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Current Affairs on Companies

Current affairs on 20 April 2017

Flipkart appoints Goldman Sachs for merger

  1. Flipkart has appointed Goldman Sachs as an advisor for the “proposed acquisition” of rival Snapdeal.
  2. Flipkart in the month fo April 2017 had already announced its acquisition of eBay.in as part of a $1.4 billion fundraising round.
  3. Snapdeal has raised about $1.65 billion from about two dozen investors, including SoftBank and SoftBank-backed Chinese e-commerce company Alibaba.

Current affairs on 18 April 2017

Cisco launched 1st in India cyber range lab in Gurugram

  1. US-based tech giant Cisco launched its fifth global and 1st Indian cyber range lab in Gurugram, Haryana which was inaugurated by National Cyber Security Coordinator Gulshan Rai.
  2. Cyber range lab is launched with an aim to train Indian firms and government agencies on real-world cyber attacks. 
     
Posted on: 18th April 2017 Read complete Article →

Toshiba group issued notification that it may not be able to continue in business

  1. Toshiba, 142-year-old Japanese global conglomerate on 11 April 2017 warned that it may not be able to continue as a going concern as it is grappling with billions of dollars in losses and also raised speculation of a possible delisting from the Tokyo Stock Exchange
  2. Company had posted an operating loss of 576.3 billion yen ($5.2 billion) for the nine months ended 31 December 2016. It had earlier missed two previous deadlines for financial results.
  3. The group has inflicted billions of dollars in losses from its Westinghouse Electric nuclear business, which had filed for bankruptcy in the US last month. The nuclear business write-down has pushed Toshiba’s liabilities beyond its level of assets.

Current affairs on 12 April 2017

Facebook launches digital assistant 'M' in US
  1. Social Media gaint Facebook launched its digital assistant named 'M' for US users of its Messenger application, ramping up the social network's efforts in artificial intelligence.
  2. M will pop up and suggest helpful actions in the chat window as it uses artificial intelligence and suggests relevant actions to help manage conversations or help get things done. 
Posted on: 12th April 2017 Read complete Article →
Flipkart Buys eBay India

India's largest e-commerce player Flipkart in April 2017 buys eBay's India business and closing a $1.4 billion fund-raising round from Tencent, eBay and Microsoft. 

eBay has agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart by exchanging an equity stake in Flipkart. 

Tesla Inc. became the most valuable US car maker
  1. For the first time in the history, the most valuable US car maker is not based in Detroit as Tesla Inc. became the most valuable US car maker on 10 April 2017 overtook General Motors.
  2. Its market value of $50.887 billion exceeded GM’s by about $1 million.
  3. Tesla Inc. is based in Palo Alto, California and is primarily engaged in manufacturing electric cars and Lithium-ion battery energy storage for cars.

Current affairs on 03 April 2017

Amazon makes entry in UAE by acquiring Souq.com

Amazon, the USA based e-commerce giant made its entry in UAE by acquiring Souq.com, the Middle East’s largest online retailer. Souq.com, based in Dubai is the largest e-commerce platform in the Arab world offering more than 400,000 products such as consumer electronics, fashion products, and household goods.

Posted on: 03rd April 2017 Read complete Article →
Paytm, The first e-commerce company to become ASCI member

Paytm is all set to become a member of the self-regulatory voluntary organization Advertising Standards Council of India (ASCI) from April, 2017. Paytm is backed by Alibaba has also set up a new company named Paytm Financial Services, which will sell financial products like insurance and mutual funds to its planned payments bank account holders.

Current affairs on 07 March 2017

Facebook launches SheLeadsTech to support women-founded or co-founded startups.
  1. Social networking site Facebook on launched a new initiative, SheLeadsTech.
  2. SheLeadsTech will give women-founded or co-founded start-ups access to a year-long program that provides tools, mentorship and resources.
Posted on: 07th March 2017 Read complete Article →
Cognizant buys Japanese digital firm Brilliant Service Co
  1. American multinational corporation Cognizant has made a deal to acquire Japanese digital firm Brilliant Service Co.
  2. Brilliant Service Co. is specialized in intelligent products and solutions, digital strategy, product design and engineering, the Internet of Things, and enterprise mobility.
  3. Hence, this acquisition will help cognizant to foster its digital transformation portfolio and capabilities to enable clients to build connected and collaborative businesses.
Posted on: 07th March 2017 Read complete Article →