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Week-O-Pedia 24Th June 2016

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Week-O-Pedia 24Th June 2016 Week-O-Pedia 24th June 2016 The week that was... Tata Sons to pay $1.17B to Docomo in damages InMobi fined $950k for tracking users’ location A London court ordered Tata Sons to pay $1.17B in damages to Japan’s Mobile advertising platform InMobi has been fined $950k by Federal Trade NTT Docomo for breaching an agreement Commision (FTC) for deceptively tracking locations of customers without their Docomo claimed Tata Sons failed to find a suitable buyer for Docomo’s knowledge or consent 25.6% stake in Tata Teleservices under an agreement signed between them The location was tracked for geo-targeted advertising Court further asked Tata to designate a buyer for Docomo’s stake in Tata InMobi is subject to $4 million penalty, which is suspended to $950k based on Teleservices company’s financial condition Cabinet approves 10,000 crore fund for startups Ola gets license to operate in Karnataka The Union Cabinet on Wednesday approved the establishment of 10,000 Karnataka’s transport department has issued a license to Ola under the crore ‘Fund of Funds for Startups’ as a part of ‘Startup India Action Plan’ state’s On-Demand Transportation Technology Aggregators Rule 2016 unveiled by PM Modi in January The rule requires cabs to have digital meters capable of printing receipts and The fund is expected to provide a predictable and stable source of funding fares not to be higher than that fixed by the state government for startup enterprises and facilitate large scale job creation Notably, Uber is yet to obtain a license from the government Reach us at http://www.iims-conquest.in Follow us on What a strategy... Myntra tests ‘Try on Delivery’ Tencent to buy ‘Clash of Clans’ FDI reforms to let Apple open service in Bengaluru maker Supercell stores in India Flipkart-owned fashion marketplace Myntra is piloting Chinese internet company Tencent on Tuesday agreed to According to reports, the FDI reforms announced on a ‘Try on Delivery’ service on its orders in Bengaluru buy a majority stake in Supercell, the developer of the Monday would allow tech giant Apple to open its outlets Launched around two weeks ago, the service is popular game ‘Clash of Clans’, from SoftBank at a cost of in India available at select pincodes of Bengaluru $8.6 billion The 30% local sourcing norm, which served as a “We recognize that one of the barriers to buying fashion The deal is expected to value Supercell at $10.2 billion roadblock for single-brand foreign retailers to open their online is the lack of touch, feel and trial factor”, said Notably, Tencent already owns computer game ‘League of outlets in India, was relaxed for firms having cutting-edge Manish Pansari, Vice Predident of Supply Chain at Legends’ developed by Riot Games technology Myntra Apple’s technology had earlier been described as ‘Cutting Edge’ by a government panel Straight from the horse's mouth Counterfeit goods have no place in Alibaba: Ma Chinese online retail giant Alibaba’s Founder and CEO Jack Ma on Wednesday said, “Counterfeit goods are absolutely unacceptable, and brands and their intellectual property must be protected” “Alibaba is only interested in supporting those manufacturers who innovate and invest in their own brands. We have zero tolerance for those who rip off other people’s intellectual property” said Jack Ma Earlier this month, Ma stated that fake products are better than the real ones Reach us at http://www.iims-conquest.in Follow us on Data that awe us... Brexit May Have Adverse Impact on JLR Operations United Kingdom's exit from the European Union (EU) may affect adversely operations at Jaguar Land Rover (JLR), which contributes almost 90% to profits of auto major Tata Motors In the UK, JLR has joined the ranks of Britain's auto industry body, the Society of Motor Manufacturers and Traders' (SMMT), and cautioned exiting the EU would increase costs and threaten jobs Europe accounted for 24% of JLR's sales last fiscal, up from 19% the year before. Together UK and Europe contribute 44% to JLR's volumes. JLR sources 35-40% of components from EU The results of a recent independent survey , announced by SMMT revealed that 88% of large motor industry businesses and 73% of smaller and medium-sized enterprises actively wanted to stay in the EU, and 77% of the industry as a whole agreed Europe was best for business. This is because even if UK exits EU and inks a free trade agreement, it will still lead to the loss of a third of the industry and 80,000 direct jobs in the intervening two years of uncertainty , it said For Your Information... Ken Miyauchi replaces Nikesh Arora at SoftBank Softbank group on Wednesday named Ken Miyauchi as its new president and Chief Operating Oficer after Nikesh Arora resigned on Tuesday Miyauchi currently serves as the Director of SoftBank Group and also as the President and CEO of the company’s telecommunication and Internet arm, SoftBank Corporation Masayoshi Son will remain the Chairman and CEO of the SoftBank group Nikesh Arora, who resigned on Tuesday as the President of SoftBank, earned about $135 million between joining the company in Sep 2014 and Mar 2015 Reach us at http://www.iims-conquest.in/ Follow us on.
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