China’s Didi invests in Taxify, an Uber rival operating in Europe, Africa

Businessam StaffAugust 1, 2017

Didi Chuxing, the ride-sharing company that forced Uber out of China, has expanded its increasingly global empire after it made an undisclosed investment in Taxify, an Uber-like service that operates in Europe and Africa. Four-year-old Taxify is headquartered in Estonia — three of its founders are ex-Skype — and today it operates in 18 countries, […]

Twitter shares tumble as flat user growth disappoint investors

Businessam StaffJuly 27, 2017

Twitter Inc shares tumbled more than 10 percent in premarket trading on Thursday after the social media platform disappointed investors with stagnant monthly active user growth in the second quarter. Despite its appeal among celebrities and public figures, Twitter has struggled to sustain its closely watched user growth even as it invested in features and […]

Qualcomm accuses tech group of ‘misdirecting’ trade regulators

Businessam StaffJuly 25, 2017

Qualcomm Inc fired back in its case against Apple Inc on Monday, accusing its critics of waging a “coordinated effort aimed at misdirecting” trade regulators. Earlier this month, Qualcomm filed a complaint with the U.S. International Trade Commission seeking to ban iPhones that use chips “other than those supplied by Qualcomm affiliates.” Apple began using […]

Goldman Sachs hunt for tech talent forces it to relax dress code  

Businessam StaffJuly 13, 2017

In its bid to attract the best tech talents to its establishment, Wall Street, bank Goldman Sachs, has relaxed its traditional buttoned-up dress code for computer engineers in its employment. Such talents are known to prefer a more casual environment. In a report filed by news agency Reuters, Goldman Sachs, the fifth-largest U.S. bank by […]

Microsoft is closing its Surface Hub manufacturing plant in the US

Businessam StaffJuly 13, 2017

Microsoft is closing its US manufacturing plant for the company’s Surface Hub. The software giant has been manufacturing and selling its 84-inch 4K displays for more than a year, but Microsoft is now moving its manufacturing efforts elsewhere. The Oregonian reports that 124 jobs will be cut from the Surface Hub plant in Oregon that […]

Wall Street Journal adds top jobs in digital push

Businessam StaffJuly 13, 2017

The Wall Street Journal said on Wednesday it was adding more than a dozen new senior positions in a newsroom revamp to deliver news faster, with more visuals, as readers increasingly rely on smartphones, Reuters reports. Matt Murray, Deputy Editor in Chief will be promoted to executive editor, and editors for digital content strategy and […]

Samsung Electronics tips record 2nd quarter profit as memory prices surge

Businessam StaffJuly 7, 2017

Samsung Electronics Co Ltd on Friday said its second-quarter operating profit likely rose 72 percent from a year earlier to a new record, beating analyst estimates, as strong memory chip prices helped widen margins. The Apple Inc  smartphone rival and global memory chip leader said second-quarter operating profit was likely 14 trillion won ($12.11 billion), […]

Samsung plans $18.6 billion South Korea investment to widen chip lead

Businessam StaffJuly 4, 2017

Samsung

Samsung Electronics Co Ltd (005930.KS) said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs. The investment underscores Samsung’s determination to widen its lead in memory chips, which are […]

Pressure mounts on China’s LeEco as bank seeks to have assets frozen

Businessam StaffJuly 4, 2017

Chinese tech group LeEco, which has interests ranging from smart cars to online content, is facing growing pressure from its creditors and business partners, with one bank wanting some of its assets frozen by a Shanghai court over late payments. The latest financial woes have surfaced days after its founder and CEO Jia Yueting said […]