Bugatti and Rimac Automobili are good technology fit: Porsche AG’s CEO

In a development that further fuels speculation of an impending deal between Volkswagen’s supercar brand Bugatti and electric hypercar maker Rimac Automobili, Porsche AG’s CEO told German weekly Automobilwoche that both companies make a good technological fit. Last year, British automotive magazine Car had reported that VW was on the brink of selling Bugatti to…

China’s Sichuan Yahua Industrial Group signs 5 year battery grade lithium supply deal with Tesla

In a statement China’s Sichuan Yahua Industrial Group Co Ltd stated, it has signed a deal to supply battery-grade lithium hydroxide to Tesla Inc for the next five years. According to a filing in the Shenzhen Stock Exchange, Yahua has placed the total value of the contract, signed by its wholly-owned subsidiary Yaan Lithium, at…

Reddit acquires short video platform Dubsmash in cash & stock deal

In a statement social network firm Reddit said, it would acquire TikTok rival short-video platform Dubsmash. Although Reddit did not disclose the financial terms of the deal its spokeswoman said the acquisition was based on a combination of cash and stock. TikTok’s proliferance has led many social media companies to add short-video services to their…

Delaware court rules in investment bank Mirae Asset Daewoo Co’s favour, Anbang Insurance Group to pay $3.685 million in costs

On Tuesday, South Korean investment bank Mirae Asset Daewoo Co Ltd stated, it has won a U.S. lawsuit against China’s Anbang Insurance Group. The development comes in the wake of Mirae Asset affiliates scrapping a $5.8 billion deal to buy 15 U.S. hotels from Anbang, which then had filed a lawsuit against the South Korean…

Daimler signs licensing agreement with Sharp Corp after losing patent lawsuit

On Wednesday, in a statement Sharp Corp said, German automaker Daimler has signed a licensing agreement with it following a settlement in a patent infringement lawsuit concerning in-vehicle mobile communications technology. In a court ruling last month, Sharp won the patent dispute with a German court allowing Sharp to enforce a sales ban against Daimler…

Property technology startup Opendoor aims to go public, in advanced talks with Social Capital Hedosophia Holdings Corp

According to a report from Bloomberg citing sources with knowledge of the matter at hand, property technology startup Opendoor, is holding advanced talks to go public through a merger with blank-check company Social Capital Hedosophia Holdings Corp. The report states, Social Capital is negotiating with prospective investors to raise fresh equity to help fund its…