US rating downgrade may hit India IT hiring by 1/4th

	Dated:August 08,2011

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Top Headlines US rating downgrade may hit India IT hiring by 1/4th Hiring by Indian IT sector, could fall by 1/4 due to the downgrade of US credit rating and the deepening economic crisis, experts said. Accel acquires 51% stake of British Telecom in Accel Frontline IT and media firm Accel Ltd said it has acquired the 51% stake held by British Telecom for Rs 49.9 crore to become a majority shareholder in Accel Frontline Ltd. Government may lower disinvestment target for current fiscal The government on Monday indicated it may lower the Rs 40,000 crore disinvestment target for the current fiscal. Most Read Story Recession 2011: 2011 could be worse for India as US recession looms large Weak finances, persistently high inflation and policy inertia have considerably weakened the government's position today. Most E-mailed Story Deven Sharma - The Jharkhand boy who downgraded US On August 5, S&P, led by Jharkhand-born Deven Sharma, struck off 'AAA' rating of US, considered the Gold standard in the world of finance. Most Commented Story India should learn a lesson from Hong Kong on tackling corruption Hong Kong has become top destination for multinational and Chinese cos, thanks, in large part, to the environment of transparency that prevails there. Latest Updates Goldman raises gold price forecasts Centre to soon consult states on draft Food Bill How to enhance your web browser Russia plans to triple state debt by 2014: Report