As India’s Tata Group seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors, the biggest industrial conglomerate of India launched an e-commerce venture on Friday. With the aim of making its website a marketplace for in-house and partner companies to sell…
In a move that could seem strange to many, the iconic 122-year-old candy giant Hershey Co. whose annual revenue swelled to more than $7 billion selling chocolate with peanut butter, chocolate with almonds, and just plain chocolate, is now putting a lot of its fortunes at stake on a snack that’s not chocolate. Hershey saw…
Apple Inc is talking to charging station companies, hiring engineers with expertise in the area and investigating how to charge electric cars, reported Reuters citing people familiar with the matter and a review of LinkedIn profiles. Silicon Valley has been buzzing about Apple’s plan to build an electric car for more than a year now.…
Shares of the Chinese e-commerce giant Alibaba were sent tumbling by nearly 7 percent after the company said that the U.S. regulators are investigating Alibaba Group Holding Ltd’s accounting practices to determine whether they violated federal laws. The investigation by the Securities and Exchange Commission was launched earlier this year, Alibaba said. The firms has…
As the German car giant Volkswagen places a huge bet on the future of personal transport, the company has put $300 million into Israeli taxi start-up Gett. The German carmaker’s investment had been preceded just a few months ago by General Motors injected investment of $500 million into US ride-hailing app Lyft. Volkswagen’s investment is…
In what is considered as the Chinese firm’s first intellectual property challenge against the world’s top mobile maker, Huawei Technologies on Wednesday said it sued Samsung Electronics claiming infringement of smartphone patents. Allegations by Huawei is that Samsung had made unlicensed use of fourth-generation (4G) cellular communications technology, operating systems and user interface software in its…
A crucial week in which the future of the struggling British business is likely to be decided in its Indian parent company’s boardroom would have a final list of the potential buyers of Tata Steel UK as the final bids have been submitted from the interested parties. There is a slim chance that a single favored…
Following its acquisition of Franco-American rival Alcatel-Lucent, between 10,000 to 15,000 jobs globally is to be cut by telecom network equipment maker Nokia as part of a cost-cutting program, a Finnish union representative said. While the Finnish company is yet to give a figure for how many jobs will be reduced in total, Nokia had kicked…
In reports that have been confirmed by the company in a statement released on Monday, Bayer has offered $122 per share for Monsanto in an all-cash deal that values the U.S. company at $62 billion. The bid was at a 37 percent premium to Monsanto’s May 9 closing share price of $89.03, the Bayer statement…
In a move that could further challenge the London Metal Exchange’s (LME) dominance, the CME Group is talking to several warehouse companies to expand its metal storage network globally, Reported Reuters quoting three metal industry sources which gave the information. Partly because of a result of controversy surrounding the LME warehouse system, the CME has…
