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Uber’s net loss declines as ride bookings grow

Uber’s net loss declines as ride bookings grow

Uber Technologies reported lower loss by nearly 9 per cent in the second quarter of this year as ride bookings jumped. However, the mobile app-based ridesharing company is still far from being profitable.

On Wednesday, Uber announced that its net loss slipped from $708 million in the first quarter of this year to $645 million in the second quarter. In the fourth quarter of 2016, the company’s net loss was recorded at $708 million.

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Samsung Galaxy Note 8 facing challenges on multiple fronts

Samsung Galaxy Note 8 facing challenges on multiple fronts

The Samsung Galaxy Note 8 is facing an increasingly competitive minefield varied considerably from its predecessors as the new device could get squeezed by other Android rivals. Samsung will launch Note 8 just ahead of the 10th anniversary of apple iPhone. As the Samsung versus Apple battle is already known to all the iPhone will definitely give a tough challenge to the new Samsung device.

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Buffett’s Berkshire Hathaway facing challenge from Sempra Energy for Oncor

Buffett’s Berkshire Hathaway facing challenge from Sempra Energy for Oncor

Board members of the bankrupt Energy Future Holdings will reportedly hold a meeting this Sunday to decide whether to sell its power transmission division Oncor to Warren Buffett’s Berkshire Hathaway Inc. or accept a competing bid from Sempra Energy.

Speaking on the condition of anonymity, a person familiar with the matter revealed that the board received an opposing bid for Oncor from Energy Future’s biggest creditor Paul Singer's hedge fund Elliott Management Corp last Friday.

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Tesla announces risky new approach to customer service

Tesla announces risky new approach to customer service

During the past few years, Tesla was slammed by a number of complaints from some -high profile customers who sued the electric-carmaker alleging that the company didn’t respond to emails and calls about repairs.

In order to thwart any such issue in the future, Tesla has made a big change, taking a risky new approach to customer service. The e-carmaker recently revealed that it is now letting customers to bring their issues straight to a company executive.

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Facebook downranks video clickbait & fake play buttons

Facebook downranks video clickbait & fake play buttons

Facebook, the world’s most-popular social-networking platform, has confirmed that it is downranking video clickbait and fake play buttons. Many websites and publishers engage in clickbait to drive traffic to their websites.

The notorious clickbait and fake play buttons are News Feed links displayed in the preview image and videos that are essentially merely static images uploaded as a video file to trick viewers to give clicks.

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Berkshire Hathaway declines to raise its Oncor offer

Berkshire Hathaway declines to raise its Oncor offer

Warren Buffett-led Berkshire Hathaway’s energy division declared on Wednesday that it would not increase its offer price for Oncor Electric Delivery Company LLC.

Berkshire Hathaway Energy chairman Greg Abel and Berkshire Hathaway Inc. chairman Warren Buffett stressed yesterday that they stood “firm no” at their $9 billion offer for acquiring 80 per cent of Oncor and would not increase their offer.

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Intel will unveil 9th-generation Core family member on August 21

Intel will unveil 9th-generation Core family member on August 21

In addition to the planned unveiling of its 8th-generation Core processors on coming Monday, August 21; Intel Corp. may introduce the world to one member of its 9th-generation Core family, called Ice Lake.

In a newly-released abrupt note on its website, Intel described the new technology, confirming that the 8th-generation Intel Core processor family would be succeeded by Ice Lake processor family.

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Nvidia shares fall on lower-than-expected quarterly revenue

Nvidia shares fall on lower-than-expected quarterly revenue

Stock price of Nvidia Corporation slipped on Thursday after the chip maker, its data center and automotive businesses missed quarterly revenue estimates of market analysts.

Revenue from the company’s data center business more than doubled to settle $416 million but it missed estimates analysts’ forecast of $423.3 million.

Automotive business revenue jumped 19.3 per cent to $142 million, but it also missed analysts’ average expectation of $146.2 million.

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Mylan NV could face decline in profitability in 2017 and 2018

Mylan NV faces decline in profitability in 2017 and 2018

Generic drug maker Mylan NV admitted on Wednesday that delays in the launch of some of its new drugs in addition to eroding prices for generics in the U.S. could hurt its profitability in 2017 as well as in 2018.

Due to uncertain U.S. regulatory environment, Mylan NV pushed back the launch of its key drugs in the U.S. to 2018.

David Maris, an analyst with Wells Fargo, said, “It’s clear they can’t achieve it. The fact they can’t make that tells you things must be bad. The $6 number has had a long and questionable history in my book.”

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Activist Investor Ackman wants five ADP board seats

Activist Investor Ackman wants five ADP board seats

After acquiring an 8 per cent stake in Automatic Data Processing (ADP), billionaire investor William Ackman-led hedge fund is planning to ask for board seats at the U.S. human resources outsourcing firm.

The leader of Pershing Square Capital Management is seeking board seats at ADP as he is pushing the U.S. human resources outsourcing firm to slash costs and enhance its returns.

The 51-year-old activist investor told investors that he wanted five board seats, including one for himself, on ADP’s ten-member board.

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