On Tuesday, ride hailing service provider Bolt stated, it has raised $109 million (100 million euros) from London-based investment firm Naya Capital Management in a deal which values the company at 1.7 billion euros. Bolt said, it will use the funds to further increase its market share in a sector deeply affected by the coronavirus…
On Friday, French Finance Minister Bruno Le Maire stated, unless Renault adapts it could disappear. The development underscores the amount of support the French automaker requires in order to cope with the fallout from the coronavirus pandemic. In an interview with Europe 1 radio, Le Maire stated, Renault’s French plant in Flins must not close…
Technology companies have begun developing their own contact tracing systems to help prevent and contain the spread of the coronavirus outbreaks in their offices. The development comes in the wake of countries begining to ease lockdown measures and return to the workplace. Juniper Networks Inc plans on equipping its nearly 10,000 employees with work identification…
In the latest U.S. move that strategically targets Huawei, the U.S. government is targeting the Chinese company’s HiSilicon chip business, which is key to Chinese ambition of dominating the semiconductor sector. With the latest U.S. strategic move, Huawei is set to lose access to chip making tools. In what could be the most damaging move…
According to two officials from the U.S. Commerce Department, U.S. regulators are open to introducing changes that will plug, as what some see, a loophole in a new rule aimed at curbing the sale of global chip supplies to blacklisted China’s telecoms equipment maker Huawei Technologies Ltd. The new rule, introduced last Friday by the…
On Wednesday, Michele Bullock, the Assistant Governor of Australia’s central bank stated, the central bank is weighing its option of using its regulatory powers to slash the cost of electronic payments for merchants and consumers. The development comes in the wake of consumers becoming wary of using cash in these times of the coronavirus pandemic.…
On Wednesday, WhatsApp, Facebook’s messaging platform, and PayPal Holdings Inc said, they have invested in ride-hailing, payment, and food delivery app operator Gojek, in the Indonesian firm’s latest funding round. Although WhatsApp and PayPal did not disclose the size of the investment nor their stakeholdings, according to a Gojek investor, WhatsApp’s investment was “meaningful”. In…
On Wednesday, in a statement Facebook Inc said, it has signed a global licensing deal with one of India’s biggest music labels. The deal allows consumers to select songs from Saragama’s gigantic catalogue of Bollywood music for their Facebook and Instagram posts. With the news of the deal reaching the market, Saregama India Ltd’s shares…
According to the results of a survey by Germany’s Ifo economic institute, German carmakers are optimistic about production and exports of vehicles in May. The development comes as a ray of hope in Germany’s economy which has been ravaged by the coronavirus which emerged in Wuhan, China. Germany’s index for export expectations rose to -9.8…
On Wednesday, Polestar, an electric vehicle maker owned by China’s Geely stated, it plans on opening 20 showrooms in the mainland, as it prepares for deliveries of its Polestar 2 electric sedan. Polestar aims to compete with Tesla Inc’s Model 3. Currently, Polestar has just 1 showroom in Beijing. It plans to have 20 of…
In a statement on Tuesday, France’s state-controlled power group EDF said, it has entered into a joint venture partnership with China Energy Investment Corporation (CEI) to develop offshore wind farms in China. EDF will take a 37.5% stake in the project company through its subsidiaries EDF Renewables and EDF China with CEI Group holding the…
On Tuesday, in a significant development, Telefonica Deutschland stated, it will build its core 5G mobile network in Germany using equipment procured from Ericsson; Telefonica Deutschland took this view basing itself on security concerns revolving around next-generation services. Three main mobile service providers in Germany are taking steps to remove Huawei from their core network;…
