Visa Inc’s $5.3 billion acquisition of fintech startup Plaid Inc is facing antitrust scrutiny following the U.S. Justice Department filing a court petition on Tuesday demanding more information on the transaction. The DoJ is reviewing the proposed deal to check whether it violates provisions of antitrust law. It has filed a petition with a U.S. district…
Shares of auto insurance startup listed at $27 a piece following its initial public offering (IPO), above its target range, said two sources familiar with the matter at hand, The startup had aimed at raising $663.7 million. Following the IPO, Root, which has $200 million in debt, was valued at $6.7 billion. It had initially…
Data for the late stage trial of its vaccine candidate against Covid-19 is not yet ready to be published, said drug maker Pfizer Inc on Tuesday. The company is developing the vaccine in partnership with Germany’s BioNTech SE. Any interim efficacy analyses had not yet been conducted by the independent monitor that is tasked with…
The global economy could lose out on trillions of dollars because countries and governments are yet to get together to draw a consensus about how to safely restart travel in the midst of the novel coronavirus pandemic, said the chief executive of Dubai Airports. “We don’t have an agreed testing procedure for a reliable, accurate…
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…
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