Shares of Nike reached a record high on Friday after the sports apparel company reported a 3 per cent increase in sales in the most recent quarter. Analysts said that Nike was back in fashion in North America again. This increase in revenues for the US sportswear company for the first quarter was its first…
Amazon has struck an acquisition deal that has the potential to cause huge ripples in the drugstore industry. The largest e-commerce firm in the world is all set to purchase online pharmacy PillPack. None of the companies have disclosed any details of the deal. The companies also announced that they anticipated to close the deal…
While there is rising pressure on large German conglomerates to take similar measures such as the one taken up by General Electric where it announced fragmentation of its business, company executives in Germany need to work in unison with the representative of the labor unions placed on their boards because they have the power to…
Beijing-based, Cayman-domiciled Xiaomi priced its IPO at $2.17 – the bottom end of its indicative range. On Friday, sources close to Xiaomi Corp’s Hong Kong initial public offering (IPO) disclosed, the Chinese firm priced the IPO at the bottom of an indicative range, of HK$17 to HK$22, and raised $4.72 billion. Xiaomi is selling around…
Much of the U.S. government’s stance can be traced back to a report prepared by the U.S. Department of Defense, which warns of Chinese venture investors accessing “the crown jewels of U.S. innovation.” Although the U.S. Administration is pushing to protects national security interests by blocking Chinese investments in the field of artificial intelligence, machine…
The acquisition of 21st Century Fox by Walt Disney worth $17.3 billion has been cleared by the Antitrust Division of the U.S. Department of Justice (DOJ). The U.S. Department of Justice has however mandated the sale of the Fox Sports Regional Networks. The time frame for Disney to conduct the sale would be 90 days…
UK’s largest electric charging network, Chargemaster, is being bought by oil giant BP for £130 million. Earlier this year, BP had said that it expects renewable energy to be the fastest-growing source of fuel despite the company operating 1,200 petrol forecourts. The company said that there would be a rise in the number of electric…
Its investors include KKR & Co, AllianceBernstein and Baillie Gifford. Lyft has a market share of 35% in the U.S. Following a funding round in which it raised $600 million, Lyft Inc said the its latest funding round was led by Fidelity Management which saw the ride-hailing firm’s valuation jump to $15.1 billion in little…
The partnership aims to collect data from vehicle communication, crash detection, and diagnostics and provide big-data analytics to corporate clients, insurers and emergency responders. In a statement, German auto supplier Robert Bosch GmbH and Canadian startup have said, the two firms have teamed up to collaborate on a wide spectrum of digital services in the…
The first small-scale public trial would be conducted for the robotic calling service Google which is able to speak to humans to undertake activities like making a reservation or setting an appointment. The company said that the system will make a few calls in the next few weeks to some businesses. Google did not provide…
