In a significant development, U.S. President Donald Trump stated, the United States will ban China-owned ByteDance’s TikTok video-sharing app, and Tencent’s WeChat app, in 45 days. The development comes in the wake of the Trump administration stepping up efforts to purge “untrusted” apps, including Chinese ones, from its digital networks citing “significant threats” posed by…
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…
In a notable court ruling in the United States, a judge in California has ruled that the two rivaling ride hailing companies Uber and Lyft will now have to classify their drivers as employees and not treat them as mere freelancers. The court gave the two companies a period 10 days to file an appeal…
Following a complaint that it had been sent to it in May against the Chinese owned short video sharing app TikTok, the data privacy watchdog of France, CNIL said on Tuesday that it was initiating a preliminary investigations into the app and its activities and business practices. Data regulators in the United States, the European…
In a significant development, the Trump administration has unveiled plans to auction off 100 megahertz of mid-band spectrum that was previously reserved for military purposes. The commercial use of this spectrum is slated to start from mid-2022. The Federal Communications Commission (FCC) aims to auction this spectrum to companies including Verizon Communications Inc and AT&T…
According to the results of a global survey by accounting firm PwC that was released on Tuesday, 75% of CEOs expect remote working to become more widespread in their businesses as a result of the coronavirus. London, New York, and most major cities currently have only a fraction of their normal workforce in offices. Employers…
According to sources familiar with Microsoft’s timeline to carve out TikTok’s U.S. operations from the rest will be a technically complex endeavor which could test the patience of the U.S. administration. While Microsoft has until September 15 to piece together a blueprint for an acquisition that safeguards the personal data of Americans stored on TikTok’s…
South Korean auto giant Hyundai Motor Co said, it is in the process of creating a family of electric vehicles which will be sold under the Ioniq brand which it expects to become the world’s third-largest EV seller by 2025, said the company. The “elevation of Ioniq from an individual vehicle nameplate to a brand”…
“Substantial agreement” on most of the elements of a post-Brexit trade deal was reached between Britain and Japan earlier this week after two days of talks. It has been reported that during the talks, moves to restrict British farm exports was resisted by UK trade secretary Liz Truss. The elements of the trade deal between…
Following the announcement of a possible ban on TikTok by the United State president Donald Trump within 45 days, the Chinese owned short video sharing app has been preparing its advertisers for the worst situation by offering refunds for campaigns that the app owner was unable to run on the platform, said reports quoting ad…
On Friday, Germany’s Ifo economic institute stated, the country’s industrial sector, which ot battered due to the Wuhan coronavirus induced lockdown, expects an increase in production levels in the coming three months. “The industrial sector is continuing to work its way out of the trough in production,” said Ifo economist Klaus Wohlrabe following the publication…
In a statement on Friday, Southeast Asia’s biggest country Indonesia said, it has added, Facebook, TikTok, Disney, Amazon, Netflix, Spotify, and Google to the list of tech companies which will have to pay a 10% value-added tax on their sales in the country. With a population of around 270 million, Indonesia is a big market…
