Alibaba Group on Friday reported forecast-beating fourth-quarter revenues and profits, as more people shopped online for essentials because of the coronavirus lockdowns. As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core commerce business rising nearly 19% to 93.87 billion yuan ($13.16 billion) in the […]
Archives for May 2020
ETtech Top 5: Jio’s latest investor, Amazon hiring, lenders on thin ice & more
Happy Friday! Jio Platforms is on a deal-making spree. The holding company of India’s largest telecom operator—Reliance Jio Infocomm—struck its fifth deal in a month. Private equity firm KKR will invest Rs 11,367 crore in the company for a 2.32% stake. This follows the investments made by social media giant Facebook, private equity funds Silver […]
NSO Group Impersonates Facebook Security Team to Spread Spyware — Report
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Data of 3.5 million Zoomcar customers up for sale
Personal data of around 3.5 million Zoomcar users has been up for sale on what is known as the Dark Web since Thursday, according to a cybersecurity consultant. Dark Web refers to that area of cyberspace where content cannot be searched using normal search engines because it is encrypted. The data includes names, email ids, […]
Will Contact-Tracing Apps Win the Battle?
There are weaknesses and obstacles in the way, but in lieu of a vaccine and widespread testing for COVID-19, contact-tracing apps might be at least a useful interim tactic. Image: alexandra – stock.adobe.com Pandemics stir up mass panics that are hard to control. They inject massive amounts of fear, uncertainty, and doubt into the general […]
What to do with your stimulus check
As of May 18, the IRS has sent out 140 million stimulus checks, with around 10 million more to send. The funds are expected to help people pay their expenses and jump-start the economy, which has been in decline since the coronavirus hit U.S. soil. This money — $1,200 for individuals with adjusted gross income […]
US Treasury yields move lower on increased tension between U.S. and China
U.S. government debt prices were higher Friday morning on concerns over new instability in Hong Kong and increasing tensions between Washington and Beijing. At 2:30 a.m ET, the yield on the benchmark 10-year Treasury note was trading lower at 0.6428% and the yield on the 30-year Treasury bond was also moving lower at 1.3517%. Yields move inversely to prices. Investors […]
Britain extends COVID-19 mortgage payment holiday by three months
LONDON (Reuters) – Britain has extended its mortgage payment holiday scheme for homeowners in financial difficulty during the coronavirus pandemic for another three months. Britain’s finance ministry said more than 1.8 million mortgage payment holidays had been taken up since the scheme was launched in March. It had been due to end in June. Homeowners […]
Facebook’s Zuckerberg embraces remote work beyond Silicon Valley
Facebook will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector’s geographic diversification away from its home in Silicon Valley. Zuckerberg said the world’s largest social network would start “aggressively opening up remote hiring” in July, expecting that about half its workforce would eventually […]
As ecomm resumes delivery, parents rush to buy toddlers’ clothes
Kids clothing saw a huge jump in sales at both physical and online stores over the past ten days, as parents scrambled to replace wardrobe for infants and toddlers who outgrew their garments during nearly two months of lockdown. Companies including Arvind Fashions, Flipkart, Amazon, Madura Fashion & Lifestyle, Puma, Myntra, Bestseller India and Snapdeal […]