At the time the board of Virgin Australia decided to appoint administrators last Monday, the airline owed more than $6.8bn to more than 12,000 creditors which included its employees, banks, aircraft financiers and landlords, according to a report published by The Guardian. The company is also unsure about whether to continue leasing some of the…
The largest online retailer of the world Amazon has delivered another shocker to the world. the company that has been long accused of killing off bricks-and-mortar book sales has donated £250,000 to a fund that is aimed at helping out book stores that have been hit by the coronavirus pandemic. According to the Book Trade…
A Google blog post on Thursday announced that starting soon, the company will make it mandatory for all advertisers to verify their identity. This measure is being taken by the tech giant to prevent advertisers from misrepresenting themselves. The company said that this measure will allow users and consumers to see who is running ads…
A new report by a wildlife campaign group has found that there are double the number of tigers that are currently in captivity than those that are left in the wild. There are an estimated 7,000 captive tigers in the United States and about 1,600 more in Europe while there are just 3,900 tigers left…
Facebook has its eyes on the internet boom in the Indian market and is set to take up a stake in India’s largest mobile operator with an investment of billions of dollars. It is also partnering with the Indian telecom company to take advantage of the boom. The largest social media company is set to…
With people locked up in their homes as a consequence of the lockdown measures implemented by governments globally to prevent the spread of the novel coronavirus pandemic, the number of new subscribers of Netflix has more than doubled compared to what the company had expected in just the last three months. About 15.77 million new…
A drastic drop in global demand for oil and growing shortage of storage facilities has pushed the price of US to a level not seen since 1999. As on Monday, there was a 19.3 per cent drop in the price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, to touch…
The coronavirus outbreak has caused a plunge in vehicle sales and production, which, according to the estimates by Ford Motor Co, will result in a loss of about $2 billion for the first quarter. This has strained the cash reserves of the company prompting it to raise $8 billion from corporate debt investors to augment…
So far no evidence has been found that can confirm that serological tests can objectively indicate that an individual has acquired immunity from the novel coronavirus or can no longer be at risk of being reinfected with the virus, warned the World Health Organization on Friday. “These antibody tests will be able to measure that…
Following California’s Public Utilities Commission (CPUC) vote on Thursday, the $23 billion merger of U.S. wireless carriers T-Mobile US Inc with that of Sprint Corp saw the final approval of the deal which closed on April 1. The deal had closed without a final decision from the CPUC, which came through with an unanimous vote.…
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