In 2020, over 240,000 people in the U.S. reported being victims of phishing. The second most commonly reported cybercrime was the non-delivery of products, followed by extortion. Cybercrimes are more rampant than ever. Recognizing that, 154 countries have enacted cybercrime legislation. Still, that has not deterred cybercriminals who steal information and money from vulnerable people and companies.
Footwear giant Nike witnessed a 3% dip in its shares as supply chain problems worsened. About three-fourths of Nike’s shoes are manufactured in Southeast Asia. Over 50% of them are made in Vietnam, where factories are shut due to Covid resurgence.
After the Evergrande crisis, another issue may threaten China’s GDP. This holiday season, some of us across the world may not get to buy smartphones and other goods for our loved ones. That’s because China’s state-mandated power cuts have forced factories to shut down and halt production. This will affect the supply of some sought-after products, like Apple and Tesla.
The Covid-19 pandemic has drastically impacted many sectors of the world economy. One of the sectors that fell on its face was the supply chain.The pandemic and lockdown have resulted in businesses’ inefficiency in meeting unprecedented consumer demand across all product categories. Recently, Morten Engelstoft, Chief Executive at Maersk-owned APM Terminal, echoed a similar sentiment.
On September 14, 2021, Ireland’s Data Protection Commission (DPC) launched an investigation into Bytedance-owned TikTok, the popular video sharing app. This investigation comes as TikTok is already facing backlash regarding data privacy concerns. To know more about the app’s highs and lows in 2020, check out this article.
Every minute, nearly US$3 million is lost to cybercrime. And by 2025, cybercrime is set to cost the world over US$10 trillion. That cybercrime demands our immediate attention is evident. Cybercrimes are becoming easier and more prominent than ever before. A 2019 Global Data Risk Report revealed that, on average, only 5% of companies have properly protected their folders.
Deep technology is the latest addition to the startup universe and to the world of innovative problem-solving. The term “Deep Tech” was coined by Swati Chaturvedi, the founder of the digital investment platform PropelX. It refers to startup companies based on substantive scientific or technological innovation.
China’s second-largest property developer, Evergrande, is undergoing a severe liquidity crisis. The company’s shares are down 85% since January 2021, and they are US$300 billion in debt. In a bourse filing on September 14, 2021, Evergrande warned people of a possible liquidity crisis.
Over the last couple of years, tech giant Google has been getting caught up in antitrust lawsuits across the world. From 2017 to 2019, the tech company has been fined US$9.4 billion in Europe alone. In 2021, Google has been hit with a US$177 million fine in South Korea and is undergoing an investigation by the Competition Commission of India (CCI).
Among the hundreds of carmakers worldwide, few are as self-assured as Elon Musk, the CEO of the world’s top electric car manufacturing company. That’s why Musk’s comment on car production being “hard” turned heads.
Your WhatsApp chats are anything but private, as per a new report by ProPublica. Facebook pays over 1,000 contract workers across Austin, Texas, Dublin and Singapore hourly to sift through millions of private messages, images and videos. The workers can only access the messages that users report.
On September 14, 2021, OpenSea, a popular NFT (Non-Fungible Tokens) marketplace startup, admitted to insider trading on their website. Insider trading happens when people—employees or otherwise—use a company’s non-public knowledge to their financial advantage. OpenSea did not reveal the employee’s name; however, Twitter users took advantage of blockchain’s public access and transparency to ascertain who did it.
Imagine this: you’ve won the lottery and you are going to space, accompanied by a billionaire, in Elon Musk’s aircraft. It sounds like a dream. However, it became a reality for air force veteran Chris Sembroski who won this trip to space in a lottery. Inspiration4”—was launched from Florida and represents the first all-civilian crew heading to space. The journey aims to raise funds for St. Jude Children’s Research Hospital.
The global inflation rate in 2020 reached 3.2%, well above the acceptable rate of 2%. This rise in prices is known as inflation, and this was an issue heavily discussed at the Central Bank Jamboree Conference 2021. It indicates that the prices of most everyday products and services, such as food, clothing and housing, increased, as did their demand due to the pandemic.
Silicon Valley entrepreneur Elizabeth Holmes’s journey shows that not all Ivy League-dropout stories are those of success. At 19, Holmes dropped out of Stanford to start Theranos, a health-tech company that set out to revolutionize healthcare by detecting diseases with a single drop of blood. The idea was innovative and promising, so much so that Vice President Joe Biden called it “the future of laboratory science”. Seeing its potential, investors poured over US$400 million into the business.
According to a report by Financial Times (FT), China is planning to break up Ant Group’s online payment platform Alipay. The group has been instructed to create a separate application for its loan payment business. Ant Group’s shares have fallen by more than 4% since the news of the break-up first broke.
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