The global shortage of auto chips prevented Sweden’s truck maker AB Volvo from fully capitalising by producing more truck to cater to the strong demand for its vehicles during the second quarter and consequently the truck maker warned of further production disruptions and stoppages for the rest of this year because of the chip shortage.…
Walmart’s Flipkart has recently argued with Indian anti-trust regulators that its case should not be treated as the same as its rival Amazon since the evidence against the two companies are “qualitatively different,” according to reports based on Flipkart argument in a court filing. The Competition Commission of India (CCI) has been challenged by both…
With competition increasing in the videoconferencing sector Zoom Video Communications Inc announced a $14.7 billion all-stock deal to acquire Five9 Inc, a cloud-based call center operator, its largest-ever acquisition. With the Coronavirus-induced COVID-19 pandemic resulting in the closures of schools and businesses, Zoom has become a household name and an investor favorite this year with…
The United Kingdom based digital banking app Revolut was valued at around $33 billion during a new funding round led by Softbank’s Vision Fund and Tiger Global Management in which the company managed to raise about $800 million. The result of the increased valuation form the fundraising is that Revolut is now the most valuable…
Fakespot, a well-known app that is used for detecting fake product reviews, has been removed from its App Store by Apple following complaints from Amazon about the app providing misleading information to users while also presenting potential security risks. The credibility of an Amazon listing’s reviews is analysed by Fakespot’s app after which the app…
A draft prospectus filed by the Indian digital payments firm Paytm shows that the company plans to raise as much as 166 billion rupees ($2.2 billion) through an initial public offering in Mumbai. It was just two days ago that the online food delivery giant Zomato began raising a targeted $1.3 billion through a share…
In a statement UK-based cybersecurity firm Avast Plc said, it was in advanced talks over a potential merger with NortonLifeLock Inc. If the negotiations are a success, it will result in a cash-and-share deal, said Avast. The company however cautioned thar there is no certainty that a deal will be agreed. Late on Wednesday, NortonLifeLock…
On Thursday Toyota Motor Corp’s research arm said, it had acquired US based map and driverless vehicles data provider Carmera. The acquisition underscores Toyota’s push to bulk up its self-driving arsenal as traditional automakers compete with tech giants in the emerging autonomous vehicles sector. The acquisition will provide Toyota access to real-time, high-definition maps and crowdsourced…
Coke is set to change the recipe for its Coca Cola Zero Sugar drink. The company will be making a change in the recipe of the drink as the company tries to make the drink taste more like the regular Coke, Coca Cola said Tuesday. The company will also change the look of the can…
Israel has struck a partnership with the United States based pharma company NRx Pharmaceuticals for completion of trials and commercialization of the Covid-19 vaccine that has been developed in Israel called BriLife. A memorandum of understanding was signed between NRx and the Israel Institute for Biological Research on Monday, and the two parties said that…
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