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Only once the ATMs are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Ten days on, the banking sector is yet to recover from the government's  demonetisation move. There are two main reasons for this. One, there is just not enough new notes being supplied by the Reserve Bank of India (RBI), even after running its printing presses over time. And the second, there are not enough technicians to recaliberate automated teller machines in the countries. Only once the  ATMs  are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Even as top bankers are assuring public that the situation will normalise in a week, bankers behind the counters think otherwsie. The new 500 notes have not been released in rural areas. Most of the branches just 20-30 kilometers from metros have not seen the new 500 rupee note as the currency chests are currently available only in cities. Even in me...

Microsoft to see 1,850 jobs cuts at struggling smartphone unit Microsoft announced more big cuts to its smartphone business on Wednesday, just two years after it bought handset maker Nokia in an ill-fated attempt to take on market leaders Apple Inc and Samsung Electronics. In a move that clearly puts the stamp of two-year chief executive   Satya Nadella   on the US company, Microsoft said it would shed up to 1,850 jobs, most of them in Finland, and write down $950 million from the business. It did not say how many employees currently work on smartphones in the group as a whole. Shares of Microsoft were trading around $52 late Wednesday, roughly flat with their $51.59 close Tuesday, but significantly up from $34.20 when Nadella became CEO in February 2014. Remaking Microsoft, known primarily for its software, into a more device-focused company was a hallmark of previous chief executive Steve Ballmer. In one of his last major acts, Ballmer closed a deal to buy Noki...