Nokia is likely to cut 10,000 to 15,000 jobs globally as part of a cost-cutting programme following its acquisition of Franco-American rival Alcatel-Lucent, a Finnish union representative said. Nokia kicked off the programme in April with a target to slash $1 billion of operating costs by 2018, but it has yet to give a figure […]
IT firm Tech Mahindra today said it will not pursue its plans to set up payments bank operations in the country, becoming the third player to pull out from the race. “With reference to the earlier communication dated August 20, 2015, about the in-principle approval granted by RBI for setting up a payments bank, Board […]
The Delhi government has notified the app-based Premium Bus services starting from June 1 which will enable people to book their seats in buses through their smartphone on the lines of app-based taxis services in the national capital. Only air-conditioned buses will ply under the scheme according to which one bus aggregator will have to […]
Telenor Financial Services, IDFC Bank and Sun Pharma’s Dilip Shanghvi have decided to withdraw their licence to set up a payments bank. They are the second applicant to withdraw from the licence after Cholamandalam group pulled out of payments banks race a couple of months back. In a joint press statement, the partners said: “Dilip […]
Leading industrialist Ratan Tata has invested in niki.ai , an artificial intelligence (AI) based chatbot . The company has also received funding from existing investor Ronnie Screwvala-led Unilazer, it said in a statement. It, however, did not disclose the details of the funding or the total amount it has raised till date. The Tata Sons […]
In a bid to protect the revenues of traditional telecom companies, Saudi Arabia has now blocked social networking giant Facebook’s Messenger service. Internet calling over WhatsApp and Viber were already blocked in Saudi Arabia but similar apps including Tango and Line are still available in the country. Although the authorities claimed that the service has […]
The Delhi Commission for Women has issued notice to five app-based taxi services including Ola and Uber seeking to know the number of taxis which operate under their banner in the national capital and number of drivers whose details have not been duly verified. The DCW, which has taken suo-motu cognisance of the threat to […]
Japanese telecom giant SoftBank today said its investee companies in India – Snapdeal, Oyo Rooms, Ola and Hike – saw good traction even though its own profits dropped 27 percent for the fiscal ended March. SoftBank’s sales for 2015-16 totalled 9.15 trillion yen ($84 billion), up nearly 8 percent from the previous financial year. Chief […]
Dr. Shiva Ayyadurai filed suit today in the U.S. District Court in Boston, Massachusetts against Gawker Media LLC, its writer Sam Biddle, its editor John Cook, and its founder/CEO Nick Denton. Dr. Ayyadurai is a world-renowned scientist, inventor, philanthropist and entrepreneur. He holds four degrees from MIT, including a Ph.D. In 1978, Dr. Ayyadurai invented […]
In first of its kind, Indian Institute of Technology Madras incubated a clean water technology company InnoNano Research finalized an agreement with US-based energy and water investment firm NanoHoldings for an $18 million investment. The company makes affordable clean drinking water reach very nook and corner of the country, especially areas that are affected by heavy […]
Facebook Inc lost the first round in a court fight against some of its users who sued the social networking company, alleging it “unlawfully” collected and stored users’ biometric data derived from their faces in photographs. The judge presiding over the case in a California federal court on Thursday turned down Facebook’s motion seeking dismissal […]
A year after going app-only, fashion e-tailer Myntra will now launch again its desktop website on June 1. Myntra, part of eCommerce giant Flipkart, had attributed the decision to the manifold growth in traffic from smartphones, which prompted it to go mobile-only from May last year. Myntra said the U-turn in its decision was based […]