Recent incidents of crash with Tesla electric cars and the departure of senior executives from the company together with the production problems has forced company CEO and founder Elon Musk to announce that the company was undergoing a “thorough reorganization” to tackle the problems. Musk reportedly told this to his employees. In an email to…
Foxconn Technology Group, a key iPhone assembler, reported less than expected January-March earnings primarily because of a small – 3%, enhancement in shipments of Apple’s smartphones in the aforesaid quarter. The Taiwanese company noted a 14.5% decrease in its net profits y-o-y at $809.8 million in the quarter. This was the lowest first quarter income…
The multibillion-dollar for the proposed takeover of Xerox by Japan’s Fujifilm is being stopped by the former, the company said. The proposed deal was bitterly opposed by activist investors Carl Icahn and Darwin Deason with whom the iconic US printer and copier company has made struck agreement, accounted the company in a statement on Sunday.…
Pakistan’s top and South Asia’s largest e-commerce platform Daraz Group has been taken over by China’s e-commerce giant Alibaba Group. The Chinese company acquired all of the share capital of the Pakistani company, said a statement from the company on Tuesday. Daraz is the owner and operator of the popular Taobao and Tmall platforms and…
The most cited source on Wikipedia is decade ago academic paper that was written by three Australians and is related to global climate zones. It has bene cited and referenced over 2.8m times. But it was not until recently that the wider impact of their paper was known at all to the three authors of…
UK’s data protection watchdog has ordered handing over of all information that Cambridge Analytica has about the US citizen David Carroll. A demand to know the information that the analytic firm has on the U.S. citizen was put forward by Prof Carroll in a legal action which is the source of the data demand. Cambridge…
Egypt has been identified as the world’s third fastest growing economy – trailing only India and Uganda, by a recent Harvard report. The annual economic growth of Egypt is expected to reach 6.63 percent by 2026 according to the Global Growth Projections report unveiled by the Center for International Development (CID) at Harvard University. Uganda…
Warnings about the “nightmare” related to the changes in the new accounting rules have been issued earlier by Warren Buffett. And now it’s beginning. In the first quarter a $1.14 billion loss at Buffett’s Berkshire Hathaway Inc. was reported by the Omaha, Nebraska-based company mainly because of the rules the mandate reporting of unrealized gains…
The owner of British Airways has been snubbed by a new upstart airline – and not once but twice. There had been two occasions that IAG, the parent company of British Airways, had presented offers to buy out the newly set up Norwegian Air Shuttle. However, it had been refused the deal on both the…
Adidas, one of the largest manufacturers of sports apparel in the world beat rivals Nike and Under Armour on their home turf in North America as the company reported another consecutive quarter of double-digit sales growth for the region. There was a 21 per cent growth in the sales of the company in the region for the first…
