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Meta (FB) builds shield after avatars ‘harass’ proxies in metaverse
February 08, 2022 10:09 AM AEDT| By Team Kalkine MediaHighlights Some users have faced harassment on Meta’s Horizon network, its virtual reality platform. The protective function will be turned on by default. Meta Platforms had opened its virtual reality platform to the public in North Am.....
Frontier Group (ULCC) to acquire Spirit Airlines for US$6.6 billion
February 08, 2022 06:35 AM AEDT| By Rupam RoyThe Colorado-based airline holding company, Frontier Group Holdings, Inc (NASDAQ: ULCC), is acquiring its rival Spirit Airlines Inc. (NYSE: SAVE) for US$6.6 billion in a cash-and-stock deal. The purchase is expected to help Frontier compete with l.....
Amazon (AMZN), Meta (FB) epic gain, loss – case of want and necessity?
February 06, 2022 02:40 PM AEDT| By Sanjeeb BaruahHighlights Amazon Inc (AMZN) closed the week with its biggest single-day gain of US$191 billion. Meta Inc’s (FB) stock rout wiped out more than US$250 billion in market value. PetroChina Co holds the record for daily gain at US$597 bill.....
Can Fed rate hikes impact emerging markets?
February 06, 2022 12:52 AM AEDT| By AshishHighlights Kristalina Georgieva, managing director of the IMF, recently said interest rate hikes by the Fed could have an impact on global recovery. She feared that escalated interest rates in the US could make repayment costlier for econom.....
Chip firms see supply tension even with production boost in 2022
February 05, 2022 06:49 PM AEDT| By Versha JainHighlights Automakers like Ford Motor Co and General Motors anticipate the semiconductor shortage to improve in the second half of 2022. But the supply tension is expected to persist even with a production boost this year. The House on.....
Protests, diplomatic boycotts overshadow Beijing Winter Olympics
February 05, 2022 06:43 PM AEDT| By Versha JainHighlights According to BBC, China has issued no tickets to the common public, but only to the members of the Communist Party and the state-run company officials. Diplomats from around a dozen countries, including the US, the UK.....
Volvo, Northvolt to build US$3.3-bn battery gigafactory in Sweden
February 05, 2022 11:27 AM AEDT| By Rupam RoyHighlights The plant’s construction, which includes an R&D center, will begin next year. The batteries for Volvo and Polestar models are expected to start in 2025. The new facility would create 50-gigawatt-hour (GWh) of battery c.....
Is Meta Platforms’ (FB) US$250-bn loss biggest wipeout in US history?
February 05, 2022 06:58 AM AEDT| By Versha JainHighlights Meta Platforms, Inc. (FB) lost around US$250 billion in market value in a single day. The Dow Jones US Technology Total Stock Market Index’s total YTD decline widened to 10.97% after the stock rout. Meta&.....
Snap Inc (NYSE: SNAP) nixes iPhone privacy fears - answer to Meta woes?
February 05, 2022 03:58 AM AEDT| By Rupam RoyHighlights Snap Inc forecasts revenue of US$1.03 billion to US$1.08 billion in Q1, FY22. It expects daily active users to be in the range of 328 million to 330 million. The company reported its first positive net income since its IPO in March .....
Amazon (AMZN) rides Rivian stake to US$14.3-bn profit, raises membership fees
February 04, 2022 11:38 AM AEDT| By Sanjeeb BaruahAmazon.com Inc (AMZN) on Thursday posted a fourth-quarter profit of US$14.3 billion, boosted by a pre-tax gain from its stake in electric vehicle maker Rivian Automotive. The stock rose as much as 15% in the after-market hours after dipping nearly.....
Jeff Bezos gets Dutch bridge dismantled to make way for his yacht
February 04, 2022 01:12 AM AEDT| By Sanjeeb BaruahAmazon.com, Inc (AMZN) founder Jeff Bezos is bearing the cost of taking apart a historic Dutch bridge so his US$485-million superyacht can pass, it was revealed this week. Rotterdam officials agreed to dismantle the steel Koningshaven bridge that .....
Captain Cook’s Endeavour discovery sparks controversy
February 03, 2022 09:29 PM AEDT| By Sukriti NairHighlights Australian National Maritime Museum claims the discovery of Captain Cook's Endeavour. Endeavour's discovery sparks a row among Australian and US researchers. The principal investigator believes emotions or politics should not drive .....
Andrew “Twiggy” Forrest takes legal action against Facebook, here’s why
February 03, 2022 09:03 PM AEDT| By RitwikaHighlights Facebook fails to take down fake and misleading cryptocurrency advertisements featuring Andrew Forrest from its platform. Forrest takes a stand for all general Australian citizens from falling prey to such scams. The case will be he.....
Canva buys UK-based Flourish to expand business
February 03, 2022 02:31 PM AEDT| By Sukriti NairHighlights Software firm Canva buys Flourish, a data visualisation software company in London. Canva to continue scaling the Flourish platform while integrating its visualisation tech. Canva is aiming to double its expansion in UK. Design.....
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Investors jittery after PayPal’s (PYPL) dim forecast, eBay deals reduce
February 03, 2022 04:18 AM AEDT| By Rupam RoyHighlights PayPal’s total payment volume increased by 23% YoY in the fourth quarter of FY21. The revenue climbed 13% YoY in the same period. But it provided weak guidance for the first quarter of fiscal 2022. Payment processing comp.....
Queensland swelters under heatwave; power cut in over 23,000 homes
February 02, 2022 06:49 PM AEDT| By Priyanka PayalScorching heat and tropical humidity have taken a toll on Australian citizens, especially in Queensland. The gap between energy demand and supply has amplified the situation even further. Residents in Queensland have been asked to limit thei.....
Microsoft's US$68.7 billion mega-deal for Activision under cloud?
February 02, 2022 08:48 AM AEDT| By Sanjeeb BaruahThe Federal Trade Commission (FTC) is expected to open an antitrust probe into Microsoft Corporation’s US$68.7 billion mega-deal to acquire gaming company Activision Blizzard Inc (ATVI), media reports said. According to a person familiar wit.....
Can McDonald's (MCD) influence food companies to enter metaverse?
February 02, 2022 01:27 AM AEDT| By Rupam RoyFast-food chain McDonald's Corporation is celebrating the Chinese Lunar New Year with a specially created Metaverse-themed VR exhibition inspired by Zodiac signs. McDonald's on Tuesday greeted the citizens with a metaverse-themed exhibition as the.....
ACCC refers Rapid Antigen Test scammers to the police
February 01, 2022 08:52 PM AEDT| By Priyanka PayalHighlights ACCC takes steps to control illegal pricing and selling of rapid antigen tests (RAT’s) in Australia. The competition regulator has sought an explanation from more than 50 test suppliers, including major retailers and phar.....
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Global inflation pressures may ease in next 12-18 months, says OECD
February 01, 2022 08:33 PM AEDT| By Team Kalkine MediaHighlights Global inflation pressures would ease over the next 12 to 18 months, as per the OECD. The OECD sees rebalancing of the global demand and supply equation. Global economy has recovered well after being hit badly by COVID-19 pandemic. .....
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