Apple drops Intel for 5G chips in nextgen iphones
SAN FRANCISCO: Apple has reportedly conveyed a message to Intel, saying it will not be using the chip-maker’s 5G modems for 2020 iphone models, the media reported. As a result of the decision, Intel seems to have halted development on a modem internally known as “Sunny Peak”, but the company is reportedly now focusing on improving its product in an attempt to win Apple back for the 2022 iphone lineup, Digital Trends reported.
MALLYA’S PRIVATE LUXURY JET SOLD FOR ONLY ₹35 CRORE
After at least four aborted attempts since March 2016, the service tax authorities managed to get a buyer for the confiscated luxury jet of the runway businessman Vijay Mallya, with a Florida-based Aviation Management Sales emerging as the highest bidder for ₹34.8 crore ($5.05 million) last Friday, a person aware of the matter said.
The service tax authorities had put the luxury A319 jet under the hammer to recover their dues to the tune of ₹800 crore accumulated on account of non-payment of service tax before his erstwhile Kingfisher Airlines went belly up in October 2012.
FACEBOOK REVEALS DATA-SHARING TIES WITH TECH COMPANIES
Facebook has said that it shared user data with 52 companies, including Chinese firms, weeks after it was reported that the social media giant formed datasharing partnerships with cellphone makers giving them access to details of users and even their friends.
The social media giant’s acknowledgement came as a part of a more than 700-page document dump to the US house energy and commerce committee on Friday evening. The committee released the information publicly on Saturday, reported.
FORTIS CEO’S PAY GREW MORE THAN FOURFOLD IN 2 YEARS
The salary of Bhavdeep Singh, chief executive of cash-strapped Fortis Healthcare Ltd, rose more than fourfold between July 2015 and March 2017 even as the company’s financial health deteriorated. Singh, who was hired at a salary of ₹3.91 crore in July 2015, saw his salary jump to ₹16.80 crore in the following year, according to the company’s annual reports of 2015-16 and 2016-17. Singh was also paid a joining bonus of ₹7.23 crore and as many as 2.5 million stock options.
VW TO INVEST ₹7,900 CR IN INDIA, AIMS AT 5% MARKET SHARE BY 2025
The Volkswagen group (VW) has decided to invest ₹7,900 crore (€1 billion) under its India 2.0 plan to revive its fortunes. The investment will be made through its sister brand Skoda, with the two brands seeking to have a combined market share of 5% by 2025.
The India 2.0 initiative will focus on increasing localisation of products and beefing up the company’s existing production capacity, besides setting up a new design and development centre in Pune. The first product, a utility vehicle, will be launched in 2020. Skoda will also look to develop India as a base for developing compact cars for exports to other emerging markets.
AMAZON CLOSES IN ON APPLE IN THE $1 TRILLION STAKES
In the battle for the first company to reach and sustain $1 trillion in stock market value, don’t count out a come-from-behind victory.
Apple Inc. has had a lock on its spot as the world’s most valuable public company by stock value for several years, and we’ve been waiting for it to crest the $1 trillion market cap milestone. The company inched within $50 billion of that mark in early June before its share price retreated a bit.