Following a crackdown on the Chinese ride-hailing giant Didi Global in China, US shareholders of the company sued it which resulted in a slump in its shares. It was just a week ago that the company had made a debut at New York Stock Exchange. Since the company was ordered by a Chinese regulator…
A likely 53 per cent surge in its operating profit for the second quarter was ported by Samsung Electronics Co Ltd which was much higher than the estimates of the market – driven by strong chip prices and surge in demand despite lower smartphone sales. Higher by 33 per cent compared to the first quarter,…
London-based fintech companies have increased their funding from venture capital investors in the first six months of this year compared to any year in the past signaling the British capital’s resilience as a fintech hub post-Brexit. nvestors have sunk $5.3 billion into London fintech startups in the first half of 2021. compared to $2.1 billion…
In a significant development 37 U.S. state and district attorneys general have sued Alphabet Inc’s Google alleging that the search engine giant’s search and advertising policies violates antitrust law. The lawsuit, one of a series that has been filed against Google in the United States, comes in the wakes of complaints from app developers regarding…
In a significant development, former U.S. President Donald Trump has filed several lawsuits against Alphabet Inc’s Google, Twitter Inc, and Facebook Inc, alleging that the tech giant have unlawfully silenced conservative points of view. Trump has also filed lawsuits against the CEOs of these three social giants. Trump’s lawsuits, filed in the U.S. District Court…
Two of China’s very popular mobile apps, Tencent’s WeChat and Ant’s Alipay have blocked the light-version app of Didi Global Inc’s ride hailing services in China for new users, said a source familiar with the matter at hand. Didi’s service continues to be available to users who have used them on the platforms earlier, said the…
A A$22.26 billion ($16.7 billion) purchase of Sydney Airport Holdings Pty Ltd has been proposed by a group of infrastructure investors which will be largest ever buyouts of Australia. According to analysts, this proposal was based on longer-term view of the travel sector that has been severely affected by the Covid-19 pandemic. Currently the interest…
The head of the Tokyo Stock Exchange (TSE) said that the bourse has asked Toshiba Corp to make “prompt and appropriate” disclosure about the expanding governance scandal and such a disclosure should include the persons responsible for the scandal. Hiromi Yamaji said that one of the major consistent problems for the company was transparency in…
On Tuesday, Pleo, a Danish fintech platform which offers expense management tool and smart company cards, said it had raised $150 million from U.S. investment firms Bain Capital Ventures and Thrive Capital in its latest funding round which valued it around $1.7 billion. The company has more than 17,000 customers across Denmark, Sweden, Germany, the…
Marketplace data shows, the non-fungible tokens (NFTs) market has surged to new highs during the second quarter clocking $2.5 billion in sales, up from just $13.7 million in the first half of 2020. An NFT is a crypto asset, representing an intangible digital item such as an image, video, or in-game item. Owners of NFTs…
