Google Inc has launched a music service, “All Access” that allows users to listen to unlimited songs for $9.99 a month, challenging smaller companies like Pandora and Spotify in the market for streaming music. Google has adopted the streaming music business model ahead of rival Apple Inc, which pioneered online music purchases with iTunes. “All Access” service lets users customize song selections from 22 genres, ranging from Jazz to Indie music, stream individual playlists, or listen to a curated, radio-like stream that can be tweaked. It has been launched for US users first, before being rolled out to several other countries.
Yahoo Inc’s board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash.
Eureka Forbes, a Shapoorji Pallonji Group company, has acquired Lux International, a Switzerland-based home appliance firm with a 100-year history, marking the group’s first overseas acquisition. The move came within a short period of the construction conglomerate seeing a leadership change with Shapoor Mistry becoming the Chairman.
Infosys has re-appointed N.R. Narayana Murthy as Executive Chairman and Additional Director with immediate effect. Veteran banker K.V. Kamath would step down as Chairman of the Board and take up the role of Lead Independent Director.