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Nokia becomes the latest corporate giant to leave Russia

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Russia is set to say goodbye to Nokia, with the telecom company set to cease operations in the country amid the war in Ukraine

Telecommunications giant Nokia is pulling out of the Russian market.

This move will impact around 2,000 workers with the company’s CEO saying business in the country will be suspended indefinitely.

Telecommunication was one sector that have received exemptions related to sanctions.

The company could have remained.. operating in Russia on humanitarian or related grounds but Nokia says withdrawing from the country is the only option.

The CEO says Nokia ” just simply does not see any possibilities to continue in the country under the current circumstances”.

The company has assured they will support customers during the withdrawal.

It is still unclear how long this process will take.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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This move is set to boost Australia’s crypto gains

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Coinbase is coming down under, in a major boost for the country’s crypto gains

The crypto platform is calling the country “a priority market”.

It will add its local payments platform so Australians can transfer dollars into their Coinbase account.

There will also be advanced trading tools and better pricing.

Users will also receive 24 hour support, where they can ask all about their accounts and concerns.

The exchange is registered with a local regulator to provide its digital currency exchange services.

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TikTok’s parent company loses $7bn

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TikTok’s Parent company sees losses grow as it tries to outplay Facebook, Instagram and YouTube

TikTok’s parent company, ByteDance, has experienced a loss of more than $7 billion dollars in operating costs, tripling last year’s records.

The company attributes the huge loss to its massive investment in global growth. It detailed the results in a financial report which was provided to internal stakeholders.

In the first quarter of 2022, the company recorded a profit in its operating costs, with the company’s revenue expanding by more than 80% to $61.7 billion in 2021.

But expenses that are focused on expanding its products worldwide continue to swell at a rapid rate.

While TikTok is one of ByteDance’s most successful and well-known products, the company owns a wide range of digital platforms including: Douyin, Toutiao, Vigo Video, Helo, Lark and BytePlus. In total, it attracts hundreds of millions of users in China alone and 1 billion TikTok users worldwide.

The internal report was emailed to all ByteDance’s 130,000 employees. In a note of assurance, company execs “remain confident in the strength of our business and organisation.”

The ability for ByteDance to continue to invest in the company’s growth is clearly a strong advantage the company has over its competitors in the market.

A new report found Australians spent more time on TikTok in the last 12 months than on Facebook, a leader for many years in the space.

With other platforms such as Facebook, Instagram and YouTube scrambling to compete with TikTok, it seems ByteDance must have a long-term expansion strategy in mind.

The company is evidently trying to arrive at a place where such massive losses relating to operating will be a distant memory.

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How to score one of 500,000 free airline tickets up for grabs

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Virgin Atlantic has made the controversial decision to stop operating in Hong Kong

It says the war in Ukraine and restricted air space are the reasons behind the change.

Customers will be offered a refund if they wish.

The war in Ukraine has caused many airlines to pause routes because of safety concerns.

It comes as Hong Kong is set to give away 500,000 airline tickets as it looks to bring tourists back after the pandemic.

The major deal is part of the city’s push to bring life back to the city, which has been under strict COVID measures for much of the last two years.

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