Category: Finance

Bank of England Says Economy Will Take Time to Heal

On Thursday, The Bank of England predicted that the economic downturn in the U.K. economy amid COVID-19 might be less severe than it thought at the start of the pandemic but it would take a longer time to heal the scars. The central bank said the economy may not return to pre-pandemic levels until the […]

Uber to buy taxi tech firm Autocab to expands in UK

The U.S. based ride-hailing service provide Uber confirms on Thursday that it was buying the UK’s taxi tech firm Autocab to reach customers where it does not currently operate. Notably, the Cheadle Royal Business Park-based Autocab mainly sells booking and dispatch software to private hire firms. The Silicon Valley-based cab aggregator informed that the acquisition […]

Nintendo profit jumps 428% as Animal Crossing sales top 22 million

Japan-based gaming behemoth, Nintendo Co Ltd reported a 428% jump in first-quarter profit. And this is all because of the rise in demand for its Switch console and hit title Animal Crossing: New Horizons. We all know that the ongoing coronavirus outbreak boosts the games industry dramatically. And that’s why, the operating profit of Nintendo […]

Disney Earnings Report Reveals Rare Loss, Nearly $5 Billion

Walt Disney Co. posted its first quarterly loss since 2001, nearly $5 billion, as the majority of its business segments reeled from government efforts to corral the coronavirus by shutting down public spaces around the world. The Covid-19 pandemic has closed Disney’s theme parks, virtually eliminated movie distribution, and curtailed live sports, a key programming […]

Sequoia Capital ramps up India leadership team; appointed new marketing and policy heads

Menlo Park-based venture capital firm Sequoia Capital has announced the expansion of its Indian leadership team, as on-boarded new marketing and public policy head and an operating partner. One of the most active investors in India, Sequoia Capital named former Star India senior executive Gayatri Vasudeva Yadav as its new chief marketing officer (CMO), and […]

IPL 2020: Vivo Pulls Out of IPL Title Sponsorship for This Year

Amid India-China row, the Chinese smartphone maker Vivo, which has been the sponsor for IPL since 2018, has pulled out of sponsoring the T20 tournament this year. But interestingly, Vivo is not terminating its 5-year sponsorship program with the BCCI and will sponsor the tournament in 2021, 2022, and 2023. There is no doubt about […]

Sashidhar Jagdishan to replace Aditya Puri as HDFC Bank CEO; RBI gives nod

As Reserve Bank of India (RBI) gives the nod, Sashidhar Jagdishan appointed as the new managing director and chief executive (CEO) of HDFC Bank for a period of three years. With the development comes into the light, the HDFC Bank’s shares rose as much as 5.78 percent to an intraday high of Rs 1,059.90 on […]

Commerce and Industry Minister Piyush Goyal addresses the launch of United Nations-Industrial Development Report 2020

New Delhi: Today, The Minister of Railways and Minister of Commerce and Industry in the Government of India, Piyush Goyal addresses the launch of the United Nations-Industrial Development Report 2020. Piyush Goyal at round table 4.0 making industry work said that self-reliant India needs challenges and strategies to push to 5 trillion economies and take […]

Billionaire Milner nears $400 million funding in India’s EdTech startup Byju’s

Billionaire Yuri Milner investment firm, DST Global is close to investing around $400 million in well known Indian online education startup Byju’s. This development is reported by Bloomberg. Interestingly, as per the sources quoted on the report, this deal which may be announced in the coming weekend will value Byju’s at $10.5 billion. And if […]

President Trump Says U.S. Should Get Slice of TikTok Sale Price

The United States President Trump said he was ready to give approval for the purchase of the U.S. operations of the Chinese ByteDance-owned video-sharing app TikTok, but only if the government receives “a lot of money” in exchange. Earlier, Redmond-headquartered Microsoft Corp. said it hopes to acquire TikTok’s U.S. business along with three other countries […]
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