Company News

HSBC Will to Lay Off 35,000 Employees

Britain based investment bank and provider of financial services HSBC Holding plc. (HSBC) will be cutting its labor force by 35,000 employees as a measure set to help the bank come out of the coronavirus pandemic. This massive redundancy plan had been agreed on earlier as per an internal memo of the company however execution […]

Facebook Staff Pressure Zuckerberg to Restrict President’s Trump Inciting Posts

Facebook Inc. (FB) employees working from home due to the pandemic took on Twitter to pressure their boss Mark Zuckerberg to put restriction on what they term as inciting posts from U.S President Donald Trump which are doing rounds on various social media platforms owned by the company. Most of them who include top management […]

Volkswagen Finalizing Deals With Two Chinese EV Companies

German based and world leading automaker Volkswagen AG (VOWG) is in the brink of sealing deals with two Chinese electric vehicle companies namely Anhui Jianghuai Automobile Group Holding and an EV battery manufacturer Guoxuan High-tech Co Ltd (002074). Sources have revealed that Volkswagen is set to part with 3.5 billion yuan ($491 million) to acquire […]

Daimler Will be Investing in Farasis Upcoming IPO

The parent company of world leading automaker Mercedes Benz, Daimler AG (DAIG) has made public its plan to invest in upcoming initial public offering of China based electric vehicle battery manufacturer Farasis Energy. The decade old company is looking forward to go public later in the year, from where it expects to fetch 3.4 billion […]

Alibaba Investing $1 billion in Smart Speakers

Chinese based e-commerce giant Alibaba Group Holding (BABA) announced it will be pumping a $1 billion (10 Billion Yuan) investment into an artificial intelligence (AI) and Internet of Things (IoT) revolving around its Tmall Genie smart speaker. For some time now Alibaba has been giving special attention to new technologies and other business ventures apart […]

TikTok Poaches New CEO From Walt Disney

China based video sharing social networking platform TikTok has poached Chief of streaming in mass media and entertainment company Walt Disney Co. (DIS) Kevin Mayer as its new Chief executive officer. TikTok which is owned by China ByteDance Technology Co announced the news further clarifying the incoming CEO will be assuming office in June 1. […]

Sony Develops World’s First Image Sensor With Integrated AI

Japan based Sony Corporation (TYO: 6758) has announced having developed first image sensor with an integrated artificial intelligence (AI) processor in the world. Sony claims this image sensor is capable of scanning barcodes, monitor drowsiness of a driver and it can determine size of a crowd. All this will be captured in one chip. “As […]

Coronavirus Pandemic Pushes Intelsat into Bankruptcy

Luxembourg based satellite company Intelsat Corp SA. (I) announced that it had filed for chapter 11 bankruptcy earlier in the week. The tech company says coronavirus pandemic is the main reason it decided to seek bankruptcy protection. The bankruptcy was filed in the U.S. Bankruptcy Court for the Eastern District of Virginia. Under the filling, […]

Twitter Adds Labels on Tweets With Misleading Information on Coronavirus

Social network Twitter Inc. (TWTR) will be introducing labels and warning messages on tweets containing misleading or disputed information concerning coronavirus pandemic. The company made the announcement further adding this new approach will be extended to other topics in due time. In scenarios where the risk of harm is relatively high, the new label on […]

Vietnamese Samsung Workers Quarantined Following a Coronavirus Positive Case

Workers at a production plant for leading consumer electronics producer Samsung Electronics Co. (KRX: 005930) in Vietnam have been quarantined after one of them tested positive for deadly coronavirus. One employee, aged 25 working at the EQC-SI unit of the Samsung Display plant in Bac Ninh, tested positive following a coronavirus test conducted by the […]