Categories
Business World

China’s billionaire gaming tycoon Lin Qi poisoned to death by colleague

The chairman and chief executive of games developer Yoozoo, Lin Qi, 39, best known for the Game of Thrones: Winter Is Coming strategy game was poisoned to death, Shanghai police said. In a statement the police said  Lin’s colleagues identified Xu Yao as the main suspect, who heads Yoozoo’s movie production arm. Local media said Mr […]

Categories
Business Social Media Reactions

Elon Musk offered to sell Tesla to Apple for 1/10 of its value around 2017

Billionaire Elon Musk has revealed that he approached Apple Inc’s Tim Cook to see whether Apple was interested in buying Tesla, but the CEO refused to take his meeting. Musk said he approached Cook when the company was in serious financial trouble, and worth one tenth of its current value. ‘During the darkest days of […]

Categories
Business India

India’s TikTok copy raises $100 million in funds from investors including Google, Microsoft

A TikTok copy application received USD $100 million in funds from investors including Alphabet Inc’s Google and Microsoft several weeks after Chinese-owned short-video app was banned. Josh, short-video platform application that sprung after India blocked TikTok in June amidst a border crisis with China, attracting global investor interest in applications filling the gap. VerSe Innovation, […]

Categories
Business India

iPhone Factory Violence: Apple puts Taiwanese contract manufacturer on probation over lapses in payment of wages to workers

Apple Inc has placed supplier Wistron Corp on probation, saying on Saturday it would not award the Taiwanese contract manufacturer new business until it addressed the way workers were treated at its southern India plant. Early findings of an Apple audit in the wake of violence at the Wistron plant in India’s Karnataka state showed […]

Categories
Business

Stock market debut PUSHES Airbnb past $100 billion valuation

Shares of Airbnb Inc more than doubled in their stock market debut this week, valuing the home rental firm at just over USD $100 billion in the biggest U.S. initial public offering of 2020 and capping a bumper year in which investors flocked to tech stocks. Airbnb opened at USD $146 on the Nasdaq, far […]

Categories
Business World

Cash worth over £50 billion is ‘MISSING’ in Britain

The use of cash has been declining over the recent years in Britain, but demand for banknotes is skyrocketing. Some UK lawmakers have said as much as GBP £50 billion in cash was “missing,” and it urged the Bank of England to investigate. The money is “stashed somewhere but the Bank of England doesn’t know […]

Categories
Business

Pandemic pushes Bitcoin to record HIGH of $19,864 against dollar amid increasing demand

Bitcoin cryptocurrency hit a record high against the dollar as its 2020 rally steamed ahead, boosted by increased demand from both institutional and retail investors that saw the virtual currency as a safe-haven and a hedge against inflation. The digital unit touched an all-time peak of $19,864.15, breaking its prior record set nearly three years […]

Categories
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 […]

Categories
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 […]

Categories
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 […]

Categories
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 […]

Categories
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 […]