The final regulatory approval for a partnership of the global classified ads businesses of Norway’s Adevinta and the United States based e-commerce group eBay have been granted to the two companies, the Norwegian firm said in a statement on Friday. This deal between the two companies was struck last year and it encompasses Adevinta acquiring…
The auto maker Volvo now plans to build its vehicles using steel that is manufactured through process that does not use fossil fuels by 2026. This is a part of a deal that could help the company to significantly reduce its carbon emissions from its vehicle manufacturing process. A letter of intent for commercialization of…
The United States based lending giant JPMorgan Chase is poised to make a large expansion in the retail banking space kin the United Kingdom and the US bank has now purchased the biggest digital wealth manager Nutmeg of Britain as a part of that expansion strategy. Nutmeg said in a statement that it currently has…
Current CEO of Microsoft Satya Nadella has been selected to become the chairman of company, the tech giant said on Wednesday and will replace independent director John Thompson through a unanimous voting at the board of the global software company. This appointment also reflects the success that Nadela had achieved as the CEO of the…
The revenue for 2020 amassed by the Chinese owner of TikTok, ByteDance, more than doubled, said reports quoting sources with knowledge of the matter. According to the reports, the senior management at the company told employees in a company-wide meeting that it had generated revenue of $34.3 billion in 2020 which marked a growth of…
According to reports in local newspapers in South Korea on Wednesday, the South Korean business of eBay will sold by the American company to local retailer Shinsegae Group’s e-Mart Inc and web portal operator Naver in a deal worth about 4 trillion won ($3.6 billion). According to Euromonitor, with a market share of about 12.8…
It often feels like we are reaching a turning point regarding the functionality of modern economic systems. The COVID-19 pandemic has accelerated the cashless debate, with governments and central banks across the globe debating the merits of cashless societies during crises and the advantages of cashless systems to combat among other things, corruption. Advocates highlight…
The top court of the European Union supported the national privacy watchdogsof thebloc to push ahead with more scrutiny and potential sanctions against Facebook and other Silicon Valley giants even when such watchdogs are not the lead regulators. Citing enforcement bottlenecks, the right of national agencies to act was backed by the EU Court of…
In a statement on Tuesday, Jaguar Land Rover said, it will begin testing a hydrogen based fuel-cell prototype model based on its Land Rover Defender vehicle later this year. The development sees the carmaker expand its zero-emission portfolio. Owned by India’s Tata Motors, earlier this year, JLR said it aims to be entirely electric by…
On Tuesday, Southeast Asian online automotive marketplace Carro said, it has raised $360 million in its latest funding round that was led by SoftBank Vision Fund 2, becoming the region’s latest unicorn. “The valuation for the company is well over a billion dollars,” said Carro, Aaron Tan, the CEO and founder of Singapore-headquartered Carro. Carro…
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