Two of the most important ride hailing companies of the United States – Uber and Lyft, are focusing differently for growth. While Uber continued to invest in money-losing side businesses, Lyft has completely focused on investing on its core businesses of commuting. This Thursday, Uber announced that it expected to notch up profits throughout the…
On Monday, UK’s Foreign Secretary Dominic Raab stated, Britain takes U.S. concerns on China’s telecoms equipment maker Huawei Technologies very seriously. Last month, Britain allowed Huawei a limited role in building the country’s 5G mobile network, despite U.S. concerns on Huawei. “There has been market failure in terms of high trust vendors being able to…
As per a source familiar with the matter at hand, ViacomCBS is working on a streaming service that will build on its CBS All Access platform. According to ViacomCBS executives, although a firm decision on this is yet to be taken, the company is considering a service with advertisements which will combine CBS All Access…
Twitter beat market expectations for the latest quarter revenues as the micro blogging company topped revenues over $1 billion for the first quarter in its history. The company said this was the result of the efforts of the company to make the social media platform more user friendly which has attracted more people to the…
The coronavirus outbreak in China impacted sale of Yum Brands in the country while the planned turnaround of Pizza Hut in the United States did not do well which forced Yum Brands to issue a warning that results of the company for the current year could be lower than what it had predicted for the…
On Thursday, BMW’s spokesman stated, the carmaker will ramp up its capacities for producing drivetrain components for electric cars at its key Dingolfing plant. Dingolfing is located at around 50 miles (85 kilometers) northeast of Munich and is the group’s largest vehicle production site in Europe; it produces components for most of its electric cars.…
The coronavirus outbreak in China poses a potential threat to the mobile phone industry, said Qualcomm Inc while adding that it is likely to impact its manufacturing and sales. These comments by Qualcomm, the world’s biggest supplier of “modem” chips has resulted in the tumbling of chip stocks despite signs that an industry downturn was…
According to a source with direct knowledge of the matter at hand, Taiwan’s Foxconn aims to gradually restart operations at its factories in China and could resume full production within 3 weeks. Foxconn has filed requests to reopen factories with Chinese authorities, said the source while adding that a full resumption is likely towards the…
In a statement, Governor Lael Brainard of the U.S. Federal Reserve stated, the central bank is looking at a broad range of issues surrounding digital currencies and payments, including design, policy and legal considerations around potentially issuing its own digital currency. The development underscores an openness in the possibility of the Federal Reserve issuing its…
The flagship digital industries business of Germany’s Siemens was hit by a downturn in the manufacturing sector while its power unit also suffered losses which brought down the company’s first quarter earnings and profits of the company well below the expectations of the market. There was a huge (30 per cent) dip in the industrial…
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