A potential could be announced as early as next week. According to a report from Bloomberg, Exact Sciences Corp, a cancer diagnostics company, is in advanced negotiations to acquire Genomic Health Inc for around $2.8 billion in order to strengthen its cancer testing unit. The potential deal could be announced as early as next week;…
Complicating the negotiations is the fact that a July 19 deadline that was set by CFIUS has lapsed. Further, the U.S. government has also joined in as a trustee to oversee the sale. In a significant development, according to sources familiar with the matter at hand, following a U.S. national security panel asking Pamplona Capital…
Nubank was valued at more than $10 billion in its latest funding round. In a statement Brazilian fintech startup Nubank stated, it has raised $400 million in a new funding round led by TCV, a U.S. investment firm. Its existing investors include China’s Tencent Holdings Ltd, Ribbit Capital, DST Global, Dragoneer, and Sequoia Capital. Thrive…
First half profit at the French auto maker Renault saw a drop because of subdued demand for cars globally and a 95 per cent drop in the profits of its alliance partner Nissan following the Carlos Ghosn episode. That prompted Renault to issue a warning of a drop in revenue for the complete year. In…
Revenue for Nokia is increasing because of increasing demand for construction of 5G networks. And the sanctions against the market leader and Chinese tech giant Huawei is also reportedly benefitting Nokia In the second quarter, there was a 7 per cent increase in the sale revenue of Nokia at €5.7 billion euros or $6.3 billion,…
Following an investigation the Cambridge Analytica data breach related to Facebook which lasted for a year, concluded that the social media company had ‘deceived’ its users about their ability to keep personal information private and hence imposed a penalty of $5bn on Facebook. A lawsuit against Cambridge Analytica was also announced by the United States…
The largest sportswear making company Nike Inc is reportedly looking at options for its surfwear brand Hurley International which also includes a possible sale of the business unit, claimed a report published by Reuters news agency quoting sources with knowledge of the issue. The possible exit of Nike from the global surfwear market is reflective…
SoftBank’s second fund has already secured funding from Standard Chartered Plc and Goldman Sachs Group Inc. According to a report from the Wall Street Journal, Japan’s SoftBank Group Corp will invest $40 billion in its second Vision Fund. SoftBank’s board will meet on Thursday to approve the commitment. SoftBank’s first, $100 billion Vision Fund was…
There has been growing criticism of the increasing reach and power of major tech companies in the United States and elsewhere which has prompted the US justice department to initiate a broad antitrust review of such firms. The major focus of the antitrust probe would be based on increasing complaints that competition is being illegally…
While the settlement resolves a major regulatory overhead for Facebook, the embattled social media giant still faces potential antitrust probes from the FTC and Justice Department. On Wednesday, in a significant development, the Federal Trade Commission stated, Facebook Inc has agreed to pay $5 billion as part of a sweeping settlement to create a board…
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