Indian-based restaurant search app Zomato acquired $60M from Temasek Holdings and Vy Capital. The search app will use it to expand the business to other countries and to introduce other services like Zomato Whitelabel.
Sectors
IRS Rejects Yahoo's Tax-Free Alibaba Spin-off Request, Sending Stocks Down 4%
IRS declined to bless Yahoo's planned tax-free Alibaba spin-off, sending its shares down about 4%. According to Business Insider, Yahoo owns 384 million shares of Chinese tech giant Alibaba, which is worth $23 billion. Yahoo plans to turn that into a separate company with its small-business unit in a tax-free transaction that allows it to give much of the value back to Yahoo shareholders. However, IRS declined to grant Yahoo's request. It doesn't mean the IRS rejected Yahoo's plan directly. IRS is simply telling Yahoo it can't be too confident about the approval of the deal.
Will Lenovo, HP and Dell consolidate in the PC market in the coming years?
Three PC makers, Lenovo, HP and Dell will consolidate in the PC market, says Michael Dell on a press briefing in Bengaluru, India Michael Dell, Dell Inc. CEO, told Reuters he predicts there would be consolidation among three PC makers in the market. These are Dell, HP and Lenovo. These three PC manufacturing companies will take over 80% of the market in a few years.
Merger of Four Major Insurance Companies May Harm Healthcare Industry
Doctors, hospitals and healthcare groups criticized the proposed merger of four major insurances, saying that it could lead to harm for the healthcare industry.
Japan's Economy Reduces at a Minus 1.2 Percent Annual Rate in Q2
Revised data released Tuesday shows that Japan's economy contracted at a minus 1.2 percent annual rate during the second quarter. In a report from St. Louis Post-Dispatch, economists are rather impressed with the figure reported since it is better than what was expected. A preliminary report last month showed that Japan's economy contracted at a minus 1.6 percent annual rate.
Latest News
Amazon.com, Inc. plans to drop a new tablet worth $50 as it has struggled drawing customers to its pricier devices. The said tablet is said to be rolled out this holiday.
One of the most successful travel bloggers in the world, Johnny Ward, is hailed from a small town in Northern Ireland called Kilkeel. It is exactly that which inspired him to travel and explore the world.
There are a lot going on in the credit card industry, from credit card and gas related theft and fraud to online shopping without credit cards. Forbes reports on each of this credit card news. First, there is a fast spreading epidemic in the credit-card and gas-station industries where thieves are pumping gas illegally for profit. Meanwhile, a new Swedish checkout service allows people to shop online without using credit cards.
Pfizer Inc. has failed again in enforcing its intellectual property rights in India. The giant pharmaceutical's patent on its rheumatoid arthritis drug, Tofacitinib, was rejected in the country.
Apple has released a new Apple Watch app that is centered around lightweight communication between hosts and guests. They can use it to get notifications and read and respond to messages. Hosts can also receive booking requests right from the watch as reported by msn.com.
J. Crew has been known for its conventionally preppy clothes and its basics. The company lately has been criticized for not offering solid classic attire and is wandering from its core customers.
Amazon is venturing on meal delivery partnering with restaurants near Seattle, and is currently hiring jobs for the Seattle headquarter and in New York. Amazon Inc. is currently hiring staff for its newest division; the Amazon Restaurants. The department is opening 15 job vacancies in Seattle and New York. Six separate postings are from Amazon Restaurant and Travel.
Jan Koum, Whatsapp founder announced it on Facebook that the messaging app had reached 900 million users. Behind its first achievement, Facebook is aiming for 1 billion monthly users worldwide.
City watchdog the Financial Conduct Authority wasted £3.2 million of taxpayers' money on a deal with Oracle for software that was never used. FCA officials admitted that the agency only required £1 million for a software they needed. But according to reports from This Is Money, the FCA paid a total of £4.2 million for a deal with San Francisco-based tech giant Oracle.
