The proposals for a $5 billion financing deal for the office sharing company WeWork form its largest shareholder Japan’s SoftBank Group Corp and its main lender JPMorgan Chase & Co is being considered very seriously by the parent company of WeWork, The We Company, which has set up a special board committee to dive into…
A report prepared by the G7 group says that until such time that Facebook is able to prove the safety and security of its Libra cryptocurrency, the planned digital currency must not allowed to go ahead, claimed a report published by BBC. Analysts see this as a big blow to the aspirations of Facebook to…
With the likes of Disney and Apple Inc. entering the video streaming business, there are apprehensions about whether Netflix, the pioneer in the video streaming industry, be able to weather and survive the soon-to-start streaming wars. Despite the apprehensions, United States based banking and investment firm Goldman Sachs strongly believes that Netflix will be able…
There was a 30 per cent drop in sale for the United States based car major Ford in the Chinese market for the July-to-September period as the second-biggest market of the company has been witnessing a prolonged period of sale drop on across the sector. The company had reported a 35.8 per cent drop in…
The chief executive of the French car manufacturer Renault Thierry Bolloré, has been unceremoniously dismissed by the company with immediate effect. The company has also appointed the current finance director, Clotilde Delbos, of the company an interim chief executive. Earlier this week, the Japanese car maker Nissan, Renault’s industrial partner, appointed a new chief executive.…
Following the emergence of reports about the ten-fold increase in losses at the UK subsidiaries of the embattled office space company WeWork touching £76m last year, the company’s co-founder Adam Neumann is no longer a multibillionaire. It is estimated that as of March this year, the personal assets of Neumann was worth $4.1bn (£3.2bn) and…
With the aim of making a sizable dent in the growing sports gambling market in the United States, two of the largest brands in the online betting industry have decided to join hands and go together. The owner of the world’s largest poker site, PokerStars The Stars Group of Canada, will be bought by Flutter…
After months of rumor making the rounds of the tech world, Microsoft finally acknowledged that there was existence of the Surface Neo , which is the company’s two-screened foldable laptop that has been talked about a lot in the industry in recent times. Panos Panay, Microsoft’s chief product officer, said at an event in New…
There has been a drop of 16 per cent year on year in the third quarter in the global mergers and acquisitions (M&A) activities. According to Refinitiv data this is the lowest level of such activity since 2016 because of increasing uncertainty in geopolitical and economic circumstances which had reduced the intention of companies to…
The stock market debut for the Chinese smartphone maker that has become a dominant player in the African smartphone market has been a major hit. There was a 96 per cent rise in the stock prices of Transsion, which is a leader in Africa’s phone market, soon after its shares were listed publicly at the…
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