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Grab the Best Indian Online Shopping Deals & Loot offers from Flipkart, Amazon
Monday, September 30, 2019
Hyundai Announces Urban Air Mobility Division; Officially Joins The Flying Car Race
Hyundai recently announced the creation of its new Urban Air Mobility (UAM) division, marking its entry into the flying automotive development business. The automotive company’s new division will primarily be focused on the development of flying cars to solve traffic problems on the ground.
Spearheading the division will be Dr Jaiwon Shin, a former engineer from NASA. Before his appointment, Shin was involved in NASA’s Aeronautics Research Mission Directorate and took part in several of NASA’s aeronautics research initiatives. Including the development of the supersonic X-Plane and the electrification of aircraft.
According to Shin, he expects that the UAM sector will grow into a market worth US$1.5 trillion (~RM6.28 trillion) over a span of 20 years. Further, Hyundai says that Shin’s expertise in aviation engines, safety, and air traffic management will allow it to take the lead in the urban air mobility sector.
Hyundai isn’t the first automotive company to want its own urban air mobility vehicle. Corporations such as Uber, Volocopter, Kitty Hawk and Boeing have been in the race longer, and in turn have also established their own “flying car” divisions. On that note, the Malaysian government has also been working on its own flying car project, with a prototype expected to be shown sometime this month.
unifi Offers Free Fibre Packages Until The End of The Year
unifi today has unveiled a new promo called Pay Nothing which offers a waiver on customers monthly bill until the end of this year. Interestingly, unifi is offering the promo to both existing and new customers.
Things are rather straight forward for new customers as what they need to do is just register for a new package. As for existing customers, it is not exactly complicated since they just need to renew their contract in order to obtain the free Internet until the end of this year but we do know some customers would rather keep their out-of-contract status intact.
Meanwhile, not unifi package are eligible for the new Pay Nothing promo though. Among the packages that are excluded from this promo include the unifi Basic 60GB, unifi Lite, and unifi Air. Also do note that unifi Mobile as well as CCTV add-on, Video On Demand, call usages, and one time charges are being excluded too.
With that, head on to unifi’s official website right here to learn more about the promo. We do recommend you to thoroughly read and understand the promo’s FAQ and TnC documents on the website, so that you really know what you are signing up for.
Blizzard Pull Destiny 2 From Battle.NET Launcher Ahead Of Steam Launch
Come 2 October (that’s tomorrow, by the way), Destiny 2 will officially be playable on Steam. In preparation of its grand relaunching, the game has already been taken off from the Activision Blizzard’s Battle.net launcher.
For players who still have the game installed via Battle.net, Destiny 2 will still be listed on the platform, but only the “Uninstall” will be seen on the front. Upon choosing to uninstall the game, the title will no longer be listed on the page.
Destiny 2 has been removed from Battle.net.
Earlier this year, Bungie terminated its partnership with Activision after nearly a decade of working together. Bungie announced that it would still retain the rights to Destiny 2. It wasn’t until June this year that the video game developer announced that it would be re-launching the game on Steam.
To entice Destiny 2 players to continue playing, Bungie has made the base game plus all expansions released prior to the migration free-to-play. However, the upcoming expansion, Shadowkeep, will need to be purchased. The expansion retails from RM138 for the standard edition, while the Deluxe edition that contains all the latest season pass and special items retails for RM234.
The Rock Ends Beef With Vin Diesel and Possible Cameo in Fast & Furious 9
Dwayne ‘The Rock’ Johnson and Vin Diesel have been feuding for years now. The two actors first appeared on screen together in 2011’s Fast Five, the film that pumped adrenaline into the once-dying franchise and laid the groundwork for Fast & Furious to become one of the biggest brands in cinema today. One fine day in 2016, The Rock suddenly took to Instagram to call out a particular “candy ass” he was working with on The Fate of the Furious (the eighth film in the franchise).
Many speculated that The Rock was referring to Vin Diesel. Some of their fellow Fast & Furious “family members” even confirmed as much. Over the years, both The Rock and Diesel have repeatedly thrown shade at each other. The Rock leading the franchise’s first spinoff and being excluded from the cast of Fast & Furious 9 only fuelled the grapevine fire even further.
However, in a surprising turn of events, it looks like The Rock has now took to Instagram to seemingly mark the end of their feud? The Brahman Bull (yes, I’m a wrestling dork) first took a break from his workout to thank the fans who made Hobbs & Shaw a massive global success (the Fast & Furious spinoff grossed more than $US 750 million worldwide). He then said:
“Last but not least, I want to thank brother Vin for your support of Hobbs & Shaw. I saw your post and I appreciate it. Lauren and I appreciate the wedding congratulations. We send love back. It was a very classy post and I appreciate it, brother.”
Not only that, The Rock also went on to say:
“What a wild ride this is and what a wild ride this has been when you and I spoke and you invited me into the Fast & Furious family. I’m grateful for that invite.
As you know, my goal was always, all these years, to come into the Fast & Furious world and help elevate the franchise in any way that I possibly could. If I could do that, then I’ve done my job, and now here we are 10 years later, this massively successful buildout and expansion. We did it the right way, we did it the smart way, and again, brother, I appreciate your support.”
But perhaps the most intriguing part of the whole video was The Rock’s cryptic final line:
“And, of course, all roads lead to one thing. I’ll be seeing you soon, Toretto.”
Toretto, by the way, is the name of Vin Diesel’s character in the franchise. Does this mean that The Rock could be making a short appearance in Fast & Furious 9 as a prelude to Fast & Furious 10? It’s entirely possible.
Vice President of Domino’s Pizza Malaysia, Shamsul Amree gave a brief explanation of the entire chain of events leading up to the police report – and admitted that Domino’s were at fault for getting the police involved, and causing unnecessary and undue distress to their customers.
Shamsul Amree has also assured current and future Domino’s customers that they have learned a hard lesson from this fiasco and assures that it will not be repeated.
The police complaints filed against it’s customers has also been revoked, and Shamsul Amree has personally visited the aggrieved customers to apologize for their action.
Knee-jerk reactions are never a good solution, and we hope that future disputes between service providers and customers will be handled in a much more tactful and amicable manner.
This AI Platform Identifies Privacy Threats in Social Networks and Messengers
Preserving your online privacy has become almost a lost cause these days. Thankfully, some entrepreneurial minds have taken it upon themselves to help web users stay informed of privacy risks and take action to thwart attempts to access their personal data. Guard is a platform which is doing exactly that.
Everyone has multiple online accounts, and most of us are worried about their digital personality being targeted by data collectors and marketing researchers. But we are also guilty of compromising our own security as very few people actually read the small print when subscribing to a service.
The people behind Guard have analyzed the privacy policies of major social networks, forums, and messengers, including some of those that are widely used by the crypto community. Their quest has produced some interesting and helpful results.
The developers have examined the user agreements many of us have with platforms such as Twitter, Instagram, Youtube, Whatsapp, Linkedin, Tinder, Pinterest, Netflix, and Aliexpress. Forums and messengers used by cryptocurrency enthusiasts like Reddit and Telegram are also part of their study.
Guard has discovered privacy threats and data leak scandals involving these services and has ranked them according to the findings. The platform has employed artificial intelligence to produce its ratings. It also surveys visitors on its website to learn what they consider a threat to their privacy and to teach the AI taking into account their input.
Analyzing the Privacy Policy
Among the networks that are of particular interest for members of the crypto community, Reddit, which offers a platform for cryptocurrency news and discussion, has received a “neutral” verdict from Guard. There have been no scandals around its user data practices but 24 privacy threats have been identified by the research.
The two risks that have been singled out in the report about Reddit concern the possibility of your information being shared with advertisers and the fact that your data may be recorded indefinitely. The forum keeps a complete log of all sent messages even when the accounts are deleted and retains the IP addresses from which they were created.
Telegram, the messenger that enjoys the most popularity with crypto enthusiasts because of its encryption features, has a “good” verdict. Telegram assures users that it never shares personal data with anyone and does not store your secret chats on its servers. Guard’s analysis has found only one potential threat in its privacy policy, a line that reads: “We never delete your funny cat pictures, we love them too much.”
Among the popular social networks, Twitter, Instagram and Tumblr have scored poorly in the ratings. There’s also a notable omission – Facebook, despite its own share of cases involving compromised user data. However, Guard accepts suggestions about the next site or product you think should be analyzed and rated. The company is also developing specialized software that will be able to block trackers, delete online activity, confuse algorithms and pollute collected personal data.
Privacy in financial transactions is best guaranteed by decentralized currencies and related services. If you want to join the crypto space, you can do so by acquiring your first coins at buy.Bitcoin.com, where you can safely and securely purchase BCH and other leading cryptocurrencies with a credit card. You can also trade your crypto assets on our noncustodial, peer-to-peer marketplace, local.Bitcoin.com, which already has thousands of users.
Have you thoroughly read the privacy policies of the social networks and messaging platforms you are using? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
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It’s Official: Xiaomi Mi Mix 4 is not coming; Mi Mix Alpha is truly ‘alpha’ for now
Last week, Xiaomi had a launch event where the masses expected to see Mi Mix 4 5G to launch with Mi 9 Pro 5G although the former part didn’t materialize. Soon, reports of one of the most advanced concept phone Xiaomi Mi Mix Alpha with a wrap-around display started pouring in which has ignited the craze among Xiaomi community that was finally released on September 24. But a recent post by Xiaomi’s brand promotion manager dictates that Xiaomi Mi Mix 4 won’t be coming.
Some leaksters were adamant that Xiaomi Mi Mix 4 would release soon although it seems dubious since it will be named Mi Mix 5 cause China considered the number ‘4’ as an omen but here, the final answer is, there won’t be any new Mi Mix 4 or 5 but just one model i.e. the newly teased Mi Mix Alpha. This was confirmed recently by Bishop Edward who is a brand promotion manager at the Chinese smartphone giant who also teased that MIUI 11 ad a new Xiaomi Full Screen TV Pro are releasing too but no Mi Mix 4.
Xiaomi has a reputation of experimenting with new technologies and for years, Mi Mix series has been at the forefront with latest technologies such as piezoelectric speakers and no bezels around three sides on Mi Mix while a more attuned slider designed Mi Mix 3 with 5G released earlier this year too.
However, Xiaomi has released yet another Mi Mix device that is called Mi Mix Alpha which comes with a mind-boggling 180% screen-to-body ratio along with the latest 108MP primary sensor from Samsung. You read it right, I said 180% because it has a wrap-around display which goes all the way to the back panel covering the left and right edges all with a display that can be interacted with.
The device is truly stunning with a 7.9-inch display which warps the display with a 180% screen-to-body ratio. Made up of high-quality aerospace-grade frame, the front let’s user interact while the rear display act as a world into AI. The phone has a triple camera setup with 108MP primary sensor at the back on a ceramic built strip while a 20MP and 12MP are flanked with it too with sapphire glass lens so don’t expect it to be delicate at all. The device has a Qualcomm Snapdragon 855 Plus SoC flanked with 12GB RAM and 512GB of internal storage onboard.
The bummer is its price tag which is estimated to be around $2,800 which is around Rs2,00,000 so that’s kind of a big deal. This puts it above the price tags of both Huawei Mate X and Samsung Galaxy Fold which have a price tag of around $1,500 (unconfirmed) and $1,980 at the moment.
Dragon Quest of the Stars coming to mobile in the West in early 2020
Square Enix will bring its Dragon Quest of the Stars game to Android and iOS in the West in early 2020.
The mobile RPG first released in Japan in 2015.
The game will allow players to create their own characters based on designs from Akira Toriyama, the creator of Dragon Ball and longtime character designer of Dragon Quest. Along with two other party members, players will embark on a space-faring journey to save the universe. Alternatively, up to four players can team up in online multiplayer.
In terms of gameplay, players will face off against classic Dragon Quest monsters in traditional turn-based combat. However, the catch in Dragon Quest of the Stars is strategically managing a skill gauge to use commands at the appropriate time.
As with most mobile games, Dragon Quest of the Stars will be free-to-play with in-app purchases. It’s currently unclear exactly what players will be able to spend real money on, but it’s presumably tied to some sort of in-game currency to level up characters.
Android players interested in taking part in the game’s Closed Beta Test can register on Square Enix’s website. The beta begins on October 30th.
It’s important to note that this isn’t the same game as Dragon Quest Walk, which is inspired by Pokémon Go. That game is currently only slated for Japan and is not yet confirmed to be coming to the West.
Canadian-made Cuphead hits 5 million copies sold, goes on sale across all platforms
Oakville, Ontario-based indie developer Studio MDHR has revealed that it has sold five million copies of its acclaimed run-and-gun game Cuphead.
The studio announced the sales milestone in commemoration of the game’s second anniversary on September 29th.
To celebrate, Studio MDHR is also offering the game for $20.59 (20 percent off its regular price) across all platforms it’s available on — Xbox One, PC, Mac and Nintendo Switch. Note that the Xbox One and PC versions are cross-buy, meaning that purchasing Cuphead on one platform will offer access to the game on the other platform at no additional cost.
This is a particularly big year for Cuphead overall.
Studio MDHR is currently developing an expansion called The Delicious Last Course that will add new levels, enemies and a third playable character to the game. The Delicious Last Course is set to release sometime in 2020.
Meanwhile, the studio is also overseeing a Cupheadanimated comedy series for Netflix, although it’s unclear when that may hit the streaming service.
Uber wants you to stop hitting cyclists with your car door
"Who farted?"
Uber is using public mapping data to send safety alerts reminding you to double check for cyclists when you open your car door.
The ridesharing service announced today that it would be bringing ‘car-dooring’ precautions to its UK app. The new safety alerts will encourage customers to use the ‘Dutch Reach’ technique when being dropped off near a cycle lane, a share cycle route or an area commonly frequented by cyclists.
The Dutch Reach involves reaching to open the door with the hand furthest away from the door handle, forcing riders to check over their shoulder for oncoming traffic and unwitting cyclists when they reach their destination.
“By cleverly combining data and education, we hope that more passengers will practice caution around cyclists, and ultimately improve the safety on our roads”, said Uber Head of New Mobility Fred Jones. “Whether you’re an Uber passenger or a cyclist we want to help you get there safely”.
This change comes after Censuswide data suggested that more than one fifth of people forget to check for cyclists before opening a car door on a regular basis and that 16% had actually admitted to opening a car door in front of a cyclist in the past.
The research additionally showed that 66% of cyclists who didn’t feel safe on public roads cited a lack of awareness from other road users as one of their top concerns when it comes to taking their bike out on the road.
“It’s vitally important to educate anyone who uses a car to check before opening their door as every year around 60 cyclists are killed or seriously injured by car dooring incidents. It’s also one of the reasons people tell us puts them off from cycling”, said Cycling UK Head of Campaigns Duncan Dollimore.
“The Dutch Reach is a simple technique that few people use but could make a real difference to the number of collisions in the UK, and combined with Uber’s alert to passengers, encouraging them to look over their shoulders before opening their door, it should mean our roads are becoming safer for cyclists everywhere”.
This date also comes shortly after Uber’s move into the e-bike market with the launch of JUMP in May. The new safety alerts are set to be a huge reassurance for the company’s newer demographic alongside its usual rideshare users.
Judge rules Musk tweet, Tesla practices broke labour laws
Californian administrative law judge Amita Baman Tracy has ruled that Tesla committed a series of labour violations in 2017 and 2018.
According to a Bloomberg report, the judge said the car-maker threatened and retaliated against employees. One incident included a 2018 tweet from Elon Musk, which suggested employees who chose to join a union would give up company-paid stock options. Tracy ruled that was a violation of the American National Labor Relations Act.
Nothing stopping Tesla team at our car plant from voting union. Could do so tmrw if they wanted. But why pay union dues & give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare.
The judge ordered Tesla to offer reinstatement and back-pay to a fired, pro-union employee. Tracy also called for a warning issued to another union supporter be revoked. Finally, the ruling asks the company to hold a meeting at its assembly plant in Fremont, California, which Musk must attend. Either he or an agent with the National Labor Relations Board (NLRB) must read a notice to employees informing them that the company broke the law.
The ruling was issued in response to complaints filed by the United Auto Workers (UAW) union.
Tesla will likely appeal the ruling to the NLRB members, who are presidential appointees based in Washington. Bloomberg reports that both sides see an appeal as basically inevitable. Even Tracy felt as much, saying “This will be appealed no matter what I decide,” during the trial.
Ultimately, the NLRB has limited ability to punish companies that violate labour laws. However, the ruling could prove useful to UAW supporters in making a case to workers.
Rainbow Six Siege Cheaters Can Now Forcefully Change The Operator Of Other Players
When it comes to cheating in Rainbow Six Siege (R6), more often than not, the act typically revolves around tools such as wallhacking and aimbots. The latest hack in-game is now allowing cheaters to pick specific Operators for other players, based to their own liking.
Initial reports of the offending act was first posted on Twitter by a Croatian Siege player known as Lakii (@Lakii_R6). In his tweet, Lakii posted a short a clip where he had picked Caveira as his Operator and locked her in. But was forcefully changed to Bandit Operator by a cheater after he finalised his pick.
Further, Lakii also shared in the thread that he found the same cheater again in ranked matches and it seemed that they are able to cheat away letting players equip developer exclusive skins.
PCGamesN points out that this issue isn’t widespread yet, and with good reason. As it stands, Ubisoft is instating permanent bans on R6 Siege players who engage in cheating. Lakii had tagged Ubisoft Support Twitter account in his tweet, but at the time of writing, Ubisoft has not released any statement or respond to the tweet.
The Vivo V17 Pro is due to be launched tomorrow, 1 October 2019. Most of its specs is already out in the open, with the bit of information still missing is its price. The last remaining surprise may have been spoilt, as the exact figure has been spotted earlier today.
Retailer DirectD had on its Facebook page listed the price of the Vivo V17 Pro via a shot of the phone in a retail store. The post also came with the store’s pre-order promo for the phone. The post itself appears to be gone, but another post appears to have taken the place of the previous one. It comes with the same caption, but features the V17 Pro’s promotional video instead.
To quickly recap, the Vivo V17 Pro is expected to come with a Qualcomm Snapdragon 675 chipset, 8GB of RAM, 128GB of internal storage and a 4100mAh battery. It also has a fingerprint sensor under its 6.44-inch Full HD+ display. It’s also expected to come with a quad-camera combo at the back, with a pair of front-facing cameras that pop up from the top.
At this point, it seems likely that the price of the Vivo V17 Pro is indeed RM1699. That said, the company has yet to announce the availability of the phone. We’ll keep you posted when we learn when that is, in addition to anything else the company may announce tomorrow.
Project xCloud: All the latest details on the Xbox streaming service
Streaming could arguably be the future of gaming, withGoogle StadiaandGeForce Nowalready cementing themselves as major players in this unusual battleground. Now, Microsoft is throwing its weight into the ring with Project xCloud, a new service set to accompany its next-generation console – Xbox 2.
With a public trial coming later this year, it’s time to delve into the nitty gritty of Project xCloud, exactly what it’s capable of and how players will be able to their hands on it.Trusted Reviewshas compiled everything you need to know right here.
Project xCloud is Microsoft’s solution to cloud streaming, specifically when it comes to gaming across Xbox and Windows. Instead of replacing the next generation of console hardware, Microsoft hopes to have it act as a companion for players across a variety of devices.
In essence, it will hope to include your gaming library, friends list, achievements and everything that defines your Xbox Live identity. Microsoft has made it abundantly clear it’s keen to grow is ecosystem, whether through multi-platform play or its Game Pass subscription service. xCloud is yet another layer to this.
Where can I use Project xCloud?
While the full list of compatible devices remains unconfirmed, and will likely change and/or grow following the beta trial, Project xCloud aims to work across consoles, personal computers, tablets and phones. So long as you have access to a stable internet connection and a method of controlling the games, xCloud should be trivial to enjoy.
A concrete release date for Project xCloud remains unconfirmed, although Microsoft will be holding a trial period for the streaming service in October 2019 with a selection of specific games. This will be limited across US, UK and Korea, with more territories to follow. It seems the company is still testing the waters, hoping to perfect things before unleashing it on the general public.
You can register for the trial here. It will allow selected players to test out a small variety of games on phones and tablets. The confirmed games include Sea of Thieves, Halo 5: Guardians and Killer Instinct. For the trial’s duration, these will be free to play to your heart’s content – so get stuck in. This trial will be limited to Android devices, and you’ll also require Bluetooth 4.0 and a wireless controller to enjoy the games.
What are the Project xCloud specs?
Microsoft hasn’t released a list of specifications for Project xCloud, although we do have a rough idea of the architecture ticking away underneath its virtual hood. It will run through Microsoft’s Azure computing centres, 140 of which are situated around the world and will ensure players can run games through xCloud with minimal latency and decent image quality. The proof is obviously in the pudding, but this is reassuring to hear.
What games are on Project xCloud?
The endgame of Project xCloud is to have your entire Xbox library available within the cloud and accessible within a matter of minutes. However, that ultimatum likely won’t come into fruition for a number of years. For now, Microsoft has confirmed a handful of titles coming as part of the service’s open beta which include Gears 5, Sea of Thieves, Killer Instinct and more. We’ll be sure to update the list as it continues to grow.
Brain Training is making a comeback on Nintendo Switch, and it comes with an official stylus
Nintendo has announced a new installment in its hugely popular Brain Training franchise, and it’s coming toSwitchlater this year with a dedicated peripheral of its own to boot.
Dr. Kawashima’s Brain Training was a colossal blockbuster on the Nintendo DS family of systems, selling millions of copies as it helped establish the handheld as something anyone could pick up and play.
Now, after a long absence, the accessible puzzle experience is making a welcome comeback on Nintendo Switch, with a new installment debuting on Nintendo Switch before this year comes to a close.
Brain Training for Nintendo Switch will launch exclusively for the platform on December 27, coinciding with the release of a dedicated stylus for the console – which we could see working well with a bunch of different titles.
Details on a western release outside of Japan remain unconfirmed, but given the franchise’s legacy and its huge popularity, it feels very likely we’ll see it localised. When is the big question, and we’ll be sure to keep you updated on any major developments.
This new Switch iteration will introduce a variety of new puzzle mechanics alongside a dedicated multiplayer mode where you and a friend can presumably work together or compete to solve head-scratching brainteasers.
New gameplay mechanics will include new IR tests, online competitions, stylus tracking and the previously mentioned multiplayer mode we assume will be incorporated into new puzzles the game will be introducing.
It seems the multiplayer mode will involve removing the joy-con controllers and, in some instances, making use of the motion controls and HD Rumble to solve creative yet devious riddles. It sounds like a fascinating mix on the Brain Training formula for sure.
Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide
Banks are laying off workers across the globe as revenue declines throughout the sector. According to reports, banks have announced nearly 60,000 job cuts so far this year, with most of the layoffs happening in Europe, especially in Germany.
Bank employees are being laid off worldwide. Negative interest rates, political uncertainty and threats of trade wars on a global level have all played their part in eroding banks’ balance sheets, along with interest rate cuts which further reduce margins.
According to year-to-date company filings and labor union disclosures compiled by Bloomberg, banks have announced that they are cutting 58,200 jobs so far this year. The biggest layoffs are in Europe, where 52,424 jobs, or 90% of the total layoffs, are being slashed, as the European banking sector continues to struggle with profitability. Moreover, 2,769 workers in North America are being let go, as are 2,487 in the Middle East and Africa and 513 in the Asia Pacific region.
Global layoff breakdown. Source: company filings, labor union disclosures, and Bloomberg.
Furthermore, the data shows ten banks that have laid off the most workers in Europe, with Deutsche Bank leading the pack with 18,000 job cuts. The other banks on the top 10 list are Banco Santander, Commerzbank, HSBC, Barclays, Alfa Bank, KBC, Societe Generale, Caixabank, and the National Bank of Greece.
German Banks Lag Behind Others
The health of Germany’s financial sector has been a top concern for regulators and politicians for quite some time. The low interest rate environment, a global economic slowdown, trade tensions, geopolitical uncertainty, added to structural vulnerability and domestic economic weakness, have negatively impacted German banks. Lenders in Europe’s largest economy sit on large deposits so they are more dependent on lending than those in many other European countries.
The European banking sector has long faced calls for consolidation as banks struggle to generate profits. Two leading German banks — Deutsche Bank and Commerzbank — have attempted a merger, but it fell through early this year, resulting in the pair independently announcing major layoffs.
At the top of the downsize list is Deutsche Bank, which began laying off 18,000 workers in July as part of an $8.3 billion overhaul. According to reports, Germany’s largest bank plans to exit its equities sales and trading business as well as its fixed-income business, but will retain a small equity capital markets business. The bank had 91,737 employees at the end of 2018, almost 6,000 fewer than the previous year. The layoffs would shrink its workforce to roughly 74,000 employees by 2022. Deutsche Bank is also dealing with German authorities probing for information about the relation of its Frankfurt headquarters to Danske Bank, which is currently at the center of a massive money-laundering scandal.
Domestic rival Commerzbank, with about 1,000 branches and offices in almost 50 countries, is also downsizing. The German government is a major shareholder of this bank. Commerzbank announced last week a plan to lay off 4,300 of its 49,000 employees in some areas, but will add 2,000 jobs in “strategic areas.” A fifth of its branches will also be closed down in a strategy overhaul.
Layoffs Happening Worldwide
Other European and global banks have made similar announcements. “The main factors that could substantially impede European economic sentiment and growth remain the risk of further economic de-globalization, including an escalation of trade conflicts, Brexit and political turmoil in some euro area countries,” KBC Group detailed in its second-quarter earnings presentation for analysts. The bank-insurance group employs 42,000 people, has 1,389 bank branches, and operates primarily in Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. The group also announced this month that its Belgian workforce will be reduced by 1,400 in three years.
Banking giant HSBC is also downsizing. Following the stepping down of former CEO John Flint after being on the job for only 18 months, the bank announced in August that it will cut 4,700 jobs. CFO Ewen Stevenson said up to 2% of the bank’s workforce will go. HSBC group employes 237,685 as of June 30.
British multinational bank Barclays already cut 3,000 jobs in the second quarter, CEO Jes Staley and CFO Tushar Morzaria confirmed on an earnings call in August. At the end of last year, the group employed 83,500 staff, according to its annual report.
Spain’s largest bank, Banco Santander, agreed with unions in June to lay off 3,223 workers in Spain as part of the bank’s effort to integrate Banco Popular, a financial services conglomerate with 1,600 branches across Spain. At the end of March, Santander had 32,366 employees and 4,366 branches in Spain. Earlier this year, the bank said it will close 140 branches in the U.K., putting more than 1,200 jobs at risk. Another Spanish bank, Caixabank, announced in January a layoff of 2,157 employees, cutting 7.3% of its total workforce. The largest Catalan bank also plans to close down over 800 branches in Spain out of its 4,461 branches in operation by 2021.
One of the largest privately owned banks in Russia, Alfa Bank, is also reducing its workforce. The bank currently employs more than 24,000 workers. CEO Vladimir Verkhoshinsky reportedly said that 3,000 employees, or 12% of the bank’s workforce, will be laid off by the end of the year. This number adds to the 2,000 workers who left the bank during the first quarter. According to reports, the layoffs are mainly due to the bank’s decision to migrate from providing loans in brick-and-mortar stores to offering them online.
France’s third-largest bank, Societe Generale, has also revealed its plans to cut 1,600 jobs, mainly at its corporate and investment banking arm. The bank, which employs 18,000 people in 30 countries, also said in April that it would cut 750 jobs in France.
Other banks that are downsizing include Citigroup, which revealed in July its plans to lay off hundreds of people. BNP Paribas reached an agreement with unions in March to cut as many as 2,500 jobs at its Belgian retail banking unit by 2021. The bank employs 13,000 people in Belgium. Further, the data compiled by Bloomberg shows that the National Bank of Greece is laying off 1,700 workers.
What do you think of banks’ massive layoffs? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock and Bloomberg.
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Philips Hue Sale: Get over £20 off the Philips Hue Lightstrip and Extension Kit Bundle
Today’s one-day only deal sees the Philips Hue Lightstrip Plus LED kit and Lightstrip Extension kit reduced by £21.84.
Get creative with the way you light up your home with Philips Hue and its range of lightstrip sets. Better still invest in this bundle deal and get an amazing saving paying just £54.99, with the original value of buying separately setting you back a stonking £76.83.
Accent your home with great lighting utilising Philips Hue's lighting strip kits and get two for this discounted rate. Equipped with millions of colour profiles and an astonishing 50,000 variants of white light alone, light up kitchen cabinets, entertainment set-ups, and more.
A discount of £21.84, save just under £55 and bring even more colourful smart lighting to the interior of your home with a 2-metre lighting strip kit and additional 1-metre extension kit.
With Philips Hue, the possibilities of designing light seem endless, going far beyond its means of simply providing better-lit rooms. Packing 50,000 shades of white light alone, as well as millions of other hues of colour, play with colour to create different atmospheres and cosy environments and add accents to certain areas of the household.
Philips Hue products can also sync up to what’s playing on screen, or the music you’re listening to, creating an even more immersive visual or sound depending on where you decide to house your smart lighting.
With the Philips Hue lighting strips in particular, the smart lighting brand provides a simple way to incorporate beautiful lighting into their spaces. Great for highlighting under kitchen cabinets, backlighting entertainment set-ups, bed frames or even behind the sofa if you fancy it, each strip comes with adhesive tape, allowing you to easily snip and stick to achieve your desired effect.
Accent your home with great lighting utilising Philips Hue's lighting strip kits and get two for this discounted rate. Equipped with millions of colour profiles and an astonishing 50,000 variants of white light alone, light up kitchen cabinets, entertainment set-ups, and more.
Of course, with any Philips Hue gadgets you can also activate it by connecting to smart home systems like the Amazon Echo, Google Home, Apple HomeKit and more. With the power of just your voice, turn on and off and also set colour profiles through the Philips Hue smartphone app.
Double the fun, bring a splash of colour to the lighting in your home and get the Philips Hue Lightstrip Kit and Extension Kit together for a fantastic £21.84 saving before this excellent value price ends at midnight.
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Next Stage of 5G in Malaysia To Begin In October With 55 Initial Live Projects Across The Peninsular
The Malaysian Communications and Multimedia Commission (MCMC) earlier today has organized yet another briefing to discuss the progress of 5G implementation in Malaysia. Even though the regulatory body has previously mentioned that the commercial rollout of 5G commercial in Malaysia is expected to take place only in 2021 or 2022, it seems the project is taking progressing rather rapidly based on the information that was revealed at today’s briefing.
According to the Chairman of MCMC, Al-Ishsal Ishak, the next step of 5G implementation in Malaysia would be the live demo projects that are going to be deployed throughout the country. This particular phase will start from October 2019 until March 2020.
While MCMC is still receiving proposals as we speak, today’s briefing has revealed that 55 demo projects have been approved so far which will take place at 32 live 5G sites in 6 states across Peninsular Malaysia. These demo projects involved nine verticals including agriculture, healthcare, education, entertainment & media, manufacturing, oil & gas, smart city, smart transportation, and tourism as shown below:
Said to also involve an investment in the tune of RM 116 million, Al-Ishsal insists that these demo projects are funded directly by the companies that are involved in them. He further clarified that none of these investments came from MCMC or the government and has also pointed out that the 5G implementation is a cross-industry collaboration involving multiple stakeholders.
As for the states that are yet to confirm the scope of their participation in the 5G project, he pointed out that MCMC is more than happy to look into any proposals from them as well as other interested parties out there. Further details regarding these upcoming 5G demo projects will be announced further by the companies that involved in them, so expect to hear more updates regarding these 5G projects very soon.
