Hackers stole $31.5 million from Bithumb, the 6th busiest cryptocurrency exchange in the world. According to a notice put up by Bithumb on its website on Wednesday, it has stopped all of its trading activities after it ascertained that “some cryptocurrencies worth about [$31.5 million] 35 billion won has been seized between late yesterday and…
According to CB Insights, Mercari is one of Japan’s two unicorns. On its market debut its market cap touched $7.4 billion. The other unicorn is Preferred Networks Inc, an IT startup. On Tuesday, the share prices of Mercari Inc, a flea market app operator, jumped by 100% in their stock market debut in Tokyo and…
For Google, the investment will benefit in terms of improved analytics and market reach in China, one of Asia’s fastest growing economies. In an effort aimed at expanding its presence in one of Asia’s fastest growing economy, Google is set to invest $550 million in China’s e-commerce firm JD.com. The strategic move is also aimed…
Qualcomm is set to use NXP’s assets to diversify its business. According to a South China Monitoring Post report, China’s regulators have approved U.S. chipmaker Qualcomm Inc’s $44 billion merger deal with NXP Semiconductors. According to sources familiar with the matter at hand, the decision by China’s Ministry of Commerce clears a multi-months roadblock which…
By 2022, India aims to increase its solar energy capacity by 5 times to 20GW. On Friday, Japanese public broadcaster NHK reported, without citing sources, SoftBank Group Corp has decided to invest $60 billion to $100 billion in the solar industry in India. A formal agreement is expected to be signed soon between the Indian…
Chang’e-4, which is relay satellite and one that is being touted to be the first ever probe to land safely on the far side of the Moon, would help in the establishment of a communication link between the far side of the Moon and the Earth. It will join a satellite already positioned strategically near…
According to a latest report, Brexit trade barriers would reduce UK household income by up to £1,000 a year, reported the BBC. The cost to the UK economy could total £27bn because of the most negative scenario of high Import Tariffs And High Regulatory Barriers, Says Global Consultancy Firm Oliver Wyman. Supply chain disruption could…
A firm named Luminar, which is a little more than 7 years old and whose founder was barely legal to get a driver’s license while when founding the startup, finds itself at the centre of the growing self-driving car industry. Luminar offers acritical sensors for self-driving cars and the latest automaker to team up with…
A warning from the International Monetary Fund said that the world’s trade system would be undermined and the U.S. economy could be hurt by the trade policies of the Trump administration. A trade war would result in “losers on both sides” and can present a “serious” impact, said IMF Director Christine Lagarde. This caution was…
In the next two years, about 4600 jobs would be lost at engineering firm Rolls-Royce as a part of a large reorganization in the company. The burnt of the hit is to be borne by middle managers and back-office staff with the possibility of its Derby base getting hit hard. Civil aerospace, defence and power…
Facebook-owned data security app called Onavo Protect could be trouble because of the decision by the social media company to limit the ability of developers to access and use data of users from mobile phones. Onavo apparently provides a free virtual private network (VPN) to its users that the firm claims helps “keep you and…
The headwinds stem from the outcome of an investigation which concluded that ZTE and Huawei Technologies are Chinese telecommunications firms that are linked to the Chinese Communist Party’s intelligence apparatus. According to U.S. lawmakers, legislation has already been prepared to block the Trump administration’s agreement with China which allows ZTE Corp to resume business ties…
