Markets

Hugo Boss Optimistic of Sales Boom in China Despite Western Boycott Calls

German based luxury fashion house Hugo Boss AG (ETR: BOSS) is optimistic that sales in mainland China will boom despite increasing calls from the west urging western multinationals to boycott China following forced labor accusations in Xinjiang. In the first quarter ending March 31, Hugo Boss recorded double sales in mainland China. The company’s chief […]

Tesla Facing Intense Scrutiny in China Over Safety

United States based leading electric vehicle manufacturer Tesla Inc. (TSLA) is facing intense scrutiny in China concerning the safety of its vehicles and following customer service complaints. Sources directly linked to the matter disclosed that the company is holding talks with regulators in mainland China to try and improve its relation with the China’s authorities. […]

Twitter Expecting a Weaker Financial Performance in 2021

Listed companies have been reporting their results for the first quarter of the year. Social networks have been posting increased results due to increased online activities among users courtesy of the pandemic. However, this seems not to be the case with widely used social network Twitter Inc. (TWTR). The company has reported its first quarter […]

Samsung Reclaims World’s Biggest Smartphone Seller Title From Apple

South Korean consumer electronics company Samsung Electronics Co Ltd (KRX: 005930) reclaimed the position of world leading smartphone seller from its United States competitor Apple Inc. (AAPL) after accounting for 22% of global smartphone sales in the first quarter of the year. In the first quarter ending March 31, Samsung shipped 76.5 million smartphones translating […]

Alphabet Breaks Quarterly Profit Record for the Second Consecutive Time

Alphabet Inc. (GOOGL) the parent company of leading search engine Google has reported quarterly record profit for the second consecutive quarter. The company attributes this performance to increased online activities and as sales during the pandemic. For the first quarter ending March 31, Google recorded a quarterly profit of $17.9 billion, or $26.29 per share. […]

Facebook and Gucci Jointly File Lawsuit Against Counterfeiter

Italian luxury fashion house Gucci and social network company Facebook Inc. (FB) have jointly filed for a lawsuit against a counterfeiter who according to the filing used Facebook’s platforms to sell counterfeit Gucci products. This development it’s first of its kind whereby, a social media company is joining hands with a good or service selling […]

Apple to Add Second Ad Slot in App Store Search Page

IPhone manufacturer Apple Inc. (AAPL) is planning to expand its ads business according to a development first reported on Financial Times. The tech giant is planning to expand its ad business by adding a second ad slot in the App Store search page under the suggestion section. This new ad slot is set to be […]

Ant Group Seeking Ways to Divest Jack Ma’s Stake in the Company

China based financial technology company Ant Group is reportedly seeking ways to divest the investment of Chinese billionaire Jack Ma in the company due to estranged relation between Jack Ma and the Chinese authorities. Ant Group is an affiliate of leading Chinese e-commerce platform Alibaba Inc. (BABA) the company also owns Alipay, China’s biggest online […]

U.S House Committee Gives Green Light to Bill Aimed at Banning Big Tech From Making Acquisitions

The United States House of Representative Judiciary Committee has approved a bill seeking to ban big tech companies from making any further acquisitions or merger deals. This proposal was introduced by Missouri Senator Josh Hawley earlier in the week. According to the proposal big tech companies are defined as tech companies with over a market […]