ByteDance, the parent firm of popular short video platform TikTok, is retreating from the gaming business by cutting jobs and units, the Internet giant said on Monday, following weekend rumors that the Beijing-headquartered company would shut down its whole games division. “Following a recent (regular business) review, we’ve made the difficult decision to restructure our…
TikTok maker ByteDance is restructuring its video game business to deliver “long-term strategic growth.” Reuters is reporting the Chinese company plans to shut down its Nuverse gaming brand and exit the mainstream game market. Nuverse is the parent company of studios including Mobile Legends: Bang Bang developer Moonton and Houchi Shoujo maker C4Games. It has…
The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench, comprising of Justice Rakesh Kumar Jain (Judicial Member) and Shri Naresh Salecha (Technical Member), has upheld the order whereby the NCLT had initiated Corporate Insolvency Resolution Process (CIRP) against Birla Tyres Ltd. (Corporate Debtor). Background Facts Birla Tyres Ltd. is a part of B.K. Birla…
SHANGHAI, Nov 27 (Reuters) – Chinese tech giant Alibaba (9988.HK) has cut a quantum computing laboratory and team from its research arm, donating both the lab and related experimental equipment to Zhejiang University, the company said on Monday. A spokesperson for Alibaba’s DAMO Academy, Alibaba’s in-house research initiative which included the lab, said the academy…
Think & Learn, the parent company of Byjus, has elevated Jiny Thattil as its Chief Technology Officer. He takes over from Anil Goel, who is leaving the edtech company after three years as CTO. Thattil, who has been serving as Senior Vice President, Engineering at Byjus, brings extensive experience in building and scaling engineering teams.…
The macroeconomic benefits of debt relief have far-reaching implications for both consumers and businesses. This analysis by 3D Chess Media highlights the pivotal role of the top 5 companies in propelling these benefits. LAS VEGAS, Nov. 27, 2023 /PRNewswire/ — Debt relief has been an ongoing topic of discussion among economists, policymakers, and consumers alike.…
Today, Bioservo Technologies (BIOS), a company within wearable grip-strengthening systems for people in need of extra strength and endurance, announces that the board of directors will propose to the shareholders that the company enters into voluntary liquidation. Despite significant interest in Bioservo’s technology from companies in the industrial segment and numerous evaluation projects, the sales…
By Wayne Robinson | 24 November 2023 Peter Wagener has had to put all his display print companies in liquidation, but has vowed he will be back next month, after paying all his suppliers in full. Returning in December: Peter Wagener To cap a drama-filled week, which Wagener described as “ridiculous” the liquidation itself is…
ByteDance’s gaming ambition has been an expensive, short-lived pursuit. In late 2021, the TikTok parent’s plans for video games came into the spotlight after it became one of the firm’s six core business units, posing a new threat to incumbents such as Tencent and NetEase and rising star MiHoYo. Nonetheless, after two years of tepid…
An aircraft lessor is heading to Delhi High Court to execute a judgment it obtained against SpiceJet (SG, Delhi International) in the UK High Court. Cross Ocean Partners, the lessor behind the special purpose vehicle (SPV) known as VS MSN 36118 CAY Designated Activity Company, is pursuing the low-cost carrier for around INR900 million rupees…