On Tuesday, Grab announced a trimming of its workforce citing the coronavirus which emerged from Wuhan China. The Southeast Asian ride-hailing and payments services firm, considered Southeast Asia’s most valuable startup with a valuation of $14 billion, informed staff of the move at a townhall, said two sources with knowledge of the matter at hand.…
In a significant development that marks a tweak in its China strategy, Washington has confirmed that it will amend its prohibitions on U.S. companies doing business with China’s Huawei and allow them to work together on setting standards for next-generation 5G networks. The U.S. Commerce Department along with other agencies have signed off on the…
According to the results of a Apple-backed study, which for the very first time sought to quantify activity at its AppStore which does not produce a commission for Cupertino, it was found that the App Store spurred $458 billion in sales in 2019 from categories which includes retail of physical goods, ride-hailing and advertising. For…
On Monday, e-learning company Skillsoft Corp stated, it has filed for pre-packaged Chapter 11 bankruptcy in order to trim its debt of around $2 billion. Skillsoft has agreed to enter into a restructuring agreement with majority of its lenders that would help it trim its debt to $410 million. Skillsoft filed for bankruptcy in the…
In a statement Germany’s Health Minister Jens Spahn said, Germany is scheduled to launch its coronavirus tracing smartphone app later this week. The development comes after brief delays to ensure the Bluetooth technology would work at the correct distance. The tool will play a critical role to help avoid a second wave of infections in…
The first commercial product from OpenAI, the machine learning nonprofit co-founded by Elon Musk, was released. This is a rentable version of a text generation tool which was once considered to be too dangerous to release by the organisation itself. Businesses are allowed to directly access the most powerful version of GPT-3, OpenAI’s general purpose…
The California, United States based video conferencing app owner Zoom has become very popular in China in recent months as the Chinese found this app a way to get connected with the outside world with the so called Great Internet Wall, a form of state censorship on the internet in China. However the services seem…
Face masks or all riders availing Uber services in the United Kingdom will be made mandatory by the ride sharing company starting next week. The measure was being taken by it “to help everyone stay safe”, said the minicab app firm. It added that measures to give access to drivers to protective equipment have also…
As many as 1,200 stores worldwide of the owner of the clothing brand Zara will be closed in an effort to provide a boost to the online sale of clothing amidst the chaos to its business because of the outbreak novel coronavirus pandemic. Between 1,000 and 1,200 mainly smaller stores will be “absorbed” by it,…
In an interview to Brazilian newspaper Folha de S.Paulo, the U.S. ambassador to Brazil, Todd Chapman stated, Washington is in talks with Brasilia on a funding framework for the acquisition of 5G telecommunications gear produced by Nokia and Ericsson. This type of funding is a matter of “national security” to Washington and aims to “protect…
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