Shell To Take A Hit Of $22 Billion Due To Coronavirus Price Drop

The constant lowering of global oil prices over the last few years, which has been compounded by a slump in demand for oil and gas because of the novel coronavirus pandemic is has forced the Anglo-Dutch company, Royal Dutch Shell, to write down the value of its assets by as much as $22 billion. These…

Advertisement

Facebook Has ‘No Incentive’ To Allow Hate Speech, Says Its VP On Ad Boycott Campaign

With a growing list of corporate advertisers agreeing to join the #StopHateForProfit campaign aimed at pressurizing Facebook to take stringent measures to stop the spread of hate, the largest social media company of the world is facing an advertising boycott that is has never experienced in its recent history. Some of biggest advertisers on Facebook,…

Coca-Cola To Halt Paid Promotions On All Social Media Platforms Globally

All paid advertisements on all social media platform globally will be stopped for at least 30 days by Coca-Cola, the company has announced. In its statement however the company confirmed that it would not be joining the official advertisement boycott campaign of social media platforms by companies, but said “we are pausing” advertising. After the…

Netherlands starts 5G auction with floor price of $1 billion

On Monday, in a significant development, the Dutch government began auctioning airwaves for 5G networks with a floor of $1 billion (900 million euro). Telecommunication companies including Vodafone, KPN, and T-Mobile are participating. The auction is for the 700, 1400 and 2100Mhz frequency ranges. The companies will submit bids in a series of daily rounds…

Sony tweaks business model, aims for subscription based model rather than solely rely on hardware sales

In a development that signals a change in its business model, Sony Corp stated, it’s image sensor business aims to replicate the PlayStation’s success to address its reliance on a handful of manufacturers in the fiercely competitive smartphone market – it plans on selling software by subscription for data-analyzing sensors in situ. Much akin to…

China’s state-owned airlines take delivery of single-aisle short haul ARJ21 aircraft

In a significant development, three of China’s biggest state-owned airlines have taken delivery of their first ARJ21 short haul 90-seater aircraft made by state-owned Commercial Aircraft Corporation of China (COMAC). In a statement COMAC said, China Eastern Airlines Corp Ltd, Air China Ltd, and China Southern Airlines Co Ltd have received the aircraft; they would…

New The New Owner For Virgin Australia Is In US Private Equity Firm Bain Capital

Virgin Australia, the airline that went into administration about two month ago, now has a new owner. The United States private equity firm Bain Capital has been selected by the administrators to take over the carrier. The administrators however did not disclose any details of the deal. Another bidder for the collapsed airlines was Cyrus…