NASA to launch the $10 billion James Webb Space Telescope on Dec. 18

The James Webb Space Telescope, which astronomers hope to herald a new era of discovery, will launch on Dec. 18, NASA said on Wednesday. The $10 billion observatory (about Rs. 73,700 crores), which is a joint project by NASA, the European Space Agency and the Canadian Space Agency, will take off on an Ariane 5 … Read more

Hydrogen fuel electric car makers in India claim $3.5 billion worth of incentives

India will give about $3.5 billion (about Rs. 25,735 cores) in incentives to automakers over a five-year period under a revised scheme to boost clean-tech vehicle manufacturing and export, two sources aware of the latest proposal told Reuters. The government’s original plan was to give around $8 billion (about Rs. 58,830 crores) to automakers and … Read more

Intel to invest up to 80 billion euros to increase EU chip capacity: CEO Pat Gelsinger

Intel said it could invest up to EUR 80 billion (about INR 6,97,050 crores) over the next decade to increase chip capacity in the European region and will open its semiconductor plant in Ireland to automakers. Intel CEO Pat Gelsinger, speaking at the IAA Motor Show in Munich, also said the company will announce the … Read more

PayPal heats up, buy now, pay later with $2.7 billion deal in Japan

PayPal said it would buy the Japanese company buy now, pay later (BNPL) Paidy in a $2.7 billion (about INR 19,840 crores) deal largely up front, taking another step towards claiming first place in a industry witnessing a pandemic-led boom. The deal follows rival Square’s deal last month to buy the success story of Australian … Read more

Toyota will spend $13.5 billion to develop EV battery technology and supplies by 2030

Toyota Motor said on Tuesday it expects to spend more than $13.5 billion (about INR 99,030 crores) by 2030 to develop batteries and its battery supply system – a bid to lead key automotive technology in the next decade . The world’s largest automaker by volume, which pioneered gasoline-electric hybrid vehicles with the popular Prius, … Read more

Samsung offered huge tax breaks to build a $17 billion chip factory in Texas City

The city of Taylor, Texas – one of two locations in the state under consideration by Samsung Electronics for a $17 billion (about Rs. 1,24,200 crores) chip factory – plans to offer broad property tax exemptions if chosen by South Korean technology giant. Taylor is competing with Austin, Texas, to build the plant, which is … Read more

SMIC to invest $8.87 billion in new chip factory in Shanghai

SMIC will invest $8.87 billion (about INR 64,830 crores) to build a chip factory in Shanghai, expanding capacity amid a global chip shortage, while Beijing pushes to increase independence in the sector. The expansion of China’s biggest chip maker comes as shortages have shaken the auto and electronics industries, spurring new capacity plans by companies … Read more

Satish Kumbhani, founder of BitConnect, accused of $2 billion cryptocurrency fraud by the US SEC

The top US securities regulator has sued the founder of the now-defunct cryptocurrency exchange platform BitConnect for his alleged role in fraudulently raising nearly $2 billion (about INR 14,600 crores) from thousands of retail investors. Expanding on a civil case announced in May, the US Securities and Exchange Commission accused BitConnect founder Satish Kumbhani, an … Read more

Telegram reaches 1 billion downloads globally, with India as the biggest market: report

Telegram has become the latest app to surpass the billion downloads mark globally, according to a report. The instant messaging app, which exists at the end of 2013, competes with Facebook’s WhatsApp and Messenger. It managed to increase its market presence amid public outrage over the recent update of WhatsApp’s privacy policy. Telegram also introduced … Read more

PayU prospectus to buy BillDesk Payments Company for $4.7 billion

Technology investor Prosus said on Tuesday that it has agreed to buy Indian payment platform BillDesk for $4.7 billion (about Rs. 34,380 crores) to complement its own PayU business. “Together, the two hope to create a financial ecosystem that handles 4 billion transactions annually – four times the current level of PayU in India,” the … Read more