The continued interest and favouritism of investors for fast-growing fintech firmclompanies arounf the world was at display again as the British financial technology start-up TrueLayer saying that it raised $70 million in fresh funding. The known as APIs, or application programming interfaces technology offered by TrueLayer allows the connection between fintech apps such as Revolut…
Share worth $14.7 billion in the Chinese social media and gaming giant Tencent’s has been sold by the firm’s biggest shareholder. The seller plans to use the money generated from the sale for investing in other growth oriented ventures. The Chinese tech giant Tencent said in a Hong Kong Stock Exchange filing on Thursday that…
Japanese conglomerate Toshiba has confirmed recent reports of the company being made an offer of about $20bn for an acquisition by a British private equity fund. After confirming the bid by CVC Capital Partners that it got, trading in the stocks of the scandal hit firm was temporarily halted on Tokyo’s stock exchange. According to…
The historic rally in the price of bitcoin helped that cryptocurrency exchange Coinbase to ramp up its revenues nine folds for the first quarter of the current year compared to the same period a year ago, the company said while preparing for making a debut on the Nasdaq stock exchange next week. Coinbase said in…
In a statement General Motors Co’s President Mark Reuss said, the company is testing a variety of battery chemistry technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals including cobalt. While speaking at an investor conference, Reuss said “GM is experimenting with…
In a report a South Korean newspaper said, SK Hynix Inc, the world’s second-largest memory chip maker, is close to signing a long-term deal to provide automotive memory chips to German auto supplier Robert Bosch GmbH. Both companies are negotiating for a 10 year or more auto memory chip supply chain, reported South Korea’s Maeil…
In the wake of the coup in Myanmar in February, a review of how it would bring to an end a joint venture in the country with a company that is controlled by the military there is being conducted by South Korean steel making giant POSCO, said a report from the news agency Reuters quoting…
The Swiss bank Credit Suisse lost nearly $4.7 billion as well as the jobs of its two top executives because of the collapse of US hedge fund Archegos Capital last month. After taking a charge of 4.4 billion Swiss francs ($4.7 billion) in relation to the failure of Archegos, the bank was likely to report…
An auto industry group in the United States has it warned that the shortage in the global semiconductor market is likely to result in 1.28 million fewer vehicles manufactured this year and disrupt production for the coming six months. In a written response to a government-initiated review, the Alliance for Auto Innovation said the U.S.…
On Tuesday, Isuzu North America Corp and silicon Valley self-driving startup Gatik said, they will collaborate to build autonomous delivery trucks which will be used by Gatik to serve its retailer customers. Gatik works with Walmart Inc in Louisiana and Arkansas and with Loblaw Companies Ltd in Canada to deliver goods to stores from warehouses…
