Xiaomi Corp has filed a complaint in a district court in Washington against the U.S. Treasury and Defense Departments, in an attempt to wiggle out of the U.S. Entity list. The Trump Administration has added select Chinese companies to a trade black list after its assessment that they are either owned or controlled or have…
Millions of users of the messaging service WhatsApp have adopted alternative services such as Signal and Telegram because of a update to the app’s terms of service that was arguably poorly explained by the company. The magnitude of exodus of users has forced the Facebook owned company to postpone the implementation of the new…
An apparent fight between private and professional investors resulted in the shares of an almost failed company, the United States based games company Gamestop, rising by as much as 300 per cent within week last week. In a world that is moving online, the video games bricks and mortar retailer Gamestop is arguably something of…
The United States based office sharing firm WeWork is currently working to get listed and is talking to do that through a merger with a special purpose acquisition company (SPAC)m said reports quoting sources. The company currently owned by the Japanese conglomerate SoftBank is also reported to be exploring avenues to raise funds from private…
Polarisation and misinformation on social media was severely criticised by the Chief Executive Officer of Apple Inc, Tim Cook this week. According to analysts, his comments added fuel to an already intense confrontation between the iPhone maker and the largest social media platform of the world Facebook. According to Cook, several apps were liable to…
According to three sources familiar with the matter at hand, SpaceX’s valuation could be a minimum of $60 billion as it finalizes a funding round which could close in February. SpaceX’s latest funding round is expected to price each share between $325 and $350. Details of the deal are still being ironed out, said sources…
U.S. sanctions against China’s Huawei have hit their marks: its smartphone shipments have fallen by 4% during the December quarter, according to shipment data. According to data from research firm Canalys, Huawei’s market share in China slumped to 22% from 38% in the year-ago quarter. However, it continues to remain the market leader with a…
In a significant development, General Motors Co said, all of its new cars, including light pickup trucks, and SUVs will have zero tailpipe emissions by 2035. The development marks a significant shift away from diesel and gasoline powered engines by the biggest U.S. automaker. GM has also said, it plans on becoming carbon neutral by…
In a statement electric-vehicle maker Faraday Future stated, it will go public through a merger with blank-check firm Property Solutions Acquisition Corp in a deal that values the combined company at $3.4 billion. The deal marks the latest firm to take the SPAC route to enter the public market. Los-Angeles-based Faraday joins a growing list…
For the first time in the last 37 years, the international beer company Budweiser will not be sponsoring the Super Bowl and the company’s Clydesdale horses, which have become synonymous with the super event, will not be seen this year. The company said on Monday that the money that it would have otherwise been spent…
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