Twitter Inc cited issues with advertising efforts, which included product bugs and unusually low demand over the summer as the reasons for the social media company posting both revenues and profits much lower than what the market was expecting for the third quarter. The bad earnings report also resulted in a sharp drop in Twitter…
A $271 million bid for the bankrupt luxury department store Barneys New York by brand developer Authentic Brands Group has been challenged by Israeli businessman Samuel Ben-Avraham who announced that he had put in a contending offer for the company. Barneys New York had applied for bankruptcy in August and since then has been seeking…
SoftBank is seeking funds to create a second technology fund. According to two sources familiar with the matter at hand, the founder and CEO of Japan’s conglomerate SoftBank Group Corp is slated to attend an investment conference in Saudi Arabia next week. The development comes as the Japanese company is seeking to raise more funds…
Much like the issues highlighted by the United States, Czech cyber security watchdog NUKIB has also warned of potential risks of allowing Huawei to build the backbone of the country’s communication network. On Thursday, Czechoslovakia’s industry minister was quoted as saying, it will follow the approach of Germany and other neighboring countries in addressing issues…
There is reasonable confidence with Biogen CEO Michel Vounatsos about getting the approval for the drugmaker’s experimental Alzheimer’s drug from the United States Food and Drug Administration. “We worked in full transparency with the regulator,” Vounatsos said in a television interview while also emphasizing that all of the data about the drug that the company…
While the revenues for the United States based aircraft maker Boeing beat market estimates, its earnings were lower than what the market was expecting for the third quarter of the year. There was however an increase in the value of the shares of the company following positive messaging about the possibility of the return of…
Fortress’ efforts to gather patents essentially amounts to anti-competitive behavior since these acquisitions were driven by the notion that they will be cheaper than what technology companies would be willing to pay to avoid lawsuits. U.S. semiconductor giant, Intel Corp, has filed an antitrust lawsuit against Japan’s SoftBank Group Corp-owned investment company alleging that the…
Toyota aims to sell more EVs than gasoline powered vehicles by 2025. On Wednesday, the head of Toyota Motor’s Lexus brand stated, the carmaker plans on launching its first all-battery electric vehicle in 2020. The development comes midst a race among luxury car brand to bring battery-operated cars in the market as they compete to…
DoD’s funding will enable SkyWater Technology to make chips which can work in hostile conditions such as outer space. SkyWater Technology, a U.S. semiconductor maker stated, it will be receiving up to $170 million from the U.S. Department of Defense to make smaller and faster semiconductors with new materials that can work in outer space.…
A revamped version with a better price points and lower operating costs, Bombardier is aiming to gain some marketshare from Brazil’s Embraer.
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