Growth is being given predominance over profit by Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi just like his predecessor. But because the ride-hailing service has reached a global scale, therefore it is finding it difficult to make growth gains. A second-quarter loss of $891 million was recently reported by Uber. While the loss is…
US retailing giant Walmart reported a 40 per cent increase in its online sales in the last quarter which drove its overall revenues to $128bn for the period. There was jump of 10 per cent in share of the company at the New York stock market. “We’re leveraging stores and e-commerce to make shopping faster…
Goldman Sachs says that Intel is facing a big problem with the issues in technology for manufacturing chips. The repeated delays in graduating itself to the manufacture of next generation chip process technologies resulted in the lowering of the rating for Intel by Goldman to sell from neutral. “We see Intel’s struggles with 10nm process…
Despite incurring an impairment charge on its Reebok brand, better than expected second quarter results was reported by German sportswear company Adidas. The company said that it is confident of achieving its full year targets while reporting strong net profit on Thursday. There was a 20 per cent increase in the net profit for the…
Facebook is planning to come up with a new tool that could help tell the users the exact time that one is spending on the largest social media platform and its associated platform Instagram, even though use4rs might already have some idea of he time spent by them on these two platforms. This new tool…
Lower pricing and slack demand at the Pampers diapers and Gillette shaving products making units of Procter & Gamble Co drove its fourth quarter performance being hit amidst lower sale. The result disappointed Wal Street analysts who expected higher returns. The changing and evolving consumer habits have put large global consumer goods manufacturing companies in…
$143 billion of market value was wiped off the Chinese Internet giant Tencent after its shares plunged by 25 per cent from its January peak. That marked the largest wash away of shareholder wealth globally when measured from the date of each stock’s 52-week high. The second biggest looser with a $136 billion slump over…
Analysts at UBS said in a note Friday that if the current trade tensions between China and the United States enhances further and turns into a full-blown trade war, there can be steep drops in global stock markets which would not be desirable for investors. The Swiss bank had estimated through its calculations that profits…
There has been a sharp decline in the operating profits of the Finnish information technology company Nokia for the second quarter of the current year. This was announced by the company in its interim report filed by the company earlier this week. There was a fall of a very significant fall of 42 per cent…
Following complaints about the flooding of the domestic market with stainless steel that was damaging the local industry, an investigation into dumping allegations of the metal has bene launched in China. the estimated dumping of stainless steel through imports is worth $1.3 billion. The investigations will encompass a number of firms that include a privately…
