Since March, a “steady recovery” has been seen by Alibaba in its business in China, said the Chinese e-commerce giant, but also warned about there are a lot of uncertainties in the path to economic recovery. In the first three months of this year, there was a 22 per cent growth in the company’s sale…
After the novel coronavirus pandemic hit the business of the United States based 102-year-old car rental firm Hertz very badly, the firm has been forced to file for bankruptcy protection in the US. It had voluntarily filed for Chapter 11 reorganisation, the company said in a US court filing on Friday. The company is also…
While wanring that it will take “several years” for the global airline industry to completely recover the damages caused by the novel coronavirus pandemic, the Derby, UK based company Rolls-Royce has announced 9,000 job cuts. This job cut, which is almost one fifth of its total workforce, will mainly impact the employees in its civil…
Social media giant Facebook is now coming up with a market place of its own. Christened as ‘Shop’, this will be a service that will allow users and businesses to display and sell products on its platforms, the company said on Tuesday. Shops is being positioned as a means to expand the markets for small…
United States based electric car maker Tesla is enhancing price for the cars that comes with the “self-driving” option throughout the world. The company said that the price will be hiked by $1,000 for a start. The price “will continue to rise” as its technology improves, tweeted the company’s founder and CEO Elon Musk. But…
Kevin Mayer, the high profile head of Disney’s streaming business, is set to join TikTok, the popular short-video app that has run into controversy in the United States because of concerns over national-security and privacy issues. Mayer will not only head the app but will also be appointed as the chief operating officer of ByteDance,…
A move to completely block the Chinese telecom company Huawei, blacklisted by the United States government, from chip supplies was initiated by the Trump administration which ignited fears of a Chinese retaliation and pulling down shares of chipmaking equipment makers of the US. The authority of the Trump administration to require licenses for sales to…
A significant drop in demand for its main client Apple and a forced closure of manufacturing at its main production unit in China because of the novel coronavirus outbreak resulted in the Taiwanese firm Foxconn reporting the lowest first quarter profit in at least two decades. In fact, its profits have all but but wiped…
Riders are now going to get a new experience of availing am Uber ride. Uver has made it mandatory from its drivers to take selfied in the app to verify they are wearing a mask or face covering, starting this Monday, before they pick up any passenger, the company has announced. Drivers will also need…
The hit from the coronavirus pandemic has put the German economy – the largest in Europe, into a technical recession. In the first quarter of 2020, there was a contraction 2.2 per cent in the German economy which was the worst since the global financial crisis of 2007-08. Experts had expected a contraction to be…
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