Reliance Jio in Talks to Buy Tiktok's $3 Billion Indian Business
ByteDance, the company that owns Tiktok, is in early discussions with Reliance Jio for investment in the video app. According to TechCrunch, the talks started in July but are yet [...]
Brief; Global Markets Rundown
US initial jobless claims The number of initial jobless claims in the United States for the week ending August 8 fell by 228,000 compared to 963,000, falling below 1 Million [...]Court Orders Uber Lyft to Classify Drivers as Employees
A court in California has ordered ride-hailing companies, Uber and Lyft, to classify their drivers as employees, rather than freelancers/contractors. The order comes at an uncertain time when both companies [...]UK's Economy Suffers Worst Recession on Record
A recession brought on by the global coronavirus pandemic has led to the biggest fall in quarterly GDP on record in the United Kingdom(UK). Analysts are still figuring out how [...]
Airbnb Set to File for an IPO this August
Airbnb is planning to file for an Initial Public Offering (IPO) this August, and could begin trading by the end of 2020, thus paving the way for the company to [...]Saudi Oil Giant Aramco Plans Dividend Despite a 73% Profit Crash
CEO of Aramco says the company still plans to pay a dividend of $75 billion despite a significant drop in its net profit. Profits for the company for the quarter [...]MTN Plans Phased Exit of the Middle East Market
Africa's largest mobile carrier is planning to exit the Middle East market, citing low revenues as well as growing complexities in the environment. MTN will first sell its subsidiaries in [...]Trump Ban on Chinese Tech Firms Drags Global Markets Lower
Global markets traded lower on Friday following US President Donald Trump's move to sign two executive orders banning transactions between the US and TikTok owner Bytedance and WeChat owner Tencent. [...]
Trump's Executive Orders ban Transactions with TikTok and Wechat Owners in 45 Days
US President Donald Trump signed two executive orders banning US transactions between the US and TikTok owner Bytedance and WeChat owner Tencent. The orders, which take effect in 45 days, [...]Amazon Signs Cloud Service Deal with Bharti Airtel
Amazon has signed a deal with Bharti Airtel to sell Amazon Web Services (AWS) to small and medium businesses in India through Airtel Cloud. The new partnership will help Amazon [...]Virgin Atlantic Files for Bankruptcy
Virgin Atlantic has filed for Chapter 15 bankruptcy, a move that seeks to protect its assets from US creditors as it scrambles to finalize a rescue plan with the aid [...]Microsoft Expects TikTok Acquisition Discussions to End by September 2020
Microsoft has confirmed that it is still engaging with ByteDance to acquire TikTok's assets in the United States. Microsoft CEO Satya Nadella says that they will pursue discussion in a [...]
