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Wipro rewrites growth strategy under new chief Thierry Delaporte

Under the new model, the IT services firm will replace the current structure of its various strategic business units, service lines and geographies with four strategic market units and two global business lines.

IT services company Wipro, which had appointed a new CEO & MD to helm the company, has announced a new structure and a new operating model to support the firm in the next phase of its journey.

The changes will be effective January, the Bengaluru-based firm said in an exchange filing.

Under the new model, the IT services firm will replace the current structure of its various strategic business units (SBUs), service lines and geographies with four strategic market units (SMUs) and two global business lines (GBLs).

The four SMUs will be Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (APMEA).

While Americas 1 and Americas 2 will be organised into sectors, Europe and APMEA will be organised into countries.

“For long now, our growth has been largely dependent on the US market. It is important that we broad base our growth.

“The new model seeks to achieve just this. Besides ensuring adequate sector and domain focus in our go-to-market and execution, the new operating model will help drive growth in non-US markets,” said Thierry Delaporte, CEO & MD, Wipro, in an internal mail addressed to the employees.

“The current complex delivery structure with multiple delivery units will be replaced by a simple delivery model that will yield economies of scale,” he added in a letter which has been reviewed by Business Standard.

While Americas 1 will include healthcare & medical devices, consumer goods & lifesciences, retail, transportation & services, communication, media & info services, technology products & platforms and Latin America, Americas 2 will include banking, securities, investment banking & insurance, manufacturing, hi-tech, energy & utilities and Canada.

Europe will include 6 regions namely the UK and Ireland, Switzerland, Germany, Benelux, Nordics and Southern Europe.

APMEA will have Australia & New Zealand, India, West Asia, South East Asia, Japan and Africa under it.

The SMUs in Europe and APMEA will be responsible for all industry sectors in these regions.

The four strategic market units will be led by individual heads, who will be supported by a newly-created role of chief growth officer, who will be announced soon.

The chief growth officer will play a key role in driving large deals and strengthening relationships with hyper-growth partners, besides overseeing marketing, advisor/analyst relationships, sales excellence and sales enablement.

The company has named Srini Pallia, currently president of consumer business in the company to head Americas1, while Angan Guha, currently a SVP leading the BFSI vertical, to head Americas 2.

NS Bala, who is presently a president heading energy & utilities among others, will manage the APMEA market units.

The leader for Europe will be appointed over the coming weeks.

The two global business lines: integrated digital, engineering & application services (iDEAS) will include domain and consulting, applications & data, engineering and R&D and Wipro Digital.

The second global business line iCORE will include customer information system (CIS), Wipro digital operations and platforms (DOP) and cybersecurity and risk service (CRS) service lines.

Rajan Kohli, currently president for Wipro Digital will lead iDEAS business line, while iCORE will be headed by Nagendra Bandaru, president for cloud, IT infrastructure services, and DOP.

“This is a defining period for Wipro, and the industry. The structural changes I outline are critical to accelerate our growth and reclaim our leadership position in the pantheon of global IT services companies,” said Delaporte in his email.

The company has announced the departure of Milan Rao, president for marketing, innovation & technology, & head of manufacturing and communications business, and Bill Stith, who is a SVP and head of healthcare business.

Both of them will transition from Wipro on December 31, 2020.

Bhanumurthy BM, who was the president and COO, and Anand Padmanabhan, president for business development and strategic sales will retire from Wipro over the coming few quarters, the company said.

Company to have four strategic market units, two business lines

Each units will be headed by a senior leader

Company creates position of chief growth officer

Firm announces departures and superannuation of senior leaders

Changes to help drive broadbase growth, says CEO

Photograph: PTI Photo

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WHO Recommends Against Using Gilead Sciences’ Remdesivir For Covid

The World Health Organization or WHO has warned against using Gilead Sciences’ Covid-19 drug remdesivir to treat hospitalized patients. According to the agency, there is currently no evidence that remdesivir improves survival and other outcomes in these patients.

Remdesivir is an FDA-approved intravenous antiviral drug, sold under the brand name Veklury. It has been approved or authorized for the treatment of Covid-19 in about 50 countries across the world. The drug is supposed to work by stopping the replication of SARS-CoV-2, the virus that causes COVID-19.

As per a WHO Guideline Development Group panel, the evidence suggested that the drug has “no important effect on mortality, need for mechanical ventilation, time to clinical improvement, and other patient-important outcomes.”

The conditional recommendation by WHO against the use of remdesivir is part of a living guideline on clinical care for COVID-19, developed by the panel that consists of 28 clinical care experts, 4 patient-partners and one ethicist.

The group reviewed interim results of the WHO Solidarity Trial along with 3 other randomized controlled trials for the guidelines. In all, data from over 7000 patients across the 4 trials were considered.

The guidelines were developed in collaboration with the non-profit Magic Evidence Ecosystem Foundation that provided methodologic support.

The panel urged for more research, especially to provide higher certainty of evidence for specific groups of patients. They supported continued enrollment in trials evaluating remdesivir.

The WHO decision comes as the U.S. Food and Drug Administration issued an emergency use authorization for Eli Lilly and Co.’s rheumatoid arthritis drug baricitinib, in combination with remdesivir, to treat COVID-19 patients.

The authorization is to treat suspected or laboratory confirmed COVID-19 in hospitalized adults and pediatric patients two years of age or older requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation or ECMO.

Remdesivir received FDA approval on October 22 to treat patients with COVID-19 requiring hospitalization. The drug is indicated for patients of age 12 years and older and weighing at least 40 kg.

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Trump Flips Out At Reporter: ‘Don’t Ever Talk To The President That Way’

Donald Trump lashed out during a Thanksgiving press conference at a reporter who pushed back against his false claims of election fraud, calling the journalist a “lightweight” and telling him, “I’m the president of the United States.”

Reuters White House correspondent Jeff Mason asked Trump if he will concede when the Electoral College votes for President-elect Joe Biden. 

“Well if they do, they made a mistake, because this election was a fraud,” Trump replied, before launching into a tirade about the number of votes Biden got compared to former President Barack Obama.

When Mason interrupted this lengthy digression, Trump snapped, “Don’t talk to me that way.”

″You’re just a lightweight. Don’t talk to me that way. I’m the president of the United States. Don’t ever talk to the president that way,” he added.

This tone typified much of the press conference, in which the president evaded questions about whether he will attend Biden’s inauguration, persistently alleged widespread voter fraud, attacked election officials, and complained that his successor shouldn’t be allowed to take credit for a COVID-19 vaccine.

The president’s outburst sparked much chatter on Twitter from other members of the press. Trump has often insulted and demeaned journalists who ask questions that he doesn’t like.

CNN’s chief Washington correspondent Jake Tapper tweeted that Mason is an “excellent journalist” who will “still be working at the White House after January 20, 2021.”

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‘Killing Spree’: DeSantis Extends Ban On Mask Enforcement Amid Florida COVID-19 Spike

Health experts and local leaders were stunned Wednesday when Florida’s Republican Gov. Ron DeSantis extended his order barring towns, cities, and counties from enforcing local mask mandates even amid a disturbing spike in COVID-19 cases.

DeSantis extended an earlier order prohibiting localities from fining people who refuse to wear masks, effectively rendering mandates unenforceable.

He extended the order less than a week after a bipartisan group of mayors pleaded with him to issue a statewide mask mandate. Experts widely regard masks as a simple, effective way to stem the tide of COVID-19. DeSantis is reportedly no longer taking phone calls from mayors.

Chris King, the 2018 Democratic nominee for lieutenant governor, tweeted a news story of DeSantis’ latest move with a comment calling the decision a “killing spree.”

“I. Have. No. Words. Anymore,” tweeted epidemiologist Dr. Eric Feigl-Ding, a senior fellow in the Federations of American Scientists. “God help Florida. God help us all.”

Florida was one of the last states to institute any restrictions to battle COVID-19. DeSantis then allowed restaurants and bars to reopen at 100% capacity beginning in September. That’s when he also barred enforcement of local mask mandates.

Despite the governor’s order, the city of Miami Beach is planning to enforce its mask mandate — as much as it can — through the busy holiday weekend, WSVN Channel 7 News reported.  It will issue citations and a $50 fine, even though it can’t legally collect the money as long as the governor’s order is in place.

Florida is close to its 1 millionth case of COVID-19 with more than 54,000 hospitalizations and more than 18,000 deaths.

DeSantis has been keeping an extremely low profile this month and wasn’t seen in public for 13 days at one point. He held his last press conference on Nov. 4 — to talk about the election.

“Our governor is nowhere to be found,” State Rep. Carlos Guillermo Smith of Orlando told Spectrum News 13.

“He’s avoiding interaction with the public, he’s not holding press conferences, he’s not taking questions from the media, and there’s a reason,” Smith added. “He doesn’t want to be held accountable.”

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USC Trojans’ Saturday Football Game Against Colorado Canceled; Covid-19 Outbreak Leaves ‘SC Depleted At Key Position

USC’s football game against Colorado scheduled for Saturday at the Coliseum has been canceled and will be declared a no-contest. The action was taken by the Pac-12 because USC does not have the minimum number of scholarship players available for the game at a specific position group as a result of a number of positive COVID-19 cases. According to ESPN, the position group was the offensive line.

USC is currently leading the Pac 12 South at 3-0 after nail-biter wins against Washington and Washington State and a more definitive victory last week against the former division powerhouse Utes. With the victory, the rose to number 18 in the AP’s weekly rankings.

On Tuesday, USC announced that one player had tested positive. The university announced on Wednesday that a second player has tested positive for COVID-19. Another five players quarantined after contact tracing protocols were followed. School officials canceled practice Tuesday and returned to in-person drills on Wednesday before canceling practice again on Thursday when a player showed symptoms of the virus.

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The Pac-12 Conference has established minimum thresholds to play. A team must have at least 53 scholarship players available, including at least seven offensive linemen, one quarterback and four defensive linemen.

Coach Clay Helton told reporters Thursday “there are starters involved” among the two players who tested positive and five quarantined, none of whom have been publicly identified because of privacy laws.

“We are disappointed for our players and fans and those from Colorado that Saturday’s game will not be played, but the health and safety of everyone in both programs is of the utmost priority,” Helton said in a statement posted to Twitter Thursday night. “Our players have worked hard since the summer not only to prepare for this season, but to do so in a safe manner by following all health protocols. I applaud their discipline and sacrifice in doing so. We will continue to test and monitor our players, coaches and staff and take guidance from health officials as we prepare for our remaining games.”

The NFL postponed the Baltimore Ravens’ primetime Thanksgiving matchup against the unbeaten Pittsburgh Steelers, moving it to Sunday. Baltimore had at least 10 positive Covid-19 tests, according to the NFL.

The decision to push from Thursday to Sunday “was made out of an abundance of caution to ensure the health and safety of players, coaches and game day personnel, and in consultation with medical experts,” the NFL said in a statement.

The Trojans’ next scheduled game is Friday, Dec. 4 at home against Washington State.

The Pac 12 canceled two other games earlier this week, as well.

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Donor In Trump’s Election ‘Fraud’ Fight Sues To Snatch Back His $2.5 Million Contribution

A major contributor to a group backing President Donald Trump’s fight to overturn the presidential election sued to recover $2.5 million in donations after the campaign failed in several court cases and was unable to prove any fraud.

The lawsuit filed Wednesday in U.S. District Court in the Southern District of Texas by North Carolina venture capitalist Fred Eshelman argued that the nonprofit group True the Vote promised to keep him informed of how his millions were being used in what was pitched as a strong case against alleged election fraud. Instead, the suit alleged, he was fed “vague responses, platitudes and empty promises of follow-up” that never occurred.

He was kept in the dark when weak cases filed in Wisconsin, Michigan, Georgia and Pennsylvania were voluntarily withdrawn in a decision the investor claimed was made in “concert with counsel for the Trump campaign,” the suit said.

In the Wisconsin case, Republican powerhouse attorney James Bopp promised that “evidence will be shortly forthcoming.” But Bopp withdrew the case last week just hours before scheduled oral arguments without ever providing a shred of evidence. Bopp won the the infamous Citizens United case before the U.S. Supreme Court, which opened the floodgates of dark money into campaigns.

A fed-up Eshelman last week ordered True the Vote in an email to immediately wire back his contribution. When the organization failed to comply, he filed the lawsuit. 

Eshelman is a major Trump backer who has twice donated the maximum allowable individual contribution of $2,700 to Trump’s campaign, as well as a $100,000 contribution to the Trump Victory PAC, according to records.

HuffPost could not immediately reach True the Vote, the only plaintiff named in the suit.

Trump has refused to concede the presidential election and continues to complain about massive voter fraud without any evidence to support his allegations. He again claimed in remarks at the White House Thursday, “There was massive fraud.”

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Trump says coronavirus vaccine deliveries will start next week

Trump: ‘It was a rigged election, massive fraud has been found’

President speaks on election results saying ‘it’s the most important story of our time’

President Trump said Thursday evening that coronavirus vaccine deliveries will begin as early as next week. 

"The whole world is suffering and we are rounding the curve," Trump said. "And the vaccines are being delivered next week or the week after."

The announcement came during a special Thanksgiving holiday message to U.S. troops overseas via teleconference. Trump noted that front-line workers, medical personnel and senior citizens would be the vaccine's first recipients.

TRUMP SAYS HE WILL LEAVE OFFICE IF ELECTORAL COLLEGE VOTES FOR BIDEN

He also argued that his opponent, President-elect Joe Biden, should not be given credit for the vaccines, which he referred to as a "medical miracle" before repeating claims of voting irregularities in the 2020 election.

"Joe Biden failed with the swine flu, H1N1, totally failed with the swine flu," Trump said. "Don't let him take credit for the vaccines because the vaccines were me and I pushed people harder than they've ever been pushed before and we got that approved and through and nobody's ever seen anything like it." 

President Donald Trump speaks with reporters after participating in a video teleconference call with members of the military on Thanksgiving, Thursday, Nov. 26, 2020, at the White House in Washington. (AP Photo/Patrick Semansky)

Trump's comments come ahead of a Dec. 10 meeting, where regulators at the Food and Drug Administration will review Pfizer's request for an emergency use authorization for its vaccine developed with BioNTech. 

The latest trial data for Pfizer and BioNTech's vaccine, unveiled earlier this month, showed it was 90% effective.

In addition, Moderna said its vaccine is 94.5% effective in preventing COVID-19. AstraZeneca also reported preliminary results that showed its vaccine efficacy ranged from 62% to 90%, depending on the dosage amount given to participants.

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According to the latest update from Johns Hopkins University, there are more than 12.8 million confirmed coronavirus cases and more than 263,000 related deaths in the U.S. 

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European Shares Seen Opening Flat To Higher

European stocks look set to open higher on Friday, taking a lead from a strong Wall Street session overnight.

The upside, however, could be limited amid signs the global recovery may be losing momentum.

As G20 leaders meet virtually this week, the International Monetary Fund has warned that the economic path ahead remains difficult and prone to setbacks.

Meanwhile, the U.S. Treasury Department has asked the Federal Reserve to return unspent money allocated under the CARES Act to Congress, prompting criticism from the central bank and adding to market anxiety about broader economic growth.

The Fed responded to the decision in a rare public statement, saying it would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for the still-strained and vulnerable economy.

People familiar with the decision say that either Mnuchin or a new Treasury secretary from the Biden administration may decide to renew emergency loan programs.

As the U.S. sees the fastest spread yet of the coronavirus, U.S. President-elect Joe Biden assailed the Trump administration’s lack of cooperation on the presidential transition, saying it hindered his team’s ability to get up-to-date information on the pandemic.

Asian markets are trading mixed in cautious trade and the dollar halted its slide while oil prices remain little changed.

Public sector finances and retail sales data from the U.K. are due later in the session, headlining a light day for the European economic news.

Overnight, U.S. stocks ended in positive territory as news that Congress will resume talks for a new Covid-19 relief bill helped outweigh concerns over rising virus cases and mixed economic readings.

The Dow Jones Industrial Average edged up 0.2 percent and the S&P 500 rose 0.4 percent while the tech-heavy Nasdaq Composite gained 0.9 percent reflecting expectations that new Covid-19 lockdowns will benefit technology companies.

European markets fell on Thursday on worries about rising coronavirus cases and the economic impact of regional shutdowns.

The pan European Stoxx 600 gave up 0.8 percent. The German DAX dropped 0.9 percent, France’s CAC 40 index shed 0.7 percent and the U.K.’s FTSE 100 declined 0.8 percent.

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New York Governor Cuomo called the Supreme Court ruling that blocked some COVID-19 restrictions on religious services 'irrelevant'

  • The Supreme Court blocked some COVID-19 restrictions on religious services in New York state.
  • The 5-4 ruling was in favor of the Catholic Diocese of Brooklyn and Orthodox Jewish synagogues, who said they were being unfairly singled out by the rules.
  • Governor Cuomo said that the ruling was "irrelevant…an opportunity for the court to express its philosophy and politics."
  • Visit Business Insider's homepage for more stories.

New York Gov. Andrew Cuomo called a Wednesday Supreme Court ruling "irrelevant," Reuters reported.

The Supreme Court ruled 5-4 against New York state COVID-19 restrictions that limited attendance at religious services in places with extreme COVID-19 outbreaks, designated red or orange zones.

Cuomo told reporters on a call Thursday that the decision would not impact New York's rules, because the area in the case was no longer considered to be a red zone.

"It's irrelevant from any practical impact because the zone that they were talking about has already been moot," he said.

The case was brought by the Catholic Diocese of Brooklyn and two Orthodox Jewish synagogues who said they were being unfairly singled out by the rules, according to Reuters. 

The case was based on an October decision by Cuomo to shut down non-essential businesses in areas with severe outbreaks. The state divides areas into yellow, orange, and red based on severity of coronavirus infections, and religious services in red zones were limited to 25% capacity, or ten people. The diocese said that it was being singled out over other businesses in the same zone.

"I think this was really just an opportunity for the court to express its philosophy and politics," Cuomo said about the decision, made by the court's conservative majority. Chief Justice John Roberts joined liberal justices in dissenting.

Roberts wrote that the rules seemed "unduly restrictive," but he also noted that he believed relieving religious services from the order was unnecessary, as the rules were no longer in place.

New Justice Amy Coney Barrett joined the conservative majority, allowing the court to rule differently on the matter than it had earlier when Justice Ginsburg was on the bench. 

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Twitter claims it has reversed ban of link to Sidney Powell's Georgia election lawsuit

Senators question Facebook, Twitter CEO’s on election interference and censorship

‘Kennedy’ host and panel break down hearing on Big Tech election interference and censorship

Twitter claims it has reversed its censorship of a link to the lawsuit filed by attorney Sidney Powell that seeks to change the outcome of Georgia’s 2020 election results.

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The lawsuit, filed on Wednesday evening, alleges multiple constitutional violations, citing experts, fact witnesses and statistical improbabilities within the results. The plaintiffs seek to decertify the 2020 election results in the state and have Trump declared the winner.

“The URL referenced was mistakenly marked under our unsafe links policy — this action has now been reversed,” a Twitter spokesperson told FOX Business. The warning still appeared when FOX Business clicked on the link.

Twitter says it sometimes takes action to block links to content outside Twitter. Links are blocked if they are deemed to be malicious and used to steal personal information, spam that mislead people or disrupt their experience or violate Twitter’s rules.

Twitter, and other technology companies including Facebook and Google, have in recent months come under fire from Republican lawmakers who argue the companies unfairly target posts from conservatives.

CEO Jack Dorsey testified earlier this month that between Oct. 27 and Nov. 11 Twitter labeled or removed 300,000 false or misleading tweets about the election. More than 50 tweets from President Trump have been labeled since Election Day.

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Twitter’s censorship of conservative voices has been a boon for competing social media platform Parler, which in the days after the election shot up to No. 1 in Apple’s App Store for the first time.

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