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SoftBank reports unexpected loss of $3.3 bn in Q1 Japanese investment giant SoftBank on Tuesday reported an unexpected loss of 477,616 billion yen ($3.3 billion) in the first quarter (Q1) covering April-June, despite an investment gain from its massive tech-focused Vision Fund. The Vision Fund investment unit, through which SoftBank invests in high-growth technology companies, reported a profit of $1.1 billion in the June quarter, reports CNBC. The company, which has been reducing its stake in Alibaba in order to recoup losses from las...
SoftBank reports unexpected loss of $3.3 bn in Q1
SoftBank reports unexpected loss of $3.3 bn in Q1
Source: IANS
8/08/2023 2:42:24 PM
Apple launches store on China's WeChat messaging app Apple on Tuesday launched an online store on Tencent's WeChat messaging app in China. With over 1.2 billion users, WeChat is China's largest messaging platform and is often referred to as a "super app" because it offers more than just instant messaging.  According to CNBC, the tech giant has launched the online store to the app via WeChat's so-called "Mini Programmes", which are effectively apps within WeChat, meaning users will no longer need to downlo...
Apple launches store on China's WeChat messaging app
Apple launches store on China's WeChat messaging app
Source: IANS
11/07/2023 5:42:20 PM
India tribunal allows Jet Airways ownership transfer to consortium BENGALURU  - India's national company law tribunal has allowed the ownership of carrier Jet Airways to be transferred to the Jalan-Kalrock consortium, news channel CNBC TV 18 reported on Friday.
India tribunal allows Jet Airways ownership transfer to consortium
India tribunal allows Jet Airways ownership transfer to consortium
Source: Reuters
13/01/2023 3:40:19 PM
US inflation rate drops to 6.5%, driven by lower petrol prices The US annual inflation rate dropped in December to an annualised rate of 6.5 per cent, the lowest increase since October 2021, the Labour Statistics agency reported on Thursday. As a measure of inflation, the consumer price index (CPI) increase last month was lower than the 7.1 per cent reported in November. The Bureau of Labour Statistics said the drop was aided by the cooling of petrol prices which led to a decrease of the energy index by 4.5 per cent even as other components of the ...
US inflation rate drops to 6.5%, driven by lower petrol prices
US inflation rate drops to 6.5%, driven by lower petrol prices
Source: IANS
13/01/2023 9:18:32 AM
India finance minister seeks restriction on platinum alloy imports - Media NEW DELHI - India's finance minister has asked the commerce ministry to issue a notification on restricting imports of platinum alloy, CNBC TV18 reported on Wednesday, citing sources. The finance ministry did not immediately respond to a request for comment.
India finance minister seeks restriction on platinum alloy imports - Media
India finance minister seeks restriction on platinum alloy imports - Media
Source: Reuters
11/01/2023 4:44:43 PM
YouTube inks $2 bn annual deal for NFL `Sunday Ticket` Google-owned YouTube has inked a $2 billion annual deal with the National Football League to acquire exclusive rights for the Sunday Ticket, a subscription-only package that allows football fans to watch most Sunday afternoon games. The deal will run for seven years, reports CNBC, citing sources. Sunday Ticket will be available in two ways starting in 2023-24 -- as an add-on package on YouTube TV and as an a la carte option on YouTube Primetime Channels, where users can subscribe to spe...
YouTube inks $2 bn annual deal for NFL `Sunday Ticket`
YouTube inks $2 bn annual deal for NFL `Sunday Ticket`
Source: IANS
23/12/2022 12:42:34 PM
After iPhones, Apple now plans to shift some iPad production to India As Apple plans to shift more iPhone production away from cto India, it is now reportedly looking to also move the production of some iPads to India to keep its supply chain healthy amid Covid-related disruptions. Apple has "talked to Indian officials about locating some iPad manufacturing in the country as US-China relations sour and China's Covid crackdowns snarl supply chains," reports c, citing sources. Apple is planning to shift iPad manufacturing to India as the compa...
After iPhones, Apple now plans to shift some iPad production to India
After iPhones, Apple now plans to shift some iPad production to India
Source: IANS
6/12/2022 12:31:46 PM
Indian government panel favours ending control on pricing of gas from old blocks from 2027 An Indian government panel has recommended ending control on pricing of gas output from old blocks from January 2027, the head of the panel, Kirit Parikh, said on Wednesday in an interview with CNBC TV18. Output from old blocks account for about 80% of India's annual gas output of 91 billion cubic metres. Parikh also confirmed other panel recommendations reported by Reuters on Tuesday.
Indian government panel favours ending control on pricing of gas from old blocks from 2027
Indian government panel favours ending control on pricing of gas from old blocks from 2027
Source: Reuters
30/11/2022 4:12:43 PM
Alibaba to sell shares worth $200 mn in Zomato: Report Chinese behemoth Alibaba is set to sell its shares worth $200 million in Zomato via a block deal on Wednesday, the media reported. According to CNBC Awaaz, citing sources, Ant Financial and Alipay would bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent. "The block deal is said to happen at a discount of about 5-6 per cent," said the report. Zomato refused to comment when contacted by IANS. Zomato'...
Alibaba to sell shares worth $200 mn in Zomato: Report
Alibaba to sell shares worth $200 mn in Zomato: Report
Source: IANS
30/11/2022 9:36:03 AM
Multicoin expects FTX contagion to grip crypto industry for weeks Multicoin Capital, a crypto venture firm, has told investors that the collapse of FTX and the price drop across the industry has pushed the fund down 55 per cent this month, and that worse is on the way before the market recovers. Multicoin said there is a chance the firm will recover some of its funds from FTX, but because these assets are now wrapped up in bankruptcy proceedings, it expects them to be marked below zero, reports CNBC. It's an abrupt reversal for Multicoin, which re...
Multicoin expects FTX contagion to grip crypto industry for weeks
Multicoin expects FTX contagion to grip crypto industry for weeks
Source: IANS
20/11/2022 3:23:43 PM
Apple likely to unveil foldable iPad in 2024 Amid several rumours of foldable iPhones in the recent past, a new report said that global technology brand Apple may launch its first foldable iPad rather than iPhone in 2024. According to CNBC, analyst firm CCS Insight forecasted that the technology giant will begin experimenting with foldable technology soon. "Right now it does not make sense for Apple to make a foldable iPhone. We think they will shun that trend and probably dip a toe in the water with a foldable iPad," Be...
Apple likely to unveil foldable iPad in 2024
Apple likely to unveil foldable iPad in 2024
Source: IANS
18/10/2022 4:46:31 PM
Don't equate fun with money: Sundar Pichai to employees Alphabet and Google CEO, Sundar Pichai, has advised employees not to mix fun with earning more money, as little things in life can bring more joy than what money can buy. In a recent interaction with employees, Pichai was bombarded with questions from employees related to travel and entertainment budget cuts, productivity, hybrid work and potential layoffs, reports CNBC. "I remember when Google was small and scrappy. We shouldn't always equate fun with money. I think you can wa...
Don't equate fun with money: Sundar Pichai to employees
Don't equate fun with money: Sundar Pichai to employees
Source: IANS
28/09/2022 10:02:44 AM
L&T Technology Services, ISG and CNBC TV18 Launch First-Ever Digital Engineering Awards L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leading pure-play engineering services company, today announced thelaunch of the first-everDigital Engineering Awards, in association with Information Services Group (ISG), a leading global technology research and advisory firm, and business news channel CNBC TV18 in India. TheDigital Engineering Awardsrecognize outstanding leaderswho challenge the status quo with innovative approaches that maximize performance and valu...
L&T Technology Services, ISG and CNBC TV18 Launch First-Ever Digital Engineering Awards
L&T Technology Services, ISG and CNBC TV18 Launch First-Ever Digital Engineering Awards
Source: PR Agency
22/09/2022 12:06:21 PM
Twitter urges shareholders to approve sale to Musk in revised proxy filing  Microblogging site Twitter's board of directors unanimously recommended that its shareholders vote to approve tech billionaire Elon Musk's $44 billion acquisition of the company. Twitter said in a proxy filing with the Securities and Exchange Commission (SEC) on Friday that it is inviting shareholders to attend a special meeting at an unspecified date to vote on a proposal to adopt the original acquisition plan made in late April, reports CNBC. "We are committed to cl...
Twitter urges shareholders to approve sale to Musk in revised proxy filing
Twitter urges shareholders to approve sale to Musk in revised proxy filing
Source: IANS
16/07/2022 10:04:18 AM
Indian government likely to stick to fiscal deficit target, says RBI chief MUMBAI -The Indian government is likely to stick to its fiscal deficit target as specified in the budget and there may not necessarily be a need for increasing government borrowing just yet, governor Shaktikanta Das told CNBC-TV18 in an interview on Monday. India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation. Experts said the moves will likely increase fiscal concerns and...
Indian government likely to stick to fiscal deficit target, says RBI chief
Indian government likely to stick to fiscal deficit target, says RBI chief
Source: Reuters
23/05/2022 2:52:21 PM
Amazon, Visa to end global dispute over credit card fees Tech giant Amazon has reportedly reached a global agreement with Visa to settle a dispute over the credit card giant's fees. The deal means Amazon customers in the UK can continue using Visa credit cards, as previously announced by the two companies, CNBC reported. Amazon will also drop a 0.5 per cent surcharge on Visa credit card transactions in Singapore and Australia, which it introduced last year. Last month, Amazon said it had dropped plans to stop accepting Visa credit card...
Amazon, Visa to end global dispute over credit card fees
Amazon, Visa to end global dispute over credit card fees
Source: IANS
18/02/2022 9:01:51 AM