Sunday, May 26

Tag: Europe

Google wins EU antitrust nod for $2.1 billion Fitbit deal
News

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 u...
Volvo Trucks launches range of Electric Trucks for European Market
Automobile

Volvo Trucks launches range of Electric Trucks for European Market

GOTHENBURG, Sweden, Nov. 5, 2020-- In 2021, Europe will be able to order all-electric versions of Volvo's heavy-duty trucks. Volvo Trucks' massive drive towards electrification marks a major step forwards on the road to fossil-free transport. Volvo Trucks is now running tests of the electric heavy-duty Volvo FH, Volvo FM and Volvo FMX trucks, which will be used for regional transport and urban construction operations in Europe. These trucks will have a gross combination weight of up to 44 tonnes. Depending on the battery configuration the range could be up to 300 km. Sales will begin next year and volume production will start in 2022. This means that from 2021 onwards Volvo Trucks will sell a complete range of battery-electric trucks in Europe for distribution, refuse, regional...
Getaround acquires European Car Sharing Platform Drivy for $300 Million
ACQUISITION

Getaround acquires European Car Sharing Platform Drivy for $300 Million

SAN FRANCISCO-- Carsharing pioneer Getaround announced a $300M acquisition of Drivy, the largest and fastest-growing carsharing platform in Europe. Getaround and Drivy combined now spans 300 cities in the U.S. and Europe, adding international presence in six European countries inlcuding France, Germany, Spain etc. With more than five million users between the two companies, Getaround is now the world's leading carsharing marketplace. Headquartered in Paris, Drivy has quickly built a community of two and a half million users across Europe with an established track record of local market execution and innovation. Getaround and Drivy share this vision of connected carsharing, as Drivy also introduced an instant smartphone unlock function a connected technology that removes the ...
QSR Startup Charcoal Eats to Foray into the International Markets
News

QSR Startup Charcoal Eats to Foray into the International Markets

Quick service restaurants startup Charcoal Eats which currently operates only in India is foraying into international markets starting with the Middle East and Europe. The company at present offers its services in about 30 locations across 11 cities in India. The company is expecting to enter the Middle East through Bahrain with about 8-10 outlets and then expand to other countries in the area. Along with the Middle East, the company would also reach the areas of the United Kingdom with 4-5 outlets by March next year. “Going forward, we will maintain a dual focus for India expansion - opening more outlets in metros (Mumbai, Delhi NCR, Pune, Bengaluru, Chennai and Kolkata); and expanding into tier II cities, which we see as the future growth engines for the food space. Charcoal Eats int...
China’s Bike Company Youon Expands to Europe to Cut Competition
Automobile

China’s Bike Company Youon Expands to Europe to Cut Competition

A lesser-known China’s bike company Youon is reportedly expanding to Europe as its rival Ofo has applied the brakes to its global expansion strategy in recent months. The company has formed a joint venture with UK-based bike-sharing startup Cycle.land which will enable Youon to sit back in its headquarters in eastern China while its British partner deploys its bikes and takes care of on-the-ground operation. The fleet of the company’s 1,000 public bikes will start appearing in London next March. This move will make the UK the fourth country in its international expansion after Russia, India, and Malaysia. “User behavior in Europe and North America is very different and it will be reckless for a [Chinese] firm to abruptly set up its own operations overseas,” Sun Naiyue, an analyst at...
Reliance Jio To Go Global, Eyeing to Capture European Market
BUSINESS

Reliance Jio To Go Global, Eyeing to Capture European Market

After bringing a data boom in the telecom market with cheap offers and a lot of freebies, Mukesh Ambani led company Reliance Jio is now eyeing to expand in Europe. If reports are to be believed, the company is in plans to build a subsidiary in Estonia, a small country in Europe which is a prominent hub for startups owing to its unique digital policies. IANS has reported that Ambani has interestingly shown interest in an e-residency programme of Estonia which will give him an easy gateway to European Estonia for his existing business. The report cited that Ambani met Estonian delegation and expressed intentions over a future collaboration that could boost e-governance solutions in India.     Estonia- A Business Opportunity for Reliance? Though Estonia is a too small...
Airbus CEO To Step Down In 2019, Know Why
News

Airbus CEO To Step Down In 2019, Know Why

European multinational corporation Airbus that designs, manufactures, and sells civil and military aeronautical products worldwide recently said that its CEO Tom Enders will step down from his post in April 2019. Airbus is now preparing for a complete transition of its top management with the departure of two seniors as the planemaker grapples with corruption allegations. The company said Enders, who will have been at the helm of Airbus and defense firm EADS for 14 years, won't seek another term. The 59-year-old was quoted Friday as saying Airbus needs "fresh minds for the 2020s" and he would use the remainder of his time to ensure a smooth transition and to strengthen the company's ethics and compliance programs. While Enders will be stepping down when his term ends in 2019, A...
Global Press Freedom Hit The All Time Low: Report
ANALYSIS, INSPIRATIONAL

Global Press Freedom Hit The All Time Low: Report

Global press freedom has recently declined to its all time low ever in 13 years in 2016 amid unprecedented threats to journalists and media outlets in major democracies. As per the research done by Freedomhouse.org only 13 percent of the world's population enjoys a Free press. Not to forget the far-reaching attacks on news media in a democratic society by Donald Trump, first as a candidate and now as the President of  United States.Borrowing a term popularized by Soviet leader Joseph Stalin, Trump has labeled the news media as “enemies of the people”. Yet, U.S. remains as one of the most press-friendly countries in the world, in comparison to the countries like North Korea, Turkmenistan, Iran, Syria who are designated as Not-free in the Freedom of press 2017.  While the pr...
European Commission Suspends WhatsApp Operation Over Sharing User Data
News

European Commission Suspends WhatsApp Operation Over Sharing User Data

WhatsApp has temporarily suspended giving parent company Facebook information about users in Europe for ad targeting, responding to concerns there over privacy, a source close to the matter has said. Conversations with officials in Europe over the past few months resulted in the social network deciding to only tapping into WhatsApp user data there for purposes such as fighting spam, according to the source. The break was described as an effort to give regulators time to share privacy concerns and for Facebook to consider ways to address them. German data protection authorities in September cited privacy concerns when they blocked Facebook from collecting subscriber data from WhatsApp there. "It has to be (the users') decision whether they want to connect their account with Faceboo...
Players in Financial Services May Relocate From London: T V Mohandas Pai
Entrepreneurs Talk

Players in Financial Services May Relocate From London: T V Mohandas Pai

Indian IT players catering to clients in the financial services space in London may shift their operations to other parts of Europe in the wake of Britain's exit from the European Union, says tech investor T V Mohandas Pai. For the Indian IT industry, the biggest immediate impact would be the shift in the movement of Pound Sterling, which has now become cheaper, Pai said. "That's already impacting them, marginally, depending upon who is exposed to business in the UK," he told news agency noting that over a period of time, lot of work is being done by Indian IT companies in UK financial services space in London. "Now, many of them may migrate to (other parts of) Europe. In case they migrate to Europe, they have to shift to Europe. What happens there is something that needs to be seen. So...
Audio: Are Startups Really Job Engines?
BLOGS

Audio: Are Startups Really Job Engines?

Everybody wants to be an entrepreneur. The myth of footloose 25-year-olds changing the world while incidentally becoming deliriously rich has intoxicated a generation. And governments are eagerly handing out tax breaks to help them get started. After all, those new companies are engines of economic growth and job creation, right? Startup Audio Listen to This Story Well, maybe, says Stanford Graduate School of Business professor George Foster. He suggests that policymakers and would-be tycoons alike could do with a sobering belt of reality. In a new multi-country study, he finds that most startups never take off — and among those that do, setbacks destroy a sizable share of the employment and revenue gains in the sector. “Most of the stories you hear about startups h...