Category: BUSINESS

Net Giants including Facebook, Telegram & Signal, new cryptocurrencies plan.

SAN FRANCISCO — Some of the world’s biggest internet messaging companies are hoping to succeed where cryptocurrency start-ups have failed by introducing mainstream consumers to the alternative world of digital coins. The internet outfits, including Facebook, Telegram and Signal, are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders. The most anticipated but secretive project is underway at Facebook. The company is working…

Share this
Read More

Uber introduces new electronic chip from NTSA.

Staff Writer

Taxi-hailing firm Uber has introduced a new safety measure that requires vehicle owners to first acquire an electronic chip windscreen sticker from the National Transport and Safety Authority (NTSA). The sticker allows identification and authentication of car ownership before they are certified to offer its service. Uber in a notice to vehicle owners last week said starting March 1 all vehicles were required to have the NTSA’s Radio Frequency Identification sticker before receiving a go-ahead for further inspection at partner stations AutoXpress or Kingsway Tyres. In the latest safety drive,…

Share this
Read More

Cryptocurrency new bottomed in December

A technical indicator that incorporates both bitcoin’s price and trading volume is signaling the cryptocurrency may have bottomed in December. The money flow index (MFI), also known as the volume-weighted relative strength index, is used to identify buying and selling pressure and oscillates between zero to 100. A rising MFI indicates an increase in buying pressure, while a falling MFI is considered a sign of increasing selling pressures. Essentially, the MFI validates or confirms price trends. Many times, however, the indicator diverges from the prevailing market trend. For instance, BTC dashed hopes…

Share this
Read More

New: Naspers Ltd. spun off African pay-TV unit.

Staff Writer

Naspers Ltd. spun off African pay-TV unit MultiChoice Group Ltd. at an initial valuation of about 42 billion rand ($3 billion), enabling the continent’s biggest company to focus on its current incarnation as a global internet-technology firm. MultiChoice shares started trading at 95.5 rand in Johannesburg, and was at 96.15 rand as of 9:13 a.m. Naspers, which makes up almost a fifth of Johannesburg’s stock exchange, traded 2.3 percent lower at 3,069.99 rand after the spin off. Key Insights MultiChoice’s valuation could eventually settle at about $5 billion to $6…

Share this
Read More

New Uber and lyft debut on the stock market

Staff Writer

With the SEC up and running again after the government shutdown, the IPO gears are grinding back to life. Uber Technologies and Lyft Inc., both planning highly-anticipated public offerings, could be two of the first unicorns to take the plunge in the public markets this year. It’s not confirmed publicly which rideshare giant plans to go first, but both reportedly have received feedback from the SEC on their IPO proposals. But the significant disparity in their sizes and valuations could influence how both are ultimately received by the market. That could put pressure on the rival…

Share this
Read More

Andela Secures New $100M Series D Funding.

Staff Writer
Andela

Andela the company building distributed engineering teams with Africa’s top software developers, today announced the completion of a $100M Series D funding. The round was led by Generation Investment Management with participation from existing investors including Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital. The most recent financing brings Andela’s total venture funding to $180M. Andela was founded in 2014 to connect Africa’s engineering talent with the demand for software developers worldwide. With the Series D funding, Andela will accelerate the development of its technology platform to identify,…

Share this
Read More

How AI could bring New difference in 2019

Staff Writer

In 2019, artificial intelligence (AI) will increasingly become a mainstream presence in our work and personal lives, inspiring our purchase decisions and digging deeper into business outcomes and events. At the same time, expectations surrounding AI will also grow, as calls for transparency and fair play become too loud for businesses to ignore. Here are four ways we see AI making a difference in our lives in the new year: AI gets warm and fuzzy. Conversational AI is fast becoming a fact of life; already, 20% of U.S. adults have access to smart speakers in their homes. Google…

Share this
Read More

Vodacom New pay to ex-worker

Staff Writer
1Gbps

Nkosana Makate,  the former employee behind the Please Call Me service, says he is exploring his options after Vodacom decided on a “ridiculous and insulting” sum of money to settle a long-standing dispute between them. Vodacom said over the weekend it considered the matter  “finally settled and closed” after its CEO, Shameel Joosub, had decided on a “reasonable” payment for Makate, the former employee who came up with the idea in late 2000. The mobile operator did not disclose the amount, citing a confidentiality agreement. This comes nearly three years…

Share this
Read More

Apple suffers new biggest single-day loss in 6 years

Staff Writer

The Dow Jones Industrial Average tumbled more than 660 points as Apple stock dropped nearly 10 percent – the biggest single day decline for the company since 2013 – just one day after it slashed its revenue forecast. Shortly after spooking Asian and European investors, CEO Tim Cook’s bombshell announcement rocked Wall Street on Thursday. The drop marked the worst start to a year for both the S&P 500 and the Dow since 2000, while for the Nasdaq it was the weakest start since 2005, according to Market Watch.  The…

Share this
Read More

Bitcoin New sinks below $4,000

banking security

The blood letting is not stopping soon as Bitcoin plunges once again over the weekend and is now trading for less than $4,000 for the first time since September 2017. The cryptocurrency fell to as low as $US3,519.94($4,874) on the Bitstamp platform, after earlier falling to a 14-month low of $3,462,57. It has lost 74 percent of its value so far this year, after hitting nearly $20,000 in December last year. Most other cryptocurrencies are faring just as poorly or worse, and in total, more than $700 billion in market…

Share this
Read More