Users Of Facebook And Instagram Will Be Prohibited To Sell Alcohol And Tobacco

Facebook Inc. will no longer allow any kind of sale and advertising of alcohol and tobacco between users on its two platforms of Facebook and Instagram. “We are updating our regulated goods policy to prohibit the sale of alcohol and tobacco products between private individuals on Facebook and Instagram. Our commerce policies already prohibit the…

Brazilian fintech Nubank raises $400 million in 7th funding round

Nubank was valued at more than $10 billion in its latest funding round. In a statement Brazilian fintech startup Nubank stated, it has raised $400 million in a new funding round led by TCV, a U.S. investment firm. Its existing investors include China’s Tencent Holdings Ltd, Ribbit Capital, DST Global, Dragoneer, and Sequoia Capital. Thrive…

Apple’s Chip Independence Plans To Get A Boost By Its $1B Purchase Of Intel Unit

Apple bought a majority stake in the modem business of United States based chip maker Intel, the two companies announced on Thursday. Analysts see this as a major step by Apple and gaining independence in supply of chips for its smartphones. The deal was worth $1 billion. Apple will take over Intel’s intellectual property, equipment…

US Regulator Slaps Record $5bn Fine On Facebook Over Cambridge Analytica Issue

Following an investigation the Cambridge Analytica data breach related to Facebook which lasted for a year, concluded that the social media company had ‘deceived’ its users about their ability to keep personal information private and hence imposed a penalty of $5bn on Facebook. A lawsuit against Cambridge Analytica was also announced by the United States…

Nike Contemplating Divestment Of Its Surfwear Brand Hurley: Reuters

The largest sportswear making company Nike Inc is reportedly looking at options for its surfwear brand Hurley International which also includes a possible sale of the business unit, claimed a report published by Reuters news agency quoting sources with knowledge of the issue. The possible exit of Nike from the global surfwear market is reflective…

SoftBank commits $40 billion to second Vision Fund

SoftBank’s second fund has already secured funding from Standard Chartered Plc and Goldman Sachs Group Inc. According to a report from the Wall Street Journal, Japan’s SoftBank Group Corp will invest $40 billion in its second Vision Fund. SoftBank’s board will meet on Thursday to approve the commitment. SoftBank’s first, $100 billion Vision Fund was…