Microsoft To Shut Down Its Career-Networking Site LinkedIn In China

Claiming that complying with the Chinese government has become increasingly difficult, Microsoft has decided to shut down its LinkedIn social network services in China. This decision was taken after some journalists’ profiles were blocked from the career-networking site which was severely criticised InJobs, a jobs-only version of the site, bill ne launched by Linked later…

UBS Slapped Fine Of $500,000 By US CFTC For Not Retaining Audio Recordings

The banking group UBS AG was sanctioned this week by the United States Commodity Futures Trading Commission (CGTC) a fine of $500,000 over charges that the bank had not been able to keep in its custody some specific audio recordings till such time that it was required to according to regulations, the agency said. “The…

Trials Of Generic Pill Of Merck For Moderate Covid-19 Ended By Two Indian Drugmakers

Permission to end late-stage trials of their generic versions of Merck & Co’s promising experimental oral antiviral drug molnupiravir to treat moderate Covid-19 has been sought by two Indian pharmaceutical companies. It was just a week ago that Merck had announced success of its own trial for mild-to-moderate patients being treated with the medicine. Development…

Secondary Share Sale Puts Valuation Of Elon Musk’s SpaceX At $100 billion

After a sale of shares by the current investors which was announced earlier this week, the market valuation of Elon Musk’s SpaceX crossed $100 billion, said reports quoting sources.   According to multiple people familiar with the matter, SpaceX has reached an agreement with new and existing investors to sell up to $755 million in…

China’s Evergrande Sued By Hong Kong Property Agencies To Recover Dues

The China Evergrande Group, which has recently caught the global attention because of its astronomically high debt and the concerns of its collapse having a widespread impact on the global economy, has been sued by two Hong Kong property agencies over commissions unpaid to the agencies, according to reports based on a court filing This…

Merck’s Covid-19 Medicine Viewed As ‘Huge Advance’ As It Could Half Deaths From The Disease

According to data that experts praised as a possible milestone in how the Covid-19 causing virus is handled, an experimental antiviral medicine produced by Merck & Co has shown the potential to half the risks of dying or being hospitalised for people most at risk of acquiring severe case of Covid-19. If approved, molnupiravir, which…