Dennis Mutua

Zegna to Get Listed in the U.S Through a $3.2 Billion SPAC Merger Deal

Italy based luxury fashion house group Ermenegildo Zegna is looking forward to get listed on the New York Stock Exchange through a $3.3 billion merger deal with a Special Purpose Acquisition Company (SPAC). This deal will help the company expand its operations in the United States and Asia. The company’s chief executive officer, Gildo Zegna, […]

Tesla Launches Subscription Services For its Driver Assistance Software

Leading electric-vehicle manufacturer Tesla Inc. (TSLA) has launched subscription services option for its advanced driver assistance software which will be going for a monthly payment of $199 rather than paying a $10,000 upfront. This subscription service is dubbed “Full Self-Driving capability” and will be available for some Tesla customers. The company is expecting this subscription […]

Facebook Distances Itself From U.S Failing to Meet Vaccination Target

Leading social media company Facebook Inc. (FB) says it should not be blamed for the United States failing to meet its COVID-19 vaccination target. Facebook made this statement as a retaliation to President’s Biden sentiments in which he said that social media companies are killing people by allowing misinformation about the pandemic spread across their […]

Netflix Hires Former Facebook Executive to Head its Video Games Unit

Production company and streaming service provider Netflix Inc. (NFLX) has hired a former executive of social network company Facebook Inc. (FB) to head its video game unit as the company is looking into ways of diversifying its services away from streaming and production. Netflix announced having hired Mike Verdu who most recently was serving as […]

U.S Senate Passes Bill to Ban All Imports Coming From Xinjiang China

The United States Senate has passed a bill which bans all imports from China’s Xinjiang region as a move to stand against the genocide against Uyghurs and other Muslim groups which has been happening in the region for quite some time now. According to the Uyghur Forced Labor Prevention Act, it creates a rebuttable assumption […]

AstraZeneca-Alexion Merger Deal Given a Green Light by UK’s Regulator

The merger deal between British-Swedish pharmaceutical company AstraZeneca Plc. (LON: AZN) and United States based pharmaceutical company Alexion Pharmaceuticals Inc. (ALXN) has been given a green light to go ahead by UK’s competition watchdog. The Competition and Markets Authority says that this merger deal will reinforce AstarZeneca’s line of cancer medicines leaving the merged company […]

China’s Bank Regulator Cautions of Increasing Bad Loans

The regulator of insurance, commercial and investment banks in China, China Banking and Regulatory Commission (CBIRC) has issued a warning suggesting banks in the country are facing an increasing threat of bad loans which are mainly due to uneven methods of recovery used by the financial institutions. The regulator claims that bad loans are at […]

Google Slapped With a 500M Euros by France Over Copyright Row

Google’s Alphabet Inc. (GOOGL) has been slapped with a whopping 500 million euros fine by France’s antitrust regulator for failing to fully abide by temporary orders issued by the regulator in accordance with the country’s publishers. According to a press release by the regulator, within the next 60 days, Google must come up with proposals […]

Global Financial Regulator Says Working From Home is Promoting Cyber Attacks

The Financial Stability Board (FSB) claims that the sudden shift to working from home courtesy of the pandemic is a reason for increased cyber-attacks which have increased tremendously in recent times. The FSB which is responsible for coordinating financial rules for is advising that financial companies may need to reinforce their defenses in the wake […]

Flipkart to Have a $37.6 Billion Valuation After Upcoming Financing Round

Walmart Inc. (WMT) owned online retailer Flipkart is expecting to sit on a $37.6 billion market valuation after its incoming financing round in which tech investor Soft Bank Group (TKY: 9984) will take part as an investor in the funding round. Soft Bank will be pumping in a $3.6 billion investment in the upcoming financing round. […]