American lender Goldman Sachs will be paying out almost $3bn to close a probe over its role in the 1MDB corruption scandal of Malaysia. According to the an admission in the US court by the bank’s Malaysian subsidiary, it had paid bribes worth more than $1bn to win the contract to raise money for the…
It was just six months ago that streaming service Quibi had launched as a company in the United States but earlier this week the company said that it was winding down its business and operations and was soon to initiate a process for selling off its assets. According to analysts, this sudden announcement by the…
Chinese telecom and smartphone maker Huawei reported a drop in its sales growth following the tightening of restrictions against the Chinese tech company by the United States which has cut off the company’s access from the key technologies to a much greater extent. In the first nine months of 2020 it generated 671.3 billion yuan…
A part of its memory chip business will be sold by the United States chipmaker Intel to the South Korean tech company SK Hynix in a deal worth $9 billion. Following the completion of the deal, SK Hynix’s manufacturing capacity is slated to increase and make it the second biggest flash memory chipmaker of the…
There has been a spurt in sale of condoms for the market leader Durex after the lifting of the national lockdown indicating a spur in a summer of love. Over the summer months, when lifting of lockdown and other restrictions imposed because of the novel coronavirus pandemic enabled people to rekindle their sex lives, there…
Concession in its $2.1 billion acquisition of Fitbit will be given by Alphabet’s Google with the aim of appeasing the antitrust regulators of the European Union and ally its concerns, claimed a report published by Reuters citing information from sources familiar with the . According to sources, with these concessions, the deal is well set…
An investment of more than $150 million will be made by United States based Uber Technologies in a joint venture and partnership with the South Korean firm SK Telecom Co Ltd. This move is viewed by analysts as a part of the US firm’s strategy of expanding into the South Korean market where its growth…
The total hit to Hyundai Motor and affiliate Kia Motors because of the quality issue that has been going on for years now, which has also tarnished its image and credibility, has now touched almost $5 billion as the copany now has issued a warning of another $2.9 billion of provisions related to engine issues.…
NASA has said that it would be putting up a 4G network on the moon. Contracts for building the network worth $370 million have been handed over by NASA to more than a dozen companies who are tasked with deploying the 4G technology on the lunar surface as the United States space agency steps up…
Ireland’s Data Protection Commissioner (DPC) is currently investigating Instagram over charges of mishandling of personal data of children on its platform. If Instagram is found to have broken privacy laws a large fine could be imposed on the social media app’s owner Facebook. This announcement of the investigation comes after reports were published about Instagram…
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