copy data virtualization company, today announced that Arise Virtual Solutions Inc., the leading global provider of virtual, work-at-home business process outsourcing (BPO) and crowdsourcing solutions, has deployed Actifio Sky™ to ensure data accessibility, and business resiliency acrossOutsourcing35 their distributed organization’s many locations. An existing customer of Actifio’s CDS solution within its main datacenter, Arise recently implemented Actifio Sky at several branch office data centers including Miramar, Florida and Edinburgh, Scotland for data consolidation and protection.

After replacing multiple local backup products in its offices with Actifio Sky, Arise is now able to fully restore application services for branch office data centers in less than 90 minutes. Actifio Sky captures Microsoft SQL Server, Oracle, SharePoint and other data in several virtual machines, deduplicates and backs up the data and efficiently replicates it back to the Actifio CDS system in the central Arise datacenter.

“Arise Virtual Solutions’ core innovation is in our scalable virtual workforce platform, and that drives the value we deliver to our customers,” said Arise CIO Martin Ingram. “To remain productive for our clients, we need IT services that are highly resilient and efficient, no matter where the IT infrastructure and data are located. Actifio Sky lets us extend our core Actifio capabilities to manage and protect the critical data for our customers across multiple locations from one central repository. This has helped significantly reduce our administration time, letting our team focus more of its time on service delivery and development.”

Announced in May, Actifio Sky is a new generation offering built on the company’s Virtual Data Pipeline™ technology that extends the power of copy data virtualization from the data center to edge of the enterprise and into the cloud. Actifio Sky offers a new level of deployment flexibility and range, enabling seamless data management wherever the enterprise data is located to improve data protection, governance and analytics. Today, Sky is offered first for Remote / Branch Offices (ROBOs) and for cloud deployments for businesses looking to shift enterprise workloads into the cloud. Together with Actifio’s CDS data center appliance, Actifio Sky eliminates barriers to data mobility between the edge to the core, enabling transformational data management velocity and scale across the enterprise.

“Actifio Sky demonstrates the strength of our underlying technology and brings it to a new audience of customers who want to tap the power of copy data virtualization in whatever form is most useful – whether that’s a fully-integrated hardware system, a virtual appliance or a cloud-based service that’s available on demand and accessible through any device,” said Actifio founder and CEO Ash Ashutosh. “This vision is becoming reality through companies like Arise who are deploying Actifio flexibly to meet their business needs.”

Source:http://www.marketwatch.com/story/arise-virtual-solutions-shrinks-application-recovery-times-to-minutes-with-actifio-sky-for-branch-office-data-management-2014-07-23

Google has to face US privacy suit over new user data policy

July 23rd, 2014

A California court has allowed a privacy class action suit against Google to continue, though only in part.
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After evaluating each claim of each sub-class in the suit, Magistrate Judge Paul S. Grewal has allowed two claims of the “Android Application Disclosure Subclass,” which includes all persons and entities in the U.S. that acquired an Android-powered device between Aug. 19, 2004 and the present, and downloaded at least one Android application through the Android Market or Google Play.

On March 1, 2012, Google introduced a single, unified policy that allows the company to comingle user data across accounts and disclose it to third-parties for advertising purposes.

This move triggered the class action lawsuit in March, 2012 in the U.S. District Court for the Northern District of California, San Jose division, which argued that by switching to the less-restrictive privacy policy without user consent, Google violated both its prior policies and consumers’ privacy rights, according to court records.

The Android Application Disclosure Subclass claimed Google’s disclosures to third parties caused increased battery and bandwidth consumption as well as invasions of their statutory and common law privacy rights.

The suit was filed over two years ago and since then the court twice dismissed the plaintiffs’ claims. Google moved for a third dismissal.

The claims allowed by the judge includes a breach of contract claim that Google breached terms of the contract by disclosing user data to third parties following every download or purchase of an app, resulting in damages in the form of resource consumption. The second claim is under California’s Unfair Competition Law.

Claims by persons and entities in the U.S. that acquired an Android-powered device between May 1, 2010 and Feb. 29, 2012 and switched to a non-Android device on or after March 1, 2012 were dismissed.

Google could not be immediately reached for comment.

Source:http://www.itworld.com/legal/428311/google-has-face-us-privacy-suit-over-new-user-data-policy

IBM to invest $3B in R&D for next-generation chips

July 11th, 2014

IBM is going to pump $3 billion over the next five years into a research and development plan that advances its chip smarts as the company addresses the rise of cloud computing and big data. Basically, IBM hopes this new research initiative will eventually lead to semiconductors that measure only 7 nanometers, which is tiny compared to their current size of 22 nanometers. The smaller the chip, the faster it can be, which is important to cloud computing and big data, both of which require powerful compute.Outsourcing15

Additionally, IBM is preparing for a future in which silicon isn’t even needed for chips, as its research endeavor involves looking into other manufacturing areas like quantum devices, carbon nanotubes, photonics, graphene and other exploratory areas of manufacturing.

It’s interesting to note that while IBM is making this broad announcement, which should keep other chip makers like Intel on their toes, the focus of Big Blue’s news is on research and development and not necessarily the actual production of the supposed chips of the future.

In June, it seemed as if IBM was on the verge of selling its chip-making prowess to GlobalFoundries, and today’s news doesn’t throw that out of the water yet. IBM can still end up outsourcing its chip-manufacturing and save some cash while it concentrates on the design at home.

While the company is almost finished with selling off its server business to Lenovo in a $2.3 billion deal first announced in January that is still pending U.S. regulatory approval, today’s announcement makes it seem as if IBM is not ditching the hardware scene altogether, it’s just repositioning itself to deal with the future of chip making.

Source:http://gigaom.com/2014/07/10/ibm-to-invest-3b-in-rd-for-next-generation-chips/

IBM forks out $100m for China’s next generation of data scientists

July 9th, 2014

IBM announced today its plan to donate US$100 million worth of big data and analytics software to 100 Chinese universities in the hope of helping toOutsourcing12 create the “next generation” of data scientists.

According to IBM, the effort aims to reach up to 40,000 students per year to gain expertise in big data and analytics — a skill that the company says is increasingly in demand in China.

The plan follows a memorandum of understanding that IBM signed with the Chinese Ministry of Education in the first quarter of this year, with a focus on addressing the big data and analytics “skills opportunity” in the country.

“IBM is privileged to extend its collaboration with the Ministry of Education and universities in China,” said D.C. Chien, chairman and CEO of IBM’s Greater China Group. “Together we will be able to accelerate the nurturing of skills in big data and analytics and help prepare future business leaders to apply [big data and analytics] technologies to tackle complex societal issues, from health care to transportation and public services.”

Under the new initiative, IBM will set up big data and analytics technology centres, and provide technical training to professors and faculty, in areas ranging from information management, data mining, social media analytics, and risk management.

Big Blue has already been in collaboration with seven universities, including the Beijing Institute of Technology, Fudan University, Guizhou University, and Huazhong University of Science and Technology, which are among the pilot schools that will rollout new programs in their education system in the coming academic year.

The company plans to bring 40 new universities on board to this program by the end of this year. In fact, according to IBM, the application guidelines will be issued to all qualified academic institutions later this month, with the program rolled out to all 100 universities in mid-2015.

The agreement comes at a time when the United States’ use of big data and analytics for surveillance purposes has the Chinese government on edge — following the publication of documents leaked by whistleblower Edward Snowden last year.

Over the past few months, Beijing has reportedly pulled Microsoft’s Windows 8 from all new government agency computers, and called for private industry to replace US-made IT hardware and software with domestic alternatives. Reports last month suggested that the government was even urging the country’s banks to remove high-end IBM servers from their operations.

Despite this, IBM has brokered not only its university big data donation deal — dubbed IBM U-100 — with the Chinese authorities; it has also struck an agreement with kaikeba.com, a prominent subsidiary brand of Chinese education solution provider, Uniquedu Corporation.

The deal with kaikeba.com will see IBM set up an “IBM zone of big data and analytics”, and according to IBM, the agreement will deliver online courses to students in order to help prepare the next-generation workforce with the skills and expertise needed to embrace big data as the “next frontier for innovation for the coming decades”.

“Big data is big business, but its rapid growth has outpaced colleges’ and universities’ ability to develop and implement new curriculums,” said Li Shu Chong, president of China’s largest research, consulting, and IT outsourcing service company, CCID Consulting. “IBM’s extensive initiative is poised to help develop new talent in China that will be needed to realize the full potential of big data.”

According to CCID, the big data technology and services market in China will continue to grow from US$2.3 billion in 2014 to US$8.7 billion in 2016.

Source:http://www.zdnet.com/ibm-forks-out-100m-for-chinas-next-generation-of-data-scientists-7000031369/

Telecom providers to see significant new growth in revenues from Data Centre facilities

June 30th, 2014

TCL’s New Telco Data Centre – Pricing for the New Telecoms Data Centre – 2014 to 2019 report is based on a TCL survey of 57 key Telecom Providers around the world who have developed their own Data Centre infrastructure. From the survey the report identifies over 2,200 Telecom Provider Data Centre facilities with around 2.9 million square metres of space available – forecast as of the end of 2014.Outsourcing21

Selected Telecoms Providers are now spending from USD $100 million up to USD $300 million per facility on developing large campus-based Data Centre facilities – with multiple Data Halls to cater for cloud services across multiple countries. Other Telecom Providers are investing in Modular Data Centre (MDC) designs, which allows new Data Centre space to be deployed on an incremental basis in line with customer demand.

The New Telco Data Centre is above all now becoming a flexible Data Centre, with infrastructure used for internal networking, equipment, hosting, managed services and IT services as well as the traditional housing, colocation and IP connectivity services – and able to cater for a range of services and customer needs.

Although IP connectivity, housing and colocation remain core products offered by all of the Telecom Providers, there has been a migration towards cloud services. The key hosting and IT applications (such as server hosting, security and disaster recovery & back up services) are being virtualized and offered as an on-demand service – using a variety of flat rate pricing models.

The Telecom Provider is becoming more circumspect about bidding for large IT outsourcing deals and are instead providing partial outsourcing of individual applications or services using a virtualized on-demand platform. Pricing is based on a usage fee per hour or per month – which may also be based on a per device or per user basis.
The TCL survey discovers that cloud services are now being offered by 52 out of the 57 Telecom Providers in the survey – with the migration to new cloud services being a key driver for the development of new flexible Data Centre facilities by the Telecoms Provider worldwide.TCL also forecasts that the change-over to new larger high specification Data Centre facilities by the Telecoms Provider will allow higher average pricing per rack or per square metre to be charged over time as the operator moves up the value chain by offering higher IT power densities.

Additionally, as enterprises – and particularly companies in the SME segment – are only starting to become aware of the scalable benefits of cloud services, there remains scope for considerable growth in Telecom Provider cloud revenue as new enterprises migrate their applications to the cloud for the first time.

Although cloud pricing will remain under competitive pressure, TCL forecasts that the growth in service volumes will outweigh the price declines over time.

Overall New Data Centre revenues are forecast by TCL to increase by 28 per cent per annum over the 5 year period from the end of 2014 – ” from almost USD $3.1 billion per annum (2014) up to almost USD $7.5 billion per annum (2019) “.

Finally, TCL also forecasts that New Data Centre space will increase from over 2.9 million square metres (2014) up to 3.7 million square metres (2019) – an increase of almost 6 per cent per annum (but from a already high installed base as space becomes more utilized over time).

“The availability of new high quality New Data Centre stock will be critical in hosting new IT and cloud services for the Telecoms Provider,” says Margrit Sessions, Managing Director of TCL.

“Increasingly Telecom Providers will have a simple choice to make, whether to invest in their own Data Centre stock to cater for the range of SLAs, power and performance required by their customers or whether to outsource to other Data Centre specialists if they are to stay in the game of offering their own cloud services,” she adds.

Source:http://www.ciol.com/ciol/news/216863/telecom-providers-significant-growth-revenues-data-centre-facilities/page/1?WT.rss_a=telecom+providers+to+see+significant+new+growth+in+revenues+from+data+centre+facilities&WT.rss_f=home

Global Data Analytics Outsourcing Market Report

April 15th, 2014

Research and Markets has announced the addition of the “Global Data Analytics Outsourcing Market Report” report to their offering.outsourcing54

The analysts forecast the Global Data Analytics Outsourcing market to grow at a CAGR of 31.68 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rapid expansion of data. The Global Data Analytics Outsourcing market has also been witnessing the emergence of social analytics. However, the lack of awareness about data analytics could pose a challenge to the growth of this market.

The report, Global Data Analytics Outsourcing Market Report, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in the Americas and the EMEA and APAC regions; it also covers the Global Data Analytics Outsourcing market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

People use mobile devices for various purposes such as GPS navigation, people tracking, remote personal car safety, geo-targeted mobile advertising, and toll collection. GPS Navigation is done by GPS tracking and data analysis facility. This system integrates the data analysis, operations, and communication software tools and works with GPS receiver which is at the other end of the satellite. Hence, with the help of GPS Navigation we can easily track the data and perform data analysis in order to extract information.
With similar techniques, mobile devices are helpful in people tracking. Similarly, location-based data is helpful in generating mobile advertisements. With the help of this, the location of a person can be identified and the relevant advertisement can be sent on their mobiles. In recent years, data analytics service providers have started to invest considerably in their data analytics outsourcing offerings with increasing focus on mobile analytics. This helps vendors in concentrating on providing better offerings and moving up the value chain.

According to the report, one of the major drivers is the exponential growth of data. With the presence of a large amount of data, enterprises need data analytics to automatically track the performance and behaviour of the information stored in their IT systems. In addition, they require data analytics to develop innovative business strategies and improve their overall operational efficiency.

Further, the report states that the lack of awareness is one of the major challenges confronting this market. Enterprises are unaware of the potential benefits of implementing data analytics in their work environment. This is affecting investment in Global Data Analytics Outsourcing market.

Key Topics Covered:

1. Executive Summary
2. List of Abbreviations
3. Introduction
4. Market Research Methodology
5. Scope of the Report
6. Market Landscape
7. Outsourcing Destinations
8. End-User Segmentation
9. Geographical Segmentation
10. Key Leading Countries
11. Vendor Landscape
12. Buying Criteria
13. Market Growth Drivers
14. Drivers and their Impact
15. Market Challenges
16. Impact of Drivers and Challenges
17. Market Trends
18. Key Vendor Analysis
19. Other Reports in this Series

Companies Mentioned:
American Express
Capgemini S.A.
Citigroup Inc.
Cognizant
Credit Rating Information Service of India Ltd.
EXL Services Holding Inc.
Eclerx Services Ltd.
Evalueserve Ltd.
Fractal Analytics Ltd.
Fractal analytics Ltd.
Genpact Ltd.
Infosys Ltd.
Mu Sigma Inc.
Opera Solutions
TCS Ltd.
Tata Consultancy Services Ltd.
UBS AG
WIPRO Ltd.
WNS Holdings Ltd.
ZS Associates Inc.

Source:http://www.prnewswire.com/news-releases/global-data-analytics-outsourcing-market-report-255244641.html

IT stocks in demand on good US economic data

January 31st, 2014

Key benchmark indices extended gains to hit fresh intraday high in morning trade. The S&P BSE Sensex was up 68.20 points or 0.33%, up 87.91 points from the day’s low and off 5.87 points from the day’s high. The market breadth, indicating the overall health of the market, was strong. In the foreign exchange market, the rupee edged higher against the dollar tracking the dollar’s losses versus other Asian currencies.

IT stocks gained on good US economic data. US is the biggest outsourcing market for the Indian IT firms. Tata Consultancy Services (TCS) gained after the company after market hours on Thursday, 30 January 2014 announced that it has been designated as a Leader in the IDC MarketScape. Aditya Birla Nuvo (ABNL) rose after the company before market hours today, 31 January 2014 said its wholly-owned subsidiary, ABNL IT & ITES, has on Thursday, 30 January 2014 entered into an agreement to divest its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide.

A bout of volatility was seen in early trade as the key benchmark indices hit intraday high after sinking in negative zone following a slightly positive start. Key benchmark indices extended gains to hit fresh intraday high in morning trade.

Foreign institutional investors (FIIs) sold shares worth a net Rs 430.20 crore on Thursday, 30 January 2014, as per provisional data from the stock exchanges.

At 10:18 IST, the S&P BSE Sensex was up 68.20 points or 0.33% to 20,566.45. The index gained 74.07 points at the day’s high of 20,572.32 in morning trade, its highest level since 29 January 2014. The index fell 19.71 points at the day’s low of 20,478.54 in early trade.

The CNX Nifty was up 17.80 points or 0.29% to 6,091.50. The index hit a high of 6,096.45 in intraday trade, its highest level since 29 January 2014. The index hit a low of 6,068.35 in intraday trade.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,169 shares gained and 421 shares fell. A total of 179 shares were unchanged.

Among the 30-share Sensex pack, 21 stocks gained and rest of them declined.

Mahindra & Mahindra (up 2.69%), Tata Steel (up 2.31%) and Sesa Sterlite (up 1.47%) edged higher from the Sensex pack.

NTPC (down 2.93%), Tata Motors (down 2.74%) and HDFC (down 0.95%) edged lower from the Sensex pack.

IT stocks gained on good US economic data. US is the biggest outsourcing market for the Indian IT firms.

Infosys (up 0.47%), Wipro (up 1.08%), Tech Mahindra (up 2.96%) and HCL Technologies (up 1.27%) edged higher.

Tata Consultancy Services (TCS) gained 1.79%. TCS after market hours on Thursday, 30 January 2014 announced that it has been designated as a Leader in the IDC MarketScape: Worldwide Life Science Manufacturing and Supply Chain ITO. Among the attributes cited in the report, ‘IDC MarketScape: Worldwide Life Science Manufacturing and Supply Chain ITO 2013 Vendor Assessment,’ TCS was lauded for its overall capability and extensive experience in working with global life science companies across all three sections of the industry: pharmaceutical, biotech and medical devices.

The report evaluated the 12 leading IT vendors that serve the life science manufacturing and supply chain space, across a number of capability and strategy measures such as Offering Roadmap, Portfolio Strategy, Customer Base, Engagement Capability, Pricing Model, Investment, Growth Strategy, etc. IDC MarketScape criteria selection, weightings and vendor scores represent well-researched IDC judgment about the market and vendors through structured discussions, surveys and interviews with market leaders, participant buyers and end users.

In the current market conditions, there is a strong demand from life sciences companies for skilled IT Outsourcing (ITO) partners that have significant domain depth and experience, said Eric Newmark, Program Director, IDC Health Insights, Business Systems Strategies Program. TCS has demonstrated its expertise and innovation through its extensive work with life sciences companies in the manufacturing and supply chain market. TCS’ exceptional technical skills, coupled with the overall value that the company consistently delivers to its global life sciences clients, make it an established leader in the field.

Our continued leadership in the life sciences manufacturing and supply chain market is a testament to the unparalleled value we bring to our customers, said Debashis Ghosh, President, Life Sciences, Manufacturing and Energy, TCS. Our strategy is to enable life sciences companies to use technology effectively to optimize manufacturing operations and adopt emerging supply chain practices, which will result in a more holistic, patient-centric healthcare ecosystem. This, coupled with a strong global footprint and a continuous focus on innovation, ensures that we are a partner of choice for life sciences companies worldwide.

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market.

Aditya Birla Nuvo (ABNL) rose 1.65%. The company before market hours today, 31 January 2014 said its wholly-owned subsidiary, ABNL IT & ITES, has on Thursday, 30 January 2014 entered into an agreement to divest its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide, subject to customary closing conditions, third party consents and regulatory approvals. Pursuant to a share purchase agreement with a group of financial investors led by Capital Square Partners (CUP) and CX Partners (CXP), ABNL IT & ITeS will divest Aditya Birla Minacs at an enterprise value of $260 million subject to the working capital adjustments.

Aditya Birla Nuvo entered the iTeS sector in 2003 through acquisition of TransWorks, a $12 million company. Later to provide scale to the business, TransWorks acquired Minacs, a $265 million company in 2006. Committed to its turnaround and growth, ABNL supported Minacs over the years, to attain revenue of $450 million (Rs 2466 crore) and net profit of $23 million (Rs 125 crore) in fiscal 2012-13, Aditya Birla Nuvo said in a statement.

Today, Aditya Birla Minacs has risen to the stature of a global business solutions provider that partners with global corporations through its 35 centers spanning 10 countries across 3 continents. To further expand its scale, enhance its competitive advantage and attain the next level of growth, Minacs requires capital investments, the company added.

Being a conglomerate, Aditya Birla Nuvo constantly evaluates its capital allocation strategy and reviews its business portfolio. Given the multiple growth opportunities and ensuing capital requirements at ABNL, the company decided to divest Minacs to a strategic financial investor, with extensive domain experience, who can ensure that Minacs continues to progress forward on its strategic roadmap, Aditya Birla Nuvo said.

Dr. Rakesh Jain, Managing Director, Aditya Birla Nuvo, said, Considering ABNL’s capital commitment and growth plans for other businesses, the Company has decided to divest Minacs. We are confident that the new shareholders will provide the requisite direction to Minacs and enable it to rise to its full potential.”

The transaction is expected to be completed in 2 to 3 months, subject to the requisite customary and regulatory approvals, ABNL said.

In the foreign exchange market, the rupee edged higher against the dollar tracking the dollar’s losses versus other Asian currencies. The partially convertible rupee was hovering at 62.42, compared with its close of 62.56/57 /11 on Thursday, 30 January 2014.

India’s consumer inflation should ease in the next two months, and will fall to 8% by the end of the year, Reserve Bank of India (RBI) Governor Raghuram Rajan was quoted as saying in an interview with TV news channel on Thursday, 30 January 2014. The comments came after the RBI surprisingly raised the repo rate by 25 basis points on Tuesday, 28 January 2014. The consumer price index eased to a three-month low of 9.87% in December 2013.

Among Asian stocks, the Japanese Nikkei 225 index fell 0.78%.

China’s markets remain closed from today, 31 January 2014 until 7 February 2014 for the Lunar New Year holiday, while Hong Kong is shut until 4 February 2014. Among other bourses shut for holiday are those of Taiwan, South Korea, Indonesia, Malaysia and Vietnam.

Japanese industrial production rose 1.1% on month in December, the Ministry of Economy, Trade and Industry said Friday, on a demand rush ahead of an April sales tax increase. It also comes after a 0.1% decline in November. The increase in industrial output was due to a rise in production in the general purpose and production machinery sectors as well as electronic parts and devices.

Meanwhile, Japanese consumer prices rose at their sharpest rate in over five years in December, the government said Friday. Consumer prices also increased for the whole of 2013, the first annual increase in five years, according to data released by the Ministry of Internal Affairs and Communications.

The core consumer price index, which excludes volatile fresh-food costs, climbed 1.3% from a year earlier in December, faster than a 1.2% gain in the previous month, according to data released by the Ministry of Internal Affairs and Communications. It was the biggest rise since a 1.9% increase in October 2008. The core index for 2013 increased 0.4% after a 0.1% fall the previous year. The CPI including fresh food prices rose 1.6% on year in December.

Employment data released Friday also suggested a strongly recovering economy. The jobless rate fell to 3.7% of the work force, down from 4% in November and the lowest rate since December 2007. The closely watched ratio of available jobs to applicants also improved to 1.03, meaning 103 jobs were on offer for every 100 job seekers.

US stocks rebounded on Thursday, 30 January 2014 as investors welcomed data showing a robust pace of growth in the economy in the final quarter of last year, while upbeat earnings from Facebook Inc. boosted the tech sector.

The US economy expanded rapidly in the final quarter of 2013, the Commerce Department said on Thursday, 30 January 2014 as consumers shrugged off a government shutdown, with the data fueling hopes of even faster growth ahead. The gross domestic product grew at 3.2% annual pace. The economy’s strong year-end performance follows on the heels of a 4.1% growth rate in the third quarter. For the full year, US growth slowed to 1.9% from 2.8% in 2012.

Meanwhile, Janet Yellen will be sworn in as chairwoman of the Federal Reserve on Monday, 3 February 2014, the US central bank announced Thursday, 30 January 2014. Yellen will replace outgoing Fed Chairman Ben Bernanke, whose term as chairman expires on Friday, 31 January 2014.

The Federal Reserve on Wednesday, 29 January 2014, took another gradual step toward exiting its controversial bond-buying program, remaining stoic in the face of market turmoil. As expected, the Fed decided to reduce the pace of monthly asset purchases to $65 billion, from January’s $75 billion. The Fed will purchase mortgage-backed securities at a pace of $30 billion per month and add to its holdings of Treasurys at a pace of $35 billion per month beginning in February.

The Fed also signaled that it is likely to keep reducing its purchases in the coming months, citing a pickup in economic activity and improvement in the labor market.

In addition to proceeding with plans to scale back its bond buying, the Fed made no changes to its other main policy plank: its pledge to keep interest rates low for some time to come. It has pledged to hold rates steady “well past” the point that the unemployment rate falls below 6.5% as long as inflation remains low.

Source:http://www.business-standard.com/article/news-cm/it-stocks-in-demand-on-good-us-economic-data-114013100291_1.html

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