Huawei founder, executives to pay $469,000 fine over quality breaches
Ajose Sehindemi
January 19, 2018
Ren Zhengfei, HUAWEI Technologies co-founder, and top executives will pay a self-imposed fine totaling $469,000 for management oversight of some quality breaches at the firm, an internal company memo shows on Friday. According to a notice sent to Huawei member of staff, Ren said there had been cases of “quality breach and business falsification” at […]
UK Royal Mail taps into e-commerce as Nigeria’s NIPOST nears unbundling
Edidi AbdulrafiuJanuary 18, 2018
UK Royal Mail has effectively tapped into logistics deployment, becoming the number one promoter of e-commerce in the United Kingdom, according to Moya Greene, the chief executive officer. This comes as its Nigerian counterpart, Nigerian Postal Services (NIPOST) is being considered for unbundling to have standalone business components that will project it for efficient service and […]
Samsung tops list of capital spenders in 2017 with $44bn.
Businessam StaffJanuary 10, 2018
South Korea’s Samsung Electronics Co. spent $44 billion in 2017 on capital expenditure than any other publicly traded company, according to S&P Global Market Intelligence report. The report shows how technology and telecommunications firms are driving an uptick in manufacturing investment. The South Korean tech giant nearly doubled its investment in new or existing facilities […]
Nokia earnings fall short of forecasts amid weak demand for network equipment.
Businessam StaffOctober 26, 2017
Finnish network operator, Nokia Corp. has disclosed Thursday an abrupt drop of seven percent in its quarterly earnings from its telecommunications and network equipment business, saying global demand for the aforementioned equipment remains weak. The Finland-based network operator blamed the market saying it had become more challenging due to tough competition in China and consolidation […]
Transferwise resumes Nigeria money transfers after 17-month break, citing confidence in naira
Businessam StaffOctober 20, 2017
Money transfer company Transferwise has resumed remittances to Nigeria after a 17-month break, having confidence in the central bank’s handling of the naira, Kristo Kaarmann, its chief executive said Friday, according to Reuters report. Remittances or money transfers make up the second-largest source of foreign exchange receipts in Africa’s biggest economy, after oil revenues. Around […]
New Uber CEO hints at 2019 IPO as he rakes over troubled startup
Businessam StaffAugust 31, 2017
One of Dara Khosrowshahi’s first tasks at Uber Technologies Inc. will be coming up with a new set of core principles. Uber’s board ripped up parts of the original list of 14 corporate values, authored years ago by co-founder Travis Kalanick, after they were used by employees to justify malicious behavior around the office. Rewriting […]
Germany’s Aldi takes on Amazon in food delivery fight
Businessam StaffAugust 16, 2017
Germany’s Aldi is stepping up the fight for a share of the U.S. grocery market with a new express delivery service. Aldi, which already operates nearly 1,700 stores in America, said it is partnering with San Francisco’s Instacart to deliver groceries in Los Angeles, Atlanta and Dallas. It’s promising to fulfill online orders in as little as […]
Uber looks to Hewlett Packard Enterprises’ Meg Whitman in CEO search
Businessam StaffJuly 26, 2017
In a bid to fill its leadership vacuum, ride sharing giant Uber has been searching for a new CEO. And among its candidates is reportedly Hewlett Packard (HPE, +0.22%) CEO Meg Whitman. According to Bloomberg, Whitman has recently been meeting with the troubled company’s leadership. Uber has reportedly developed a short list of less than […]
Netflix surges on strong subscriber growth
Businessam StaffJuly 18, 2017
Netflix on Monday announced adding more than 5 million subscribers in the June quarter, bringing its total subscriber base to about 104 million. According to CNN, the vast majority of new subscribers — more than 4 million — came from its overseas markets. In fact, Netflix’s international subscriber base is now larger than the U.S. […]
Oracle set to add 1,000 employees in European cloud push
Businessam StaffJuly 18, 2017
Oracle Corp. is hiring 1,000 employees in Europe, the Middle East and Africa as it expands its cloud computing services in the region. The company is looking for workers with between two to six years of experience to staff sales, management, finance, recruitment, marketing and human resources roles for its cloud computing service, Oracle said […]