If the turnaround plan does not manage to turn its fortune, it runs of risk of a collapse, fears the company that prints the UK’s banknotes – De La Rue. This announcement was made by the company while also announcing suspension of its dividends and reporting a loss in the first half of its financial…
Uber has decided to appeal Monday’s decision by London’s transport regulator to strip its license in the city, saying it has taken steps to change its business model and sets the standard on safety. “Over the last two months we have audited every driver in London,” said Jamie Heywood, Uber’s boss in Northern and Eastern…
On Monday, Paytm, an Indian digital payments company stated it has raised fresh funds totaling to $1 billion from a group of investors which includes existing backers such as SoftBank’s Vision Fund and China’s Ant Financial Services. The funding round saw Paytm being valued at $16 billion. A fresh investment in Paytm by Japan’s SoftBank’s…
Frances’s 5G spectrum is slated to be sold with a base price of $2.4 billion (2.17 billion euros) – an amount that is significantly more than the figure that was previously recommended by the country’s telecoms regulator Arcep. Earlier last week, wary of heavy investments that will be required for deploying 5G technology, Arcep’s president…
The debacle at the launching of Tesla’s latest electric vehicle has not only hit the company’s prospects at the share market but has also brought down the personal wealth of Tesla chief Elon Musk by millions of dollars in just a single day. The incident where in the so called unbreakable window glass of the…
In a statement, Tesla Inc’s Chief Executive Elon Musk said the carmaker has so far received around 150,000 orders for its Cybertruck. “146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor”, said Musk in a tweet. He went on to add, these orders came through without any advertising or…
After taking control of the office space sharing firm WeWork by the Japanese investment conglomerate SoftBank, the US firm has said that about 2,400 employees of the company would be laid off globally as a part of its larger strategy of reducing costs and embarking on a path to achieve profitability after the failed IPO…
Amazon.com Inc has filed a lawsuit in the U.S. Court of Federal Claims contesting the awarding of an up to $10 billion cloud computing contract to Microsoft Corp by the Pentagon. According to a spokesman for Amazon, the company has filed a complaint and supplemental motion for discovery under seal. “The Complaint and related filings…
A group of 15 U.S. senators from both the Republican and the Democratic party have written a letter to the U.S. Commerce Department urging it to suspend issuing licenses to U.S. firms that conduct business with China’s Huawei Technologies Co, citing threats to U.S. national security. The letter also urges the Trump, administration to halt…
The long awaited electric pickup truck from electric car maker Tesla is set to finally emerge. The idea of coming out with this vehicles has been touted by Tesla CEO Elon Musk for years and now it is set to challenge the markets of pickup trucks – especially in the US, made by the Detroit…
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