Dennis Mutua

Exxon to Cut Labor Force by 7% in Singapore

Oil and gas company Exxon Mobil Corp. (XOM) will be laying off 7% of its labor force in Singapore which houses its largest oil refining and petrochemical complex. Exxon made the announcement on March 3 clarifying that unprecedented market conditions courtesy of the pandemic fueled the decision. This job cut will be carried out periodically […]

Volvo to go All Electric by 2030

Swedish multinational vehicle manufacturer Volvo (STO: VOLV) will be producing electrical vehicles only by the year 2030. The company made this announcement on March 2 as it unveiled its car-line up. Notable automakers have been making a partial shift towards production of electric vehicles as they try to phase out fossil-fuel engines out of the […]

China Developing Tech to Deal With Misbehaving Apps and Data Leaks

China is in the process of developing a new technology to help in dealing with misbehaving applications in the wide mobile app market. This technology will also be used to personal data leakage loopholes. This announcement was made on March 1 by China’s minister of industry and information technology Xiao Yaqing. “Those apps that refuse […]

Robinhood Trader Planning to File for a Confidential IPO

Financial service and online brokerage company Robinhood is planning to file for an initial public offering confidentially in the month of March. This report was first posted on Bloomberg business news. Citing Bloomberg’s post in the last few weeks the company has been holding talks with several investment banks to act as its underwriter in […]

ByteDance Appoints its Head of News in China to Head Tiktok’s Research and Development

The parent company of short video sharing app TikTok ByteDance has resolved to move its chief news aggregator in China Jinri Toutiao, Zhu Wenjia to Singapore where he will be in charge of global research and development for TikTok. This latest development was revealed by sources involved in the matter who further said the newly […]

AT&T Selling 30% of its Stake in DirecTV

U.S based telecommunication company AT&T Inc. (T) will be selling around 30% of the stake it holds in its subsidiary DirecTV. The wireless carrier will be selling the stake to buyout firm TPG Capital. This deal gives DirecTV’s business a market value of $16.25 billion. AT&T purchased the stake in DirecTV six years ago for […]

Boyu Capital Targets $6 Billion in New Private Equity Fund

China based private equity firm Boyu Capital is consolidating a new China focused fund aiming to raise as much as $6 billion. This was revealed by sources involved with the matter but sought anonymity since the company is yet to let out this information to the general public. Boyu Capital has invested in several notable […]

Berkshire Grey to go Public via Merger Deal With SPAC

Artificial intelligence robotics company Berkshire Grey announced that it had reached an agreement to go public through a merger deal with a Special Purpose Acquisition Company Revolution Acceleration Acquisition Corp (RAAC). In the deal the blank check company will provide Berkshire Grey with a cash amount of $413 million. After the deal has been closed, […]

GameStop’s CFO to Step Down Following Controversial Wild Stock Rally

The Chief Financial Officer of GameStop Corp. (GME) Jim Bell will be stepping down from the position following the controversial astronomical rally of the company’s stock which happened recently. The company made this announcement adding that the CFO will be stepping down next month. GameStop says the resignation of Bell isn’t linked to any disagreement […]

KKR to Purchase Telefonica Fiber Optic in a $1 Billion Deal

United States based Investment Company KKR & Co Inc. (KKR) will be purchasing Chile based telecoms operator Telefonica Fiber Optic Network for $1 billion. This deal will leave KKR as the majority shareholder in the fiber optic network company. After the deal is closed, it will go down as Chile’s first created open access wholesale […]