On Monday, Alibaba Group Holding Inc stated, sales from its annual Singles’ Day shopping event touched $22.63 billion (158.31 billion yuan ) in the first nine hours, up by 25% from 126.72 billion yuan a year earlier. China celebrates Singles’ Day as a shopping festival much like Black Friday or Cyber Monday. It has grown…
Following a tweet from David Heinemeier Hansson, a tech entrepreneur, which alleged a discrimination in Apple Inc’s new credit card algorithms that are used to determine credit limits, a probe has been initiated into Goldman Sachs Group Inc’s credit card practices. According to Hansson’s tweet, Apple Card has given him a credit limit that is…
The world famous Disneyland in Hong Kong is being hit hard because of the political unrest and sometimes violent protests ongoing for almost five months now demanding more democratic rights from China. Despite reporting strong earnings for the latest quarter, Disney also pointed out to the increasing losses that the company is making for its…
Rings and shrink wrap used in its millions of multipack cans that are primarily made up of single use plastic will be replaced by Heineken with alternative cardboard materials that are much more eco-friendly in nature. This change will be implemented by the Dutch company starting April of 2020 in a phased manner across its…
In February 2019, Trump had urged U.S. companies to increase their research spending on 6G or be left behind. In a news bulletin that was published by China’s Ministry of Science and Technology, China officially announced that it has started researching sixth-generation telecoms technology. Officials from government ministries and research institutes met this week to…
This is not the first time that activist investor Carl Icahn has tried to orchestrate a deal by having a relatively smaller company buy a bigger one. According to three sources familiar with the matter at hand, U.S. printer maker Xerox Holdings Corp has made a $33 billion cash-and-stock offer to acquire personal computer maker…
Qualcomm’s chips will be required to fully utilize the increase in speed promised by 5G networks. In a development that potentially hints at Apple Inc’s impending launch of 5G models in 2020, Qualcomm Inc disclosed, it expects 200 million 5G smartphones to be sold in 2020. Next-generation 5G smartphones, set to debut next year in…
China is increadingly positioning blockchain technology as a foundational fintech platform. On Thursday, in a statement, the Shanghai headquarters of the People’s Bank of China (PBOC) stated the usage of blockchain technology solves many of the issue revolving around information asymmetry in trade finance and the core problem of providing proof of trade authenticity. Its…
Boeing still has to cross a couple of hurdles before it can resume flight services for the 737 MAX. In a statement, Patrick Ky, the executive director of the European Union Aviation Safety Agency (EASA) stated Boeing’s 737 MAX airliner, which is currently grounded, is likely to return to service in Europe during the first…
Gojek’s proof-of-concept service will be used to measure the demand for ride-hailing sector in Malaysia for a period of 6 months. On Tuesday, in a statement, Anthony Loke Siew Fook Malaysia’s minister of Transportation stated, Kuala Lumpur will allow ride-hailing firms such as Indonesia’s Gojek to start operations in the country from January 2020. Gojek’s…
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