U.S. private equity firm General Atlantic LLC and SoftBank Group Corp invests $107 million in Brazilian facial recognition startup Acesso Digital

In a statement Brazil’s facial biometrics and digital admission startup Acesso Digital said, Japan’s SoftBank Group Corp and U.S. private equity firm General Atlantic LLC are leading a $107.25 million (580 million reais) funding round. Following the investment, both, General Atlantic and SoftBank, will hold a minority stake in Acesso Digital. Founded in 2007, Acesso…

After Accusations By Short Seller, Nikola Founder Trevor Milton Steps Down As Chairman

Following accusations by a short seller against the hydrogen and electric truck startup Nikola was misleading investors and overstating the value of a business deal, the company’s founder Trevor Milton has voluntarily stepped down as the executive chairman of the startup. Nikola said in a statement on Sunday that Milton has also resigned from the…

China unveils financial incentives to boost adoption of hydrogen fuel cell vehicles

On Monday, China finance ministry stated, it plans on rolling new policies to support hydrogen fuel cell vehicles in order to boost the industry’s supply chain and related technologies. China has emerged as the world’s biggest market for new energy vehicles (NEVs), which includes plug-in hybrids, battery electric vehicles as well as and hydrogen fuel…

Pressure In UK On Google And Facebook To Stop Children’s Ads

An open letter signed members of parliament of the United Kingdom, academics and children’s-rights advocates have urged tech firms to stop advertising to its users who are under the age of 18 years. The letter says that it is not only n individual’s privacy that is undermined by behavioural advertising but it also pits “susceptible”…

TikTok Like App Launched By YouTube In India, To Be Taken To Other Market Soon

Google’s YouTube is here with its own version of the popular video sharing app TikTok. The launch of Shorts, its new short-form video feature, was announced by the Google-owned company earlier this week. The first place where YouTube intends to launch the early beta version of the product is India where the government had banned…

Trump does not want ByteDance to have controlling stake in TikTok: senior administration official

According to a senior administration official who spoke on the condition of anonymity, regardless of how China’s ByteDance positions the divestment of its short video sharing app TikTok, U.S. President Donald Trump does not want it to have a controlling stake in TikTok, since it will place Americans’ personal information at risk. Despite China’s bravado…

Prices of Huawei phones rising every hour on fears on shortages

Chinese consumers are rushing to purchase Huawei’s smartphone featuring its high-end Kirin chips, fearing that the company’s production of its premium handsets will face punitive curbs by U.S. trade action. According to Huaqiangbei, smartphone vendors in China’s southern city of Shenzhen, are seeing a steady rise in the prices of used and new Huawei phones…