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Amazon Facing Heat in UK Over Acquisition of Deliveroo

13Dec By PriyankaNo Comments

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Amazon Facing Heat in UK Over Acquisition of Deliveroo

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. Amazon is interested in investing in Deliveroo to give it a larger stake in the fast-growing restaurant delivery business. If the deal were to proceed in its current form, there's a real risk that it could leave customers, restaurants and grocers facing higher prices and lower quality services as these markets develop," said Andrea Gomes da Silva, the authority's executive director...

Security Flaw in Airtel app exposes Customers Data, Fixed Now

9Dec By Press Trust of IndiaNo Comments

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Security Flaw in Airtel app exposes Customers Data, Fixed Now

An independent cyber security researcher found technical flaws in an application of Bharti Airtel that exposed "sensitive user information" which the company claims to have fixed now. According to the cyber security researcher Ehraz Ahmed the flaw existed in one of the Airtel app that allows "to fetch sensitive user information of any Airtel subscriber.""It revealed information like first and last name, gender, email, date of birth, address, subscription information, device capability information for 4G, 3G & GPRS, network information, activation date, user type (prepaid or postpaid) And current IMEI number," Ahmed said in his blog. The IMEI number is a unique number that can be used to identify the device of the user. "Every user that is on India's Airtel network was at risk ...

HuffPost Closes North Africa Edition after 6 Years of Launch

4Dec By PriyankaNo Comments

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HuffPost Closes North Africa Edition after 6 Years of Launch

The North Africa edition of US news site HuffPost, covering Morocco, Tunisia, and Algeria, announced its closure, six years after it launched. "As of December 3rd, HuffPost Maghreb will no longer be publishing content," the site's homepage read, inviting readers to visit the US version. HuffPost Maghreb was the first version of HuffPost formerly Huffington Post to cater specifically to an African audience. Launched in the United States in 2005 and since rolled out in several other countries, HuffPost has since 2015 been owned by US telecoms firm Verizon. The North African version had offices in Rabat, Tunis and Algiers, and posted content written by its own teams and outside contributors in a blog section. No explanation was given for the closure apart from it "based on stra...

Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

4Dec By AdityaNo Comments

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Larry Page, Sergey Brin step down; Sundar Pichai promoted as Alphabet CEO

Google's India-born Chief Executive Officer Sundar Pichai will assume the leadership role at its parent firm Alphabet after the internet giant's co-founders Larry Page and Sergey Brin stepped down from its active management, making him one of the most powerful corporate leaders of the world. Page and Brin are stepping down as CEO and president, respectively, of Alphabet, the company announced on Tuesday. Pichai, 47, the current CEO of Google and a longtime executive at the company, will take over as CEO of Alphabet in addition to his current role. Considered as a significant shakeup in the Silicon Valley company, the shuffle comes at a time when Google is facing mounting scrutiny over its size, data privacy practices and potential impact on society. With Alphabet now well-estab...

OYO elevates India & South Asia CEO Aditya Ghosh to Board of Directors

2Dec By Press Trust of IndiaNo Comments

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OYO elevates India & South Asia CEO Aditya Ghosh to Board of Directors

Indian Hospitality firm OYO has elevated Aditya Ghosh, currently chief executive officer (India & South Asia) for the hotels and homes business, as a member of its board of directors. Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India & South Asia) for OYO Hotels & Homes, it added. Ghosh will join OYO Hotels & Homes founder & Group CEO Ritesh Agarwal, Baja Corporation founder & CEO Betsy Atkins and other industry experts like Munish Varma, Bejul Somaia and Mohit Bhatnagar, among others, on the company’s board, OYO Hotels & Homes said in a statement. In his role on the board, Ghosh will focus on five key areas namely, safety and security, customer experience, corporate governance, revenue manage...

TikTok Apologises for Removing Viral Xinjiang Clip

28Nov By AnkitaNo Comments

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TikTok Apologises for Removing Viral Xinjiang Clip

Chinese-owned app TikTok admitted that it briefly removed a viral video that condemned Beijing's crackdown on Muslims in Xinjiang and apologized to the US teen who posted the clip. In a post that has now been seen 1.6 million times, Feroza Aziz begins talking about eyelash curling but quickly switches to decrying China's mass detention of ethnic Uighurs and other minorities in its far northwest. Aziz said this week that she had been blocked from posting on the app for a month after uploading the clip, then noted on Twitter on Wednesday that the video had been taken down. As her posts on various platforms racked up millions of combined views, TikTok, which has previously been accused of censoring content that Beijing does not like, insisted it had not blocked her and that her video...

Razorpay Offers ESOP Buyback for Second Time in a Year

14Nov By AdityaNo Comments

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Razorpay Offers ESOP Buyback for Second Time in a Year

Razorpay, India’s first converged payments solution company announced the implementation of the second ESOP Buyback plan for its employees, both existing and former. All existing and former employees who hold vested stocks will be eligible to sell up to 30% of their vested ESOP shares of the company. Sequoia India and Ribbit Capital, two of Razorpay’s key investors will be the buyers at a premium. While ESOP Buybacks have been part of employee welfare in larger organisations, the startup industry particularly in India, has started to see these developments since recently. This depicts the healthy growth that the startup ecosystem has been witnessing. Razorpay’s 600 people team raised their Series-C funding in June this year and the ESOP Buyback plan is a reflection of the f...

Facebook Launched Unified Payment System for Messenger, Instagram, WhatsApp

13Nov By AdityaNo Comments

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Facebook Launched Unified Payment System for Messenger, Instagram, WhatsApp

San Francisco, Nov 12: Zuckerberg led Facebook said it is consolidating the system that handles payments at the social network and in its family of messaging apps. The move comes in a climate of political rhetoric that includes calling for the California-based internet company to be broken up. Transactions such as payments or donations at Messenger, Instagram, WhatsApp or the main social network will eventually be handled by a unified Facebook Pay system, according to marketplace and commerce vice president Deborah Liu. "People already use payments across our apps to shop, donate to causes and send money to each other," Liu said in an online post. "Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected." Fac...

Uber CEO Criticize After Calling Jamal Khashoggi Murder a Mistake

12Nov By AnkitaNo Comments

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Uber CEO Criticize After Calling Jamal Khashoggi Murder a Mistake

Uber CEO Dara Khosrowshahi is being criticised for calling the murder of a Washington Post columnist "a mistake" and comparing it to the death of a pedestrian struck by one of the company's autonomous vehicles. Khosrowshahi later said he regretted his comments, made during an interview with Axios on HBO. He tweeted Monday that there's no forgiving or forgetting what happened to the journalist Jamal Khashoggi and he was wrong to call it a mistake. Critics say Khosrowshahi is downplaying Khashoggi's grisly murder to placate one of the company's biggest investors. Saudi Arabia's sovereign wealth fund, known as The Public Investment Fund, holds about USD 1.9 billion worth of Uber stock, making it the company's fifth largest stakeholder. Its managing director, Yasir Al-Rumayyan, sits o...

Microsoft Says Working 4 days in a Week Increases Productivity

5Nov By AdityaNo Comments

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Microsoft Says Working 4 days in a Week Increases Productivity

In a country notorious for overwork, Microsoft Japan trialled a radical idea 'working less'. And it found that four-day weeks and other reforms both boosted sales and cut costs. The Japanese unit of the US IT giant closed its offices every Friday in August, giving all 2,300 full-time workers special leave. It also restricted meetings to a maximum of 30 minutes and encouraged online chats as an alternative to face-to-face communications. The number of participants at meetings was limited to five, and workers were also encouraged to use online communication instead of emails, it said. The results were positive, with sales per employee rising almost 40 per cent in August from a year earlier, electricity consumption down by a quarter and paper usage being cut in half. The firm s...

5Nov By AdityaNo Comments

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Uber Loss Widens amid Costs Rise

5th Nov 2019, California- Cab aggregator firm Uber posted a third-quarter result which shows the loss of the company widens in each quarter of 2019. The reason for these losses is deep discounts and invests heavily in loss-making new business ventures, said the ride-hailing company. After the announcement of third-quarter results, Uber shares drop 5.5% in after-hours trading. However, Uber said it would be profitable by the end of 2021 as quarterly revenues, driven by its global ride-hailing business, beat expectations. Uber Chief Executive Dara Khosrowshahi told Pixr8 News, "the company as a whole would achieve adjusted EBITDA profitability for the full year of 2021, but declined to provide details on the performance of individual business units by that time." As per the ...

McD CEO Fired Over Relationship With Employee

4Nov By PriyankaNo Comments

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McD CEO Fired Over Relationship With Employee

McDonald's chief executive officer has been pushed out of the company after violating company policy by engaging in a consensual relationship with an employee, the corporation said. McDonald said former president and CEO Steve Easterbrook demonstrated poor judgment, and that McDonald's forbids managers from having romantic relationships with direct or indirect subordinates. In an email to employees, Easterbrook acknowledged he had a relationship with an employee and said it was a mistake."Given the values of the company, I agree with the board that it is time for me to move on,". McDonald's board of directors voted on Easterbrook's departure after conducting a thorough review. Details of Easterbrook's separation package will be released Monday in a federal filing, according to a c...