On Wednesday, following media reports of Apple shifting to OLED screens for its forthcoming 5G iPhones, shares of Apple supplier Japan Display Inc tumbled by 6%. Japan Display is Apple’s main supplier of liquid crystal display (LCD) panels for iPhones. The company generates almost 60% of its revenue from Apple Inc. According to a news…
In a significant development, GSK, the world’s largest vaccine-maker said, it has put its vaccine booster technology to work in a potential new COVID-19 shot which will be developed with a Canadian biopharmaceutical company that has the backing of Philip Morris. Rather than join the race and invest millions in developing a COVID-19 vaccine on…
On Monday, in a report The Information reported citing two sources familiar with the matter at hand, Microsoft Corp has expressed interest in buying Warner Bros’ gaming unit. Last month, CNBC had reported, Warner Bros parent AT&T Inc was negotiating a sale of its Interactive Entertainment gaming division that owns popular video game “Mortal Kombat”…
On Monday, a spokesman for TikTok stated, it will exit the Hong Kong market within days. The development comes in the wake of other technology companies including Facebook Inc suspending processing government requests for user data in the region. Owned by China-based ByteDance, TikTok has made the decision to exit the region following Beijing establishing…
Any request for user data from the Hong Kong law enforcement authorities will not be processed by Facebook and its messaging service WhatsApp while the company conducts an assessment of the controversial security law passed by the Chinese government and now implemented on the city. They would “pause” conducting any review of requests for information…
The “big four” accountancy firms of the United Kingdom has been asked by the regulator to make their auditing operations stricter so that there is improvement in oversight of corporate finances. Accounting scandals have in recent years caused collapse of large companies in the country such as the case of Carillion and BHS. KPMG, PwC,…
While the novel coronavirus pandemic related economic and business hit has impacted the global auto makers. The impact has not been as bad as the other for the United States based electric auto maker Tesla in terms of the company’s sales and production. During the latest completed quarter, the electric car making company delivered 90,650…
Facebook co-founder and CEO Mark Zuckerberg has shrugged off suggestions of threat to the company because of a boycott of the largest social media platform by major advertisers in support of the company being forced to take a stronger stand on hate speech. Zuckerberg said that the advertisers will be back “soon enough”. The current…
On Friday, India’s Reliance Industries Ltd stated, Intel Corp will be purchasing a 0.39% stake in its digital unit, Jio Platforms, for $253.55 million (18.95 billion rupees). Including this investment, Reliance Industries Jio Platforms has raised a total of 1.18 trillion rupees from investors.
Tesla has become the highest-valued automaker following a surge in the price of its shares which saw Tesla’s market capitalization overtaking that of former front runner Toyota Motors Corp. On Wednesday, Tesla’s shares touched a record of $1,133, boosting its market cap to $209.47 billion, around $6 billion more than that Toyota’s. Tesla’s market cap…
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