According to media reports, Alibaba Group Holding Ltd has been put in a ‘down round’ investment by China’s Babytree Group, which is a parenting website operator, because of the later’s decision to price its Hong Kong IPO at the bottom of a marketing range which has reduced its valuation. Alibaba is an investor in the…
With the aim of taping into the vast potential of the smaller cities and rural market of India, Chinese smartphone maker Xaomi will set up a chain of physical stores throughout the Indian market. The company announced that by the end of next year, the number of stores would be increase by tenfold. At present,…
Since it believes that the Israeli settlements in the occupied West Bank were at the “core of the dispute between Israelis and Palestinians”, therefore the US based online home and hotel rental firm Airbnb said it would remove from the region from its listings. While the decision and the announcement has been welcomed by Palestinians,…
A new report published in the New York Times has put Facebook in a new controversy allegedly over its usage of tactics for discrediting its critics, embarrassing rival companies and to soften issues at the firm. The methods that are used by the largest social media platform and a public relations company for denying and…
An ambitious expansion plan worth multi-billion euros would form the basis of German car maker Volkswagen to transform itself into the most profitable electric car manufacturer of the world, said Chief Executive of the car maker Herbert Diess. According to the executive, VW will explore possible areas of cooperation with US car maker Ford apart…
In a strategy that is becoming more obvious, Viacom apparently is not targeting to complete with its tech rivals engaged in streaming videos and other content to consumers, but instead develop and provide content software for them. This became evident after Viacom announced that it has entered into a multi-picture deal with Netflix and pledged…
A fine of £13m has been imposed by Ofcom on two UK companies Virgin Media and EE for allegedly charging more than required from those customers who made early cancellations of their phone and broadband contracts. Soon after the announcement of the fine by the telecom regulator, Virgin Media called the fine to be “unreasonable,…
“Mission: Impossible – Fallout” has propelled Viacom Inc, the owner and operator of channels like MTV, Comedy Central and Nickelodeon, to profits that beat the market estimates and e3xpectations of eh Wall Street in terms of its profit and revenue, announced the company on Friday. There was an uptick of 4 per cent in the…
It is necessar4y for the US Congress to take action against Facebook Inc. and regulate the social media platform because the company cannot be trusted with self regulation, said Democratic U.S. Representative David Cicilline who is widely anticipated to adorn the post of the next chairman of House Judiciary Committee’s antitrust panel. Putting up a…
Multiple reports that the United States administration is considering a ban on methanol cigarettes caused a hit to the shares in two tobacco giants. There was a drop of 10.6 per cent in the shares of the British American Tobacco which was its lowest in almost five years, while there was a 2.2 per cent…
