H&M Sales Bounce Back as Shoppers Return Post Pandemic

World’s second largest fashion retailer H&M AB (STO: HM) has reported a larger than expected increase in sales in the three month period from March which signifies a rebound in demand after the pandemic. According to the company, net sales are up 17% year-on-year or 12% when measured in local currencies at 54.5 billion crowns […]

Atos CEO Resigns Following Divisions With the Board Over Strategy

France based information technology service and consulting company Atos SE (EPA: ATO) announced that its chief executive officer, Rodolphe Belmer, has stepped down from his position following deep divisions with the company’s board over strategy. This development comes just before the much waited capital market day that investors hope could restore confidence after a string […]

Messaging App Telegram Set to Launch a Paid Subscription Plan

Popular online messaging platform Telegram will be launching a monthly paid subscription platform for its users. This development was revealed at the close of last week by the platform’s founder, Pavel Durov. According to a blog post by Durov, user who will subscribe to the telegram premium will be getting higher limits for chats, media […]

ABB Delaying IPON of its E-Mobility Business due to Challenging Market Conditions

Robotics and Automation company engaging in robotics, machine automation and digital services ABB Ltd. (NYSE: ABB) is apparently delaying the initial public offering (IPO) of its E-mobility electric vehicles charging business due to current challenging market conditions. This development was announced by the company’s spokesman Daniel Smith on June 6, who said the current market […]

Ant Group Launches Singapore Based Digital Bank ANEXT

China based innovative technology provider in the financial technology sector Ant Group has launched a Singapore based digital bank named ANEXT Bank. The bank incorporated in Singapore was launched on June 6. Ant Group said ANEXT which is its wholly owned subsidiary, received approval from the Monetary Authority of Singapore (MAS) to commence business on […]

Walmart Has Been Working With Some Suppliers to Lower Prices Amid Inflation

U.S based retail company operating a chain of hypermarkets, discounted departmental stores and grocery stores Walmart Inc. (WMT) says that some suppliers have been working with the retailer to lower prices at a time when inflation is on a rapid increase in the country. This was announced by the company’s U.S chief executive officer, John […]

Navigation Device Maker TomTom to Slash its Labor Force

Developer and creator of location technology and consumer electronics TomTom NV (AMS: TOM2) is set to trim hundreds of jobs following improvements it has made in automating its mapmaking operations. The company says the lay-offs will amount to 10% of its global workforce. “Regrettably, this will have an intended impact on approximately 500 employees in […]

BT and Ericsson Partners to Build Private 5G Networks

Telecommunication equipment companies BT Group (LON: BT) and Ericsson LM (ST: ERIC) have entered into partnership agreement aimed at providing private 5G networks to businesses across Britain to enable them deploy the Internet of things among other technologies quickly and in a secure manner. Private 5G network works the same way at the public one […]

easyJet Set to Cancel More Than 200 Flights

London based low cost airline group easyJet Plc. (LON: EZJ) is set to cancel more than 200 flights over the in the course of this week attributed to airport delays and other restrictions which have disrupted travelling activities during the holiday season. Following the removal of COVID-19 restrictions, the airline has been facing numerous issues […]