Google fined $2.7 bn for manipulating search engine resultsGoogle has been handed a record-breaking fine €2.42bn fine by the European Union for abusing its dominance of the search engine market in building its online shopping service. European regulators gave the tech giant 90 days to stop its illegal activities or face fines of up to 5% of the average daily worldwide turnover of parent company Alphabet. Read more at BBC.
Former Apple executive Chris Lattner leaves Tesla after 6 months on the jobThe growth of Reliance Jio subscriber base and its free offering till 2016-17 fourth quarter has led to a 11.7 per cent year-on-year decline (8.5 per cent quarter-on-quarter decline) in industry revenues, a report by Jefferies said here on Wednesday. Incumbents like Bharti Airtel, Vodafone India and Idea Cellular, who began to cut data rates even before Reliance Jio's commercial foray in September 2016, reduced prices further even after the fourth quarter of 2016 in anticipation of losing more subscribers. Read more at Business Standard.
20 Indian firms in Top 100 companies in Asia 300 RankingTwenty Indian firms have been named in the top 100 of Nikkei Asian Review's Asia 300 companies list. It is the most powerful and valuable listed companies in Asia. The list was topped by Taiwan’s Largan Precision, the world’s leading maker of lenses for smart phone cameras. Indian IT service provider HCL Technologies came in at the second place, followed by Zee Entertainment Enterprises and Tata Consultancy Services at the third and fourth place respectively. Read more at Economic Times.
Snapdeal claims no payment due to sellers on its platformSnapdeal said today that it does not owe money to sellers on its platform, in response to the allegations of a seller group, which sought government intervention to stop Snapdeal’s impending merger with Flipkart until it settles their payment dues. Snapdeal claims that payments to sellers are made six to ten times per month and typically sellers receive the same within three to five days of the sale of their goods and that there are no outstanding amounts due in this regard. Read more at Thenextweb.