Tech

Telecom Italia retains Amos Genish as CEO
Global Tech

Telecom Italia retains Amos Genish as CEO

Despite a revamp of its board of directors, Amos Genish has been retained as the chief executive officer of the country’s composite telecom operator. Amos Genish said in a statement that “I confirm my long-term commitment to the transformation of the group, which aims to reaffirm TIM’s position as an […]

Rocket Internet sells off Daraz Group to Alibaba
Tech

Rocket Internet sells off Daraz Group to Alibaba

Jumia’s parent company, Rocket Internet said it has sold off Daraz Group to Alibaba. Daraz Group is an Asian eCommerce platform. Rocket Internet said it sold the company for an undisclosed amount. Daraz was founded in Pakistan in 2012. The company also operates online marketplaces in Bangladesh, Myanmar, Sri Lanka […]

Sprint appoints Michel Combes as CEO
Global Tech

Sprint appoints Michel Combes as CEO

America’s mobile carrier, Sprint said it has appointed Michel Combes as its new chief executive officer. Sprint said its Board of Directors has elevated Marcelo Claure to Executive Chairman. In their new roles, Claure and Combes will collaborate on the continued execution of Sprint’s strategy as well as its planned […]

Cambridge Analytica to shut down
Tech

Cambridge Analytica to shut down

Breaking news from Guardian UK says SCL Group and its Cambridge Analytica consultancy, at the centre of this year’s Facebook privacy row, are closing, the Wall Street Journal reported on Wednesday, quoting company managers. The firm did not immediately respond to a request for comment.

BRIEF: SnapChat might be moving towards profit
Tech

BRIEF: SnapChat might be moving towards profit

Snap Inc., the parent company of SnapChat might be moving towards profitability has company has just released its first-quarter result showing it made deep cuts to losses. The first quarter net loss was reduced by 80% on a year on year basis to $385 million compared to $2.2 billion net […]

Baidu to divest from Financial Services Group
Tech

Baidu to divest from Financial Services Group

China’s largest search engine, Baidu said it will divest from Financial Services Group, its consumer lending business. Baidu said it selling Financial Services Group to the investors are led by TPG and The Carlyle Group, with participation from Taikang Group, ABC International Holdings and others. Pursuant to the definitive agreements, […]

Sberbank, Yandex form JV to float B2C eCommerce unit
Tech

Sberbank, Yandex form JV to float B2C eCommerce unit

Russia’s largest search engine, Yandex said it has a joint venture based on the Yandex.Market platform. The companies intend to combine the technological capabilities of Yandex and the infrastructure and technologies of Sberbank to develop a leading B2C eCommerce ecosystem. At closing, the company is valued at 60 billion rubles. […]