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30-Month Prison Term In Bribery Case Slapped On Samsung's Lee

The ownership restructuring plans of the South Korean electronics giant Samsung Electronics could get delayed because of a court sentenced passed against the vice chairman of the company Jay Y. Lee for a jail term of two and a half years on Monday. The patriarch of the company and Lee’s father had...

The First Foreign Company In China To Fully Own A Payments Business Is PayPal

The first foreign company in China to own a 100 per cent control of a payment platform in the country is Holding Inc, according to data available from the Chinese government.   This is a boost to the aim of the United States based fintech giant to make larger inroads into the booming Chinese...

Shoppers 'Treat Themselves' During Pandemic-Ridden Christmas Helping Tesco To Report Record Sales

With people in lockdown in the United Kingdom because of the second wave of Covid-19 pandemic ordering more deluxe range products online, "record" sales over Christmas was reported by the largest retailer of the UK – Tesco.    In the six weeks to 9 January, there was an 8.1 per cent...

Strong Pandemic Sale Prompted UK’s Hut Group To Upgrade Profit Forecast For 2021

Profit forecasts by the online retail company that was recently went public, The Hut Group, which is owned and run by the Matthew Moulding, have been raised after the company experienced strong demand and sales for its beauty and sports nutrition brands during the novel coronavirus pandemic era....

Samsung To Offer Customized Fridges To Attract Millennials

More bespoke electronics is planned to be created by Samsung to increase appeal of its products for youngsters.    During the third quarter, an increase in sales for its fridges and cleaners during the pandemic was witnessed by the South Korean electronics giant while it also recorded a...

Korea IT News Claims Apple, Hyundai To Ink Partnership For Electric Car

According to a report published in a South Korean local newspaper Korea IT News on Sunday, a partnership deal is to be signed between Korean auto maker Hyundai Motor and Apple Inc for autonomous vehicles by March this year and the two companies plans to begin production by about 2024. .  ...

Search For Design Head To Cater To Chinese Market Being Done By Tesla: Reuters

In its efforts to start a “full-function” studio in Shanghai or Beijing and thereby design electric cars that are specifically suited to fulfil Chinese consumer tastes, United States based electric car maker Tesla is searching for a design director in China, claimed a report published by the news...

Despite Policy Violations, A Host Of Lending Apps Thriving On Google Play In India

Google Play Store’s rules on loan repayment lengths aimed at protecting vulnerable borrowers have been violated by at least 10 Indian lending apps on the Store. These apps have been downloaded millions of times, claimed a Reuters report based on analysis of such services and more than a dozen...

US Index Providers Drop Chinese Telecom Firms Who Lose $5.6 Billion In Combined Value

A total of $5.6 billion was shaved off the value of their Hong Kong-traded shares for three Chinese telecom companies at the end of last week after the stocks of three companies were announced to be dropped off from their benchmarks by the index providers MSCI Inc, FTSE Russell and S&P Dow...

Hyundai Holding Early But Unspecified Talks With Apple, Local Media Claims The Two Discussing Electric Vehicles

Following a telecast by a local broadcaster of South Korea that discussions were being held for a tie up about an electric car and car battery between the South Korean auto giant Hyundai Motor Co and the United States based iPhone maker Apple Inc, the auto giant confirmed that it was in early but...

LVMH Engaged In Tiffany Makeover After Conclusion Of $16 Billion Acquisition

Bernard Arnault, the son of the founder of LVMH has been installed in a new leadership position at Tiffany on Thursday following the conclusion of the $15.8 billion acquisition of the United States jeweller by the French luxury goods group.   Two executives from its Louis Vuitton handbag...

Market Value Of Game Maker Roblox Increased Seven Folds During Pandemic

The value of the company that has developed and runs the children's online gaming platform Roblox has skyrocketed during the novel coronavirus pandemic season.   With the company raising $520m in private capital in a funding round earlier this week, the market value of the company reached a...
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