In a significant development, SoftBank-backed used-car platform Kavak has become Mexico’s first ever tech “unicorn”. The startup was valued at $1.15 billion in its latest funding round last month, said its CEO Carlos Garcia. Since its founding in 2016, Mexico City-based Kavak has raised more than $400 million in total funding with SoftBank, Greenoaks Capital…
On Thursday, U.S. electric vehicle maker Tesla Inc stated, it has trimmed the starting price for its China-made Model 3 vehicles by nearly 8% to $36,805.21 (249,900 yuan). The development comes in the wake of Tesla receiving subsidies from the Chinese government for its electric vehicles. Earlier the starting price for its Model 3 electric…
For those countries that has any intention of including telecom equipment manufactured by the Chinese firm Huawei in the creation of 5G networks, the Chinese company is willing and ready to be thoroughly examined so that it can be proved that none of its equipment that it could potentially supply poses no risk to any…
The growing trend of popularity of online retailers was evident once again after the British online grocer Ocado over took the largest supermarket chain of the country Tesco in terms of market value with investors showing greater confidence in the company. Compared to Tesco’s market value of £21.1bn, that of Ocado is now at £21.7bn…
Even if the United Kingdom and the European Union manages to strike a deal on Brexit, the car industry of Britain runs the risk of losing out, claims a report published by the BBC based on documents seen by the media. Some experts see imposing higher tariffs for car parts imported from Japan and Turkey…
Royal Dutch Shell has already embarked on a strategy to shift its core business from oil and gas to low-carbon energy and as a part of that plan the company will be culling jobs of about 9,000 people – which is about 10 per cent of the company’s workforce, the company announced. These layoffs will…
A simple wave of the hand can now be used for making payment, according to an announcement by Amazon about its new payment system targeted for real-world shops. The new payment system is called Amazon One and it uses a scanner that cans and registers an image of the user’s palm. That is used later…
Tesco, the largest retailer of the United Kingdom, wants to be able to sell at least four time more meat alternative protein by 2025 as it does now with a growth in demand for vegan products, the company said. As a part of a sustainability drive, a 300 per cent growth in sales compared with…
With Chinese tech companies increasingly coming under heightened scrutiny in the United States, the Chinese online media firm Sina Corp. has decided to exit Wall Street after being listed there for 20 years. Sina said in a statement that in a deal that values the company at $2.6 billion, the company, which is head quartered…
The decision of China’s Ping An Asset Management of increasing its stake in struggling British lender HSBC has provided a much-needed vote of confidence. The Chinese investor is the largest one of the bank. This came at a time when the bank was caught in the cross hairs of rising diplomatic tensions between the United…
