Month: April 2018

Facebook’s lawyers are attempting to block a High Court decision in Ireland, where its international business is headquartered, to refer a long-running legal challenge to the bloc’s top court. The social media giant’s lawyers asked the court to stay the referral to the CJEU today, Reuters reports. Facebook is trying to appeal the referral by challenging
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Walmart’s strategy to get itself fighting fit against Amazon saw one more development today. This morning, UK supermarket chain Sainsbury’s announced a deal with Walmart to buy a majority stake in Asda, Walmart’s wholly-owned UK subsidiary. The deal values Asda at £7.3 billion ($10 billion), and if it closes will net Walmart £2.975 billion ($4
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Baidu has turned to the financial industry to bolster its consumer finance business. The Chinese search giant confirmed that it has sold a majority share in its Financial Services Group (FSG) business to a consortium of private equity firms in a deal worth $1.9 billion. The business is in the consumer finance space and its services include credit and wealth
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Facebook’s admission to the UK parliament this week that it had unearthed unquantified thousands of dark fake ads after investigating fakes bearing the face and name of well-known consumer advice personality, Martin Lewis, underscores the massive challenge for its platform on this front. Lewis is suing the company for defamation over its failure to stop bogus
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EcoFlow, a U.S.-Chinese hardware firm developed by former DJI engineers that sells portable power stations, has pulled in a Series A round of over $4 million ahead of the imminent launch of new products and an international sales expansion. The Shenzhen/San Francisco-based company has taken an interesting route. Founded in 2016, the startup burst on to
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