Companies

Despite EU fine, Alphabet records $3.2 billion profit

Google's parent company beat all expectations with a profit of $3.2 billion for Q2 in 2018. CEO Sundar Pichai is hopeful of finding a solution to the Andriod problem that lead the EU to fine Google $5 billion.

Jul 24, 2018

Chinese boost for OYO Rooms? Tencent in talks to invest up to $500 mn

The investment would raise the Indian company's value to over $2 billion. Oyo needs the funds to expand further in China, its largest overseas market, where it has witnessed rapid growth since starting operations in November 2017.

Jul 24, 2018

OnePlus 6, Midnight Black, India, launch, price

OnePlus eyeing new HQ in India; R&D centre likely in Bengaluru or Hyderabad

OnePlus has announced plans to open a global HQ in India, as well as an R&D centre in either Bengaluru or Hyderabad. Along with local manufacturing, the centres are expected to help make OnePlus more popular in India as well as lower prices.

Jul 22, 2018

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After making a profit, Ola eyes IPO

The app-based ride-hailing service has finally begun making a profit of every ride, prompting CEO Bhavish Aggarwal to eye an IPO within the next four years.

Jul 21, 2018

Microsoft investors celebrate after stock hits new record high

Growth in its software and Azure cloud services business bolstered Microsoft's stock to $108.20 in early trade, resulting in a market cap of $832 billion after its earnings call. The company is now a close third, in the race with Apple and Amazon to be the first $1 trillion company.

Jul 21, 2018

Wipro sees strong demand for services from financial clients

Beating analysts' forecasts, net profit for the IT firm grew 2 percent mostly for its US businesses. India and the Middle East contribute around 10 percent, a number that the company is keen to change at the earliest.

Jul 21, 2018

Trump holds his signed memorandum on intellectual property tariffs

Trump's trade war: Amazon, Toyota working to counter tariff plans

Toyota Motor North America, a subsidiary of Japan's Toyota, even flew workers to Washington for a rally this week in front of the U.S. Capitol.

Jul 21, 2018

Comcast concedes defeat to Disney, withdraws bid for Fox

Comcast announced that it was dropping its $66 billion bid for Twenty-First Century Fox, clearing the path for Disney to take over the lucrative entertainment assets. Comcast will now focus on acquiring a stake in European broadcaster Sky.

Jul 20, 2018

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Ola expands Australian services with Adelaide

The Indian app-based taxi service has announced operations in its sixth Australian city on Thursday. Riders in Adelaide will be offered discounted services as Ola begins services in the city.

Jul 19, 2018

Skytrax World Airline Awards: Singapore Airlines named world's best for 2018

Singapore's triumph highlighted resurgence in Asian carriers, which have contested against their Middle Eastern counterparts for supremacy ever since UK-based aviation industry reviewer Skytrax introduced its awards in back in 2001

Jul 18, 2018

Elon Musk Calls British Diver Who Helped Thai Schoolboys Is A Pedo Guy In Twitter Outburst

Furious investors send Tesla shares plummeting amid Elon Musk's Twitter rant

The repercussion of the Tesla founder's tweet calling a diver involved in the Thai cave rescue a paedophile has resulted in the company having the worst-performing stock on the Nasdaq index as share crashed by 3%.

Jul 17, 2018

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PhonePe acquires Zopper Retail to fight competition

Zopper claims to have a network of three lakh offline and online merchant outlets covering food, travel, groceries, and movie tickets among other services.

Jul 17, 2018

China's ride-hailing giant Didi may spin off its car services unit for up to $1.5 billion

Chinese ride-hailing giant Didi Chuxing Technology Co Ltd is looking to spin off its car services unit in a deal worth up to $1.5 billion ahead of its expected initial public offering, people with direct knowledge of the matter told Reuters.

Jul 17, 2018

Adidas goes green; to use only recycled plastic by 2024

After IKEA, Starbucks and McDonald's, Adidas is the latest corporate to wean off plastic, as it announced that it would use only recycled plastic in all its products by 2024. The project will start this year and is estimated to save 40 tonnes of plastic annually.

Jul 17, 2018

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NPA 'irregularities': ICICI Bank launches second inquiry

The allegations are related to cases where the bank have inflated profits by at least $1.3 billion over eight years by delaying provisioning for 31 non-performing assets (NPA) accounts.

Jul 16, 2018