Disposing off unsold products by burning them down is a practice in the luxury companies that is practiced widely but rarely discussed. The aim of such a drastic tactic is to uphold the scarcity of their goods and increase the brand exclusivity. Luxury companies also claim tax credits for burning off their inventory in countrie3s…
The increase in the number of ultra-rich people in Asia has forced New York from its leading position as the city that has the largest number of ultra-rich people. A new report states that New York was over taken by Hong Kong to become the city that is home to highest number of people who…
An Israeli company has announced that it has been able to develop a chip technology that can serve as a universal solution to the self driving car industry. The company called Autotalks based in Kfar Netter in Israel, is a firm that is engage din the development of technologies that aid in automatic communication between…
Addiction to online gaming has become an addiction in China – the world’s biggest gaming market. Chinese authorities have begun cracking down on this addiction by limiting gaming hours to under-aged played. With the Chinese government focusing on ways to tackle gaming addiction, Tencent Holdings, China’s biggest gaming and social media company, stated it will…
The development underscores Uber CEO Dara Khosrowshahi’s strategy of strengthening and expanding Uber’s footprint through partnerships. On Thursday, Uber Technologies announced, it would be launching an app for taxis operating in Nagoya, Japan. The development comes in the wake of the U.S. firm trying to expand and strengthen its foothold in the country. Incidentally, Japan…
The expansion comes midst increased demand for cloud and mobile computing and e-commerce from countries across Asia. On Thursday, Facebook disclosed it would sink in more than $1 billion in its first data center in Asia which will be located in Singapore. It is slated to open in 2022. Facebook’s data center will be located…
A new form of artificial Intelligence (AI) technology is going to be used by the U.S. tech giant Google so that it is able to adequately to reduce and control the spreading of spurious contents that deal with child sexual abuse online. This announcement was made by the company early this week. The technology that…
Despite its vociferous campaigning last year for levying a 3% tax on the digital earnings of global tech firms, the SPD backed down after concluding that such a move would not be productive. On Wednesday, Germany’s Bild newspaper stated, the country’s finance ministry has, given up its plan of levying more taxes on internet giants,…
Through this app, users can browse through products and buy them directly. The Verge has reported citing two sources familiar with the matter at hand as saying, Facebook Inc-owned Instagram is working to create a new standalone shopping app through which users can browse through goods and buy them directly. It is not clear when…
The wiring issue had led to a short circuit incident in Japan which produced smoke from the vehicle. On Wednesday, Toyota Motor Corp stated, it plans on recalling nearly 1.03 million vehicles from various markets including North America, Europe and Japan due to an issue with the engine wire harness which can pose a fire…
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