Money

Chip Shortage Will Result to Czech Car Industry Producing 250,000 Fewer Cars in 2021

Since the coronavirus pandemic set foot in the world, chip shortage has been the talk of the day due to increased use of devices since many activities like learning, meetings and others shifted to the online space leading to demand increase of computer chips around the globe. The Czech Republic car industry is expecting to […]

Consumer Technology Company Nothing Raises $50 Million From Latest Financing Round

London based consumer technology company Nothing says it raised $50 million from its latest funding round in which strategic and private investors took part in. The company further announced having entered into a partnership with leading American chip manufacturer Qualcomm Inc. (QCOM). Back in August, Nothing launched a transparent earbud which comes with active noise […]

Ant Group Scales Up its Registered Capital by 47% to $5.4 Billion

China based provider of innovative technology focusing at providing the world with green, inclusive and sustainable services Ant Group announced having ramped up its registered capital by 47% to $5.44 billion up from $3.7 billion. The company says that the additional registered capital came from capitalization of its capital reserve and that it didn’t engage […]

Qualcomm and SSW to Acquire Veoneer in a $4.5 Billion Deal

Leading semiconductor manufacturer Qualcomm Inc. (QCOM) has entered into an agreement with SSW Partners to acquire Sweden based automotive technology group Veoneer Inc. (VNE) in a deal worth $4.5 billion. SSW Partners is a newly launched investment company in New York and according to the agreement Qualcomm and SSW will purchase the stock of Veoneer […]

Zoom Abandons $14.7 Billion Acquisition Deal With Five9 Inc.

Online video-conferencing services provider Zoom Video Communications Inc. (ZM) has abandoned a $14.7 acquisition deal of leading provider of cloud contact center solutions Five9 Inc. (FIVN) following various which came up while the deal was almost getting closed. Among the major reasons is the unwillingness by Zoom to add cash on its bid as the […]

Google to Cut Down Charges on Sales From its Cloud Marketplace

Alphabet Inc. (GOOGL) the parent company of leading search engine Google announced that it will be cutting down the amount it charges customers who purchase software from other vendors on its cloud marketplace. According to a report released by the company, Google is cutting down its percentage revenue share from 20% down to 3% for […]

Freshworks IPO Raises $1.03B Leaving the Company with a $10.13B Market Valuation

Business software company targeting small and medium-sized businesses Freshworks Inc. (FRSH) has just concluded its United States initial public offering (IPO) from which it raised a whopping $1.03 billion leaving the company sitting on a market valuation of $10.13 billion. In the IPO, Freshworks sold 28.5 million shares with each share going for $36. The […]

Amazon to Create 1,500 Jobs in the UAE Before the Year is Over

Leading online retailer also engaging in cloud computing, artificial intelligence and online streaming Amazon Inc. (AMZN) says that it will create direct and indirect job opportunities for 1,500 people in the United Arab Emirates (UAE) before the year is over. The company says it’s seeking to expand its presence in the Middle East country and […]

Volkswagen’s Skoda Halts Production in Czech For a Week Due to Chip Shortage

Skoda Auto, Czech Republic based car manufacturer owned by leading German based automotive manufacturer Volkswagen Group AG (ETR: VOW3) says that it stopped production activities at its main domestic factories for a week at the end of September due to chip shortage. This chip shortage resulted to various unexpected circumstances like delayed car deliveries, a […]

South Korea Slaps Google With a $177M Fine For Blocking Android OS Customized Version

Alphabet Inc. (GOOGL) the parent company of leading search engine Google has been slapped with a 207 billion won ($176.64 million) fine by South Korea’s antitrust regulator, Korea Fair Trade Commission (KFTC) for blocking the customized version of Android Operating System which it also owns. KFTC claims that according to the contract terms between Google […]