Business

Chinese Tech Giant Alibaba’s Ant Financial Buys WorldFirst for £500 Mn

Ant Financial, an affiliate of Chinese tech giant Alibaba, has made its first big move into Europe. Acquiring London-headquartered payments company WorldFirst in a deal valued around US$ 700 million Ant Financial was in discussions with WorldFirst for quite a few months.. This takeover is a notable entry into the market by the Chinese technology company into the UK’s burgeoning fintech sector. WorldFirst offers currency hedging and foreign exchange services‎

Researchers Examines Melt Flow Behavior to Improve Welding Process

Recently, combined research was conducted, where the researchers from the Delft University of Technology, the University of Leicester, University College Dublin, Diamond Light Source, and TATA Steel Research UK worked together. Professor Hongbiao Dong from the University of Leicester’s Department of Engineering headed the research. He showed ways to optimize additive manufacturing and arc welding at a relatively less price with more efficiency by exploring its internal flow behavior. The

Fluctuation in Stock to Risk Sales of Luxury Watches and Jewelry

As per the analysis was done by Daan Struyven, an economist at Goldman Sachs, spending on luxury goods, watches, boats, and jewelry is likely to fall. This fall is followed by recent stock jitters seen in the market since last September. The decline in stock prices could decrease luxury spending by wealthy spenders. This decline might also have an adverse effect on the gross domestic product in 2019. He emphasized

Focus on 3 Dimensions to improve Food Security after Natural Calamity

Aftereffects of natural disasters have considerable impact on food supplies, especially in Asian regions. To solve these problems, scientists at Colorado State University (CSU) have come up with an approach known as an ‘approximate dynamic programming’. Adopting this approach, the communities affected by natural calamities can improve the household food security. Studies by CSU also revealed the link between disruption in civil infrastructure and failures in food distribution. Natural calamities

Hitachi to Buy ABB’s Power Grid Business for up to $7bn

Hitachi has finally reached on the decision to buy ABB’s power grid business for around 800 billion yen, which means around $7 billion, as per the source familiar with the matter. The Japanese industrial conglomerate has been looking forward to strengthen its overseas presence in a market, which is growing at a fast pace. The two multinational’s Hitachi and ABB are likely to hold a news conference to announce the

Youtube

During the third quarter of this year, YouTube removed 7.8 million videos, more than 1.5 million channels and about 224 million comments due to the violation of its community guidelines. Alike many other tech giants, the Google-owned video site has been facing a lot of international pressure to take stern steps to fight problematic content. The social giant released the aforementioned figures in its latest Transparency Report last week. The

Warships Manufacturers Austal Bags new US Navy Contract

Austal USA, a global manufacturer of defense and commercial ships won a new contract to build two littoral combat ships. Austal will bag an estimated $1.6 billion for manufacturing two combat ships for the US Navy. The US Department of Defense revealed that Austal bagged the order for two out of three warships approved under its fiscal budget for 2019. The news comes three months after Austal USA won two

CEO and CFO at Myntra Quit After Binny Bansal Exit From Flipkart

Binny Bansal, co-founder of an ecommerce giant, Flipkart exited from his position and the company after the serious allegations against him on Tuesday, about the personal misconduct. This event is having a domino effect on Ananth Narayan, CEO of another big name in the ecommerce industry, Myntra, and Dipanjan Basu, Chief Financial Officer, who have resigned from their position, a close source reported on this matter. The organization reaaraged the

Walmart to start Online Deals post an Early Thanksgiving this Year

Several prominent retailers in developed markets, notably in the U.S., have geared up to make whopping gains from the upcoming festive season post the Black Friday. Experts anticipate household spending in the U.S. to burgeon by a large slice (by as much as 25% higher) compared to the previous year. Retailers with the likes of Walmart and Amazon, targeting both on online and offline consumers, are leaving no stone unturned

Apple Inc. to become First Publically Listed US-based Company

Apple Inc. is now the first company with US$1 trillion and publically listed US-based Company on Thursday. High demand for iPhone over the decade has fuelled the growth of the company from a small player of personal computers to a global player and powerhouse players for entertainment and communications. Stocks of the company jumped by 2.8% to as high as US$207.05 and rise from 9% from Tuesday when it reported