According to a report from the Wall Street Journal, Amazon.com Inc is in advanced talks to acquire self-driving startup Zoox Inc. The potential acquisition will expand Amazon’s reach in autonomous-vehicle technology. In a funding round in 2018, Zoox was valued at at less than the $3.2 billion, reported WSJ citing sources familiar with the matter…
On Tuesday, ride hailing service provider Bolt stated, it has raised $109 million (100 million euros) from London-based investment firm Naya Capital Management in a deal which values the company at 1.7 billion euros. Bolt said, it will use the funds to further increase its market share in a sector deeply affected by the coronavirus…
Since March, a “steady recovery” has been seen by Alibaba in its business in China, said the Chinese e-commerce giant, but also warned about there are a lot of uncertainties in the path to economic recovery. In the first three months of this year, there was a 22 per cent growth in the company’s sale…
After the novel coronavirus pandemic hit the business of the United States based 102-year-old car rental firm Hertz very badly, the firm has been forced to file for bankruptcy protection in the US. It had voluntarily filed for Chapter 11 reorganisation, the company said in a US court filing on Friday. The company is also…
On Friday, French Finance Minister Bruno Le Maire stated, unless Renault adapts it could disappear. The development underscores the amount of support the French automaker requires in order to cope with the fallout from the coronavirus pandemic. In an interview with Europe 1 radio, Le Maire stated, Renault’s French plant in Flins must not close…
Technology companies have begun developing their own contact tracing systems to help prevent and contain the spread of the coronavirus outbreaks in their offices. The development comes in the wake of countries begining to ease lockdown measures and return to the workplace. Juniper Networks Inc plans on equipping its nearly 10,000 employees with work identification…
In the latest U.S. move that strategically targets Huawei, the U.S. government is targeting the Chinese company’s HiSilicon chip business, which is key to Chinese ambition of dominating the semiconductor sector. With the latest U.S. strategic move, Huawei is set to lose access to chip making tools. In what could be the most damaging move…
According to two officials from the U.S. Commerce Department, U.S. regulators are open to introducing changes that will plug, as what some see, a loophole in a new rule aimed at curbing the sale of global chip supplies to blacklisted China’s telecoms equipment maker Huawei Technologies Ltd. The new rule, introduced last Friday by the…
While wanring that it will take “several years” for the global airline industry to completely recover the damages caused by the novel coronavirus pandemic, the Derby, UK based company Rolls-Royce has announced 9,000 job cuts. This job cut, which is almost one fifth of its total workforce, will mainly impact the employees in its civil…
Social media giant Facebook is now coming up with a market place of its own. Christened as ‘Shop’, this will be a service that will allow users and businesses to display and sell products on its platforms, the company said on Tuesday. Shops is being positioned as a means to expand the markets for small…
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