According to a senior cybersecurity official with the Federal Bureau of Investigation, foreign government hackers have managed to break into companies which are conducting research into treatments for COVID-19 – the respiratory illness caused by the coronavirus. During an online panel discussion hosted by the Aspen Institute, FBI Deputy Assistant Director Tonya Ugoretz disclosed to…
There has been a surge in the personal wealth of Amazon CEO and entrepreneur, Jeff Bezos, by about $24 billion so far during the coronavirus pandemic which was about a 20 per cent growth in his fortunes over the last four months. His personal wealth is now believed to be about $138 billion. With an…
A 32 per cent drop in first quarter profits was reported by the lender Morgan Stanley amid the coronavirus pandemic months which caused a complete stalling in deal making. The bank also warned of further hit to its operations and consequently profits because of the pandemic in the next few months too. The results of…
In a statement, Xilinx Inc, an American semiconductor firm stated, it had won a deal to supply chips to Samsung Electronics Co Ltd for 5G networking equipment. It did not disclose the financial terms of the deal. Xilinx makes programmable chips used in telecommunications equipment including those used in base stations made by Ericsson, Nokia…
According to data from auto consultancy firm LMC Automotive, Tesla Inc’s China car registrations have shot up by 450% in March to touch 12,709 units in March, up from 2,314 in February. This is in contrast to the overall auto sales in China which has plunged by 43.4% in March, with the coronavirus pandemic continuing…
British Members of Parliament (MPs) summoned a leading UK-based company to seek answers over security issues surrounding the activities of the company. Concerns in the UK have recently emerged over the renewed efforts by the Chinese owner of Imagination Technologies to transfer ownership of sensitive security software to companies controlled by China. According to the…
Government data published recently showed that the United States giant Apple Inc shipped about 2.5 million iPhones to China in the month of March which was a slight improvement of the sale of the company in its largest market outside of its home market after recording the worst months ever in terms of sale in…
In a proposed class action suit filed in Manhattan federal court, three customers have sued GrubHub, Postmates, DoorDash, and Uber Eats for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices; this includes the current timeframe of the coronavirus pandemic when most U.S. cities are…
A collapse in the value of its flagship tech investments will cause a huge loss to be posted by SoftBank, the Japanese investment conglomerate warned on Monday. In the fiscal year through March 31, 2020, it expected an operating loss of 1.35 trillion yen ($12.5 billion), the Japanese company said. in the previous year, the…
An executive from the largest retailer of the world – Walmart, has been roped in by the online retailer eBay for its new chief executive role. In a new release, eBay said on Monday that role of the chief executive of the company will now be executed by Jamie Iannone, who currently is in charge…
