A financial crisis at a United States based hedge fund will likely have severe impact on the profits of two of the largest investments banks, the banks have warned recently. The crisis is likely to have a large and significant effect on the results for its next quarter, said Switzerland’s second largest bank Credit Suisse.…
After a long time since its block buster initial public offering (IPO) in the United States was jeopardized by a row over its market valuation, the US based workspace sharing firm WeWork will now be attempting to go public again – this time through the route of a merger with blank-check firm BowX Acquisition Corp.…
The first luxury brand to be hit by the Chinese backlash to Western accusations of abuses in Xinjiang was Burberry which lost a Chinese brand ambassador while its hallmark tartan design was brushed away from a popular video game in the country. A number of organisations and individuals in the UK were sanctioned by China…
The latest tech company to venture into the area of manufacturing electric vehicles is China’s Xiaomi Corp plans which plans to use the factories of Chinese auto maker Great Wall Motor Co Ltd’s factory, said a report published by the news agency Reuters. Following the publication of the news, the stocks of Xiaomi went up…
The largest social media company of the world Facebook and the animation firm Giphy was given just give working days by the competition regulators of the United Kingdom to come up with definitive proposals and submit the same with the regulator about the way the companies want to address the concerns of the regulator about…
Preliminary figures released on Wednesday showed that there was an expansion business activity in the euro area in March. However, any recovery could be derailed by a third wave of the pandemic in the region even as infections of Covid-19 are rising. Compared to 48.1 in February, the IHS Markit’s flash composite PMI for the…
According to a report by the influential magazine Consumer Reports published from the United States, concerns about user privacy are being raised because of the in-car cameras of Tesla’s car which are used to record and transmit video footage of passengers for the development of the company’s self-driving technology. The benefits of driver monitoring are…
A Malaysia-based businessman has purchased the first tweet ever that was sent by Twitter founder Jack Dorsey for the equivalent of $2.9m. Dorsey gas auctioned off the tweet which said “just setting up my twttr,” and was first published on March 21, 2006 for charity. The purchase of the tweet was compared to that of…
A bid offer to purchase Australia’s Crown Resorts Ltd in a proposed deal where the casino operator was valued at $6.2 billion was made by Blackstone Group Inc. the valuation offered for Crown Resorts is lower than the value of the troubled company a year go. And yet this could be good news for the…
The food delivery company Deliveroo set its market value range of $12 billion which could see the company making the biggest stock market debut in the United Kingdom since the public listing of commodities giant Glencore almost a decade ago. This Initial Public Offerings (IPO) is of significant importance for the British government and it…
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