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…
A set of new smart diapers for children that would be able to track a child’s urine as well as sleep will be made by Pampers, the company announced earlier this week. A smart diaper developed on the same principle that sends out a text alter to parent to tell them that their child has…
The uncertainty over Brexit is forcing the relocation of the European Medicines Agency from London to Amsterdam and as a part of this relocation process, a US firm is reportedly being paid a sum of €62m in “financial inducements” to help in this. According to reports based on European Union documents, the former headquarters of…
After running into a tiff with the Indian government on a second occasion within a short span of time, ByteDance, one of the largest social media companies of China and the owner of hugely popular video sharing app TikTok, is trying to scramble out a solution to protect its business in its largest market –…
