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.…
There has been a surge in the personal wealth of Amazon CEO and entrepreneur, Jeff Bezos, by about $24 billion so far during the coronavirus pandemic which was about a 20 per cent growth in his fortunes over the last four months. His personal wealth is now believed to be about $138 billion. With an…
A 32 per cent drop in first quarter profits was reported by the lender Morgan Stanley amid the coronavirus pandemic months which caused a complete stalling in deal making. The bank also warned of further hit to its operations and consequently profits because of the pandemic in the next few months too. The results of…
British Members of Parliament (MPs) summoned a leading UK-based company to seek answers over security issues surrounding the activities of the company. Concerns in the UK have recently emerged over the renewed efforts by the Chinese owner of Imagination Technologies to transfer ownership of sensitive security software to companies controlled by China. According to the…
Government data published recently showed that the United States giant Apple Inc shipped about 2.5 million iPhones to China in the month of March which was a slight improvement of the sale of the company in its largest market outside of its home market after recording the worst months ever in terms of sale in…
