The worldwide restrictions on travel and businesses imposed by countries to prevent the spread of the novel coronavirus pandemic has hit the business of Uber hard, prompting the company to announce its plans for slash jobs of 3,700 full-time staff – which equates to about 14 per cent of the workforce of the company. His…
Blackstone Group Inc and CVC Capital Partners are holding independent talks with Italy’s Serie A soccer league, with both private equity firms keen to investment in the league. CVC is in talks to purchase a 20% stake for $2.17 billion (2 billion euros), which values the league at 10 billion euros, said the Financial Times…
On Wednesday, Estonia’s Bolt, a ride-sharing service provider, launched its own electric scooter model with the aim of launching the scooter service in more than 45 cities this summer. The Estonian company has grabbed business from Uber in many major African and Eastern Europe cities. Bolt has more than 30 million users in over 35…
Adam Neumann, WeWork’s co-founder has filed a lawsuit against SoftBank Group Corp and against its Vision Fund for terminating a $3 billion tender offer to the office-sharing startup’s shareholders. In October, the tender was part of a $9.6 billion financial rescue package that SoftBank had agreed to, following which WeWork gave it control of the…
A drop in sale of its products in China could not stop Apple Inc to report growth in the first three months of the year as there was a surge in demand for its streaming services as more and more people remained confined to their homes because of the coronavirus lockdowns. Sal revenues of the…
According to analysis of data from Google, a large number of people in Brazil, Japan and Singapore in April stayed home amid the rising number of cases being reported from these countries while residents in the United States and Australia violated lockdown orders and flocked to parks and jobs with the flattening of infection rates…
According to a report from the Telegraph, U.S. electric carmaker Tesla Inc has applied for a license to supply electricity in the United Kingdom. The report citing a company source states, the purpose of the license could be to introduce the company’s Autobidder platform. Tesla’s application did not shed light on why it applied for…
Indonesia’s largest e-commerce platform, Tokopedia said, it is investigating an attempted cyber attack and claims that details of millions of its users had been leaked online. “We found that there had been an attempt to steal data from Tokopedia users,” said Tokopedia’s spokesman. “However, Tokopedia ensures that crucial information such as passwords remains successfully protected…
In a statement Gilead Sciences Inc, the maker of the closely-watched experimental coronavirus drug remdesivir stated, it will continue to work with international partners to expand the production of its potential COVID-19 treatment. Gilead said, it expects to have more than one million remdesivir treatment courses manufactured by December, “with plans to be able to…
According to reports, the top football clubs of the La Liga – the top domestic football arena of Spain, will begin testing their players for Covid-19, the disease caused by the coronavirus, in what is being described as the first step towards restarting the league in the country in June, The imposition of one of…
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