Uber earnings hit hard as pandemic stalls revenue

UBER has reported a $1.8 billion loss in the recently ended quarter as the Covid-19 pandemic caused its shared-ride business revenue to plunge. Overall revenues skidded 29 per cent from a year ago to $2.2 billion, as gains from delivery failed to offset a massive 75 per cent drop in its ride-hailing bookings, San Francisco-based […]

Boeing gets over $2 billion order for missiles from Saudi Arabia

BOEING has been awarded two contracts worth more than $2 billion for the delivery of more than 1,000 air-to-surface and anti-ship missiles to Saudi Arabia, the Pentagon said. A first contract, worth $1.97 billion, is for the modernization of SLAM ER cruise missiles as well as delivery of 650 new missiles “in support of the […]

India, US should coordinate their efforts while opening up economy post-COVID-19 crisis: Mukesh Aghi

By Pramod Thomas Headquartered in Washington, the US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful strategic partnership between the two countries. It nurtures a vision of business and government coming together in new ways to create meaningful opportunities that have the power to change the lives of citizens. The USISPF estimates […]

Novartis, US agree to malaria drug trial against COVID-19

SWISS drugmaker Novartis on Monday (20) reached an agreement with the US regulators to hold a randomised trial of generic malaria drug hydroxychloroquine against COVID-19 disease in 440 hospitalised patients. The decades-old medicine has received US Food and Drug Administration (FDA) emergency use authorisation for COVID-19 disease, but so far there is no scientific proof […]

Facebook sues Indian techie for COVID-19 fake news

Facebook has filed a lawsuit against an Indian man for running a software company that pushed deceptive advertisements and misinformation about COVID-19 on social media by bypassing its advertising review process. The suit, filed in federal court in California, alleges that Basant       Gajjar’s company LeadCloak provided ad-cloaking software designed to sneak fake news and […]

Walt Disney postpones India launch of streaming service

AMERICAN entertainment conglomerate Walt Disney Co has delayed the March 29 launch of its Disney+ streaming service in India, where it was gearing up to open another front against global rival Netflix Inc. The launch of Disney+ through its local partner Hotstar was timed to coincide with the beginning of the popular Twenty20 cricket tournament, […]

Infosys writes off its investment in US firm

INDIA’s IT giant Infosys has said in a regulatory filing that it has written off $4.5 million (£3.5m) it had invested in US startup Waterline Data Science. The Bengaluru-based company had made the investment through its innovation fund in two tranches in 2016 and 2018. The $500m innovation fund has backed around 10 startups and invested in two […]

Sonia Syngal becomes CEO of US apparel retail giant Gap Inc  

AMERICA’S largest apparel retail giant Gap Inc has named Indian-American Sonia Syngal as its new chief executive officer (CEO), effective from March 23. The latest move by the business marks a rare elevation of a woman despite her colour and origin in the white-dominated US corporate world. Gap Inc described Syngal, 46, as an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016. Syngal will also join the Gap […]

Vistara gets its first B787-9 Dreamliner

VISTARA took the delivery of its first wide-body Boeing 787-9 Dreamliner plane on Friday (28), making it the first Indian airline to fly this aircraft. The plane, which has the registration number VT-TSD, will depart from the Boeing facility here at 02.00 pm (local time) on Friday and land in Delhi at 02.00 pm (local […]

Trump warns of more sanctions on Venezuelan oil sector

THE US is preparing to impose more sanctions on Venezuela’s oil sector, president Donald Trump said on Tuesday (25), in an attempt to choke financing to president Nicolas Maduro’s government. “You will be seeing something on that in the not too distant future,” Trump told a news conference in Delhi when asked if Washington would […]

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