The Chinese fintech giant Ant Group seems to be completely ready to make the biggest ever stock market debut in the world. Shares worth about $34.4bn on the Shanghai and Hong Kong stock markets is to be sold by the company which is backed by Jack Ma – the billionaire founder of e-commerce platform Alibaba.…
According to the founder of the Chinese fintech giant Ant Group, Jack Ma, the huge dual listing of the company in China will turn out to be the largest ever in the world when calculated on the basis of a pricing determined on Friday night. “It’s the first time that the pricing of such a…
American lender Goldman Sachs will be paying out almost $3bn to close a probe over its role in the 1MDB corruption scandal of Malaysia. According to the an admission in the US court by the bank’s Malaysian subsidiary, it had paid bribes worth more than $1bn to win the contract to raise money for the…
It was just six months ago that streaming service Quibi had launched as a company in the United States but earlier this week the company said that it was winding down its business and operations and was soon to initiate a process for selling off its assets. According to analysts, this sudden announcement by the…
Chinese telecom and smartphone maker Huawei reported a drop in its sales growth following the tightening of restrictions against the Chinese tech company by the United States which has cut off the company’s access from the key technologies to a much greater extent. In the first nine months of 2020 it generated 671.3 billion yuan…
In a response to a tweet, Tesla Inc’s CEO Elon Musk suggested that the carmaker is likely to foray into the Indian car market next year. Maharastra, India’s richest state, had invited the U.S. electric carmaker to invest in the country. In a tweet on Thursday, the state’s tourism and environment minister Aaditya Thackeray said,…
In a statement Airbnb Inc stated it was hiring former Apple designer Jony Ive and his firm to design new Airbnb products and services, under a multi-year contract agreement, Incidentally, Ive was a close creative collaborator with Apple Inc’s co-founder Steve Jobs and has spent nearly three decades in Cupertino leading the design of the candy-colored…
In a bid to offer faster deliveries, on Thursday, Amazon.com Inc stated, it has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside Mexico City. The new sites includes two fulfillment centers, with one located near the northern city of Monterrey and the other near the central city of Guadalajara,…
In a significant development General Motors Co said, its first year of its GMC Hummer EV electric pickup truck has been sold out. GMC’s website shows a “reservations full” banner over the Hummer EV “Edition 1,” which is scheduled to commence production in the fall of 2021. Its next version, the Hummer EV 3X, which sets…
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