Shared office provider, WeWork told employees that it has managed to slow down its cash burn rate by nearly 50% from December 31, 2019 and that it has secured a $1.1 billion finance commitment from its majority owner SoftBank Group Corp. In an e-mail to employees, the company said, while the coronavirus pandemic had hurt…
With Google and Apple removing “Fortnite”, a popular video game from their app stores for violating their in-app payment guidelines, game developer Epic Games has filed federal antitrust lawsuits challenging these very rules in court. Both, Google and Apple have cited the direct payment feature on the Fortnite app as a violation of their app…
While downplaying the threat of a ban on its chatting app WeChat, its owner Tencent believes that the ban will only impact its operations in the United States. An equivalent messaging platform called Weixin is run by the tech giant in China and the company hopes that that service will remain unaffected. Tencent believes that…
In a statement, U.S. electric truck maker Nikola stated, it was open to collaborating with South Korea’s Hyundai Motor on hydrogen technology. The development comes in the wake of Chosun Ilbo, a South Korean newspaper publishing a report on Sunday, saying Trevor Milton, Nikola Corp’s founder, wants to collaborate with Hyundai Incidentally, this is the…
The Chinese owned short video sharing app TikTok could no longer be allowed to app in app stores of the United States s well as not be able to publish any advertising on the platform according to the executive order banning the app by US President Donald Trump, said a report published by the news…
A radical change in the configuration of its offices is being planned by British Petroleum (BP). According to the plan, the oil and gas giant could reduce the properties its holds by almost 50 per cent by shifting about 50,000 employees towards remote working and flexible workplace layouts because of the novel coronavirus pandemic. According…
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…
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