Business & Finance
Volkswagen Begins Trial EV Production In Shanghai
The auto industry is taking the race to reach first the Chinese market with their respective EV products very seriously. Here is another development in the competition to release electric vehicles in China, as Volkswagen AG and SAIC Motor Corp Ltd have begun their “$2.5 billion electric vehicle”...
WhatsApp Gets New Shopping Feature
Facebook adds Whatsapp in its e-commerce run as it seeks to monetize its “high-growth” services for revenue boost. Last week, Facebook Inc introduced a catalogue for the WhatsApp messaging app, owned by the social media giant. The former had purchased the latter for “$19 billion” in 2014, while the...
SoftBank sets to create tech giant by merging Yahoo Japan and Line
Japanese internet portal Yahoo Japan, owned by Softbank, and the operator of the popular messenger Line Corp. reached an agreement on merger. Yahoo Japan, now called Z Holdings Corp last month, and Line are planning to finalize the deal next month. Under the terms of the deal, Sofbank and South...
Tesla to invest €4.4 bln in its first European plant
Tesla intends to invest €4.4 billion in its first European plant, which will be built in Berlin, reports Bild am Sonntag. The plant will produce batteries and electric cars of the company. Production of cars will reach 150 thousand cars a year, the publication says. The company plans to hire 3...
Twitter To Face Tough Times Over Its Ban On Political Ads Policy Formulation
After having announced its decision to ban all political ads on its platform, the social media giant Twitter now has the tough task of actually putting out a policy even while facing potential protests and questions about its policy. The announcement was made about two weeks ago by the company CEO...
License To American Companies To Do Business With Huawei To Be Extended: Reports
According to reports, an extension for two week for a license to American companies will be given by the Trump administration to allow them to do business with the Chinese tech giant Huawei, which has been blacklisted by the US government. However, this two week time period is way...
Maersk profit plunges to $17 mln in January-September
Net profit of Danish company A. P. Moller-Maersk A/S (Maersk) totalled $17 mln in January-September against $3.15 bln in January-September 2018, according to the company's financial statements. Revenue increased by 0.6% to $29.222bn, EBITDA - by 1.6% to $4.249bn. Including the net profit in the III...
Amazon to challenge Pentagon's decision to award Microsoft $10 bln contract
U.S. company Amazon plans to file a lawsuit against the U.S. Department of Defense demanding a review of the Pentagon's decision to enter into a contract with Microsoft, CNN reported citing the corporation's statement. The contract for the creation of cloud storage infrastructure is designed for...
Facebook upgrades Facebook Pay
Facebook has launched the Facebook Pay electronic payment system, which will operate on the social network of the same name, its messenger, Instagram and WhatsApp, the company’s blog reads. The service started in the USA for Facebook and messenger to pay for purchases in gaming applications and in...
70% Drop In Quarterly Profits Reported By Nissan, Slashes Full Year Forecast
Profits at the Japanese auto major Nissan Motor Co Ltd fell by 70 per cent for the July-September quarter as reported by the company on Tuesday while also announcing a lowering of its forecast for the entire year’s profits which came out to be the lowest in 11 years. Ever since the arrest and...
