On Friday, Dutch banking giant ING stated, it will close 25% of its brick-and-mortar bank branches in the Netherlands since the COVID-19 pandemic has accelerated the trend of digital banking. ING, the Netherlands’ biggest bank, said it would shut 42 of its 170 branches in its home market with all of the affected 150 employees…
On Friday, Japanese automaker Honda stated, it has decided to purchase a 1% stake in China’s electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) for an undisclosed amount. Both companies will jointly develop EV batteries. The development comes as EV battery makers and automakers pursue an electric vehicle future. In 2019, CATL had said…
On Thursday, Samsung’s vice president Woojune Kim stated, the South Korean giant was in active commercial discussions with European operators to supply network equipment. The company is investing its resources in 4G, 5G and 6G technologies rather than legacy ones. “The one thing that is a challenge for Samsung entering the UK or European market…
On Thursday, in a significant development, Elon Musk, the CEO of U.S. electric vehicle maker Tesla Inc said, Tesla is “very close” to Level-5 autonomous driving technology. Musk went on to add, he was confident Tesla would attain basic functionality of the technology in 2020. Musk made these remarks via a video message at the…
In a statement SAP said, its business activity gradually improved during the second quarter despite the impact of the coronavirus-induced global lockdown; it saw its revenues and operating profit edge up during the quarter. The German software maker has confirmed its full-year profit outlook. During the second quarter, SAP’s total revenues increased by 2% to…
With China imposing its draconian security law and effectively annexing Hong Kong, U.S. technology companies which have a presence in the erstwhile semi-autonomous Chinese territory, are being forced for rethink and reshape their businesses following their suspension of processing government requests for user data, which is at best a stop-gap measure, as they weigh their…
In a statement Alphabet Inc’s Google said, it has closed down its “Isolated Region” cloud platform project and does not plan on offering its cloud platform services in that country. On Wednesday, Bloomberg News had reported citing two employees, that Google had shelved the project in China as well as in other politically sensitive countries…
Facebook was unable to commit to any concrete solutions for addressing hate speech and misinformation on its social media platform, said the organizers behind a major advertiser boycott of Facebook after a meeting with the CEO of the company Mark Zuckerberg and other executives. The organizers called the meeting “disappointing”. Members of the coalition of…
A government support package of $1.6 billion has been granted to Novavax Inc by the US government to allow the drug maker the finances needed for testing, commercialization and manufacturing of a potential coronavirus vaccine in the United States. The government aims that the drug maker will be able to deliver 100 million doses by…
With regard to a movement that is protesting the deployment of 5G mobile technology in France, French tycoon Xavier Niel said, by not deploying the next generation mobile technology in the country, France risks dampening its attractiveness to investors. “5G is an element of attractiveness for our country,” said Niel, founder of French broadband internet…
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