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…
In a significant development, the British government is likely to set a deadline for removing Huawei’s 5G related telecommunication equipment from Britain’s telecom network by 2025. Britain’s cultural minister Oliver Dowden is scheduled to make a statement in Parliament on Tuesday on this move; British ministers are pushing to remove Huawei’s telecom equipment from the…
According to three sources familiar with the matter at hand, Facebook Inc is weighing options which include imposing a ban on political ads on its social network in the days leading up to the November 3 U.S. Presidential elections in the United States, reads a report from Bloomberg News. Facebook’s spokesman declined to comment on…
With the aim of reducing its dependence on the saturated smartphone market of the world, Japan Display is no aiming to expanding of its automotive display business. The urgency of the need for the strategy of the Japanese firm can be gauged from the fact that about 60 per cent of its revenues are generated…
Even with a growing number of Covid-19 cases in the state, Walt Disney World will be reopening in Orlando, Florida. The Covid-19, the respiratory disease caused by the novel coronavirus, pandemic has hit Disney very hard. Theme parks of the company across the world have been forced to shut down, operate its sports channel ESPN…
On Friday, in a significant development, in a draft report, a panel that has been tasked to draw up regulation on data collection by tech companies has said, New Delhi should set up a data regulator and require companies to disclose how they collect and store data devoid of personal details. The development underscores India’s…
On Friday, Dutch banking giant ING stated, it will close 25% of its brick-and-mortar bank branches in the Netherlands since the COVID-19 pandemic has accelerated the trend of digital banking. ING, the Netherlands’ biggest bank, said it would shut 42 of its 170 branches in its home market with all of the affected 150 employees…
On Friday, Japanese automaker Honda stated, it has decided to purchase a 1% stake in China’s electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) for an undisclosed amount. Both companies will jointly develop EV batteries. The development comes as EV battery makers and automakers pursue an electric vehicle future. In 2019, CATL had said…
On Thursday, Samsung’s vice president Woojune Kim stated, the South Korean giant was in active commercial discussions with European operators to supply network equipment. The company is investing its resources in 4G, 5G and 6G technologies rather than legacy ones. “The one thing that is a challenge for Samsung entering the UK or European market…
On Thursday, in a significant development, Elon Musk, the CEO of U.S. electric vehicle maker Tesla Inc said, Tesla is “very close” to Level-5 autonomous driving technology. Musk went on to add, he was confident Tesla would attain basic functionality of the technology in 2020. Musk made these remarks via a video message at the…
In a statement SAP said, its business activity gradually improved during the second quarter despite the impact of the coronavirus-induced global lockdown; it saw its revenues and operating profit edge up during the quarter. The German software maker has confirmed its full-year profit outlook. During the second quarter, SAP’s total revenues increased by 2% to…
