Samsung’s de-facto chief Jay Y. Lee was sentenced to a five-year jail term by a court in South Korea on Friday. He was accused of paying bribes to gain government favors for the conglomerate In order to get support from ousted President Park Geun-hye, the court found Samsung Electronics vice chairman Lee guilty of giving bribes, local news…
The music streaming giant’s IPO is scheduled to hit the market either late this year or in early 2018. Ahead of its U.S. stock market listing, in a significant development Spotify has disclosed that it has renewed its global licensing partnership with Warner Music Inc. The development marks its last big music royalty deal ahead…
The development marks the birth of a green, cost effective long-haul trucking industry. Next month, Tesla Inc is set to unveil a big-rig electric truck which will have a mile range of 200 to 300 miles. The development is a sign that Tesla is eyeing the commercial freight market as it aggressively ramps up the…
The Brazilian government has opened up an area for mining that it had recently dismantled – an Amazonian national reserve that is seemingly bigger than the size of Norway. The National Reserve of Copper and Associates (Renca) is split between the Northern Brazilian states of Amapa and Para and a decree from President Michel Temer…
The U.S. groceries market is likely to heat up further. In what is likely to be a milestone for Amazon.com, the world’s largest online retailer has managed to get an approval from the U.S. Federal Trade Commission for its planned $13.7 billion acquisition of Whole Foods Market Inc. In its statement, the FTC said it…
While the sales of its flagship Galaxy S8 was brisks, the launch of the Note 8 comes at a time when consumers are expecting the launch of the iPhone 8, Apple’s 10th anniversary phone. Expectations are skyhigh, hope Apple doesn’t disappoint. With the world’s largest smartphone maker by market share launching its new Galaxy Note…
Other nations may be affected due to China installing more robots than any other nation. The International Federation of Robotics estimates that shipments of robots to the second largest economy in the world will nearly double to 160,000 in 2019 even as it has already jumped 27 percent to about 90,000 units last year, marking a single-country record and…
In 2018, it will capitalize on this further by enabling voice Google powered shopping across its 4,700 brick and mortar stores. In a development that marks the opening of a second front on Wal-Mart Stores assault on Amazon.com Inc, the company is teaming up with Google to enter the nascent voice-shopping market that is at…
In an effort to reduce food contamination by using blockchain, IBM has been joined by a group of global food giants including the likes of Nestle, Unilever and Walmart. In order to trace the source of contaminated produce IBM would enable global food businesses to use its blockchain network, the corporation announced on Tuesday. According to…
The bidding for the sale is set to begin from September with expected proceeds in the range of hundreds of millions. A Japanese business daily has reported, Fujitsu Ltd is looking at options to divest its mobile operations in the face of fierce competition from bigger rivals. Last February, Fujitsu spun off its mobile phone…
