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Corporate Bond Sale Helps Lufthansa Raise $1.2 Billion

After a bailout by the government to rescue the company from the hit it faced because of the Covid-19 pandemic, the German airline Lufthansa made use of a corporate bond sale on Wednesday to raise as much as 1 billion euros ($1.2 billion), the company said.   The Covid-19 pandemic induced...

An Estimated 38% Likely Surge In Samsung Electronics Q2 Profit Driven By Strong Chip Prices

Strong chip prices and high demand because of a pandemic-led consumer appetite for electronics, in addition to recovering investment in data centres helped South Korea’s Samsung Electronics Co Ltd to likely propel a 38 per cent growth in its profits for the April-June quarter.   According to...

Chinese Regulators Stop Didi’s App Downloads Over Alleged Data Breach

Smartphone app stores in China have been ordered not to offer Didi Global Inc's apps following findings by China's cyberspace regulator that users' personal data had been illegally gathered by the ride-hailing giant, the regulator has said.   Didi had been told to bring in changes in the...

Chinese Ride Hailing Firm Didi’s US IPO Raises $4.4 Bln – Reports

The initial public offering (IPO) issued in the United States by the Chinese ride hailing company Didi Global Inc helped it to raise $4.4 billion as the company’s shares were priced  at the top of its indicated range while also increasing the number of shares sold, said reports quoting sources...

Formula 1 Strikes $100 Million Digital Currency Sponsorship Deal

Crypto.com, a platform that allows its clients to purchase and sell digital currencies has struck a deal with Formula 1 for a sponsorship worth $100 million for a five year period, according rto reports quoting information from sources with knowledge of the matter.    According to the...

US Judge Dismisses Antitrust Lawsuit Against Facebook Resulting In Surge In Market Value To Over $1 Trillion

Federal and state antitrust complaints against the social media giant Facebook seeking a court order to force the company to sell Instagram and WhatsApp was dismissed by a judge in the United States on Monday. In the ruling the court said that the federal complaint was "legally insufficient."...

Uber Will Allow Employees To Work Up To Half Their Time From Anywhere

The United States based global ride hailing company Uber Technologies Inc has planned a revamped strategy for its staff to return to office according to which the company will allow its employees to work half their hours from wherever they want to.   This new strategy is planned to be...

Xinjiang Human Rights Abuse Videos Published By Rights Group Taken Down By YouTube

Some of the videos posted on Google owned YouTube by a human rights group about testimonials from people who claimed that their families had disappeared in China's Xinjiang region have been pulled down by the social media platform even after they got millions of views. As a result the human rights...

Credit Suisse Discussing A New Look Or Even Merger For Fear Of Predators - Reports

A potential merger with rival UBS for the scandal-hit Swiss bank Credit Suisse are included in a possible overhaul plan for the company and there is increasing pressure on the bank’s top management, said reports quoting information three people familiar with the matter.   According to...

Google And India’s Jio Expands Partnership, To Launch A Smartphone And Cloud Tie-Up

India’s telecom firm Reliance Jio and United States tech giant Google has deepened their partnership with the Indian firm announcing recently the launch of an "ultra-affordable" smartphone which would help to help millions of people to gain access to high-speed mobile data.  The two companies...

Cabin Crew Of Cathay Pacific Ordered To Get Vaccine Or Risk Job Loss

The aircrew of Cathay Pacific have been told that they should get vaccinated against Covid-19 by 31 August or else they will risk losing their jobs. This is because rostering of staff has become "difficult and complicated" as the airline has to segregate the staff who had been vaccinated and those...

Apple Bets On Its Physical Stores As Economies Emerge From Pandemic Closures

Apple Inc believes that a combination of strategies that it had developed and deployed during the vcodi-19 pandemic will increase the popularity of its physical stores more than ever and hence the iPhone maker is expanding its retail operations as the United States emerges from the pandemic, the...
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