Digital music company Believe aims to raise $608M through its Paris stock market listing

On Monday, digital music company Believe stated it plans to come out with a stock market listing in Paris with an aim to raise around $608 million (500 million euros) so as to finance its expansion. Believe’s digital music brands,  Believe Distribution Services, TuneCore, Groove Attack, Nuclear Blast, Naïve, and AllPoints, compete in a sector…

‘Good Momentum’ Prompts Siemens To Once Again Raise Profit And Sales Guidance

Following its estimate beating earnings for its second quarter, the German conglomerate Siemens also increased its profit and sale guidance for the full year which was a second such raise by the company so far in its fiscal year. Moving into the second half of its fiscal year, the company has “good momentum” which the…

Strong Demand For Premium Cars Prompts Volkswagen To Lift Margin Target For 2021

There was strong demand for its car models that delivers higher margins during the first three months of the year said the German car maker and the largest car maker of Europe, Volkswagen, which prompted the company to raise its operating margin target for the current year. An operating profit margin of between 5.5 and…

GM Bucks Chip Shortage Hit With Quarterly Profits As High Margin Model Demand Grows

Despite a global semiconductor chip shortage, better than expected results for the first quarter was announced by General Motors Co as the company managed to keep costs low and focused on sale of pickup trucks and SUVs that deliver higher margins. The company expects its pre-tax profit for the current year to come in at…

Elon Musk’s Starlink satellite internet service receives 500,000 preorders

In a statement SpaceX’s founder Elon Musk said, the company has received more than 500,000 preorders for its Starlink satellite internet service and anticipates no technical problems at meeting that demand. The “only limitation is high density of users in urban areas,” tweeted Musk in response to a post from a CNBC reporter that said the…