This is SoftBank’s second investment in Mexico after it invested $20 million in Clip, a payments firm. In a development that sees an expansion in SoftBank’s growing portfolio in Latin America, the Japanese conglomerate said, it will be investing in Kavak, a Mexican used car platform. “We are proud to join with and invest in…
According to the U.S. motorcycle maker testing of LiveWire is going “well”. Following the discovery of a glitch during final quality checks, U.S. motorcycle giant Harley-Davidson Inc stated, it has stopped the production and deliveries of its first electric motorcycle. In a statement the motorcycle maker stated, it has discovered a “non-standard condition” with its…
New rules drafted for Germany allows a level playing field for all telecom equipment vendors. On Monday, in a significant development, Germany has finalized rules to build its 5G mobile networks which does not exclude China’s Huawei Technologies. German government officials have confirmed that Germany’s security catalogue foresaw an evaluation of technical and other criteria…
New York City’s Taxi and Limousine Commission (TLC) has set a 31% limit on how much time drivers of app-based vehicles can drive without passengers in Manhattan south of 96th Street. In a development that mirrors Uber’s move to sue the New York City state in order to nullify a new rule which limits the…
WeWork is trimming its footprint in China and is expanding it in Singapore. On Thursday, Office-sharing startup WeWork stated, it plans on opening two new locations in Singapore later this year. The development comes even as WeWork seeks a $1 billion loan from its biggest-backer Softbank Group Corp in order to progress on its major…
A report prepared by the G7 group says that until such time that Facebook is able to prove the safety and security of its Libra cryptocurrency, the planned digital currency must not allowed to go ahead, claimed a report published by BBC. Analysts see this as a big blow to the aspirations of Facebook to…
With the likes of Disney and Apple Inc. entering the video streaming business, there are apprehensions about whether Netflix, the pioneer in the video streaming industry, be able to weather and survive the soon-to-start streaming wars. Despite the apprehensions, United States based banking and investment firm Goldman Sachs strongly believes that Netflix will be able…
If “everything goes according to plan” in upcoming tests, the first astronaut abroad SpaceX’s new Crew Dragon capsule will be able to go into orbit in its first manned flight by the first quarter of next year, said NASA chief Jim Bridenstine. This announcement of a revised time line for the flight shows that progress…
There was a 30 per cent drop in sale for the United States based car major Ford in the Chinese market for the July-to-September period as the second-biggest market of the company has been witnessing a prolonged period of sale drop on across the sector. The company had reported a 35.8 per cent drop in…
The chief executive of the French car manufacturer Renault Thierry Bolloré, has been unceremoniously dismissed by the company with immediate effect. The company has also appointed the current finance director, Clotilde Delbos, of the company an interim chief executive. Earlier this week, the Japanese car maker Nissan, Renault’s industrial partner, appointed a new chief executive.…
Following the emergence of reports about the ten-fold increase in losses at the UK subsidiaries of the embattled office space company WeWork touching £76m last year, the company’s co-founder Adam Neumann is no longer a multibillionaire. It is estimated that as of March this year, the personal assets of Neumann was worth $4.1bn (£3.2bn) and…
Amnesty International’s report details how booby-trapped text messages were used to collect information stored locally on cellphones. A research by Amnesty International has uncovered that hackers armed with sophisticated spying software have been targeting Moroccan human rights activists midst a government crackdown on protests in recent years. The report released by the British non-profit human…
