The public market debut of South Korea’s largest e-commerce company, Coupang Inc, reportedly generated roughly $33 billion gain on paper for Japan’s SoftBank Group Corp earlier this week. This marked a dramatic turnaround for the $100 billion Vision Fund of the conglomerate. Coupang raised S$4.6 billion in the US stock market’s biggest initial public offering…
An almost 20 per cent stake in Canada-based cannabis producer Organigram for an estimated value of $175.8 million would be taken up by British American Tobacco, as a part of its strategy to diversify into businesses other than tobacco, said the maker of Lucky Strike and other cigarette brands. Organigram grows its own cannabis and…
LG Energy Solution is looking at building at least two new factories in the United States for making batteries and has made plans for making an investment of more than US$4.5 billion in the country for the purpose by 2025 which would result in the creation of about 4,000 new jobs, said an executive of…
In a development that sets the groundwork for electric vehicles in India, one of the country’s biggest power generation and transmission company Tata Power said, it is exploring an arrangement with Tesla Inc to set up charging infrastructure in the country. Talks are in initial stages and agreements are yet to be signed, cautioned sources.…
According to a senior executive from South Korea’s LG Energy Solution, the company plans on investing more than $4.5 billion in its U.S. battery production business over a span of four years; as part of that strategy, it plans on building at least two new plants. The investment will boost the U.S. battery production capacity…
WPP, the world’s biggest advertising company said, it would immediately relaunch its buyback scheme. The development comes in the wake of its efforts to help clients shift online to get through the worst of the pandemic. The company took a major hit in early 2020 because of the coronavirus-induced COVID-19 pandemic which triggered its clients…
On Thursday, in a statement Israel Aerospace Industries (IAI) said, it would jointly develop an advanced drone defence system with the United Arab Emirates’ state-owned weapons maker EDGE. With both countries formalizing relations in 2020, trade, commerce and defense relations have got closer over concerns over common foe Iran. In a statement, Israeli state-owned IAI…
On Thursday, in a statement, the Chinese Semiconductor Industry Association (CSIA) said, it aims to establish a working group with its U.S-based counterpart. The development marks a key shift from the Trump Administration’s moves to levy costs on China following a stream of intelligence reports of cyber campaigns launched by Beijing backed actors to steal…
Athene Holding Ltd will be acquired by Apollo Global Management Inc in an all-stock deal worth $11 billion which will result in adding an annuities provider to Apollo that had helped the company to become one of the largest corporate credit investors of the world. Athene has been paying annuities provider to Apollo for over…
According to one of the hackers who was involved in the breach, a small group of hackers were able to view live and archived surveillance footage from hundreds of businesses including that of Tesla Inc over the past two days. Hackers gained access to live footage after gaining administrative access to camera maker Verkada. Tillie…
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