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Archives for June 2020
Facebook signs a global licensing deal with music label Saregama
Facebook has struck a global licensing deal with Saregama to bolster the library of its music products across its flagship social networking platform and Instagram. While the terms of the deal were not disclosed, this partnership will allow users to add the label’s music across various formats like videos, stories via music stickers, and other […]
WhatsApp, PayPal invest in Indonesian payments and ride-hailing firm Gojek
Facebook’s messaging platform WhatsApp and PayPal said on Wednesday they had invested in Indonesian payments and ride-hailing firm Gojek as part of its ongoing fundraising round. WhatsApp and PayPal did not mention how much money it was investing in Go-Jek or how big a stake it would acquire. WhatsApp Chief Operations Officer Matt Idema said […]
After Facebook staff walkout, Zuckerberg defends no action on Trump posts
Facebook CEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest. A group of Facebook employees – nearly all of them working at home due to the coronavirus […]
Zoom booms as pandemic drives millions to its video conferencing service
Zoom is rapidly emerging as the latest internet gold mine as millions of people flock to its conferencing service to see colleagues, friends and family while tethered to their homes during the pandemic. Tuesday’s release of the once-obscure company’s financial results for the February-April period provided a window into the astronomical growth that has turned […]
Lending apps turn nightmare for borrowers
Pravin Kalaiselvan, owner of a travel company, was in for a shock on March 25, two days after the lockdown first began, when his father allegedly received a call from a collection agent from Cashbean, a payday loan app, claiming that his son was a defaulter. Kalaiselvan had borrowed Rs 15,000 from the loan app […]
Flipkart investor’s stake sale a bid to avoid tax: Authority of Advance Ruling
The Authority of Advance Ruling (AAR) has said a Rs 14,500-crore transaction in 2018 where a private equity investor sold its stake in Flipkart to US retail major Walmart was prima facie designed to avoid tax. The AAR Mumbai bench’s decision means other investments that were routed through Mauritius too could come under the scrutiny […]
Zuckerberg stands firm in refusal to moderate Trump despite employee walkouts and resignations
The founder and CEO of Facebook Mark Zuckerberg speaks during the 56th Munich Security Conference in Munich, southern Germany, on February 15, 2020. Christof Stache | AFP | Getty Images Facebook CEO Mark Zuckerberg on Tuesday told employees he was standing firm in the company’s decision not to moderate a post in which President Trump said “when […]
Adopt a ‘different mindset’ before going indie
When advisors dream about launching their own RIA, they get starry eyed about finally being in charge of their own practices. What trips them up, however, are the details. The time and cost of keeping up with regulatory changes, for one. After jumping from the institutional fixed-income world almost 30 years ago, Michael Joyce, founder […]
U.S. auto sales in May encourage Detroit plan to rebuild inventories
DETROIT (Reuters) – Several automakers on Tuesday reported stronger-than-expected May sales in the United States, and the Detroit automakers said they will work through their annual summer shutdowns to rebuild inventories as demand recovers from coronavirus shutdowns. The U.S. auto sector has reopened assembly plants following the shutdown and automakers that reported May sales said […]