Essential Products, a consumer electronics startup founded by the former Google executive Andy Rubin, said on Wednesday that it was ceasing operations. Once considered one of Silicon Valley’s most promising hardware technology startups, Essential had raised $330 million in outside funding because of the track record of Rubin, who is widely credited with creating Google’s […]
Archives for 2020
Doesn’t look, feel, smell right when etailer makes Rs 6K cr loss on Rs 5K turnover: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Thursday asked e-commerce players to strictly adhere to FDI norms, saying it “certainly does not look and feel and smell right” when a company makes a loss of Rs 6,000 crore on a turnover of Rs 5,000 crore. Goyal, who had earlier remarked that e-commerce giant Amazon was […]
400M social media users are set to lose their anonymity in India
By Saritha RaiFacebook, YouTube, Twitter and TikTok will have to reveal users’ identities if Indian government agencies ask them to, according to the country’s controversial new rules for social media companies and messaging apps expected to be published later this month. The requirement comes as governments around the world are trying to hold social media […]
Shock as Sajid Javid quits as Chancellor
Chancellor Sajid Javid has quit just four weeks before he was due to deliver the first post-Election Budget on 11 March. It is believed his role will be taken by Chief Secretary to the Treasury Rishi Sunak but this has yet to be confirmed. Mr Javid, who had been Chancellor since last July, is believed […]
Kitces & Carl Ep 27: Handling The ‘Required Minimum’ Conversation Without Being Awkward
Executive Summary Many financial advisors have asset minimums to ensure that they generate enough revenue from each client to be compensated appropriately for the value they provide (and the business cost to deliver it). But when it comes to having conversations about net worth with prospective clients to find out if they qualify for those […]
Now, FabHotels sees a flurry of hotel checkouts
A story eerily similar to Oyo and its hoteliers seems to be playing out at FabHotels, with hotel owners and industry associations accusing the Gurgaon-based hotel aggregator of arbitrary termination of contracts, non-payment of dues and stoppage of minimum guarantee amounts. FabHotels has denied these allegations even as some hotel owners have filed cases against […]
Payment firms seek action against lax lenders, telcos
Illustration: Rahul Awasthi Top payment companies owned by global giants Google, Alibaba and Walmart are seeking regulatory and government intervention against alleged inefficiency at some banks and telcos in helping curb customer frauds. These are UPI based frauds where customer accounts are compromised after the victims are socially manipulated either through a targeted phone call […]
As coronavirus stifles China, economic logjams build worldwide
By Matt Phillips In Australia, after hauling hundreds of thousands of tons of iron ore to China, returning freighters can face a 14-day quarantine before being able to reload. BHP, which has headquarters in London and Melbourne and is one of the world’s largest copper mining companies, has been in talks to possibly delay shipments […]
WhatsApp announces it now has 2 billion users globally
Facebook owned messaging giant WhatsApp announced on Wednesday that it now has two billion users globally. Reiterating its stance on encryption in the global announcement, WhatsApp said strong encryption is a necessity in modern life and that it will not compromise on security because that would make people less safe. WhatsApp did not share market […]
Automakers not getting many cab rides now
Illustration: Rahul Awasthi A slowdown in the app-based cab aggregator space has hurt the sales of cars and utility vehicles to the segment, which fell to their lowest level in five years in 2019. Several automakers have arrangements with car aggregators such as Ola and Uber to sell vehicles to drivers who join their platforms. […]