PayPal Reports Rise in Profits, Weak Transaction Volumes

Payment processor PayPal Holdings Inc, spun off from eBay Inc reported quarterly revenue slightly below analysts’ expectations as a strong dollar hurt its transaction volumes in China and Europe. Shares of PayPal, which listed for the second time on the Nasdaq in July, fell 5.6 percent in extended trading on Wednesday. PayPal’s third-quarter revenue rose […]

Oracle to Build High School on Its Silicon Valley Campus

Oracle founder Larry Ellison already owns an island in Hawaii. Now, his company is building a high school next to its Silicon Valley headquarters to help fulfill Ellison’s desire to teach students more about technology and problem-solving. The plan unveiled Tuesday at an Oracle customer conference calls for the business software maker to complete the […]

Internet Freedom Falls for Fifth Year in Row

Global online freedom declined for a fifth consecutive year as more governments stepped up electronic surveillance and clamped down on dissidents using blogs or social media, a survey showed Wednesday. The annual report by non-government watchdog Freedom House said the setbacks were especially noticeable in the Middle East, reversing gains seen in the Arab Spring. […]

Oracle Says Fully Supports 'Digital India' Initiative

Giving a fillip to Oracle CEO Mark Hurd’s commitment to expand its base amid a positive mood in India, top Oracle executive Thomas Kurian announced that the leading cloud services provider fully supports the latest digital initiatives launched by the Indian government. “Oracle is committed towards Prime Minister Narendra Modi’s ambitious ‘Digital India’ initiative. In […]

Jabong Ropes in Benetton's Sanjeev Mohanty as CEO

Online fashion marketplace Jabong Saturday said it has appointed Sanjeev Mohanty as its CEO and Managing Director. Mohanty, whose appointment is effective early December this year, has over 20 years of experience in the fashion industry, the company said in a statement. Prior to this, he has worked with Benetton India for over 11 years, […]

Flipkart Opens Its Largest Warehouse in Hyderabad

India’s biggest e-commerce company Flipkart plans to invest $2 billion (roughly Rs. 13,067 crores) in logistics and another $500 million (roughly Rs. 3,266 crores) in a nationwide warehouse network over the next four to five years, co-founder and COO Binny Bansal said on Friday. The company, which opened its largest fulfilment centre here, is looking […]

Internet Freedom Has Improved in India

Internet freedom has “improved” in India in the last one year due to the Supreme Court’s landmark ruling on the IT Act, a US-based independent watchdog has said, placing the world’s largest democratic country under “partly free” category. “Internet freedom improved in India for the second consecutive year in 2015, even as more governments worldwide […]

Snapdeal Diwali Sale Day One Saw 'Record' Traffic, Sales

E-commerce marketplace Snapdeal said that the Electronics Monday Sale was the highest ever traffic experienced by the platform, where five mobiles were sold every second. In a statement issued on Monday evening, the company claimed that it was on track to reach $100 million in sales (roughly Rs. 647 crores). “It has been our biggest […]