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19Feb By AnkitaNo Comments

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Facebook blocks News Sharing in Australia

Canberra, Feb 19th, 2021: Social media giant Facebook blocked Australians from sharing news on its social media after the Australian govt move to make a law to pay for news. A move by facebook criticized by a Australian minister who called it “an assault on a sovereign nation” and abuse of power. Australia's government condemned the decision, which also prevented some government communications, including messages about emergency services, as well as some commercial pages. The digital platforms fear that what's happening in Australia will become an expensive precedent that larger countries will follow. Facebook took drastic action because the House of Representatives passed legislation that would make Facebook and Google pay for Australian journalism, said Treasurer Josh Frydenbe...

16Feb By reutersNo Comments

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Adidas plans to sell Reebok Brand

BERLIN, Feb 16, 2021 (Reuters) - German sportswear maker Adidas plans to sell or spin-off its underperforming Reebok brand, 15 years after it bought the U.S. fitness label to help compete with arch-rival Nike Inc. Adidas said on Tuesday it had decided to begin a formal process aimed at divesting Reebok as part of a five-year strategy it plans to present on March 10, when the company will also publish 2020 results. It will report Reebok as a discontinued operation from the first quarter of 2021. A banking source said the business could be worth around 1 billion euros ($1.2 billion). "Reebok and Adidas will be able to significantly better realize their growth potential independently of each other," Chief Executive Kasper Rorsted said in a statement . The company bought Boston-bas...

Tunedly Pens A Global Administration Deal with Spirit Music Group

6Feb By PriyankaNo Comments

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Tunedly Pens A Global Administration Deal with Spirit Music Group

New York, Feb 6th, 2021: Tunedly, a spearheading online music production and publishing resource that has supported over 1,000 artists and 5,500 projects internationally since launching in 2015, has inked a global administration deal with Spirit Music Group. Branded as one of the world’s leading independent music publishers, Spirit Music Group is offering Tunedly full music catalog administration within this new partnership, unlocking a new level of growth opportunities for independent songwriters and music creators on a global scale. About Tunedly Tunedly is a musician and music manager owned online music recording studio that has created a reputable foundation for itself within the industry. From 2015 to now, they have and still are, optimally servicing individuals of ever...

Jeff Bezos will step down as CEO of Amazon

3Feb By AnkitaNo Comments

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Jeff Bezos will step down as CEO of Amazon

New York, Feb 3, 2021: World's leading eCommerce platform Amazon.com Founder & CEO Jeff Bezos will step down later this year as CEO to become executive chairman. Acted as a CEO for 30 years Bezos will be replaced by Andy Jassy, who runs Amazon's cloud-computing business. Under the leadership of Andy Jassy Amaozn cloud-computing business powers video-streaming site Netflix and many other companies, and it has become Amazon's most profitable business. In a blog post to employees, 57-year-old Bezos said, he planned to focus on side projects, including his space exploration company Blue Origin, his philanthropic initiatives, and overseeing The Washington Post, which he owns. “Jeff is really not going anywhere," Amazon's Chief Financial Officer Brian Olsavsky said in a call with...

Australian PM says Bing could replace Google

1Feb By AnkitaNo Comments

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Australian PM says Bing could replace Google

Canberra, Feb 1, 2021: (AP) The Australian prime minister said that Microsoft was confident that it could fill the void if Google carried out its threat to remove its search engine from Australia. A Google executive told a Senate hearing last month that it would likely make its search engine unavailable in Australia if the government went ahead with plans to make tech giants pay for news content. Prime Minister Scott Morrison said he had since spoken to Microsoft chief executive Satya Nadella about its search engine Bing filling the space. “I can tell you, Microsoft''s pretty confident” that Australians would not be worse off, Morrison told the National Press Club of Australia. “These are big technology companies and what's important to Australia, I think, is that we set the ru...

Billionaire Mark Cuban Launches Generic Drug Company Cost Plus

25Jan By AdityaNo Comments

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Billionaire Mark Cuban Launches Generic Drug Company Cost Plus

Entrepreneur & Investor Mark Cuban has launched a low cost generic drug company called the Mark Cuban Cost Plus Drug Company. According to the company, its first product which is Albendazole, an antiparasitic drug that currently has a market price of approximately $225 per tablet is going to cost only $20 per tablet in retail price. The Mark Cuban Cost Plus Drug Company will make and distribute the Albendazole drug approximately $13.00 per tablet added with 15% profit margin. So the final cost for a wholesale price to pharmacies, clinics, hospitals, etc will be $15 per tablet. "Our low cost albendazole product allows physicians to affordably treat hookworm outbreaks throughout America that were previously too expensive to treat systemically before.", the company said...

Walmart Launch Fintech Startup in partnership with Ribbit Capital

18Jan By AnkitaNo Comments

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Walmart Launch Fintech Startup in partnership with Ribbit Capital

BENTONVILLE, Ark., 18th Jan 2021-- Walmart announced the creation of a new fintech startup in a strategic partnership with leading fintech investment firm Ribbit Capital. The venture will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates. “For years, millions of customers have put their trust in Walmart to not only save them money when they shop with us but help them manage their financial needs. And they’ve made it clear they want more from us in the financial services arena,” said John Furner, President and CEO, Walmart US. “We’re thrilled to work with Ribbit Capital in a new venture to help us deliver innovative and needed options to our customers and asso...

Elon Musk Foundation donates $5 million to Khan Academy

14Jan By AnkitaNo Comments

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Elon Musk Foundation donates $5 million to Khan Academy

World's richest person and Tesla's co-founder Elon Musk donated $5 million to the American non-profit educational organisation Khan Academy through his Musk Foundation. Khan Academy founder Sal Khan announced this news in a video posted on Twitter. Sal khan said he wants to give a huge shout and thank you to Elon Musk and everyone at the Musk foundation. "Thank you @elonmusk and @MuskFoundation for an incredible $5m donation to @khanacademy," he said. Elon Musk, along with his brother Kimbal, founded this NGO in 2002 which donates and support in several areas, including education, renewable energy research, human space exploration research, pediatric research etc. Founded in 2008, Khan Academy has 120 million registered users and 20 to 30 million students are using the platform...

Google wins EU antitrust nod for $2.1 billion Fitbit deal

17Dec By reutersNo Comments

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Google wins EU antitrust nod for $2.1 billion Fitbit deal

17th December 2020: Alphabet's Google won EU antitrust approval on December 17 for its $2.1 billion bid for Fitbit after agreeing on restrictions on how it will use customers' health-related data. The deal had triggered criticism from privacy advocates on both sides of the Atlantic, consumer organisations and Google rivals about the company's market power and the use of people's health data in targeted advertising. Fitbit, once the leader in the wearable devices market, has lost market share to Apple, Xiaomi, Samsung and Huawei in recent years. The European Commission said it had agreed concessions with Google, valid for 10 years with the possibility of another 10-year extension, addressing competition concerns, confirming a Reuters story in October. Google will store Fitbit us...

Mastercard may have to pay $18.5 billion in a Lawsuit

15Dec By AdityaNo Comments

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Mastercard may have to pay $18.5 billion in a Lawsuit

London, Dec 15, 2020 (AP): Mastercard could have to pay U.K. consumers as much as 14 billion pounds (USD 18.5 billion) after the country's Supreme Court allowed a class-action lawsuit against the credit card company to move forward. The Supreme Court on Friday ordered a competition tribunal to reconsider its decision to block a lawsuit alleging that Mastercard overcharged businesses that accepted the company''s credit and debit cards. These fees were then passed on to consumers in the form of higher prices, the suit claims. Mastercard does not accept that merchants passed on all or any part of any overcharge to their customers. The Competition Appeal Tribunal must now reconsider its refusal to certify the lawsuit as a “collective proceeding.” Certification is required before mass ...

US Govt Filed Antitrust Lawsuits Against Facebook For Crushing Smaller Competitors

11Dec By AdityaNo Comments

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US Govt Filed Antitrust Lawsuits Against Facebook For Crushing Smaller Competitors

Washington, Dec 10, 2020: The US government and 48 states have filed parallel antitrust lawsuits against Facebook, accusing the social media giant of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors, a move which may force it to sell WhatsApp and Instagram. Soon after the Federal Trade Commission (FTC) and 48 state attorney generals sued the California-headquartered company, Facebook shares fall significantly. The bipartisan coalition led by New York attorney general Letitia James alleged that Facebook has engaged in a systematic strategy to eliminate threats to its monopoly. This includes its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp and the imposition of anti...

Shopify Merchants Cash In Record $5.1+ Billion in Holiday Sales Worldwide

1Dec By AdityaNo Comments

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Shopify Merchants Cash In Record $5.1+ Billion in Holiday Sales Worldwide

OTTAWA, Ontario, 1st December 2020-- Shopify Merchants cash in $5.1+ billion in global sales of Black Friday through Cyber Monday. The total sales grew by 76% from the $2.9+ billion reported for Black Friday/Cyber Monday weekend in 2019. In this record-setting weekend, shopify retailers daily total sales increasing 19 days before Cyber Monday, nearly two weeks earlier than previous years. In fact, in the week leading up to Cyber Monday, from November 23 through November 30, sales increased by 84% from 2019. “This has been a transformative year for commerce globally,” said Harley Finkelstein, President of Shopify. “The record sales we saw on Shopify over Black Friday/Cyber Monday weekend demonstrate the power of the independent and direct-to-consumer businesses on our platform. With t...