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Tata Group likely to takeover of iPhone maker plant Wistron

11Jan By AnkitaNo Comments

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Tata Group likely to takeover of iPhone maker plant Wistron

Bengaluru, 11th Jan 2023- Tata Group succeeding with its bid to take over an iPhone assembly plant in Bengaluru, India. That would give a boost to the country’s ambitions to become an electronics manufacturing hub. The $128 billion Tata Group has been in talks for months with Apple Inc.’s Taiwanese supplier Wistron Corp. and is looking to seal the purchase of its assembly factory near Bangalore by the end of March. The salt-to-airline conglomerate has been expanding its presence in technology, and India’s government has taken steps to challenge China’s dominance in electronics. As per the discussions, Tata Group is likely to oversee the main manufacturing operation, with support from Wistron. It may be noted that neither Tata Group or Wistron Corp has given any public statements reg...

Facebook Agreed to Pay $725 million to settle Cambridge Analytica Case

27Dec By AnkitaNo Comments

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Facebook Agreed to Pay $725 million to settle Cambridge Analytica Case

California, 25th Dec, 2022: World's leading social media platform Facebook has agreed to pay $725 million to settle a lawsuit alleging that facebook allowed sharing of millions of its users' personal information to Cambridge Analytica. Terms of the settlement reached by Meta Platforms, the holding company for Facebook and Instagram, were disclosed in court documents filed late Thursday. It will still need to be approved by a judge in a San Francisco federal court hearing set for March. The case sprang from 2018 revelations that Cambridge Analytica, a firm with ties to Trump political strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million users of the platform. That data was then used to target U.S. Voters during the 2016...

New Jersey based Crypto firm BlockFi files for bankruptcy

29Nov By NitishNo Comments

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New Jersey based Crypto firm BlockFi files for bankruptcy

NJ, USA, 29th Nov, 2022: New Jersey-based crypto lending platform filed for Chapter 11 bankruptcy protection, the latest down crypto firm after collapse of crypto exchange FTX. BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX's own bankruptcy, however sealed BlockFi's financial future. BlockFi suspended withdrawals after FTX's failure, and it had hired bankruptcy specialists in recent days. FTX's financial rescue package was no longer available to BlockFi once it ran into its own financial trouble, and BlockFi said any attempts to get additional funds in the days before the bankruptcy were not honored. BlockFi was one of several crypto currency lenders to pop up in recent years. The company gave loans...

Berkshire Shareholders will keep Warren Buffett as chairman

5May By PriyankaNo Comments

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Berkshire Shareholders will keep Warren Buffett as chairman

5/5/2022, NY, CALF: In a filling on Wednesday, Berkshire Hathaway Inc. mentioned that shareholders vote to keep Warren Buffett both chairman and chief executive. The proposal, which called for an independent chair, received only 54,425 votes (about 11%) to 448,868 against (89%), according to the filing. In the form 8k, all other 14 Berkshire directors including Buffett; Vice Chairmen Charlie Munger, Greg Abel and Ajit Jain; and lead independent director Susan Decker won reelection with more than 86 per cent of votes cast. The Company has also received a letter from the NYSE that acknowledged that the Company is back in compliance with the continued listing standards establishing a majority of independent directors on its board. Buffett, 91, became CEO of Berkshire in 1965, and ha...

Elon Musk and Twitter Closes deal for $44 billion

25Apr By AnkitaNo Comments

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Elon Musk and Twitter Closes deal for $44 billion

Twitter is in advanced discussions to sell itself to Elon Musk and could finalize a deal today on Monday, people familiar with the matter said. The two sides worked through out the night to get out a deal that would be valued at $54.20 a share, or $44 billion, the people said. Assuming there isn’t a last-minute snag, the deal is expected to be announced after the market closes on Monday. It’s not clear why the total value of the deal has increased slightly from prior expectations, but it could be related to an updated share count. Elon Musk on April 14 offered a bid to buy the company without saying how he would pay for it, calling it his "best and final" offer. Twitter had been expected to rebuff the offer, and put in place a so-called poison pill to block him from increasing hi...

Peter Thiel to Retire from Meta Board of Directors

8Feb By PriyankaNo Comments

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Peter Thiel to Retire from Meta Board of Directors

MENLO PARK, Calif., Feb. 8, 2022-- Meta (NASDAQ: FB) announced today that Peter A. Thiel, Partner at Founders Fund and PayPal co-founder, has decided not to stand for re-election to the Board of Directors of the Company at the Company's 2022 Annual Meeting of Stockholders. Thiel has been a member of the company's board of directors since 2005 and will continue to serve as a director until the date of the Annual Meeting. Mark Zuckerberg, Meta founder and CEO, said: "Peter has been a valuable member of our board and I'm deeply grateful for everything he has done for our company -- from believing in us when few others would, to teaching me so many lessons about business, economics, and the world. Peter is truly an original thinker who you can bring your hardest problems and get unique sug...

Parag Agrawal New CEO of Twitter, Jack Dorsey Steps Down

30Nov By AdityaNo Comments

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Parag Agrawal New CEO of Twitter, Jack Dorsey Steps Down

SAN FRANCISCO, Nov. 29, 2021-- Twitter, Inc. (NYSE: TWTR) announced that Jack Dorsey has decided to step down as Chief Executive Officer and that the Board of Directors has unanimously appointed Parag Agrawal as CEO and a member of the Board, effective immediately. Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders. Bret Taylor was named the new Chairman of the Board, succeeding Patrick Pichette who will remain on the Board and continue to serve as chair of the Audit Committee. Agrawal has been with Twitter for more than a decade and has served as Chief Technology Officer since 2017. "I've decided to leave Twitter because I believe the company is ready to move on from its founders. M...

Facebook changes its name and what it means for our future

25Nov By PriyankaNo Comments

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Facebook changes its name and what it means for our future

California, 24th Nov 2021: Facebook Inc. is now officially named Meta Platforms Inc., or simply: Meta. The company owned by Mark Zuckerberg is undergoing a rebrand that will shift the core business of the social media giant into a new realm that will begin to develop an industry forged in the concept of the Metaverse. The Metaverse is a relatively new concept that’s beginning to gain momentum in the technological and innovational agendas. The metaverse refers to the digital and virtual environments that are ever-present in our daily activities that involve entertainment, work, or even dating. When you log in to your gaming console to play GTA Online, you’re entering the metaverse. When you join a Teams meeting, you’re also making use of the metaverse, and when you chat online thru d...

26Aug By NitishNo Comments

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Apple launched News Partner Program to support Journalism

CUPERTINO, Calif., 26th Aug 2021-- Apple introduced the News Partner Program to expand Apple’s work with and support for journalism. The News Partner Program aims to ensure Apple News customers maintain access to trusted news and information from many of the world’s top publishers. The News Partner Program is designed for subscription news publications that provide their content to Apple News in Apple News Format (ANF). ANF enables an exceptional reading experience on Apple News and unlocks the full benefit of the platform for publishers, and empowers publishers to create brand-forward stories, immersive issues, and audio stories, with designs that scale seamlessly across Apple devices. ANF also supports advertising, and publishers keep 100 percent of the revenue from advertising they ...

Facebook offers Loans to Small businesses in India

20Aug By AnkitaNo Comments

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Facebook offers Loans to Small businesses in India

New Delhi, 20 Aug 2021: Facebook India announced an initiative known as the ''Small Business Loans Initiative'' in partnership with Indifi to help small and medium businesses (SMBs) get quick access to credit through independent lending partners. India is the first country for Facebook where this program is getting rolled out. The program is open to businesses registered across 200 towns and cities of India. Through Facebook's partnership with Indifi, small businesses that advertise with Facebook can get loans between Rs 5 lakh ($6,720) to 50 lakh ($67,200) at a predefined interest rate of 17-20 percent per annum, and applicants will not be charged a processing fee. Indifi will also disburse the loan amount within five working days of the borrower completing all documentation for...

3Aug By AdityaNo Comments

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Zoom to Pay $85M for Privacy Violation

California, Aug 3, 2021: Video Conferencing platform Zoom will pay $85 million to settle a lawsuit alleging that weak privacy controls open the personal information of users for outsiders to disrupt video meetings during the start of the pandemic. Millions of people in the U.S. who have used Zoom since March 31, 2020, could be eligible for a slice of the settlement that was reached over the weekend. The payment amounts are expected to average $34 or $35 for those who subscribed to Zoom's paid version, and $11 or $12 for the overwhelming majority who used the free version, based on estimates in court documents. Zoom was bedeviled by security issues early last year after stay-at-home orders transformed the company's videoconferencing service from a niche product into a cultural phenom...

Square launch banking services for Small Businesses

20Jul By AnkitaNo Comments

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Square launch banking services for Small Businesses

SAN FRANCISCO, 21st July 2021-- Square launches Square Banking, a suite of financial products purpose-built to help small business owners easily manage their cash flow and get more out of their hard-earned money. Coming on the heels of Square’s industrial bank, Square Financial Services, beginning operations in March, Square Banking represents a major milestone in Square’s continued efforts to expand access to financial tools for underbanked populations and marks the beginnings of the company’s journey to provide more banking solutions to small businesses. “Small businesses are the heartbeat of our communities and our economy. From our earliest days, Square has focused on building easy-to-use tools and services to empower entrepreneurs to succeed on their own terms,” said Christina...