By Lulu Yilun Chen China’s highest-flying technology startups are struggling to stay afloat after the coronavirus outbreak threatened to paralyze critical venture capital funding. Investment in an industry that runs on face-to-face contact and gut instinct has fallen off a cliff since the epidemic erupted in January. Venture capital funds slashed startup investment by 60% […]
Archives for February 2020
Myntra names its new chief technology officer
Fashion etailer Myntra has announced a new appointment in its leadership team. Raghu Krishnananda has been named as its new chief technology officer (CTO). He was last working as the head of service platforms at Samsung Research Institute in Bengaluru. With over two decades of experience as a tech expert, Krishnananda has led R&D teams […]
Karnataka High Court stays CCI probe into Amazon, Flipkart
Illustration: Rahul Awasthi The Karnataka High Court on Friday stayed the Competition Commission of India’s (CCI) investigation into allegations of anti competitive behaviour by Amazon and its chief rival Flipkart for a period of eight weeks. The interim order comes as a relief to both firms that had come under the competition watchdog’s scrutiny for […]
Facebook’s Zuckerberg wants ‘new framework’ for digital tax
Facebook founder and CEO Mark Zuckerberg on Friday backed moves by the OECD group of free-market economies to reform the way online giants are taxed worldwide, even if that means companies like his own paying more to national governments. “We also want tax reform and I’m glad the OECD is looking at this,” Zuckerberg says […]
Amazon’s claim unfounded, CCI tells Karnataka HC
Illustration: Rahul Awasthi The Competition Commission of India on Thursday told the Karnataka High Court that Amazon’s claim of the commission not having followed the due process in gathering evidence before ordering a probe into the company and its chief rival Flipkart was unfounded. Senior counsel Harish Narsappa, who argued for the CCI, told the […]
IoT device security: 5 tips for enterprises
There are now billions of IoT devices in businesses across the world, prompting the need for increased security measures to protect them. More about cybersecurity IoT devices are everywhere now, and some estimates say there will be 41.6 billion IoT devices in the field by 2025, with over $1 trillion spent on them by 2023. […]
Watch the Federal Reserve confirmation hearings for Shelton and Waller live
[The stream is slated to start at 9 am ET. Please refresh the page if you do not see a player above at that time.] President Donald Trump’s two choices to fill Federal Reserve board spots will get their confirmation hearings Thursday before the Senate Banking Committee. Judy Shelton of California and Christopher Waller of […]
Organisers of cancelled mobile conference play down compensation chances
BARCELONA (Reuters) – Companies that have spent money on a major telecoms conference in Barcelona that has been cancelled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organisers’ standard insurance, they said on Thursday. The GSMA telecoms body cancelled the Feb. 24-27 event on Wednesday despite assurances from local and […]
Android co-founder Andy Rubin’s startup shuts down
Essential Products, a consumer electronics startup founded by the former Google executive Andy Rubin, said on Wednesday that it was ceasing operations. Once considered one of Silicon Valley’s most promising hardware technology startups, Essential had raised $330 million in outside funding because of the track record of Rubin, who is widely credited with creating Google’s […]
Doesn’t look, feel, smell right when etailer makes Rs 6K cr loss on Rs 5K turnover: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Thursday asked e-commerce players to strictly adhere to FDI norms, saying it “certainly does not look and feel and smell right” when a company makes a loss of Rs 6,000 crore on a turnover of Rs 5,000 crore. Goyal, who had earlier remarked that e-commerce giant Amazon was […]