Markets

Philippines Legislators Approves VAT for Big Tech Companies

The lower house of congress in Philippines has approved a bill which imposes a 12% value added tax (VAT) to big technology companies operating in the country. The lawmakers voted 167:6:1 in favor of the bill which affects multinational companies like Google, Facebook Inc. (FB), Apple Inc. (AAPL) and Netflix Inc. (NFLX). The 12% will […]

Twitter to Pay $809 Million as Settlement for a 2016 Class Action Lawsuit

Social network company Twitter Inc. (TWTR) says that it will part with $809.5 million to settle a 2016 shareholder class action lawsuit in which it was accused of deceiving investors how frequently individuals use its social media platform. Back in 2016, shareholders of the company sued Twitter after discovering the company artificially inflated the price […]

Honda Targeting 70,000 Annual Electric Vehicles Sales in the Unites States From 2024

Japan based manufacturer of motorcycles and automobiles Honda Motor Co. (TYO: 7267) says that it’s 70,000 annual sales of electric Prologue sport utility vehicle in the United States starting from 2024. The sport utility electric vehicle by Honda is set to hit the market on 2024. In addition, the company said it plans to have […]

U.S Trade Officials Terms India’s Ban on Mastercard as ‘Draconian’

According to leaked United States government emails, an official from the United States trade criticized an earlier move by the Indian government to ban further terming it as a ‘draconian’ move which caused resulted to panic. According to the documents, the United States government expresses its frustrations with the decision by the central bank of […]

Snap Inc. Hires First Global Head For User Safety

Snap Inc. (SNAP) the parent company of widely used photo messaging and short video platform Snapchat has appointed its first ever global head of user safety on its platform as part of its new ramped up measures of increasing user safety across its platform. In recent times, social media companies have been facing increasing pressure […]

Capital One Will be Testing Buy Now Pay Later Product This Year

United States based bank holding company focusing on banking, saving accounts, auto loans and credit cards Capital One Financial Corp. (COF) says that it will be testing the buy now pay later product in the course of the year. The company’s chief executive officer, Richard Fairbank, says they will be conducting this test at a […]

Spectrum Brands Selling its Hardware Division to Assa Abloy For $4.3 Billion

American home essentials company Spectrum Brands Holdings Inc. (SPB) says it has agreed to sell its hardware and home improvement division to Sweden based Assa Abloy AB (STO: ASSA) in a deal worth $4.3 billion. This deal will be an all cash one and it’s expected to be closed in the fourth quarter of the […]

JPMorgan to Acquire Majority Stake in Payment Business of Volkswagen

United States based investment bank and financial service provider JPMorgan & Chase Co. (JPM) announced that it will be acquiring a majority stake in the payment business of leading car manufacturer Volkswagen Group AG (ETR: VOW3). Volkswagen is set to roll out the payment business later in the year as Volkswagen Payments SA. The payment […]

Qualcomm Will be Supplying Chips for New Renault Electric Vehicle

Semiconductor manufacturer Qualcomm Technology Inc. (QCOM) announced that it will be supplying a key computing chip for the new electric vehicle of France based auto manufacturer Renault SA (EPA: RNO). The chip will be a computing chip for the digital dashboard, Qualcomm has been expanding its operations in vehicle chips which can power dashboard and […]

Amazon to Start Removing Inappropriate Content Violating Rules From Cloud Service

Giant e-commerce company which also engages on cloud-computing, artificial intelligence and digital streaming Amazon Inc. (AMZN) says that it will be taking more proactive measures to determine what type of content violates its cloud service policies. The United States based multinational company says it will be removing content which goes against its measures such like […]