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Business

Disney could be laying at least 32,000 employees as uncertainty amid pandemic continues

Disney could be laying at least 32,000 employees before March 2021 as the coronavirus pandemic continues to hammer its parks and resorts business. This is 4,000 more than previously announced according to a filing to the US Securities and Exchange Commission on Wednesday. The American diversified multinational mass media and entertainment conglomerate employs around 223,000 […]

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Business Tech World

Facebook to pay 1.57 million users $650 million to settle privacy case

Mark Zuckerberg owned Facebook will be making payouts to about twenty-five percent of the 6 million Illinois residents eligible for the biggest consumer privacy settlement in U.S. history. Based on a tally filed in court some 1.57 million people will probably pocket more than $300 each. A third of the total $650 million in settlement […]

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Business

Elon Musk becomes the world’s 2nd RICHEST

Elon Musk, the founder, CEO, CTO and chief designer of SpaceX has climbed up the charts of the world’s richest. The Tesla CEO’s net worth soared on Monday as shares of his electric automaker hit a record high, boosting his net worth to USD$ 127.9 billion, according to Bloomberg Billionaires index. For a couple of […]

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Business World

Australian stock market closes abruptly following software issue

The Australian stock market closed abruptly for most of Monday due to a technical glitch. Australian Securities Exchange (ASX) said the problem was a software issue that created inaccurate market data. The markets had a strong opening before the ASX announced trading had been paused mid-morning. The shutdown is the most serious since the exchange […]

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Business World

Alibaba, JD amass over $115 billion of sales in the world’s biggest shopping event ‘DOUBLE 11’

China’s Singles Day or double 11, an unofficial holiday on Wednesday, 11 November raked up tens of billions of dollars for e-commerce and retail companies in China. Alibaba said on Thursday that the annual sales frenzy broke records once again after it collected roughly US$ 75 billion (or 498.2 billion yuan). The total includes an […]

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Business Tech

India to regulate online content, social media and streaming platforms

The Indian government has decided to regulate content on video streaming platforms, including global services such as Netflix, Amazon Prime Video and Walt Disney’s Hotstar. India’s ministry of information and broadcasting will oversee streaming video content, which was previously unregulated, a brief government circular said on Tuesday, without providing further details. News and current affairs […]

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Business

World’s biggest shopping event ‘DOUBLE 11: 4,000 planes, 3 million workers wait for record demand amid pandemic

China’s Singles Day or double 11, an unofficial holiday on Wednesday, 11 November is the world’s biggest 24-hour online shopping event. Last year, 1.9 billion products were ordered and delivered. Three million workers, assisted by 4,000 planes and ships are waiting for the demand to break new records amid the pandemic. Robot cleaners, vacuums and […]

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Business Insane

Virgin Hyperloop successfully flings humans across vacuum tubes in a test ride

Virgin Hyperloop backed by billionaire Richard Branson’s money successfully flung two humans sitting in a pod across inside vacuum tubes at nearly 172 kilometers per hour on Sunday afternoon. Virgin Hyperloop the only company on the planet to have successfully tested this technology so far. And the company’s CTO, Josh Geigel, and Director of Passenger […]

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Business

Stock listing of Jack Ma’s Ant Group on Shanghai and Hong Kong abruptly halted

The stock market debut by Chinese tech giant Ant Group has been abruptly halted. Ant, backed by Jack Ma, billionaire founder of e-commerce platform Alibaba, was set to sell shares worth about US$ 34.4 billion on Thursday. The listings in Shanghai and Hong Kong would have been the biggest stock market debut to date. But […]

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Business

Samsung reports RECORD revenues as sales surge

Samsung has reported record revenues of US$ 59 billion in its third quarter. The strong revenues were fuelled by a 50% jump in smart phone sales, while profits from microchips rocketed 82%. The Korean tech giant posted a third quarter net profit of US$ 8.3 billion, a 49% increase over the same period last year. […]

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Business India

Facebook’s South Asia public policy director Ankhi Das RESIGNS, after facing allegations of bias towards Modi’s party

Facebook’s South Asia public policy director Ankhi Das resigned, the US tech giant said on Tuesday, months after a political controversy erupted over how the popular social media network regulates political content in the country. Das, who was Facebook’s public policy head for India, South & Central Asia, has decided to step down to pursue […]

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Business

Coca-Cola is saying goodbye to 200 drink brands

American multinational beverage corporation, Coco Cola is cancelling 200 brands, or half of its portfolio. The company had already announced that it will discontinue some beloved, if outdated, drinks, like Tab, Zico and Odwalla. Thursday was the first time the company said it would get rid of 200 of them. Reducing the portfolio will allow […]