Sequoia Capital Raises $2.85 Billion to Fund Indian and Southeast Asian Startups

Venture capital firm Sequoia Capital announced having raised $2.85 billion which it will be using to fund startups from India and Southeast Asia. The firm made this announcement on June 14 further adding that it will be looking beyond current weakness in upcoming companies in the region. In a statement, the company said, the capital […]

Apple to Provide Other Payment Methods in Dating Apps Says Dutch Watchdog

Dutch’s antitrust regulator, the Authority for Consumers and Markets (AMC) says that tech giant Apple Inc. (AAPL) will be providing different payment methods in Netherlands for Dutch dating apps, this development will bring to a close a dispute which would have resulted to Apple getting fined 50 million euros ($52.58 million). Following this concession the […]

Disney+ Launches its Streaming Services in Middle East and North Africa

Walt Disney Co. (DIS) owned streaming platform Disney+ has launched its streaming services in the Middle East and North Africa with an aim of making an entry into the markets where in a region categorized by high population rate of young people but few people using the services. Disney+ says it has visited all the […]

Google Ordered to Pay Australian Politician $515,000 Over Defamatory Videos

Alphabet Inc. (GOOGL) the parent company of online search giant Google has been ordered to pay a former Australian politician, John Barilaro, A$715,000 ($515,000) over refusal to take down YouTube videos which were ‘relentless, racist, vilificatory, abusive and defamatory’ which caused the politician to lose his seat. The Federal court established that Google intentionally hosted […]

Tesla Suspends Hiring Further Set to Lay Off 10% of its Labor Force

At the end of last week, Elon Musk, the founder and chief executive officer of leading electric vehicle manufacturer Tesla Inc. (TLSA) send an internal memo expressing how he is feeling ‘super bad’ about the economy and the need to slash 10% of the company’s salaried employees so as to cope with the harsh economic […]

Amazon to Cease Supplying China Retailers With its Kindle

U.S leading online retailer Amazon Inc. (AMZN) will stop supplying China retailers with its Kindle e-readers it will also close its Kindle e-bookstore in China next year. This development comes as the latest pullback of Amazon from what it terms as a restrictive market in China. Amazon made this announcement through its WeChat account on […]

Mexico Accepts U.S Request to Investigate Labor Abuses Claims at Panasonic

Mexico’s Economy Ministry has accepted a request by the United States to probe into alleged labor abuses claims at an auto parts factory in the northern border city of Reynosa belonging to Panasonic Holdings Corp. (TYO: 6752). Earlier in the month, the U.S. Trade Representative (USTR) requested for the probe. This request went down as […]

Tata Motors Eyeing to Acquire Ford’s Factory in India

India based automotive manufacturing company Tata Motors Ltd. (NSE: TAMO) is eyeing to acquire a production facility in India owned by American car maker Ford Motor Co. (F). Tata has already signed an agreement to potentially acquire the manufacturing facility in the western state of Gujarat. Tata is aiming to purchase the facility in a […]

Apple to Maintain a Flat Rate iPhone Production in 2022

iPhone manufacturer Apple Inc. (AAPL) says that it will be keeping iPhone production at a flat rate of about 220 million units in 2022. The company cites the prolonged global computer chip shortage and China’s COVID-19 restrictions as the main reasons affecting the smartphone industry. A major outbreak of COVID-19 in china has left the […]

Pfizer Selling its Patented Drugs at Nonprofit Prices to Low Income Countries

Pharmaceutical and biotechnology company dedicated to discovering, developing, manufacturing and marketing prescription medications Pfizer Inc. (PFE) will be selling all of its patented drugs at a nonprofit making prices to 45 of the world’s poorest countries. The company made this announcement on May 25. These drugs will include COVID-19 treatment Paxlovid and big-selling breast cancer […]