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Alibaba and Richemont Investing $1.1 Billion in Online Luxury Fashion Retailer Farfetch

Leading Chinese tech e-commerce and tech company Alibaba Inc. (BABA) and Swiss based luxury goods holding company Compagnie Financière Richemont SA (SWX: CFR) will be injecting a $1.1 billion investment in online luxury fashion retail platform Farfetch Ltd. (FTCH). Asia online demand for luxury goods has been on the rise forcing Farfetch to create a new […]

Facebook and Twitter Suspends Accounts Spreading Misinformation About U.S Elections

Leading social media networks Facebook Inc. (FB) and Twitter Inc. (TWTR) have suspended multiple accounts which have been passing across misinformation about ongoing U.S elections. Most of these accounts are newly created and they have been violating policies of these social media platforms. Twitter said it suspended the involved accounts for posting identical posts which […]

Aphria to Acquire Sweetwater in a Deal Worth $300 Million

Canada based pharmaceutical company and cannabis producer Aphria Inc. (APHA) will be purchasing craft brewer SweetWater Brewing Co in a deal worth $300 million. Aphria will be using this acquisition to broaden its market share in the United States and also enter the alcoholic beverages market. Following the acquisition, Aphria will become the first cannabis […]

Waymo Halts Driving Operations in San Francisco During Election Period for Safety Reasons

Autonomous driving tech company Waymo temporarily halted driving operations in San Francisco areas for the period November 3 to November 4. The company said this suspension is for safety reasons during ongoing U.S Presidential elections. “Out of an abundance of caution and with the safety of our team in mind, we are temporarily suspending driving […]

Walmart Abandons Plans of Using Robots for Inventory Tracking

U.S based operator of hypermarkets and retail corporation Walmart Inc. (WMT) has abandoned its earlier announced plans of using robots to track inventories in the company. This announcement means the world’s largest retailer will have to wait a bit longer to actualize its plans of using robots to track inventories. Walmart said it had ended […]

Amazon Withdraws From Black Friday ad Campaign in France

Leading e-commerce company Amazon Inc. (AMZN) has withdrawn from running ads for pre-Black Friday discounts in France. This comes moment after the French government said the campaign was relatively unfair to small retailers especially at a time when the pandemic has forced the European nation into a lockdown. French government argues that the lockdown has […]

Netflix Increases Monthly Charges for Its U.S Subscribers

Production and media service provider Netflix Inc. (NFLX) announced having raised monthly charges for its standard and premium subscribers based in the United States. The company has raised price of its standard subscription by $1 a month bringing it to $14 and the cost of its premium subscription by $2 per month amounting to $18 per […]

Samsung Posts Best Quarterly Operating Profit in Two Years in Q3

South Korea based Tech giant Samsung Electronics Co Ltd. (005930) reported its third quarter results of the year posting the best quarterly Operating profit in the past two years in the quarter. In the third quarter ended September 30 Samsung reported an operating profit of 12.35 trillion won ($11 billion) denoting a 59% increase. It’s […]

Sony Getting Strong Demand for PS5 Ahead of its Launch

Sony Corporation (TYO: 6758) has reported that it’s already receiving a strong demand for eagerly awaited PlayStation 5 (PS5) even weeks ahead of its official launch which is slated for November 12. This was announced by the CEO of Sony Interactive Entertainment Jim Ryan, who said they have pre-sold many PS5 consoles in the first […]

Immune Response for AstraZeneca and Oxford Vaccine Raises Hopes for COVID-19 Vaccine

The vaccine under trials by Europe based biopharmaceutical AstraZeneca Plc. (LON: AZN) and Oxford University has raised hopes of a suitable vaccine against the deadly COVID-19 vaccine after the company said experimental vaccines produces an immune response in both young and old adults. The vaccine is said to be triggering lower adverse responses among older […]

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