Naspers said the sale was for strengthening its balance sheet and to boost growth in its e-commerce business. On Friday, Naspers, a South Africa-based multinational internet and media group, stated it has raised $9.8 billion by selling 2% of its holdings in China’s Tencent Holdings Ltd. A move, it described as being aimed at strengthening…
Although the U.S. action could result in a tit-for-tat trade war, its biggest impact would be the breakdown of supply chain of multinational giants, including Apple Inc and General Motors Co. The presidential memorandum signed by U.S. President Donald Trump, which targets up to $60 billion in Chinese goods, is the start of a long…
As the U.S. President Donald Trump is all set to announce his policy of more tariffs towards China, both Main Street and Wall Street prepare for a showdown between these two economies. Expectations It is expected that Trump would levy import tariffs on Chinese goods worth $60 billion annually which is just a bit more…
Tesla founder and chief Elon Musk will become the richest man in the world by quite a distance if he is able to take Tesla past the $650 billion market value mark within the next decade. This is because of the new payment plan for the CEO of the company which the shareholders of the…
With companies racing to place their autonomous automated smart vehicles on the U.S. market from 2019, this funding program aims to assess the impact, including the feasibility, safety and potential job losses, these technologies will bring about for commercial autonomous vehicles. In a significant development, a U.S. spending bill includes a $100 million for a…
SZ DJI Technology, the world’s biggest maker of civilian drones, is seeking to infuse fresh capital through a combination of new equity and debt; its IPO is slated for 2019. According to three sources with knowledge of the matter, SZ DJI Technology Co Ltd, a Chinese drone maker, is seeking at least $500 million at…
Hackers have managed to gain access to a treasure trove of critical information, including, names, phone numbers, payment card details, billing addresses and e-mails from the partner platform of Orbitz, a subsidiary of Expedia Inc. Orbitz, a subsidiary of online travel agency Expedia Inc has disclosed that hackers have been able to access personal information…
All of JLR’s vehicles, after 2020, will sport BlackBerry’s infotainment software from its QNX unit. On Thursday, Tata Motors Ltd and BlackBerry Ltd stated they have reached a licensing agreement whereby Tata Motors can use BlackBerry’s software in its next-generation electric vehicles. BlackBerry will provide its security and infotainment software to Tata Motors’ JLR unit…
Investigations against luxury car maker BMW on suspicion of the German company cheating emission norms with the use of a software, led German prosecutors to raid the headquarters of the company. Prosecutors said that a site of the company in Austria and the Munich based headquarters of the company were raided by around 100 police…
There are many companies that are now engaged more and more in a race in the market where that deals with manufacturing of perfect hardware for accelerating applications using artificial intelligence. A new market research report from Tractica claims that significant progress has been made in compute – one of the three key parts of…
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