Business News

Chinese business tycoon shells USD 100M to build 'Star Trek-like' offices

Chinese business tycoon shells USD 100M to build 'Star Trek-like' offices

Washington, May 26 - A Chinese millionaire has spent a whopping 100 million dollars to create an office block just like ' Star Trek's USS Enterprise.

Chinese game developer NetDragon's founder, Liu Dejian, who's on the board of search giant Baidu, spent a 600 million yuan (97 million) to create the 260-meter long building, the Verge reported.

The 43-year-old technology executive, who's believed to be a huge fan of the series, had even contacted the TV show's rights holder CBS to get the approval for construction, which they had thought to be a joke at first.

The USS Enterprise also appears in Google Maps. (ANI)


Iran nuclear deal 'will have my name on it': Obama

Business News

Washington : President Barack Obama says he has a personal stake in making sure that a nuclear agreement with Iran delivers on its promise.

He says he will not accept a bad deal. He adds: "This deal will have my name on it."

Obama was speaking to Congregation Adas Israel in observance of Jewish American Heritage Month. The appearance coincides with Solidarity Shabbat, devoted to showing unity by political leaders in Europe and North America against anti-Semitism.

He sought to reassure the Jewish community that he shared Israel's commitment to Iran not obtaining a nuclear weapon.

But he says that doesn't mean there shouldn't be periodic disagreements between the governments of the US and Israel.


Facebook hires Ex- FCC chairman to salvage Internet.org from net neutrality row

Facebook hires Ex- FCC chairman to salvage Internet.org from net neutrality row

Washington, May 14 : Facebook has reportedly hired a former FCC chairman, Kevin Martin, to handle its policy on mobile and global access, as it faces flak over its approach to net neutrality.

Martin, a Republican who led the FCC from 2005 to 2009, was involved in a major net neutrality fight in 2008, as Comcast was caught throttling peer-to-peer internet traffic. He also voted against other Republican FCC commissioners to censure Comcast on the practice. The order was eventually thrown out, setting the stage for this year's heated debate on net neutrality, reported The Verge.

The FCC chairman supported ideas like the unbundling of cable TV packages and made "balancing deregulation and consumer protection" a cornerstone of his policy.


Uber poaches head of US's biggest tech lobby from Google

Uber poaches head of US's biggest tech lobby from Google

Washington, May 14 : Uber has reportedly roped in Rachel Whetstone, the veteran head of Google's public policy and communications unit, as its new SVP of policy and communications in a bid to help it navigate the choppy waters ahead as it faces a slew of legal cases in myriad countries around the globe.

Whetstone will replace another big name, former Obama advisor David Plouffe, who joined Uber last year. Plouffe will now move on to become a chief advisor and board member, reported The Verge.

The former Google public policy and communications head has previously worked on the tech giant's issues with the EU and FTC in the United States.


Uber picks Indian city of Hyderabad to begin testing cash payment

Uber picks Indian city of Hyderabad to begin testing cash payment

Washington, May 13 - India is set to be the first country across the globe where Uber will begin testing cash payment system as the firm announced its decision to roll out the initiative on an experimental basis in the Indian city of Hyderabad.

A blog post published by the company said that the decision was aimed at testing the payment system in a part of the world where many consumers prefer to pay for services in cash, reported The Verge.

Siddharth Shanker, GM of Uber Hyderabad, said in an email statement that cash played "a big role" for Indian consumers and as a data-driven company that has witnessed strong growth in India, Uber thought time was ripe to "explore the extent of this predisposition."


AOL CEO says TechCrunch will continue to be in content business post Verizon takeover

AOL CEO says

Washington, May 13 - After Verizon struck an agreement to buy AOL in a 4.4 billion dollar deal, the latter's CEO Tim Armstrong has gone on record to say that TechCrunch is not getting sold-off.

While the deal may mean that AOL will spin-off its news website, The Huffington Post, but the company is keen on keeping TechCrunch in the content business, reported TechCrunch.

Armstrong said that the website was keeping all options on the table but added that there will be editorial independence. He also said that from the point of view of distribution and resource, the deal was the most exciting they could have done.


US must write rules for global trade not China: Obama

US must write rules for global trade not China: Obama

Washington : President Barack Obama has strongly argued in favour of an international trade agreement, saying that the US must write the rules for global economy and not China that may put American workers and products at a disadvantage in the absence of a level playing field.

"In a lot of parts of the world, the rules are unfair. The playing field is uneven. That puts American businesses and workers at a disadvantage... We have to make sure America writes the rules of the global economy. We should do it today while our economy is in the position of global strength," said the US President.


Indian startup Toppr . com scoops $10 mln from Fidelity Growth, SAIF, Helion Ventures

Indian startup Toppr . com scoops $10 mln from Fidelity Growth, SAIF, Helion Ven

Washington, May 08 - Indian startup Toppr. com, which helps students prepare for entrance examinations, have reportedly scooped 10 million dollars from Fidelity Growth Partners India, SAIF Partners, and Helion Ventures.

Founded in 2013, the Mumbai-based firm helps students preparing for engineering and medical entrance exams, reported TechCrunch.

Co-founder Zishaan Hayath said that Toppr. com was founded with an aim to make entrance test preparations affordable for as many students as possible as schools did not offer adequate preparation for those who wanted to go for higher education. As a consequence, they had to turn to private coaching.


Leaked Sony emails reveal CEOs not so hot for super-heroines

Leaked Sony emails reveal CEOs not so hot for super-heroines

Washington, May 7 : A leaked email exchange between Marvel CEO Ike Perlmutter and Sony CEO Michael Lynton has revealed that they don't believe female superheros are profitable.

The email appears to be a follow-up to a phone conversation between the two men and bears the blunt subject-line "Female Movies," in which Perlmutter describes 'Elektra' as "very, very bad" at the box office, 'Catwoman' as a "disaster" and the 1984 release 'Supergirl' as "again, another disaster," the Fox News reported.

The emails were uncovered in the wake of 'Avenger' stars Chris Evans and Jeremy Renner's jokes calling Scarlett Johansson's character, Black Widow, a "slut." (ANI)


Indian e-commerce logistics startup Delhivery raises 85 mln dollar funding

Indian e-commerce logistics startup Delhivery raises 85 mln dollar funding

Washington, May 07 : Indian e-commerce logistics startup Delhivery has raised 85 million dollars funding in a series D round led by Tiger Global Management and returning investors Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited.

According to TechCrunch, less than eight months ago, the company raised 35 million dollars in series C.

Delhivery currently has 10,000 employees in more than 200 cities.

Delhivery's 11 fulfillment centers cover more than one million square feet of warehouse space, which it plans to increase to 2.5 million square feet by the end of this year. (ANI)


Al Jazeera America 'pink-slips' CEO amid legal, corporate turmoil

Al Jazeera America 'pink-slips' CEO amid legal, corporate turmoil

Washington, May 07 - Al Jazeera America has fired its CEO Ehab Al Shihabi following 15 million dollar lawsuit over accusations of anti-Semitic, anti- American and anti-woman bias.

According to Deadline. com, Shihabi has been replaced by Al Anstey, effective immediately.

The new CEO said that he was quite pleased to return to the US to continue to hold the excellent organization standards at the channel.

Anstey was the Managing Director of Al Jazeera English until the sudden promotion.

Related Previously, the new CEO was the head of Foreign News at the UK's ITN. (ANI)


Google Venture's Bill Maris says Uber fastest growing company his team has ever seen

Google Venture's Bill Maris says Uber fastest growing company his team has ever

Washington, May 06 : Google Venture's Bill Maris has said that Uber is the fastest-growing company that his team has ever seen and invested in.

According to Tech Crunch, Maris said that he felt "content" with what Uber was doing to sort the privacy question.

Maris said that the Google Venture group is still growing.

He also disclosed that Google Venture recently opened an office in London and hired four new partners. (ANI)


Uber's updated 'panic button' will send live GPS updates to police in India

Uber's updated 'panic button' will send live GPS updates to police in India

Washington, May 01 : A month after adding a panic button to its app in India following the rape of a female passenger last year, Uber has now announced that it will start improving the button in a significant way.

By activating the SOS button, Uber passengers in Kolkata will now be able to send live GPS updates to local police, provide police with information on the driver, and send details on the passenger reporting the issue, in addition to initiating a phone call with the police, as it already did. The new features are expected to be rolled out in other cities subsequently, reported The Verge.

The information, which will appear on a display that Uber installs for the local police, will enable them to track an Uber vehicle. (ANI)


Yahoo CEO Marissa Mayer raked in 42.1 mln dollars in 2014

Yahoo CEO Marissa Mayer raked in 42.1 mln dollars in 2014

Washington, Apr 30 : Yahoo CEO Marissa Mayer 's 2014 compensation increased 69 percent to 42.1 million dollars.

According to Deadline.com, Mayer took over in July 2012 when Yahoo shares were depressed.

Mayer's package, detailed in a proxy filed at the SEC, includes 1 million dollars in salary, 11.8 million dollars in stock awards, 28.2 million dollars in option awards, 1.1 million dollars in non-equity incentives, and 28,065 for other compensation.

The last category includes 26,891 dollars for security. Directors said that a "substantial portion" of the equity awards were part of her 2012 recruitment package and were worth 15 million dollars when the company approved them.
(ANI)


Samsung overtakes Apple to become world's biggest smartphone vendor in Q1 of 2015

Samsung

Washington, Apr. 30 - Samsung has overtaken Apple to become the world's biggest smartphone vendor in the first three months of 2015 but the company's profit has continued to drop.

According to the Verge, Samsung has shipped beyond 80 million devices in the first three months of 2015 as Apple's total came down to 61 million.

In total, Samsung reported earnings of roughly 44 billion dollars for the quarter ending March 31st, resulting in an operating profit of 5.6 billion dollars.

As Apple's high volume is matched by a consistently high average selling price, the growth for Samsung has come from its less profitable mid-range and low-end devices like the Galaxy A, E, and J series. (ANI)


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