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Twitter in discussion with TikTok for Acquisition

10Aug By PriyankaNo Comments

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Twitter in discussion with TikTok for Acquisition

New York, 10th Jul 2020: According to a report, the Social media platform Twitter is in discussions for the acquisition of TikTok USA after Microsoft bid. The move of US President Donald Trump said he would ban the app in 45 days creates an opportunity for a platform like Twitter to make big in the current social media war. Trump declared Thursday that the popular Chinese video app TikTok and social network WeChat “threaten the national security, foreign policy, and economy of the United States.” In an executive order, Trump gave Americans 45 days to stop doing business with the platforms, effectively setting a deadline for a sale of TikTok by its Chinese parent firm ByteDance. He has also demanded that a significant portion of the sale go to the US Treasury. Microsoft has ...

Global Remittances could fall $109 billion in 2020 because of COVID-19

3Aug By PriyankaNo Comments

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Global Remittances could fall $109 billion in 2020 because of COVID-19

As per the latest report by the World Bank, due to Covid-19, the Global Remittances could fall by $109bn in 2020. The total value of remittances reached $714 billion in 2019. At least 60 low- and middle-income country's GDP depend on remittances that are the most affected now. Tajikistan and Bermuda, for example, both depend on remittances for more than 30% of GDP. Other heavily-dependent countries include Nepal and Haiti. And the countries which rely on remittances the most often have economies which are already fragile. According to the International Monetary Fund (IMF), this money often helps even out trade deficits and provides a key source of tax revenue particularly in terms of indirect taxes like value-added tax and sales tax. Remittances to Asia and the Pacific, which ...

Flipkart Launch hyperlocal service ”Flipkart Quick”

28Jul By AnkitaNo Comments

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Flipkart Launch hyperlocal service ”Flipkart Quick”

Bengaluru, Jul 28, 2020: Walmart-owned Flipkart announced the launch of its hyperlocal delivery service ''Flipkart Quick'' that will enable customers to receive groceries, fresh vegetables, meat, and mobile phones in 90 minutes. The service will be available in select locations in Bengaluru initially and gradually scaled up and expanded to six large cities by the end of the year, Flipkart Vice-President Sandeep Karwa told Pixr8 News. "Everything which we expect our neighbourhood departmental store to carry is all that we made live. Along with this, we've also announced the launch of our fruits and vegetables, and meats category...we've created a storage space where we've enabled a lot of our sellers to store their inventory," he added. Online grocery delivery has also gained signi...

Netflix Appoint content chief Ted Sarandos as co-CEO, Shares Fall 10%

17Jul By PriyankaNo Comments

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Netflix Appoint content chief Ted Sarandos as co-CEO, Shares Fall 10%

San Francisco, 17th Jul 2020: Online streaming platform Netflix promoted its content chief Ted Sarandos as a co-CEO after it forecast that subscriber growth would slow even more than Wall Street expected during the third quarter, sending its shares tumbling 9.5% to $477.15 in after-hours trading. The move to promote content chief as a co-CEO is a clear indication of a successor to co-founder Reed Hastings. Sarandos will continue his role in leading the content operations. Hastings said the two would each work full time as co-CEOs and that he had no plans to leave the company soon. Netflix also gave Chief Product Officer Greg Peters the additional role of a chief operating officer. Netflix forecast it would add 2.5 million new paid streaming customers around the world in this qu...

14Jul By PriyankaNo Comments

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UK bans Huawei from 5G Network

London, Jul 14, 2020: The UK government banned Huawei from its 5G telecom network, reversing an earlier decision to allow the Chinese tech giant a limited role in building the country's super-fast wireless infrastructure. Huawei will be completely removed from the UK’s 5G networks by the end of 2027, the government announced after a review by the country’s National Cyber Security Centre (NCSC) on the impact of US sanctions against the Chinese telecommunications company. In the lead up to this complete removal of all Huawei kit from UK networks, there will be a total ban on the purchase of any new 5G kit after December 31, 2020. The decision was taken at a meeting of the UK’s National Security Council (NSC) chaired by Prime Minister Boris Johnson, in response to new US sanctions ag...

Alibaba’s Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

13Jul By reutersNo Comments

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Alibaba’s Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion at its current share price, the firm's annual filing released on Friday showed. The divestment comes as Ma retired as the Chinese e-commerce company's executive chairman in September and pulled back from formal business roles to focus on philanthropy. Alibaba did not disclose the average selling price of his divestment. Its share price has risen around 40% since Ma reported his 6.4% holding in the company a year ago. The stock's stellar performance has been helped by forecast-beating earnings growth, even as China's economy sharply slows, as more people shop online for essentials due to the COVID-19 pandemic. Alibaba Executive Vice ...

Germany becomes first country to phase out coal and nuclear

7Jul By AdityaNo Comments

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Germany becomes first country to phase out coal and nuclear

Berlin, Jul 7, 2020: German lawmakers have finalized the country's long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn't ambitious enough and free marketeers criticize as a waste of taxpayer's money. Bills approved by both houses of parliament Friday envision shutting down the last coal-fired power plant by 2038 and spending some 40 billion euros ($45 billion) to help affected regions cope with the transition. The plan is part of Germany's ''energy transition'' an effort to wean Europe's biggest economy off planet-warming fossil fuels and generate all of the country's considerable energy needs from renewable sources. Achieving that goal is made harder than in comparable countries such as France and Britain because of Germany's exist...

India’s Richest Man Company launched Zoom alternative Jiomeet

3Jul By PriyankaNo Comments

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India’s Richest Man Company launched Zoom alternative Jiomeet

NEW DELHI, 3rd July 2020: India's richest man Mukesh Ambani's company Reliance Jio officially launched its video conferencing platform JioMeet yesterday. JioMeet is available on Google Play Store, App Store, and for desktop users. The video conferencing app, which can support up to 100 participants at once. Reliance owned Jiomeet will now compete with other video conferencing platforms like Zoom, Google Meet, etc. Also Read: This Indian Startup Has Made a Zoom Alternative, in Just 20 Days Jio Meet is a platform that has much uniqueness, it actually has an ability to work on any device, any operating system, and it has an ability to do a complete collaboration,” Pankaj Pawar, senior VP, Reliance Jio Infocomm, said to Pixr8 News. “And effectively, this collaboration does not ...

2Jul By AnkitaNo Comments

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Pizza Hut Franchise File for Bankruptcy

World's largest Pizza Hut franchisee in the US filed for Chapter 11 bankruptcy due to business loss in the Covid19 period. In its court filing, the franchise distributor of Pizza hut and Wendy restaurant's, NPC International Inc. listed estimated assets ranging from $1 billion to $10 billion and estimated liabilities in the same range. NPC operates 1,227 Pizza Hut and 393 Wendy's franchise in the United States, representing about 20% of the domestic Pizza Hut system. One of NPC's hurdles has been Pizza Hut's performance in recent years, which created a "significant drag on profitability due to a lack of sales growth and a significant inflationary cost environment," the filing said. But the Covid19 pandemic causes a big loss for Pizza Hut sales, and NPC has struggled with...

TikTok Ban will Hit Parent Firm ByteDance’s $1 Billion Expansion Plan

30Jun By AnkitaNo Comments

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TikTok Ban will Hit Parent Firm ByteDance’s $1 Billion Expansion Plan

New Delhi, 30th June 2020: A ban on 59 Chinese apps including Tiktok by the Indian government over security issues derailed Chinese company ByteDance $1 billion India expansion plan. Tiktok app is owned by its parent firm ByteDance was removed from Google and Apple app stores in India after the Indian government announced on Monday that it was among the 59 apps which it believed posed a "threat to sovereignty and integrity". "If this is not rolled back, these companies would be constrained to cut back their operations in India, potentially resulting in a loss of employment," said a lawyer who advises a Chinese company whose app has been banned. China's foreign ministry said it was "strongly concerned" about India's decision, adding that India had a "responsibility to uphold the le...

Google Meet will now blur your background during live video calls

30Jun By PriyankaNo Comments

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Google Meet will now blur your background during live video calls

Google video conferencing app Meet will soon let users to add images or a blur effect to backgrounds on video calls. Google is also working on several other features like real-time captioning, low-light mode, hand-raising, and a tile view of up to 49 meeting participants that would make Meet more competitive against rival videoconferencing platforms like Zoom and Microsoft Teams, reports The Verge. The company did not disclosed details about when the changes would be available. However, Meet is already previewing some of the upcoming features for its education and enterprise customers. Meet recently received AI noise cancellation feature update to help attendees reduce the background noise significantly. The feature was originally announced in April with a couple of other featu...

Microsoft Changes Working Strategy, Closing Physical Stores, Focuses on Online Service

26Jun By PriyankaNo Comments

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Microsoft Changes Working Strategy, Closing Physical Stores, Focuses on Online Service

REDMOND, Wash., June 26, 2020 -- Microsoft announced a strategic change in its retail operations, including closing Microsoft Store physical locations. The company's retail team members will continue to serve customers from Microsoft corporate facilities and remotely providing sales, training, and support. Microsoft will continue to invest in its digital storefronts on Microsoft.com, and stores in Xbox and Windows, reaching more than 1.2 billion people every month in 190 markets. The company will also reimagine spaces that serve all customers, including operating Microsoft Experience Centers in London, NYC, Sydney, and Redmond campus locations. The closing of Microsoft Store physical locations will result in a pre-tax charge of approximately $450M, or $0.05 per share, to be recorde...