China’s New Oriental dismissed 60,000 employees and saw operating income plunge by 80% after Beijing enforced new sweeping rules on the country’s private education industry that barred for-profit tutoring last year, according to its founder. Yu Minhong, who founded the company in 1993, published the figures on his official WeChat account on Saturday in a […]
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Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday. Reddit had confidentially filed for an IPO in December and is aiming […]
Bahrain-based telecom services company Batelco recently started its eCommerce platform, Batelco eSuite, in an effort to set up stores that are online, according to a TradeArabia report earlier last week. According to a press release, retailers won’t have a hard time surfing the website/store for the fact that it is user-friendly and provides clear instructionsfor users. Also, customers can have […]
As trading volumes dry up, potential open interests hinder, and the number of active addresses slumbers, Bitcoin and other cryptocurrencies’ value fell on Thursday, led by the Federal Reserve’s December meeting reaching risk assets worldwide. According to Coin Metric data, the godfather of all digital assets, Bitcoin, fell by eight percent in 24 hours after […]
Finnish telecom equipment maker Nokia Tuesday said it is extending its partnership with Tele2 to deploy 5G RAN in Estonia, Latvia, and Lithuania in a long-term deal. The deal will be based on the 25 years of cooperation between Nokia and Tele2 in the Baltic region, while Nokia’s 5G solutions will enable Tele2 to deliver […]
In its intraday trading on Monday, Apple became the first to reach a $3 trillion valuation when its shares hit $182.86 per share, followed by a dire drop below its milestone, as the company seeks out to fortify its capital reign on the market. The Big Tech giant welcomes the new year with hopes of […]
China said on Tuesday it would put in force new rules that will boost oversight over how its platform companies make plans to list abroad or use recommendation algorithms, in moves set to tighten Beijing’s grip over its sprawling technology sector. The Cyberspace Administration of China (CAC) said it would from Feb. 15 implement new […]
Chinese Telecommunications company Huawei Technologies Co Ltd unveiled its 2021 revenue expectations to drop by almost 30 percent as it fights off U.S. sanctions. In a letter sent to its employees on Friday, Huawei’s rotating chairman Guo Ping said that the revenue for 2021 is estimated to reach $99.48 billion. This marks a 28.9 percent […]
U.S.-based telecom giants AT&T and Verizon expressed on Sunday their utter rejection of U.S. regulatory demand to postpone their 5G rollout of some wireless services, initially set to be released this week. The telcos’ chief executive officers (CEO), John Stankey and Hans Vestberg sent to U.S. regulators a joint letter igniting tensions between the companies […]
Morgan Stanley agreed to pay $60 million to settle a lawsuit by customers who said the Wall Street bank exposed their personal data when it twice failed to properly retire some of its older information technology. A preliminary settlement of the proposed class action on behalf of about 15 million customers was filed on Friday […]