This is significant since GE is aiming to develop next generation thermal power technology and control systems. As per a statement from the Pentagon, General Electric Co has been awarded a defense contract worth up to $409 million. The contract is for developing next-generation thermal power plants and control systems, as part of a government…
A group of four companies that assemble the iPhone and other products on behalf of Apple Inc have filed a fresh set of antitrust allegations against the iPhone chip supplier Qualcomm Inc. Qualcomm violated two sections of the Sherman Act, a U.S. antitrust law, alleged Foxconn parent Hon Hai Precision Industry Co, Wistron Corp, Compal…
While there are some sticking points are still being hashed out, the chances of a deal between the two Indian e-commerce rivals – Flipkart and Snapdeal, have improved after the Indian e-commerce firm Flipkart’s sweetened its takeover offer of up to $950 million for Snapdeal, reported the media quoting two sources familiar with the matter.…
Britain is likely to see an increase in the number of Payment Service Providers in 2018. In a move designed to boost the growth of fintech companies, Britain’s central bank, the Bank of England has widened access to Britain’s interbank payments system to new fintech firms, an area that was previously dominated by the “Big…
The LSEG is collaborating with IBM to develop a platform based on an opensource version of bitcoin tech called Hyperledger Fabric. In a significant development for the development of bitcoin technology, the London Stock Exchange Group Plc is collaborating with IBM so as to build a blockchain-based platform for the purpose of issuing private shares…
Estonia is taking steps to fend off potential hacking attacks as cyber-security fears intensify and it is the only country in the world where voters elect their leaders through online balloting. According to Tarvi Martens, the National Electoral Committee’s head of e-voting, a software overhaul for the system, introduced in 2005, is ready for testing before local elections…
A final decision on the sale is likely to be known by the end of this week. According to sources familiar with the matter at hand, a consortium of private equity firms, including, TPG Capital Management LP, I Squared Capital Advisors LLC and MBK Partners have placed their separate bids for the fixed-line phone unit…
As per Lloyd’s of London report, a hypothetical cyberattack could cause widespread damage ranging from $4.6 billion to $53 billion, with a significant portion of it being unrecoverable due to companies being underinsured. A report filed by Lloyd’s of London states that a major global cyberattack could trigger an average economic loss of $53 billion,…
This merger assumes significance midst the growing global clamour for going cashless. In a significant development, French payments processing company Worldline has agreed to acquire Digital River World Payments (DRWP), its Swedish peer. The move marks a pickup in the merger activity in the payments sector. Although Worldline did not disclose the quantum it had…
After announcing new incentives for U.S. businesses to go cashless, Visa is hoping to extend its “war on cash” agenda to businesses in the U.K. To help them convert to a cashless payment model, a “cashless challenge” which would see 50 U.S. businesses receive $10,000 each would be launched, the payment technology company has revealed…
