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12Aug By AnkitaNo Comments

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Tesla Electric Car Explodes in Russia

A Tesla electric car caught fire on a Moscow motorway late on Saturday. Footage of the incident on state TV channel Rossia 24 showed the car by the side of the road engulfed in flames and thick black smoke. Two small explosions occurred within a few seconds of each other. It was not possible to tell which Tesla model the car was and only the metal frame remained after the fire. Tesla Inc stood by safety claims for its Model 3 earlier this week in the face of regulatory scrutiny, while documents showed the top U.S. automotive safety watchdog issued at least five subpoenas since last year seeking information about crashes involving the company's vehicles. The state-run RIA news agency website posted a video showing the car driving in the left-hand lane of Moscow's ring road, known a...

Uber Posted Huge $5 Billion Loss, Share down 6 Percent

9Aug By AdityaNo Comments

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Uber Posted Huge $5 Billion Loss, Share down 6 Percent

Cab aggregator service Uber posted a record $5.2 billion loss in the second quarter report, as growth in its core ride-hailing service got slow. After the announcement of Second-quarter results, Uber shares down 6%. Uber’s second-quarter net loss, widening from a loss of $878 million a year earlier, included $3.9 billion of stock-based compensation expenses related to its IPO earlier this year and nearly $300 million in “driver appreciation” related to the stock sale. The second-quarter report caught Uber investors off guard because Uber’s rival Lyft had raised revenue expectations and described an easing price war. “Our platform strategy continues to deliver strong results, with trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of l...

9Aug By PriyankaNo Comments

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Facebook Offering Millions for News Publishing

Facebook is reportedly in talks with news publishers to offer "millions of dollars" for the rights to publish their material on its site. The move follows years of criticism over its growing monopolization of online advertising to the detriment of the struggling news industry. The Wall Street Journal reported Thursday that Facebook representatives had told news executives that they'd pay as much as USD 3 million a year to license stories, headlines, and other material. Facebook declined to comment but confirmed that the company is working on launching a "news tab" for its service this fall. Facebook CEO Mark Zuckerberg began talking about a news section on the service in April. A person familiar with the matter confirmed that Facebook has approached News Corp. about paying to lic...

8chan founder blasts over Website shutdown

7Aug By PriyankaNo Comments

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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 conso...

Walmart owned Flipkart will Launch its own Video Streaming Platform

6Aug By PriyankaNo Comments

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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 spen...

Jeff Bezos sells Amazon shares worth $2.8 billion

6Aug By PriyankaNo Comments

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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/n...

Chinese App Truecaller Automatically Sign in Indian Users UPI account

31Jul By NitishNo Comments

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Chinese App Truecaller Automatically Sign in Indian Users UPI account

Chinese app Truecaller, which tells users identity and has over 100 million active users in India affected UPI-based digital payments service. The bug was automatically enrolling Truecaller users in the country to use unified payments interface (UPI) payment feature on the app. Truecaller apologised for failing to deliver quality standard in the app and said it has discontinued the version which was hit by the bug but "for the users already affected, the new version with the fix will be available shortly". The mobile directory app said the users who have been hit by the bug can choose to manually deregister through the overflow menu in the app. "We have discovered a bug in the latest update of Truecaller that affected the payments feature, which automatically triggered a regis...

India’s leading Coffee Chain Cafe Coffee Day founder dead body found

31Jul By AnkitaNo Comments

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India’s leading Coffee Chain Cafe Coffee Day founder dead body found

The dead body of Cafe Coffee Day founder V G Siddhartha, who went missing, was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search, officials said. The body had washed ashore near Ullal and was fished out by local fishermen. Founder friends and relatives have confirmed that the body is of Siddhartha. Earlier, police said the body, which appeared to be of Siddhartha, was yet to be identified by his family. "A body has been found, which appears to be of him. Final confirmation has to be done by the family," deputy commissioner of Dakshina Kannada district Sasikanth Senthil told. Mangalore Commissioner of Police Sandeep Patil said the body has been kept at Wenlock Hospital for further formalities. Siddhartha, the ...

Cafe Coffee Day founder goes missing, Commits Suicide

30Jul By AnkitaNo Comments

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Cafe Coffee Day founder goes missing, Commits Suicide

Cafe Coffee Day founder V G Siddhartha was reported to have gone missing after he left from Bengaluru on Monday night, police said. Siddhartha, the son-in-law of former Karnataka chief minister S M Krishna, was headed for Sakaleshpur but on the way, he had asked his driver to go towards Mangaluru, according to the police. On reaching a bridge over the Netravati river in the Kotepura area in Dakshina Kannada district, he got down from the car and told his driver that he was going for a walk. "He (Siddhartha) asked the driver to wait until his arrival. When he did not return even after two hours, the driver approached the police and lodged a missing complaint," deputy commissioner of Dakshina Kannada district Senthil Sasikant Senthil told Pixr8 News. More than 200 policemen and d...

Flipkart Launched offline Furniture Store in Bengaluru

30Jul By PriyankaNo Comments

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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 custom...

Grab invests $2 billion in Indonesia through Softbank Vision Fund

29Jul By PriyankaNo Comments

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Grab invests $2 billion in Indonesia through Softbank Vision Fund

Ride-hailing giant Grab is investing USD 2 billion in Indonesia over the next five years, using funds from Japan's SoftBank Group to boost its presence in Southeast Asia's biggest economy. The Singapore-based firm has seen its business grow rapidly since it bought US-based rival Uber's regional ride-hailing and food business in March last year in exchange for a 27.5 percent stake in Grab. Its Indonesian investment will focus on building a next-generation electric vehicle transport network and rolling out e-healthcare services to improve access to doctors and medical services across the archipelago. The announcement came after SoftBank last week said it would partner with tech firms including Apple and Microsoft in a new $108 billion investment fund. It is the long-mooted succes...

eBay draws new Logistics plan to fight against Amazon

26Jul By AnkitaNo Comments

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eBay draws new Logistics plan to fight against Amazon

SAN FRANCISCO: Online retail giant eBay plans its own managed delivery for sellers through its platform to compete with Amazon prime service and boost its brand recognition. The new service will result in "hundreds of millions of eBay-branded boxes and packages being placed on front porches across the United States within the next few years," the company statement said. The move by eBay comes with Amazon growing its base of third-party sellers for its Prime subscription service that offers same day delivery. "These branded packages will not only deliver a better shopping experience for customers, but materially enhance eBay's brand identity as a popular consumer shopping destination." The new service will allow sellers to store inventory closer to buyers in warehouses across t...