Markets

Cisco Ordered to Pay $1.9 Billion After Losing a Patent Lawsuit

Silicon Valley based Technology Company Cisco Systems Inc. (CSCO) has been ordered by a U.S court to pay $1.9 billion after losing a patent lawsuit to Virginia based Centripetal Networks Inc. for copying cybersecurity patents of the company. After over a one month period which the case lasted, U.S. District Judge Henry Morgan in Norfolk, […]

Seattle Approves Minimum Rates for Uber and Lyft Drivers

On September 29 the Seattle City Council approved the minimum pay rates for drivers who operate Uber Technologies Inc. (UBER) and Lyft Inc. (LYFT) cabs around the Seattle area. According to the new regulation which is due to take effecting starting January next year, drivers will be earning a standard minimum rate of $16.39 per […]

Suspicious Logins Reported by Tyler Technologies Days After it Had Been Hacked

Largest provider of software to the private sector in the United States Tyler Technologies Inc. (TYL) has reported suspicious logins just days after the company announced that it had been hacked by a ransomware. The company said multiple clients reported suspicious logins in their accounts on September 28. On the specific day the company said […]

Two Shopify Employees Attempt to Steal Customers’ User Data

Ottawa based e-commerce company Shopify Inc. (SHOP) has come out to reveal two of its employees attempted to steal transaction records of its customers. Targeted transactions were the ones for clients with less than 200 merchants. The company said exposed client’s data included name, address, email and other personal records. Nonetheless, the attempted theft did […]

Intel Secures License to Continue Supplying Huawei

Technology company Intel Corporation (INTC) announced having secured a license from the government of United States to continue supplying blacklisted Chinese tech giant Huawei Technologies with various products. The news was announced by Intel’s spokesperson a month ago, the company had confirmed having applied for the license only waiting for approval from involved authorities. Things […]

Nikola’s Chief Executive Trevor Milton Steps Down

The founder and chief executive officer of electric truck manufacturer Nicola Corporation (NKLA) announced having voluntarily stepped down from his role as the CEO and a board member of the Arizona based company. His resignation was prompted by allegations from a forensic financial research firm Hindenburg Research which said Milton had been spreading false statements […]

Unity Software Shares Soars High After Company Goes Public

Video gaming software development company Unity Software Inc. (U) went public on New York Stock Exchange on September 17. Shares of the company were going for $52 in the initial public offering. The company’s services are majorly used by game developers, architects and artists. Filmmakers also use the services to create, run and monetize 3D […]

Phone Prices of Huawei Increases in China Due to Chip Shortage

The prices of Huawei’s smartphones is set increase after U.S completely cut down the company’s ability to access chips produced in the United States or those produced using technology or software from U.S. Many customers of Huawei Technologies in China are now in haste to buy Huawei’s products fearing the cut of chip supply will […]

Opendoor to Go Public Through Merger With a Blank Check Company

Property tech startup Opendoor Labs Inc. is planning to go public through a merger with a blank check company known as Social Capital Hedosophia Holdings Corp. The IPO will be led by several investors including Chamath Palihapitiya. The IPO will be backed by Japan based conglomerate SoftBank group Corp. (TYO: 9984) and it will leave […]