Dennis Mutua

Deloitte Fined $19.4 Million for Serious and Serial Failure in Autonomy Audit

UK based provider of audit services Deloitte LLP has been fined a whopping 15 million pounds ($19.4 million) by Britain’s accounting regulator for what The Financial Reporting Council (FRC) terms as serious and serial failures committed during the auditing of Autonomy’s financials. Deloitte was mandated with auditing the financial statements of Autonomy for the financial […]

Apple to Launch First Ever Online Store India

IPhone maker Apple Inc. (AAPL) is looking forward to launch its first online store in India on September 23. Apple announced the upcoming event which is just a week away further saying the launch will happen coincidentally with India’s festive season which happens in the same period. Currently Apple sells its products in India through […]

WTO Claims U.S Breached Global Trading Rules by Imposing Tariffs on China

The World Trade Organization (WTO) is accusing the United States of breaking global trading rules by imposing tariffs on China during escalated trade war between the world’s two largest economies. The trade war which continued for an extended period resulted to both sides imposing tariffs on each other. Trump’s administration slapped China with tariffs running […]

Phone Prices of Huawei Increases in China Due to Chip Shortage

The prices of Huawei’s smartphones is set increase after U.S completely cut down the company’s ability to access chips produced in the United States or those produced using technology or software from U.S. Many customers of Huawei Technologies in China are now in haste to buy Huawei’s products fearing the cut of chip supply will […]

H&M Reports Better Than Expected Quarterly Profit

Swedish clothing retailer Hennes & Mauritz AB (STO: HM) popularly referred to as H&M reported its financials for the third quarter ending August 31 in which the company performed fairly better in relation to what analysts had estimated. In the quarter, H&M generated a before tax profit of 2 billion crowns ($229 million), even with […]

Opendoor to Go Public Through Merger With a Blank Check Company

Property tech startup Opendoor Labs Inc. is planning to go public through a merger with a blank check company known as Social Capital Hedosophia Holdings Corp. The IPO will be led by several investors including Chamath Palihapitiya. The IPO will be backed by Japan based conglomerate SoftBank group Corp. (TYO: 9984) and it will leave […]

ByteDance Abandons Sale of TikTok’s U.S Operation Instead It’s Pursuing a Partnership

ByteDance, The parent company of Chinese short video sharing app TikTok has reversed its earlier decision of selling U.S operations of TikTok to an American entity, ByteDance is now engaging in a potential partnership with tech company Oracle Corp (ORCL). U.S President Donald Trump, issued an ultimatum of 45 days last month for the company […]

Steve Cohen Will Be Buying New York Mets Baseball Team

Wealthy hedge fund manager Steve Cohen has penned an agreement with Sterling partners to purchase New York Mets baseball team. This deal was announced in a joint statement by both parties. “I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” said Cohen. The 64 […]

Gilead Almost Closing a Deal Worth Over $20 Billion to Purchase Immunomedics

U.S based bio-pharmaceutical company Gilead Sciences Inc. (GILD) is just a step away from signing a deal to acquire fellow pharmaceutical company Immunomedics Inc. (IMMU) in a deal worth more $20 billion. This development was first reported on Wall Street Journal, according to WSJ Gilead will be using this acquisition to expand its cancer treatment […]

Huawei Set to Introduce Its Smartphone Operating System ‘Harmony OS’

Leading Chinese tech giant Huawei Technologies is looking forward to introduce its own smartphone operating system dubbed ‘Harmony OS’ which will rival dominant Google owned Android operating system. This information was revealed by the company’s head as consumer business Richard Yu, who said the OS will be launched next year. Huawei has already developed a […]