Online ticket booking company BookMyShow has laid off or furloughed 270 employees, making it the latest entrant in a list of well-funded consumer internet companies to have fired workers in the wake of the economic crisis due to the Covid-19 pandemic. The company has been forced to downsize due to the “unfavourable environment,” said Ashish […]
TikTok owner ByteDance moves to shift power out of China: Sources
TikTok‘s poaching of Disney’s Kevin Mayer to be its CEO was just the most visible part of a broader strategy by its Chinese owner to shift its centre of power away from China at a time of rising global tensions, several people familiar with the plans said. The short video app’s parent company ByteDance has […]
Online gaming firms explore ways to keep users engaged
Online casual gaming firms saw traffic surge just days into the nationwide lockdown that began on March 25, industry players told ET, as people spent more time indoors and as first-timers took the plunge into internetgaming. Casual gaming is targeted at a mass audience and normally requires a lower investment of time and money. Poker […]
After FB-Jio deal, Google eyes stake in Vodafone Idea: Report
Google is said to be exploring an investment in Vodafone Idea, about a month after rival Facebook picked up a 9.99% stake in RIL-owned Jio Platforms, the Financial Times reported, citing people familiar with the matter. It said that Google is looking to pick up a 5% stake in India’s second-largest telecom operator, which is […]
Instagram to start sharing revenue with creators
Instagram is rolling out new features that will enable content creators to make money directly from the platform, as it looks to retain talent amid growing competition from rivals TikTok and YouTube. The Facebook-owned video and photo sharing platform will start sharing revenue with creators through ads on its long-form video service IGTV and purchase […]
Tencent raises $6 billion in largest Asian corporate debt deal this year
Tencent has raised $6 billion in debt, the Chinese technology company said on Thursday, in the largest debt deal by an Asian corporate in 2020. The deal was finalised early on Thursday in which Tencent raised $1 billion in five-year debt, $2.25 billion in 10-year, $2 billion in 30-year and $750 million in 40-year debt, […]
Online fraudsters find new victims in midst of lockdown
Representative image Although economic activity has come to a near standstill due to the lockdown, there is no let-up in online crime. Fraudsters have been managed to steal from hundreds of bank accounts by either impersonating acquaintances of account holders, tricking tipplers desperate to buy liquor online or deceiving those searching for service providers. Last […]
Visa, Mastercard urge RBI to relax limits on ‘tap and go’ payments
Visa and Mastercard along with the Payment Council of India (PCI) have suggested the Reserve Bank of India to relax the limit on contactless transactions through debit and credit cards allowed without PIN to Rs 5,000 from the current Rs 2,000. The proposed relaxation on ‘tap and go’ payments could make card purchases safer for […]
Donald Trump threatens to shut social media companies after Twitter fact check
President Donald Trump threatened to regulate or shutter social media companies — a warning apparently aimed at Twitter Inc after it began fact-checking his tweets. In a pair of tweets issued Wednesday morning from his iPhone, Trump said that social media sites are trying to silence conservative voices, and need to change course or face […]
Thank you
Rather than trying to do this individually, I just wanted to say a huge thank you for the outpouring of support we’ve received from my post about bringing the firm through the coronavirus pandemic so far. We heard from many clients, whose words I can’t reprint here because of the “testimonial rule” but it meant […]