First half profit at the French auto maker Renault saw a drop because of subdued demand for cars globally and a 95 per cent drop in the profits of its alliance partner Nissan following the Carlos Ghosn episode. That prompted Renault to issue a warning of a drop in revenue for the complete year. In…
Apple bought a majority stake in the modem business of United States based chip maker Intel, the two companies announced on Thursday. Analysts see this as a major step by Apple and gaining independence in supply of chips for its smartphones. The deal was worth $1 billion. Apple will take over Intel’s intellectual property, equipment…
Revenue for Nokia is increasing because of increasing demand for construction of 5G networks. And the sanctions against the market leader and Chinese tech giant Huawei is also reportedly benefitting Nokia In the second quarter, there was a 7 per cent increase in the sale revenue of Nokia at €5.7 billion euros or $6.3 billion,…
Following an investigation the Cambridge Analytica data breach related to Facebook which lasted for a year, concluded that the social media company had ‘deceived’ its users about their ability to keep personal information private and hence imposed a penalty of $5bn on Facebook. A lawsuit against Cambridge Analytica was also announced by the United States…
SoftBank’s second fund has already secured funding from Standard Chartered Plc and Goldman Sachs Group Inc. According to a report from the Wall Street Journal, Japan’s SoftBank Group Corp will invest $40 billion in its second Vision Fund. SoftBank’s board will meet on Thursday to approve the commitment. SoftBank’s first, $100 billion Vision Fund was…
There has been growing criticism of the increasing reach and power of major tech companies in the United States and elsewhere which has prompted the US justice department to initiate a broad antitrust review of such firms. The major focus of the antitrust probe would be based on increasing complaints that competition is being illegally…
While the settlement resolves a major regulatory overhead for Facebook, the embattled social media giant still faces potential antitrust probes from the FTC and Justice Department. On Wednesday, in a significant development, the Federal Trade Commission stated, Facebook Inc has agreed to pay $5 billion as part of a sweeping settlement to create a board…
Given bi-partisan concerns over the market power of these major digital technology companies, which include Google, Amazon, Facebook and Apple, their potential downsizing is very much a possibility. In a significant development that marks the latest sign of the Trump government stepping up is scrutiny over big tech firms, the U.S. Justice Department disclosed that…
A set of new smart diapers for children that would be able to track a child’s urine as well as sleep will be made by Pampers, the company announced earlier this week. A smart diaper developed on the same principle that sends out a text alter to parent to tell them that their child has…
The uncertainty over Brexit is forcing the relocation of the European Medicines Agency from London to Amsterdam and as a part of this relocation process, a US firm is reportedly being paid a sum of €62m in “financial inducements” to help in this. According to reports based on European Union documents, the former headquarters of…
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