According to a source familiar with the matter at hand, online retail giant is set to face antitrust charges from the European Commission over its usage of merchant data, said EU’s antitrust chief Margrethe Vestager. The European Commission has been investigating the online retailer’s dual role, of that of a marketplace for merchants as well…
In a significant development in a statement drugmaker Pfizer Inc said, its experimental COVID-19 vaccine has been effective more than 90%, as per initital trial results. The development marks a major victory in the war the Wuhan coronavirus-induced COVID19 pandemic which has killed more than a million people globally and has brought the growth of…
In a significant development, in a statement Richard Branson’s Virgin Hyperloop said, it has completed the world’s first passenger ride on a super high-speed levitating pod system. The development marks the passing of a key safety test in this next generation transportation technology which will transform human and cargo transportation in the coming future. In…
In a significant development that sees Facebook gaining entry into India’s booming digital payment space, WhatsApp has been granted approval to role its payments service in India. WhatsApp, which has over 400 million users in India, its biggest market, will compete with Alphabet Inc’s Google Pay, Softbank- and Alibaba-backed Paytm and Walmart’s PhonePe. Menlo Park,…
In a statement the U.S. Justice Department stated, it had seized more than $1 billion worth of bitcoin associated with the underground online marketplace Silk Road. The Justice Department is seeking the forfeiture of the bitcoins, which had been in the possession of an unnamed hacker who had stolen them from the “notorious” website. The…
According to sources familiar with the matter at hand, Comcast and Walmart Inc are in collaborative talks to develop and distribute smart TVs. Under the terms of discussion, Walmart will promote TV sets running Comcast software and in return get a share of recurring revenues from Comcast. Comcast is competing with Apple TV+ and Netflix…
On Tuesday, Hong Kong’s securities watchdog stated, the city will require every cryptocurrency trading platforms to be regulated regardless of whether they trade securities. In a statement Hong Kong’s Securities and Futures Commission (SFC) said, previously the regulatory framework for cryptocurrency trading platforms had the ‘opt in’ option; now this has become mandatory, said SFC…
In a statement chip supplier Marvell Technology Group Ltd said, it has agreed to acquire Inphi Corp in a cash and stock deal worth $10 billion aimed at broadening its footprint in the 5G network infrastructure and in the data centers space. While Marvell supplies chips that move data around on copper-based cables, its peer…
In a significant development, for the very first time, developers across the globe are testing the usage of hydrogen to power ships. The development comes as the maritime industry races to find technologies to slash carbon emissions; there is also a growing confidence that LNG can be used safely commercially. The United Nations has set…
In a significant development United Microelectronics Corp (UMC) stated, it has pleaded guilty to trade secret theft in the United States, and will be paying a fine of $60 million and will cooperate with the prosecution of China’s Fujian Jinhua Integrated Circuit Co Ltd. Two years ago, the U.S. Department of Justice (DOJ) had indicted…
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