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US Second Largest Newspaper Group File for Bankruptcy

14Feb By PriyankaNo Comments

USA

US Second Largest Newspaper Group File for Bankruptcy

McClatchy, the second largest US newspaper group, announced that it was filing for bankruptcy protection in the latest sign of turmoil for the struggling media sector. The company said it would keep operating its 30 regional newspapers including the Miami Herald and Kansas City Star as it seeks to shed much of its debt and focus on "digital transformation." A reorganization plan included in the bankruptcy filing could hand over ownership of the newspaper chain to the private equity group Chatham AssetManagement and end the McClatchy stock listing. The bankruptcy filing seeks to shed some of the crushing debt acquired by McClatchy, which has a pension shortfall of more than half a billion dollars. "McClatchy remains a strong operating company with an enduring commitment to indepe...

Huawei Exec Arrested in Canada, Can Extradite to US

12Jan By Press Trust of IndiaNo Comments

USA

Huawei Exec Arrested in Canada, Can Extradite to US

Montreal, Jan 12, 2020: Canada Department of Justice said a Huawei executive arrested in Vancouver could be extradited to the United States, because her offense is a crime in both countries, according to documents released Friday. Huawei chief financial officer Meng Wanzhou, who was originally detained on a US warrant in late 2018, faces an extradition hearing in Vancouver that begins on January 20. The United States accuses Meng of lying to banks about violating Iran sanctions. However Meng''s lawyers maintain that she cannot be turned over to the United States, because in order for that to happen, her offense would have to meet a "double criminality" standard -- meaning it is a crime in both countries. Violating US sanctions against Iran, they say, is not a crime in Canada. ...

US Online Sales Set to Hit New Record on ‘Cyber Monday’

2Dec By PriyankaNo Comments

USA

US Online Sales Set to Hit New Record on ‘Cyber Monday’

US online sales are set to hit a new record on this week's 'Cyber Monday', Adobe Analytics said, as e-commerce outlets gear up to lure shoppers in the opening days of the holiday season. Internet purchases are expected to reach USD 9.4 billion, a jump of nearly 19 percent over last year's record-setting USD 7.9 billion take, according to a Sunday estimate from the company, which measures transactions from 80 of the 100 largest US online retailers. US merchants have long viewed the days after the Thursday Thanksgiving holiday as a prime time to part shoppers from their money, particularly during the 'Black Friday' sales following the holiday. This year's expected record-setting shopping comes as Price Waterhouse Cooper found for the first time that a majority of people surveyed sa...

Spending on U.S. Credit, Debit, and Prepaid Cards to Top $10 trillion

12Nov By PriyankaNo Comments

USA

Spending on U.S. Credit, Debit, and Prepaid Cards to Top $10 trillion

CARPINTERIA, Calif., Nov. 11, 2019- Spending for goods and services initiated by credit, debit, and prepaid cards issued in the United States, which totaled $7.266 trillion in 2018, is projected to reach $10.086 trillion in 2023 according to statistics released this week from The Nilson Report, the leading card, and mobile payment industry trade publication. At the end of 2018, there were 6.96 billion credit, debit, and prepaid cards in circulation in the U.S. That total is expected to reach 8.02 billion at the end of 2023. "When nearly 7 billion payment cards generate more than $7 trillion in purchases of goods and services…you have to conclude the state of the card business is very good," said David Robertson, Publisher of The Nilson Report. Credit cards accounted for 54.17% o...

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

29Oct By Press Trust of IndiaNo Comments

USA

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

The Pentagon has awarded Microsoft a USD 10 billion cloud computing contract called JEDI. The contentious bidding process for the contract pitted Microsoft, Amazon, and Oracle, among others, against one another. Bidding for the huge government contract has attracted more attention than usual, sparked by speculation early in the process that Amazon would be awarded the deal. Tech giants Oracle and IBM pushed back with their own bids. Oracle also challenged the bid process in federal court but lost. The resulting system will store and process vast amounts of classified data, allowing the US military to use artificial intelligence to speed up its war planning and fighting capabilities. The Department of Defence emphasized in an announcement that the process was fair and followed ...

Alphabet Drone Service Wing Launched First Commercial Delivery in USA

19Oct By AdityaNo Comments

USA

Alphabet Drone Service Wing Launched First Commercial Delivery in USA

Alphabet owned drone firm Wing started first commercial drone delivery in the Christiansburg, Virginia. With an expanded Air Carrier Certificate from the Federal Aviation Administration (FAA), Wing today became the first company to operate a commercial air delivery service via drone directly to homes in the United States. Wing’s FAA permissions are the first to allow multiple pilots to oversee multiple unmanned aircraft making commercial deliveries simultaneously to the general public, paving the way for the most advanced drone delivery service in the nation. Wing collaborates with logistics services like FedEx Express, Walgreens, and local Virginia retailer Sugar Magnolia in the United States to offer this form of local air delivery to customers. FedEx is completing the fi...

California Launched Early Warning Earthquake app

18Oct By PriyankaNo Comments

USA

California Launched Early Warning Earthquake app

California on Thursday launched the country's first earthquake warning system in the hope that residents will be alerted within seconds of a possible impending disaster and can "drop, cover and hold on. The app created by the University of California, Berkeley, and unveiled on the 30th anniversary of the deadly Loma Prieta quake, uses ground motion sensors located across the state to detect the start of earthquakes before humans can feel them. "Nothing can replace families having a plan for earthquakes and other emergencies," Governor Gavin Newsom said in unveiling the warning system. "And we know the Big One might be around the corner. I encourage every Californian to download this app and ensure your family is earthquake ready." The cellphone app called MyShake can provide p...

Apple Produce Future Mac Pro in US, Shift base from China

24Sep By AnkitaNo Comments

USA

Apple Produce Future Mac Pro in US, Shift base from China

Apple would keep making its Mac Pro in the United States, after obtaining tariff exemptions for some components in the high-end computers. The California tech giant said it would keep production of the Mac Pro a computer costing some $6,000 in Austin, Texas, following reports it was considering moving the manufacturing from China. Apple said the decision came after the company obtained "a federal product exclusion" from tariffs "for certain necessary components" for the computers. The news comes despite comments from President Donald Trump in July that he would oppose waiving tariffs on components for Apple's devices, commenting in a tweet, "Make them in the USA, no Tariffs." Apple chief executive Tim Cook said in a statement, "the company is proud to be building the new Mac ...

21Sep By AnkitaNo Comments

USA

Milestone: OYO Opens 100 Hotels in USA

OYO Hotels & Homes, the world’s third-largest and fastest-growing hotel chain, is excited to announce hitting the milestone of more than 100 hotels in the USA. This is a major landmark for the young hotel startup and a testament to how the company is continuing to maintain its growth momentum. Since formally announcing its presence in the U.S. market in June, it has established itself in more than 60 cities, almost quadrupling its previous portfolio in a short span. The company’s recent foray into Las Vegas, through the partnership with Highgate, to open the doors to its first 657 room flagship OYO Hotel & Casino, has been a key milestone in its growth journey. OYO Hotels & Homes committed $300 million as an initial investment in the U.S. fueling its rapid grow...

Uber, Lyft & Doordash Threatened to Spend $90M on California ballot fight

30Aug By AdityaNo Comments

USA

Uber, Lyft & Doordash Threatened to Spend $90M on California ballot fight

Uber, Lyft and DoorDash threatened to spend $90 million on a California ballot measure if they can't reach a deal with unions and lawmakers on legislation that would change the rights of their drivers and other so-called gig workers. "We remain focused on reaching a deal, and are confident about bringing this issue to the voters if necessary," Adrian Durbin, senior director of communications at Lyft, said in a statement. The companies' team-up comes as California lawmakers debate a bill that would make it harder to classify workers as independent contractors instead of employees. As employees, workers are entitled to more wage protections and benefits. But the ridesharing and on-demand delivery companies say labeling workers as such would upend their business model built around d...

Caribu’s New Funding round Passes Neil Patel’s 1000X Formula

27Aug By AnkitaNo Comments

USA

Caribu’s New Funding round Passes Neil Patel’s 1000X Formula

MIAMI-- Caribu is on a mission to better connect young children with their parents and grandparents by allowing them to read and draw together in an interactive video-call, no matter how far apart they are. By opening up an equity crowdfunding campaign this summer on Wefunder, a leading investment platform that only accepts the top 1-2% of startups, Caribu has allowed customers and community members to join their mission. Neil Patel, one of today's most successful angel investors, developed a "1,000X Formula" for finding the most successful startup investments the ones with unicorn potential. Today, we announce that Caribu has been selected as one of a handful of companies to pass Neil Patel's 1000X formula. Angel investing used to be off-limits to the average American… but Shark...

Huawei threat to national security, US not going to do business with them: Trump

10Aug By AnkitaNo Comments

USA

Huawei threat to national security, US not going to do business with them: Trump

Washington: US President Donald Trump on Saturday said America will not do any business with Chinese tech giant Huawei. The Trump administration believes that giving access to the state-controlled Huawei on 5G would risk America's national security. As such the US is not only denying Huawei access inside the country but also is asking other countries to follow suit. "We're not going to do business with Huawei. We're not doing business with them. And I really made the decision," Trump told reporters at the White House. "It's much simpler not to do any business with Huawei. So, we're not doing business with Huawei. That doesn't mean we won't agree to something if and when we make a trade deal, but we're not going to be doing business with Huawei," he added. US Senator Marco Rubi...