British Airways-owner IAG will issue a bond in the hopes of raising about 1 billion euros ($1.2 billion) which the company says will help it to survive if the slump in the airline industry because of the Covid-19 pandemic continues for longer than expected. Following a year where there was almost no income because of…
On Thursday, Finnish telecom equipment giant Nokia said, it sees its comparable operating margin growing to 10-13% in 2023. Nokia made the statement ahead of presentations to investors later in the day that it expected to grow faster than the market in 2023.
The ride hailing company Uber has said that it will guarantee a minimum wage, holiday pay and pensions for its 70,000 drivers in the United Kingdom, but also assured customers that it will not result in a rise in fares. In a move that analysts said could be have wide ranging implications for the wider…
With its competition with Apple intensifying, Samsung launched three mid-range smartphones on Wednesday aimed at attracting customers who have less cash to spare for purchasing a smartphone. The new models are part of the budget Galaxy A range of Samsung which has gained popularity as a brand as the company’s customers were put off by…
In a statement Finnish telecoms giant Nokia said it plans on trimming up to 10,000 jobs within the next two years. The cost cutting move is aimed at boosting its research capabilities. In a statement Nokia said, it expects to incur around 600 million euros to 700 million euros in restructuring and associated charges by…
In a significant development, SoftBank Corp-owned Japanese messaging app Line allowed Chinese engineers at a Shanghai affiliate to access data on Japanese users without gaining their consent, reported Japanese media on Wednesday. “There hasn’t been anything that breached legal or regulatory boundaries,” said Line’s spokesman. “We always put ourselves to a standard were we want…
The Chinese fintech firm Ant Group has been given a valuation of over $200 billion based on its 2020 performance by some of the global investors of the company, claimed a report published by the news agency Reuters. That was a more sober estimate for the company’s valuation following the suspension of its IPO and…
There seems to be signs of a truce in the fight between the social media giant Facebook and the Australian authorities over the issue of the social media company paying local news outlets for news content used from them as Rupert Murdoch’s News Corp announced coming to an agreement on content supply with Facebook Inc.…
On Tuesday, in a statement NTT Finance said, it aims to establish an investment vehicle which will invest in Israeli tech startups from venture firm OurCrowd’s portfolio. NTT Finance is a subsidiary of NTT Group, which is also known as Nippon Telegraph and Telephone. It said it will commit $15 million into OurCrowd’s portfolio through…
Explosive growth in the number of subscribers for Disney’s video streaming services that were launched just 16 months ago has forced analysts to forecast that the pioneer of the industry Netflix will lose its place as the biggest video streaming provider of the world within the next three years. The total number of subscribers for…
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