According to sources familiar with the matter at hand, TikTok’s owner, ByteDance has abandoned the sale of TikTok in the U.S. and is instead pursuing a partnership with Oracle Corp in the hope of avoiding a ban and at the same time appease the Chinese government. The development comes in the wake of U.S. officials…
France has accused the United States of trying to undermine international negotiations on updating the cross-border taxation regime; Paris has urged the EU to prepare for an EU tax as a fallback option if negotiations fails. Nearly 140 countries are negotiating the first major rewrite of the international tax framework to account for the rise…
Portland has voted for the first ever ban on facial recognition in the United States in private entities, including restaurants and retail stores, as well as in public places in the city. Portland’s city council voted to ban local government bureaus from acquiring or using facial recognition surveillance technology. Other U.S. cities which have previously…
In a significant development, Samsung Electronics has won a $6.64 billion order to provide wireless communication solutions to Verizon in the United States. The development marks the bagging of a major order by the South Korean company in the burgeoning 5G telecommunications market. The company’s global prospects have risen significantly following U.S. sanctions on Huawei,…
According to sources familiar with the matter at hand, KKR-backed cybersecurity startup KnowBe4 Inc, is preparing for its U.S. initial public offering (IPO). The startup helps train employees to detect phishing emails. In 2019, KnowBe4 had raised $300 million in a private fundraising round led by buyout firm KKR & Co. It has now engaged…
On Thursday, in a report, India’s Mint newspaper stated, the world’s biggest e-commerce retailer Amazon.com Inc and U.S. wireless carrier Verizon Communications Inc are likely to invest more than $4 billion to buy a stake in Indian telecom firm Vodafone Idea Ltd, citing two sources aware of the negotiations.
According to sources familiar with the matter at hand, Bumble, a dating app, is preparing for an initial public offering (IPO), which could see the company being valued between $6 billion to $8 billion. Bumble’s IPO could come early next year, said a report from Bloomberg citing sources. Sources cautioned that Bumble’s IPO plans have…
In a significant development, Amazon.com Inc, the world’s biggest e-commerce retailer, has received federal approval for testing commercial deliveries through its fleet of drones. The U.S. Federal Aviation Administration (FAA) has approved Amazon Prime Air, Amazon.com Inc’s special service delivering packages in 30 minutes or less, to test delivering orders using autonomous drones. With this…
On Monday, in a historic development, Israel’s El Al Airlines will fly its first flight to the United Arab Emirates by a commercial carrier, said a spokesman for the airline. Ties between both countries have forged ahead as they surge ahead to normalize ties. The direct flight between Israel’s Ben Gurion Airport and the UAE’s…
In a significant development, the U.S. government has issued a warning saying, North Korean hackers are increasingly targeting banks around the globe for fraudulent money transfers; they are also targeting ATMs to illegally withdraw cash. The technical cyber security alert was jointly given by four different federal agencies, including the Treasury Department and FBI. They…
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