Walmart looking to invest up to $25 billion in Tata Group’s upcoming digital platform

On Tuesday, according to a report from the Mint newspaper which cites sources familiar with the matter at hand, Walmart Inc is in talks with India’s Tata Group for a potential investment of up to $25 billion in its new “super app”. The new “super app could be launched as a joint venture between Tata…

Estonia’s ride-sharing service provider Bolt launches e-scooter in 45 cities

On Wednesday, Estonia’s Bolt, a ride-sharing service provider, launched its own electric scooter model with the aim of launching the scooter service in more than 45 cities this summer. The Estonian company has grabbed business from Uber in many major African and Eastern Europe cities. Bolt has more than 30 million users in over 35…

AI firm SambaNova Systems raises $250M in Series C funding round

In a statement, SambaNova Systems, an artificial intelligence computing firm stated, it has raised $250 million in its latest funding round which was led by BlackRock Inc. Investors at SambaNova’s Series C funding round included the venture capital arms of both Intel Corp and Alphabet Inc, Walden International, WRVI Capital and Redline Capital. Palo Alto,…

London hedge funds and asset managers being targeted by internet scammers

Rogue internet operators have targeted some of London’s top hedge funds and asset managers by cloning their websites and names in an attempt to dupe unsuspecting investors. Although few individuals are known to have fallen to this scam, two of Europe’s most prominent investors Winton and Algebris are among the highest profile names to be…

China’s coronavirus threatens mobile phone industry: Qualcomm’s CFO

The coronavirus outbreak in China poses a potential threat to the mobile phone industry, said Qualcomm Inc while adding that it is likely to impact its manufacturing and sales. These comments by Qualcomm, the world’s biggest supplier of “modem” chips has resulted in the tumbling of chip stocks despite signs that an industry downturn was…

Indian digital payments giant Paytm valued at $16 billion in latest funding round

On Monday, Paytm, an Indian digital payments company stated it has raised fresh funds totaling to $1 billion from a group of investors which includes existing backers such as SoftBank’s Vision Fund and China’s Ant Financial Services. The funding round saw Paytm being valued at $16 billion. A fresh investment in Paytm by Japan’s SoftBank’s…