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Loans are the Secret of Indians Lifestyle: Survey

8Aug By PriyankaNo Comments

ANALYSIS

Loans are the Secret of Indians Lifestyle: Survey

Around half of Indians surveyed are open to taking loans especially for fulfilling family needs and upgrading their lifestyle, a report said on Thursday. The survey commissioned by Home Credit India, a consumer finance provider, revealed that nearly one-third of respondents are willing to take a loan for a consumer durable item such as mobile phone, television, and refrigerator etc. The other popular loan categories are two-wheelers (23.3 percent) and personal expenses (20.3 percent), the survey said. This is followed by car purchase (12.5 percent), house (12 percent) and gold (10.5 percent), it said. When asked about the future, 33 percent of respondents are likely to take it for consumer durables while personal loans are the next high interest segment at 28 percent followed ...

8Aug By PriyankaNo Comments

ACQUISITION

NIKE acquires AI driven Startup Celect

BEAVERTON, Ore.-- NIKE, has acquired Celect, a leading retail predictive analytics and demand sensing firm based in Boston. Celect is Nike’s latest acquisition fueling its Consumer Direct Offense strategy, serving consumers personally at a global scale. “With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” said Eric Sprunk, NIKE, Inc. Chief Operating Officer. “As demand for our product grows, we must be insight-driven, data optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.” Celect, founded in 2013, holds a cutting-edge intellectual property portfolio across data science and software engineering. Celect’s cloud-based analytics platfor...

8Aug By PriyankaNo Comments

FUNDING

LQI raises funding from Indian Singer Sukhbir Singh

August 7, 2019: Indian Singer Sukhbir Singh announced his first investment in Gurugram based beverage startup, LQI. LQI, is selected as the first startup by Mr. Singh for investment, out of 5 startups shortlisted by startup incubator company Startup Buddy for pitching. LQI is in the process of raising USD 200K and the Funds will be deployed to increase the production capacity and the geographical expansion to newer markets. As per the news, Singer Sukhbir investment amount is between 10 to 25 Lakhs. Founded in Mid-2016 by Shubham Khanna, Palak Kapoor, and Kapil Kumar, LQI uses their proprietary technology to manufacture Smoothie, Milkshake and Fruit Water frozen packs made with 100% raw fresh fruit with an increased shelf life of 2.5 months without use of any colors, flavors,...

8chan founder blasts over Website shutdown

7Aug By PriyankaNo Comments

News

8chan founder blasts over Website shutdown

The founder of 8chan chat forum has described moves to shut down his website because it hosted hate messages linked to deadly US killings as "sinister" and "cowardly". In a video uploaded to Youtube, Philippines-based Jim Watkins said the deadly weekend attacks in the American cities of El Paso and Dayton were a tragedy. But Watkins insisted 8chan had not broken any laws and devoted most of his seven-and-a-half-minute video to criticizing the subsequent moves to shut down his forum. "It is actually sinister behaviour. Ours is one of the last independent companies that offer a place you may write down your thoughts free from having to worry about whether they are offensive to one group or another," Watkins said. Watkins portrayed efforts against 8chan as part of the "power cons...

Apple Credit Card Launched For Mobile Users

7Aug By PriyankaNo Comments

Tech

Apple Credit Card Launched For Mobile Users

NEWYORK, 7th Aug 2019-- iPhone maker Apple launched its own credit card, designed primarily for mobile users. Apple announced the card in March in a partnership with Goldman Sachs. On Tuesday, some iPhone users who requested a notification about Apple Card will get invites to apply through Apple's Wallet app. The company plans to expand sign-ups more broadly in the coming weeks. The card is available only in the US. The company promises quick sign-ups and the elimination of most fees. Customers typically get 2 percent cash back when using Apple's app to pay. Industry experts, though, say that the financial benefits of Apple Card mirror many of those already out there for consumers. What sets Apple Card apart from other cards is its reliance on the iPhone. Though customers can...

Walmart owned Flipkart will Launch its own Video Streaming Platform

6Aug By PriyankaNo Comments

News

Walmart owned Flipkart will Launch its own Video Streaming Platform

Upping its ante against rival Amazon, Walmart-backed Flipkart said it will roll out video streaming service and make its platform available in vernacular languages as part of its efforts to woo the next 200 million internet users onto its platform. The video streaming service ‘Flipkart Videos’ will be ad-supported and available free for users on Flipkart’s app. The content available will be a mix of short films, full-length movies and episodic series, and the company is in discussions with content makers to expand the library. The move also assumes significance in view of the upcoming festive season that accounts for a significant share of India’s e-commerce sector’s annual sales volumes. “We have a lot of investment going into this. Apart from shopping, we also want users to spe...

Jeff Bezos sells Amazon shares worth $2.8 billion

6Aug By PriyankaNo Comments

News

Jeff Bezos sells Amazon shares worth $2.8 billion

San Francisco: Amazon.com Inc Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last Thursday and Friday, taking the total value of shares sold last week to $2.8 billion. In the last three days of July, Bezos has sold stock worth about $1.8 billion, regulatory filings with the Securities and Exchange Commission showed. Amazon declined to comment on Bezos' stock sale. The move comes as part of a previously announced trading plan. Bezos had previously said he plans to sell stock worth about $1 billion each year to fund his rocket company, Blue Origin. Bezos' former wife, Mackenzie Bezos, who currently owns Amazon stake worth more than $37 billion, is now the online retailer's second largest individual shareholder. https://pixr8.com/...

5Aug By PriyankaNo Comments

FUNDING

BalleBaazi.com raises $4mn in Series A funding

Online fantasy gaming platform BalleBaazi.com has raised USD 4 million (nearly Rs 30 crore) in series A round. The funds were raised from two private equity funds based out of Singapore and Delhi, the company said in a statement. The funds will be utilised to expand its business to newer markets and enhance gaming experience for users, which stands at around 3 million at present, it added. "Online gaming industry in India is growing marvellously and is poised to grow even faster. The potential is huge and the funds will certainly pave way for newer innovations and catalyse our upward journey at BalleBaazi," BalleBaazi.com CEO Saurabh Chopra said. It also plans to introduce more games under the umbrella of fantasy gaming, thus engaging with audience across different genres of s...

Automation Anywhere acquires Paris based Klevops

2Aug By PriyankaNo Comments

ACQUISITION

Automation Anywhere acquires Paris based Klevops

Automation Anywhere, a provider of robotic process automation (RPA), has acquired Paris-based Klevops. However, Automation Anywhere didn't disclose the deal amount. RPA technology refers to the use of software robots (bots) to automate business processes that are currently managed manually by human workers. "With the acquisition, Automation Anywhere fast forwards the RPA category to Attended Automation 2.0, where managers can easily orchestrate workstreams across a team of employees and bots, driving a higher level of employee productivity and improved customer experience," a statement said. The acquired technology from Klevops will alter the dynamics between attended and unattended automation, making it a foundational solution for companies scaling their automation initiatives a...

Indian Government New Policy for Electric Vehicle Push in India

1Aug By PriyankaNo Comments

Automobile

Indian Government New Policy for Electric Vehicle Push in India

India includes some of the world's most polluted cities, the government is focused on ensuring reduced greenhouse gas emissions from the automotive sector. Thus, the Indian government has planned to invest $1.4 billion toward incentivizing electric vehicle manufacturing in the country through its Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. To further, promote the adoption of EVs in the Indian market, the government during the 36th GST council meeting recommended a reduction in GST from 12% to 5% for electric vehicles and the GST for EV charger/charging stations has been reduced from 18% to 5%. Additionally, the government is planning to introduce several tax benefits of up to INR 1.5 Lakhs ($2,189) on interest paid on loans, with a total exemption ben...

Apple Profit fell 13 percent due to weak iPhone sales

31Jul By PriyankaNo Comments

BUSINESS

Apple Profit fell 13 percent due to weak iPhone sales

In quarterly results, Apple mentioned its profit hits first time since 2001 due to weak iPhone sales. Apple profit fell 13 percent from the year-ago period to USD 10 billion while overall revenues increased one percent to a better-than-forecast USD 53.8 billion. However, Apple delivered stronger-than-expected results from services, its shares rose more than four percent in after-hours trade. As iPhone sales have weakened, Apple has been shifting to earnings from digital content and services sold to the legions of fans of its devices. Despite the decline in sales and profits, the CEO of Apple Tim cook said, "This was our biggest June quarter ever driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and signifi...

Flipkart Launched offline Furniture Store in Bengaluru

30Jul By PriyankaNo Comments

News

Flipkart Launched offline Furniture Store in Bengaluru

Flipkart announced its foray into the offline space with its decision to set up first Furniture Experience Centre in Bengaluru. Spread across nearly 1,800 square feet, Flipkart would offer a touch and feel experience to customers in the fast-evolving online furniture market, the e-commerce major said in a statement. According to the company, this is a step towards helping customers understand the vast selection of furniture offered by Flipkart and increase awareness around the seamless buying and installation experience it offers. Flipkart Vice-President (Furniture, Electronics and Private Label) Adarsh Menon said, "As a customer-focused organisation, we understand the requirements of customers and hence 'FurniSure'. The idea behind the FurniSure Experience Zone is to allow custo...