Snapdeal’s Shopo Marketplace to Shut Down on Friday Snapdeal-owned marketplace Shopo will close down from February 10, after a year and a half of operations. The move comes at a time when Snapdeal is aggressively looking at optimising costs amid intense battle with Flipkart and Amazon. “We started, a year and a half ago, from a small conference room with ... Read More »
Consumer sales have seen a 25-30 percent hit in past few weeks due to twin impact of demonetisation and seasonal slowdown post Diwali, country’s third largest handset maker Micromax said today. While online sales suffered due to cash crunch in the aftermath of demonetisation, the company’s supply chain saw a 15-18 percent decline in sales in the last few weeks. ... Read More »
South Korea’s industrial output fell in October as Samsung Electronics discontinued its latest flagship Galaxy Note 7 smartphones, a government report said on Wednesday. Production in all South Korean industries dipped 0.4 percent in October as railway workers went on strikes, Xinhua news reported. Production slid further from previous months according to Statistics Korea. Samsung ending production and sales of ... Read More »
HIGHLIGHTS Attackers hijacked CCTV cameras made by Xiongmai using malware Mirai All cameras made before September 2015 were potentially vulnerable The attack took down sites including Twitter, Spotify and CNN A Chinese security camera maker said its products were used to launch a cyber-attack that severed internet access for millions of users, highlighting the threat posed by the global proliferation ... Read More »
Imagination Tech CEO Steps Down; Warns of Operating Loss Imagination Technologies, a supplier of graphics technology to Apple, said its chief executive Hossein Yassaie had quit, departing as the British company warned it would make an operating loss this year. Non-executive director Andrew Heath had been appointed interim chief executive, the company said on Monday, adding that it would take ... Read More »
Spotify CEO Daniel Ek Becomes Chairman as Co-Founder Steps Down Spotify co-founder and Chief Executive Officer Daniel Ek is consolidating power over the world’s largest music streaming service, taking on the role of chairman ahead of a planned initial public offering as soon as next year. Martin Lorentzon, a co-founder of Spotify, is stepping down from his role as chairman ... Read More »
Amazon Cracks Down on ‘Incentivized Reviews’ on Marketplace Amazon.com Inc. is tightening controls on “incentivized reviews,” in which customers receive free or discounted goods in exchange for writing product critiques that many shoppers use when making online purchases. Amazon previously allowed such reviews to help new products pick up traction on its marketplace, as long as the person writing the ... Read More »
HIGHLIGHTS 360,000 the total number of accounts sidelined since the middle of 2015 Tech titans have been enlisting software to battle extremist propaganda Getting quicker at identifying extremist content and shutting down accounts involved Twitter announced Thursday that it had cut off 235,000 accounts during the past six months in a heightened crackdown on use of the global messaging service ... Read More »
However, the health ministry has approved the establishment of 11 medical colleges for 2016-17. Photo: Rajendra Gawankar/HT New Delhi: The Union health ministry has turned down proposals for setting up of around 83 medical colleges based on the recommendations of Medical Council of India (MCI). The ministry has also denied permissions to 47 medical colleges in various states to expand ... Read More »
Has the Twitter success story run its course? That’s the question being posed on Wall Street after Twitter reported disappointing revenue growth in the first quarter of 2016 recently. In the first quarter, Twitter reported $595 million in revenue, well below the $607.8 million that analysts were expecting. The company added 5 million users, but fell short of the growth that ... Read More »
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