Global ride-hailing firm Uber has projected a more measured valuation ahead of its IPO debut on the New York Stock Exchange later this week.

US chipmaker sees shares plunge after antitrust ruling

Written on Thursday, 23 May 2019 07:59
The US manufacturer of superchips that powers our smartphones has seen its shares plummet following an antitrust ruling.

SoftBank loses $16bn following Uber IPO

Written on Wednesday, 15 May 2019 09:39
The market value of SoftBank Group, Uber’s biggest stakeholder, has decreased by $16 billion following Uber’s disappointing initial public offering.
US technology behemoth Microsoft is edging nearer a trillion-dollar valuation after its profits soared in the first-quarter of 2019. Microsoft enjoyed the increase in its revenues largely because of its cloud and business services continue to resonate with the market. Profits’ in the opening quarter climbed by 19% to $8.8bn and that represents an increase of 14% from the same period a year earlier. Microsoft also saw its shares gain 3% on the New York Stock Exchange which pushes it…
US chipmaker Qualcomm has seen its shares prices soar on the New York Stock Exchange following the end to a long-running dispute between them and iPhone manufacturer Apple over patent license agreements. The pair where set for another protracted legal battle in San Diego but managed to broker an agreement that satisfied both parties over royalty payments. It has been reported that resolution deal between Apple and Qualcomm includes a six-year license agreement with the option to extend for two…
Apple and US chipmaker Qualcomm will resume their long-running feud as a new court case between the two titans of American enterprise begins in San Diego next week. The two companies have been embroiled in a bitter row over patent licensing practices for the best part of two years. Last month, a Californian jury ruled in favour of Qualcomm and awarded the company $31m after it found that Apple’s iPhone 7, 7 Plus, 8 and 8 Plus and X infringed…

Qualcomm awarded $31m in patent legal battle with Apple

Written on Monday, 18 March 2019 13:29
US chipmaker Qualcomm has won its protracted legal battle with Apple over patented technology used in iPhones. A jury in a federal court in Southern California ordered that Apple pay Qualcomm $31m after deliberating that the smartphone manufacturing behemoth had committed patent infringements for chips used on iPhone 7, 8 and X models. The damages were tabulated from July 6, 2017 through the end of the trial, according to a Qualcomm statement. The legal representative for the chipmaker expressed their…

Tesla to increase prices and keep several stores open

Written on Tuesday, 12 March 2019 07:59
Tesla is planning to increase prices by 3% on all cars except for the new mid-market Model 3. Recently, Tesla said it would close down several stores in order to pay for a cut in the price of the Model 3 in the US to USD $35,000. The amount of stores to be closed down were not previously specified but Tesla has said that it now plans to close down “about half as many” stores as it makes half the…

Google set to spend $13bn in US data centre expansion

Written on Sunday, 17 February 2019 12:32
US technology behemoth Google has announced that it will spend $13bn in expanding its US data centre network.

International tax on digital giants expected in 2020

Written on Monday, 28 January 2019 12:07
An international levy on digital conglomerates such as Google, Facebook, Microsoft and Amazon are expected to be imposed in 2020. The admission was made by OECD Secretary-General Angel Gurria when speaking at the World Economic Forum in Davos. However, the implementation of the tax is highly complex, with many countries threatening to go it alone, whilst Europe remains divided on the issue. Gurria said, “It is possible. I believe that the conditions exist to lay the foundations for an agreement…

US tech giants make huge investment in NYC

Written on Thursday, 29 November 2018 12:09
According to The Wall Street Journal, Google is reportedly set to purchase significant amounts of real estate throughout New York City, which could provide an extra 12,000 tech workers to multiply its workforce. Parent company, Alphabet Inc. is nearing a deal to buy or lease three new properties in the city, including a 1.3 million-square foot building in St. John’s Terminal. Earlier this year, the tech giant spent $2.4 billion buying New York City’s historic Chelsea Market, with plans to…
UAE telecom operator Etisalat’s former Nigerian operation, rebranded as 9mobile, will be purchased for $500 million by investment firm Teleology Holdings. An auction was held for the troubled operator, which became a new brand in the Nigerian telecom market in mid-2017 after Etisalat pulled out of the country. The auction for 9mobile was supervised by Barclays Africa, which picked the highest bidder after four companies were shortlisted. Pan-African telecoms group Smile made a bid for $300 million and is said…
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