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India's TCS, Infosys see revenue dips on client spending cuts
India's TCS, Infosys see revenue dips on client spending cuts

Indian IT giants TCS and Infosys both signalled weak revenue growth in quarterly results Thursday as a client spending slowdown deepened a seasonally weak time for the sector. Revenue from TCS operations was 605.8 billion rupees ($7.29 billion) for the December quarter -- a four percent on-year increase that represents its lowest revenue growth figure in two years.

US consumer inflation jumps more than expected to 3.4%
US consumer inflation jumps more than expected to 3.4%

Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the bumpy road to cooling price increases as the presidential election looms. From November to December, CPI rose 0.3 percent, up from the prior month's figure as well.