October, 2017

• 3 October

  TCS defends US visa use in anti-white worker bias case

  

  Bloomberg As India’s Tata Consultancy Services Ltd. is squeezed by the Trump administration to reduce the use of overseas workers for US jobs, the information technology outsourcing giant is also fighting claims in court that its hiring practices are anti-American. TCS, Asia’s largest software maker, and Infosys Ltd., a rival Indian outsourcing firm, are both embroiled in civil rights lawsuits ...

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• 3 October

  India’s Ola gets $2 billion from SoftBank, Tencent

  

  Bloomberg Ola scored $2 billion in new funding from a group of investors including SoftBank Group Corp. and Tencent Holdings Ltd., a person familiar with the matter said, helping bankroll Uber Technologies Inc.’s fiercest rival in India. Other backers in the ride-hailing startup’s latest financing round included a venture capital fund jointly run by Indian industrialist Ratan Tata and the ...

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• 3 October

  Mobike, Ofo investors are in talks to merge China startups

  

  Bloomberg Mobike and Ofo investors are in early talks to push China’s two largest bike-sharing startups into a merger, aimed at ending a costly competitive battle and creating a single dominant player in the fast-growing business, according to people familiar with the matter. Investors in both companies have been holding talks to sort through issues such as how to split ...

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• 3 October

  Chocolate has an ally in social media for its seduction of Asia

  

  Bloomberg While connoisseurs in developed nations jaded by chocolate’s ubiquity seek out bars that are unique in provenance, aroma and texture, aspiring consumers in large swaths of Asia are still developing their taste for the treat. In China, for example, “chocolate is not fully part of the diet and preference,” according to Niels Boetje, the managing director for the Asia ...

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• 3 October

  Facebook strengthens reviews after 10 million saw Russian ads

  

  ­­­­­­­­­­­Bloomberg Facebook Inc. outlined plans to strengthen its advertisement systems and disclosed that about 10 million people saw ads linked to Russian efforts to influence the 2016 US presidential election. The social media giant said it will add more than 1,000 people to review the ads that run on its platforms. Additionally, the company said it provided information on about ...

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• 3 October

  ‘UK will leave a $23bn hole in EU budget in trade deal’

  

  Bloomberg The UK will leave a $23 billion hole in the European Union’s budget unless the bloc agrees to give Theresa May the sweeping Brexit trade deal she wants, according to senior British officials. Britain won’t fulfill May’s offer to cover the UK’s share of the EU budget through 2020 without a broader Brexit deal, said the officials, speaking on ...

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• 3 October

  Tesla falters with its Model 3 output

  

  Bloomberg Tesla Inc. struggled to produce its cheapest model shortly after the car debuted, setting back Chief Executive Officer Elon Musk’s mission to reach mainstream consumers. The automaker built only 260 Model 3s during the quarter ended in September, less than a fifth of its 1,500-unit forecast. Output of the sedan that starts at $35,000–roughly half the cost of the ...

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• 3 October

  Manhattan resale home prices set a record

  Bloomberg The price of Manhattan resale homes hit a record in the third quarter, but sellers shouldn’t get too bullish. It took some discounting to get there. Owners pared an average of 6.8 percent off their asking prices in the quarter—the second-most since 2010—and the adjustments spurred a flurry of sales at all price levels, pushing the resale median up ...

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• 3 October

  Uber new CEO flies to UK to fight case

  

  Bloomberg When Uber’s new chief executive officer touches down in London, he’ll find an irate regulator, divided drivers, galvanised rivals, and a key regional manager who’s just announced her exit. Dara Khosrowshahi was in the UK capital for an emergency meeting on Tuesday with transportation authorities to try to salvage the company’s business in its largest European market. Khosrowshahi’s arrival ...

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• 3 October

  Starbucks, Google assailed by investors over gender policies

  

  Bloomberg Investors focused on social issues are finding that trickle-down diversity doesn’t work. For years, they surmised that having enough women on boards and in senior management would produce fairer policies. Now investors are changing tactics, saying it’s not enough and that employers also need to implement gender-pay equity and paid-leave policies that attract and retain women. Zevin Asset Management, ...

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