Lyft’s IPO, has set the stage for its much bigger rival, Uber Technologies, whose IPO is slated for launch in April 2019. In a significant development, Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup. Lyft raised more money than it had set off to since…
Monsanto has been held liable for the causing of cancer in a California man by a US federal jury which has ordered the company to cough up $80m in damages. The ruling was passed by the court on Wednesday in which the company was held responsible for development of cancer and risks of cancer development…
Sony Corp has already announced that it wants to turn its loss making mobile handset business into a profit making venture from next year. In that process and with eth aim of cutting down on costs of operations and save money, the Japanese company tech giant has decided to close down its factory in Beijing…
The development underscores a growing trend of consolidation among communications, automakers and technology companies as they grapple with the massive investment and software expertise required to develop new services for which demand has yet to be tested. On Thursday, Japan’s Honda Motor Co and truckmaker Hino Motors Ltd stated they join a joint venture of…
The report notes, “The evidence of sustained change is especially important as similar strongly worded commitments from Huawei in the past have not brought about any discernible improvements”. On Thursday, in a significant development, Britain has publicly chastised Huawei Technologies for failing to fix long-standing security flaws in its mobile network equipment and revealed new…
In a first of its kind, United States parcel delivering firm UPS has initiated the use of unmanned drones. The company said on Wednesday that it used remote controlled unmanned drones for the supply of medical samples for a North Carolina hospital system. The company said that this measure was a part of its long…
A law suit has been filed by fifty women in a San Francisco court against Salesforce and bringing in allegations that tools were sold by the company to the sex trafficking website Backpage. The women who have filed the case have chosen to remain unidentified and want to be only identified and referred to as…
CFIUS concerns stems from the fact that the Chinese dating app collects personal information including a person’s location, messages, which could include potential data of the U.S. military or intelligence personnel. According to sources familiar with the matter at hand, a U.S. government national security panel has raised concerns over the ownership of Chinese gaming…
A Manhattan court is set to decide whether Elon Musk’s tweets were in violation of his October 2018 settlement with the SEC. Lawyers from the U.S. Securities and Exchange Commission along with those representing Tesla’s CEO Elon Musk are slated to square off in a Manhattan courtroom next week over whether Musk should be held…
Expanding its foot print further in the Middle East, global ride hailing company Uber has announced that it is acquiring its Dubai-based rival Careem in a deal that would be worth about $3.1 billion. Established in 2012, Careem is operational in 15 countries across the world and is a strong force player in countries across…
