One of the largest food delivery companies in the world would be created following the merger of Just Eat and its Dutch rival Takeaway.com. the former has agreed in principle to of the combination according to the companies. After the merger, the total value of the two companies together would be about £8.2 billion and…
Facebook Inc. will no longer allow any kind of sale and advertising of alcohol and tobacco between users on its two platforms of Facebook and Instagram. “We are updating our regulated goods policy to prohibit the sale of alcohol and tobacco products between private individuals on Facebook and Instagram. Our commerce policies already prohibit the…
The new exchange for tech stocks in China that has been recently launched is the aim for the Chinese budget smartphone maker Transsion, whose Tecno brand is a dominant force already in the African market. It has already got the preliminary permission this week for listing of its shares at the Star Market, China’s answer…
There has been a significant drop in the shares of United States electric car maker Tesla following its reporting of a second quarter loss despite touching a record number of deliveries in the period along with higher than usual levels of revenues and production. The graph for Tesla’s stock price has been like a roller…
First half profit at the French auto maker Renault saw a drop because of subdued demand for cars globally and a 95 per cent drop in the profits of its alliance partner Nissan following the Carlos Ghosn episode. That prompted Renault to issue a warning of a drop in revenue for the complete year. In…
Apple bought a majority stake in the modem business of United States based chip maker Intel, the two companies announced on Thursday. Analysts see this as a major step by Apple and gaining independence in supply of chips for its smartphones. The deal was worth $1 billion. Apple will take over Intel’s intellectual property, equipment…
Revenue for Nokia is increasing because of increasing demand for construction of 5G networks. And the sanctions against the market leader and Chinese tech giant Huawei is also reportedly benefitting Nokia In the second quarter, there was a 7 per cent increase in the sale revenue of Nokia at €5.7 billion euros or $6.3 billion,…
Following an investigation the Cambridge Analytica data breach related to Facebook which lasted for a year, concluded that the social media company had ‘deceived’ its users about their ability to keep personal information private and hence imposed a penalty of $5bn on Facebook. A lawsuit against Cambridge Analytica was also announced by the United States…
The largest sportswear making company Nike Inc is reportedly looking at options for its surfwear brand Hurley International which also includes a possible sale of the business unit, claimed a report published by Reuters news agency quoting sources with knowledge of the issue. The possible exit of Nike from the global surfwear market is reflective…
There has been growing criticism of the increasing reach and power of major tech companies in the United States and elsewhere which has prompted the US justice department to initiate a broad antitrust review of such firms. The major focus of the antitrust probe would be based on increasing complaints that competition is being illegally…
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