Despite incurring an impairment charge on its Reebok brand, better than expected second quarter results was reported by German sportswear company Adidas. The company said that it is confident of achieving its full year targets while reporting strong net profit on Thursday. There was a 20 per cent increase in the net profit for the…
There is a fierce price war going on in the United States retail market between the players. However, the German-owned discount supermarket Aldi Inc is taking on the market rivals in a significant push by the company to gain market share in the US market by roiling out dozens of new products, the company announced…
A successful $1 billion seed-funding round for NewTV was raised by its holding company WndrCo, the company announced recently. The company is owned by Jeffrey Katzenberg and Meg Whitman who have been able to convince investors about their ambitions to develop a platform that would be the next generation of the likes of HBO or…
Consumers’ banking data is not being “actively” sought by it, says Facebook. According to a report published in the Wall Street Journal, a number of major banks have been requested by Facebook to provide data about account balances and credit card activity of consumers and Facebook users. The report stated that companies like JPMorgan Chase, Wells Fargo, Citigroup and U.S.…
With Uber Technologies facing a potential ban in Britain, Ola could gain the upper hand. On Tuesday, Ola, India’s ride-hailing firm stated it plans on expanding its area of operations to Britain this year following a launch of its services in Australia. In a statement, Ola said, it had obtained licenses to begin operations in…
The pain of the US induced trade war is being felt by a number of companies. Companies is China are the object of the greatest interest in this aspect. Late last week, China issued the threat of imposing new tariffs on 5200 US products in case the US decides to impose the 25 per cent…
According to an announcement issued by the United States Justice Department, agreement for the payment of a fine of $2.09 billion has been reached with lender Wells Fargo allegedly because the firm was aware that some of the mortgage loans that it had issued had incorrect income information. According to the US government, this very…
Facebook is planning to come up with a new tool that could help tell the users the exact time that one is spending on the largest social media platform and its associated platform Instagram, even though use4rs might already have some idea of he time spent by them on these two platforms. This new tool…
A news report initially published in the Wall Street Journal has claimed that a major portion of its digital assets is being planned to be sold by General Electric Co. as a part of its restructuring program. Citing people with knowledge of the matter, the Journal report stated that for the purpose of auctioning off…
According to media reports, talks about the construction of its first ever major European factory is being ongoing between the electric car maker Tesla and authorities in Germany and the Netherlands. A report in The Wall Street Journal claimed that Tesla is planning to set up a new Gigafactory in Europe where both cars and…
