Dr. Ajith Kumar V.V
Google has been hit with a €1.49bn (£1.28bn) fine from the EU for blocking rival online search advertisers. It is the third EU fine for the search and advertising giant in two years. The case accuses Google of abusing its market dominance by restricting third-party rivals from displaying search ads between 2006 and 2016. In response, Google changed its AdSense contracts with large third parties, giving them more leeway to display competing search ads. "Google has cemented its dominance in online search adverts and shielded itself from competitive pressure by imposing anti-competitive contractual restrictions on third-party websites. "This is illegal under EU anti-trust rules," said EC commissioner Margrethe Vestager.
Source;https://www.bbc.com/news/business-47639228
Dr. Ajith Kumar V.V
Established brands always try to leverage their brand equity with category expansions, and Amazon has been known for such activities in various sectors. The company once again has an attractive offering under “Belei” brand name which will be its skin care line .Skin acre is among the fastest growing lines across the globe, and Amazon with its in-depth reaches is poised to do well.
Source : https://www.cnbc.com/2019/03/20/amazon-is-getting-into-skincare.html
Dr. Ajith Kumar V.V
The tastes and preferences of consumers keep on changing across the categories. Recently, we sees the rising trend of consumers’ preferences for used clothes in various countries, and segments with these preferences are not few. This trend is posing a challenge for established fashion retailers.
Source; https://www.cnbc.com/2019/03/19/fashion-retailers-under-threat-from-24-billion-second-hand-market.html
Dr. Ajith Kumar V.V
Damac Properties on Thursday reported big decreases in annual net profit and home sales as the Dubai real estate market continues to "correct itself". The Dubai-based developer reported total revenue of AED6.1 billion, while net profit stood at AED 1.15 billion, down from AED2.76 billion in 2017.Booked sales for the same period were reported at AED4.3 billion, down from AED7.5 billion in 2017, while total assets stood at AED 25.2 billion.
Source: https://www.arabianbusiness.com/news/416420-damac-profits-sales-fall-as-dubai-property-market-corrects
Dr. Ajith Kumar V.V
Chinese telecoms giant Huawei said revenues topped $100bn in 2018 despite a US-led campaign against the business on fears it poses a security threat. The firm said revenue for 2018 hit 721.2bn yuan ($107bn), while net profit jumped 25% to 59.3bn yuan. The US and others have restricted the company over concerns that its ties to Beijing represent a security threat. Huawei says it is independent and strongly denies its products pose a security risk. The Shenzhen-based firm said global revenue surged 19.5% in 2018, its fastest pace of growth in two years. The result was supported by strong sales of smartphones in China.
Source: https://www.bbc.com/news/business-47743152
Dr. Ajith Kumar V.V
Tesla has launched its latest car, the Model Y, its second mass-market electric vehicle. The car was unveiled at an event in Los Angeles. The firm will first release a long-range version of the vehicle with a price tag of $47,000 (£35,489).Chief executive Elon Musk said a standard-range model priced at $39,000 would be available in 2021.It comes after a challenging period for Tesla, with production issues and legal problems for Mr. Musk.
Source: https://www.bbc.com/news/technology-47570133
Dr. Ajith Kumar V.V
Honda said on Tuesday, March 12, 2019 it would recall about 1.1 million Honda and Acura vehicles in the United States to replace defective Takata airbags on the driver’s side. The company said here it was aware of one injury linked to the defect that may have caused the airbag to rupture when it was deployed in a crash.
Source: https://www.cnbc.com/2019/03/12/honda-to-recall-about-1-million-vehicles-in-us-to-replace-defective-takata-airbags.html
Dr. Ajith Kumar V.V
One of the world's biggest investors is breaking up with Goldman Sachs. Abu Dhabi sovereign wealth fund Mubadala Investment Company has announced that it won't do any new business with Goldman (FADXX), which is mired in controversy over its ties to a multibillion-dollar corruption scandal in Malaysia.
Source: https://edition.cnn.com/2019/03/15/business/goldman-sachs-1mdb-mubadala/index.html
Dr. Ajith Kumar V.V
The Abu Dhabi National Oil Company (Adnoc) on Sunday signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s Inpex Corporation. A wholly-owned Inpex subsidiary, Jodco Exploration Limited will hold and manage the interest in the concession on behalf of Inpex, The award has been endorsed by Abu Dhabi’s Supreme Petroleum Council (SPC) and represents the deep commercial and economic relationship, as well as long-standing energy partnership between the UAE and Japan. Inpex will hold a 100 per cent stake in the exploration phase, investing up to Dh646 million.
Source: https://gulfnews.com/business/energy/uaes-adnoc-awards-35-year-exploration-concession-in-abu-dhabi-to-japans-inpex-corporatrion-1.1552819722929
Dr. Ajith Kumar V.V
Google is looking transform Internet-age game play, with an expected launch of a streaming service which uses the tech giant’s power in the Internet cloud. Google tested recently in partnership with Ubisoft. Google collaborated with French video game colossus Ubisoft to use the hit “Assassin’s Creed” franchise to test “Project Stream” technology for hosting the kind of quick, seamless play powered by in-home consoles as an online service.
Source: http://www.arabnews.com/node/1467836/business-economy