Business

Musk finally relocates to Texas, calls California ‘complacent’


San Francisco: After spending his most life in California, Tesla and SpaceX CEO Elon Musk has finally relocated to Texas, calling California 'complacent'. Revealing this for the first time during an interview for The Wall Street Journal's annual CEO Council summit, Musk said: "California has been winning for a long time, and I think they're...

China bans US travel firm Tripadvisor’s app, 104 others


Beijing: China has removed leading US travel platform Tripadvisor's app along with 104 other mobile apps from various online stores in the country as part of cleaning up the internet. Most of the apps that were banned belonged to local Chinese companies but it was not clear why the country blocked Tripadvisor. "As of Tuesday afternoon,...

Mukesh Ambani calls for early roll out of 5G

Post Date: December 9, 2020

New Delhi: Reliance Industries (RIL) Chairman Mukesh Ambani said there was a requirement of policy measures for the early roll out of the fifth generation (5G) connectivity technology. Addressing the inaugural session of India Mobile Congress (IMC), Ambani said Reliance Jio will pioneer India's '5G Revolution' in the second half of 2021. He noted that India...

Need to ensure timely rollout of 5G: Modi to industry


New Delhi: Prime Minister Narendra Modi said that all stakeholders in the telecom sector along with the government will have to work together to ensure a timely roll-out of the fifth generation technology. Addressing the India Mobile Congress (IMC), Modi urged the industry to work together to make India a global hub for telecom equipment,...

RBI proposal to allow business houses into banking fraught with risk


By Raghuram Rajan and Viral Acharya The RBI recently released a report of an Internal Working Group (IWG) to review bank ownership guidelines. RBI reviews its regulations periodically, and by and large this working group has done the usual thorough job. Yet its most important recommendation, couched amidst a number of largely technical regulatory rationalizations,...

Amazon records ‘biggest holiday season’ ever in its history


New Delhi: Amazon has revealed that the company has witnessed its largest holiday shopping season so far this year, as independent businesses selling on Amazon surpassed $4.8 billion in worldwide sales from Black Friday through Cyber Monday -- an increase of over 60 per cent from last year. More than 71,000 small- and medium-sized businesses...

Rolls-Royce, Infosys join hands for aerospace engineering in India


Mumbai: Leading aerospace and defense technology company Rolls-Royce and IT major Infosys have announced their strategic partnership for aerospace engineering in India. As part of the overall partnership, Rolls-Royce will transition a significant part of its engineering center capabilities for Civil Aerospace in Bengaluru to Infosys. “Leveraging its expertise in core engineering services, digital transformation capabilities,...

GM recall 7 million vehicles for airbag problems


New York: GM is recalling 7 million pickups and SUVs worldwide with airbags made by the same manufacturer whose airbags are linked to at least 17 deaths in the United States. The National Highway Traffic Safety Administration ordered a US recall on Monday, rejecting GM's argument that this version of the airbags didn't need to be replaced. The...

Elon Musk second richest person in world, surpasses Gates


San Francisco: Tesla chief Elon Musk has surpassed Microsoft co-founder Bill Gates to become the second-richest person in the world. The Bloomberg Billionaires Index on Monday put the Tesla chief executive -- with a $127.9 billion fortune -- above Gates -- at $127.7 billion -- for the first time. The 49-year-old entrepreneur has added more than...