Amazon Withdraws From Black Friday ad Campaign in France

Leading e-commerce company Amazon Inc. (AMZN) has withdrawn from running ads for pre-Black Friday discounts in France. This comes moment after the French government said the campaign was relatively unfair to small retailers especially at a time when the pandemic has forced the European nation into a lockdown. French government argues that the lockdown has […]

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 […]

Verizon Wins Bids Worth $1.9 Billion in an Auction

The Federal Communications Commission (FCC) has announced that telecommunications company Verizon Communications Inc. (VZ) managed to win bids worth around $1.9 billion during an auction of a vital spectrum block in the 3.5 GHz band. Generally, 228 bidders participated and won bids totaling to around $4.6 billion for the mid-spectrum block. Additionally, the FCC further […]

Lyft’s Revenue Drops by 61% in the Second Quarter

North America based ride hailing firm Lyft Inc. (LYFT) announced that its revenue for the second quarter of the year dropped sharply by 61% due to travelling restrictions and stay at home orders put in place to curb spread of the deadly virus. The company says number of active riders declined by 60% to 8.69 […]

Google Acquiring 6.6% Stake in ADT for $450 Million

The parent company of Google Alphabet Inc. (GOOGL) is set to purchase 6.6% stake in ADT Inc. (ADT) in a deal where the tech giant will cash out $450 million. Google is aiming at capitalizing on its strong customer base and its tech experts to increase sale of ADT’s devices. This deal grants ADT confidence […]

Pandemic Pushes Tailor Brands to Bankruptcy

Retail holding company for men apparel Tailor Brands Inc. (TLRD) has filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. The retailer cites breakout and continued rapid spread of deadly COVID-19 which has crippled many sectors of the economy resulting to significant declined sales by the company. Among […]

Amazon Generating Unusually High Profits Amidst Pandemic

It’s not a secret that world’s leading e-retailer Amazon Inc. (AMZN) has been reaping big from the pandemic in terms of sales. Well, it seems the good fortunes for the company are just getting better with each passing day. Amazon has posted its results for the second quarter of the year ended June 30, where […]

Huawei Sold More Phones Than Samsung in the Second Quarter

Chinese tech giant Huawei Technologies overtook South Korea based Samsung Electronics (005930) in the second quarter becoming the largest seller of mobile phones in the second quarter of the year. Citing data compiled by a research company known as Canalys, Huawei shipped 55.8 million phones in the second quarter while it arch competitor Samsung shipped […]

IBM Soar Above Analysts’ Estimates in Q2 Results

U.S based Tech Company International Business Machine Corp. (IBM) announced its results for the second quarter of the year largely performing better than what analysts had estimated for the company in the quarter. In the quarter revenue for the cloud business of IBM increased by a significant 30% to $6.3 billion. The company recorded earnings […]