India's IT industry body slams mass layoff reports

Indian software trade body Nasscom on Thursday dismissed widespread media reports of mass layoffs in the country's hugely important information technology industry but warned that the sector must reinvent itself.

Israel's Teva to pay $718 million in Israeli taxes

Israel's Teva Pharmaceuticals Industries Ltd. says it has reached an agreement with the country's tax authority to pay roughly $718 million to settle a series of claims against the drug maker.