A manager of the Chinese technology giant Alibaba is set to be sacked by the company over allegations of rape, claimed multiple reports quoting information from a company memo. Two other bosses who failed to act on the allegation have resigned, according to a letter from the chief executive of the company Daniel Zhang to…
PepsiCo Inc signaled its intentions to further simplify its product range and shift away from high-sugar drinks through the selling of its Tropicana and other juice brands in North America in a deal worth $3.3 billion to the French private equity firm PAI Partners, the beverage giant said on Tuesday. The orange juice maker had…
In a statement Veoneer Inc said, it would start acquisitions negotiations with chipmaker Qualcomm Inc after its offer for the Swedish auto parts maker topped a rival bid by Magna International Inc. Qualcomm’s offer could “reasonably be expected to result in a ‘Superior Proposal’, as defined under the terms of Veoneer’s merger agreement with Magna,”…
Amazon.com Inc got a major victory in India’s top court in relation to a dispute wherein the e-commerce giant sought to prevent its partner Future Group from selling $3.4 billion in assets to Amazon’s rival Reliance Industries. According to analysts, this latest tussle that also involves two of the richest individuals of the world –…
On Friday, in a statement South Korea’s SK Group said, it will invest up to $100 million in the fintech unit of AirAsia Group Bhd. BigPay, a unit of AirAsia’s digital arm, offers a prepaid debit card, local and international money transfers, micro-insurance, bill payments and a budgeting tool. “Our ambition has always been to establish…
In a statement the U.S. Federal Trade Commission said, Facebook Inc made “misleading claims” to explain why it had disabled the accounts of researchers studying political ads on its social media platform. Earlier this week on Tuesday, Facebook cut off the personal accounts and access of the New York University researchers citing users’ privacy concerns.…
According to sources familiar with the matter at hand, Ericsson has won a 3% share in a joint 5G radio contract from China Telecom and China Unicom. Tender documents published by these Chine companies show, Nokia, which was expected to grab Ericsson’s market share in China, did not receive any share. The tender document doesn’t disclose percentage wins,…
The United States based plane maker Boeing could have a chance to regain lost ground in the Indian aviation market because of the plans of Indian billionaire Rakesh Jhunjhunwala to launch an ultra-low-cost airline in the country. Boeing got a rude shock for its business in India two years ago with the failure of the…
A record fine of €746 million ($887 million) GDPR fine was slapped on Amazon by Luxembourg’s National Commission for Data Protection (CNPD) over the manner in which the e-retailer collects and uses user data for conducting targeted advertising. This disclosure was made by Amazon in an SEC filing on Friday. In the filing the largest…
The new trucks division that Daimler wants to spin off later this year will have a 35 per cent belonging to the parent company, said the luxury carmaker said on Friday. This information was shared by the company on a landmark corporate split that Daimler hopes will cause a surge in its share values. The…
