Tech

Kering drops counterfeit lawsuits against Alibaba
Tech

Kering drops counterfeit lawsuits against Alibaba

Alibaba and Kering said they have partnered to combat fakes and counterfeiting of the former’s brands as well as the intellectual property of its many luxury fashion brands. As a result of the partnership, Kering said it has agreed to dismiss the lawsuit filed against Alibaba and Alipay, an Ant […]

Image: NG HAN GUAN/ASSOCIATED PRESS
Tech

Tesla says revenue jumped by 93% in Q2

Tesla said its automotive revenue surged by 93% in the second quarter compared to 2016. Growth was due to 53% growth in total vehicle deliveries, and a smaller percentage of vehicles sold with residual value risk that were subject to lease accounting. Compared to the prior quarter, automotive revenue was […]

BRIEF: Stripe receives USD6.2M in equity funding
Tech

BRIEF: Stripe receives USD6.2M in equity funding

According to a latest SEC filing, Stripe has just raised about USD6.2 million from several investors. William Gaybrick, Stripe’s chief financial officer signed the filing. Stripe is a US technology company, operating in over 25 countries, that allows both private individuals and businesses to accept payments over the Internet. According […]

Former Yahoo, Altaba announces share buyback
Tech

Former Yahoo, Altaba announces share buyback

Former Yahoo Inc., Altaba Inc., said its Board of Directors has authorized the repurchase of up to $5 billion of its common stock. Altaba announced in June that it had repurchased approximately 64.5 million common shares, or approximately 6.7% of the Company’s issued and outstanding shares, for $3.4 billion in […]

Russia’s Yandex says net profit rose by 69% in Q2
Tech

Russia’s Yandex says net profit rose by 69% in Q2

Russia’s largest Internet search company said its net profit for the second quarter rose 69% in the second quarter to RUB3.5 billion. “Our team delivered another strong quarter,” said Arkady Volozh, Chief Executive Officer of Yandex. “Our agreement with Uber to combine ride-sharing operations in Russia and five neighboring countries […]