India’s market regulator has authorised state-owned Life Insurance Corp’s (LIC) $8 billion initial public offering, according to reports quoting sources with firsthand knowledge of the subject. The permission comes after rumours that the initial share sale would be postponed until the next financial year due to market volatility exacerbated by the Ukraine situation. find out…
Sports equipment maker Adidas has managed to secure a sponsorship contract with the Italian national soccer team for the outfit of the European champions starting next year as the company replaced local competitor Puma as for the contract, Adidas said on Wednesday. According to reports quoting sources with knowledge of the matter, the new sponsorship…
CoinZoom, a cryptocurrency exchange based in Utah, has put a stop on new account applications from Russia owing to the country’s escalating war in Ukraine, according to the company’s chief executive officer. While CoinZoom is a relatively unknown cryptocurrency exchange, it is one of the first to temporarily suspend new company operations in Russia. So…
Apple Inc. added 5G connection to the lower-priced iPhone SE and iPad Air as well as a speedier CPU for a new desktop, marking a turning point in the company’s push to power its gadgets with microprocessors created in-house. With the new M1 Ultra CPU, the starting price of the new Studio desktop is at $3,999. Apple’s M1…
The world’s most prestigious luxury companies have announced that they would temporarily suspend storefronts and halt commercial activities in Russia. Hermes, the creator of the Birkin bag, and Richemont, the owner of Cartier, were the first to make similar announcements, followed by LVMH, Kering, and Chanel. Since Russia’s invasion of Ukraine, which caused the United States,…
Ryan Cohen, a billionaire investor, announced on Sunday that he now owns roughly 10 per cent of Bed Bath & Beyond and wants the housewares store to explore strategic options, including a full sale. Cohen, who co-founded online pet supplies store Chewy and is chairman of the board of gaming retailer GameStop Corp, blasted Bed…
Twitter Inc said in a blog post on Thursday that it is extending its crowdsourced fact-checking initiative by making observations on potentially false tweets available to more individuals on Twitter. Last year, the social networking site started the Birdwatch project as an innovative experiment in which users were invited to detect deceptive tweets and submit…
Citigroup’s activities in Ukraine are uncertain for the time being, and the company is apprehensive about a cyber assault by Russia, according to Chief Executive Jane Fraser in an interview with CNBC. According to Fraser, the bank has assisted some of its 200 employees in Ukraine in leaving the country following Russia’s incursion. Those who…
On Thursday, Kroger Co raised its yearly same-store sales and profit forecasts, citing strong demand for its pick-up and delivery services as well as continued home-cooking trends as reasons. In premarket trade, shares of the Ohio-based supermarket climbed almost 6% after the company’s quarterly earnings above expectations. Despite the reopening of restaurants and bars, Americans…
The United States based electric car startup Rivian Automotive Inc announced that it had raised the selling pricing of its vehicles by around 20 per cent owing to inflationary pressures and higher component costs, angering some consumers. Rivian’s “negative gross margin will be staggering” and it is “near impossible” for other companies to make affordable…
