Dennis Mutua

China Okays Tesla to Start Selling Shanghai-Manufactured Model Y

Leading electric vehicle manufacturer Tesla Inc. (TSLA) received a go ahead from the government of China to start selling locally made Model Y sport utility vehicle in the country. In the beginning of the month the company submitted its application to start selling Model Y SUV made in its Shanghai gigafactory in China. On Nov […]

Free Users Pushing Down Zoom’s Profit Margins

Communication technology company Zoom Video Communications (ZM) has expressed its concerns that increasing number of free users of its services is curtailing the company’s profit margins. The company is afraid going into next year its profit margin will continue being curtailed by the astronomical growth in number of free users courtesy of the pandemic which […]

Biogen to Invest $1.5 Billion in Sage Therapeutics

Massachusetts based Biotechnology Company Biogen Inc. (BIIB) said it will be pumping in a $1.5 billion investment in fellow biotechnology company Sage Therapeutics Inc. (SAGE). This investment is set to help the two companies jointly develop treatments for depression and other neurological disorders. Biogen will be making an upfront payment of$875 million for the investment. […]

Salesforce Holding Talks in Regard to Acquiring Slack

San Francisco based Software Company Salesforce.com Inc. (CRM) is currently engaging fellow software company Slack Technologies Inc. (WORK) in regards to acquiring the workplace messaging app. Since coronavirus pandemic set foot many employees have been forced to work from home to minimize exposure to the deadly virus. This development hasn’t worked well for Slack because […]

Amazon to Reward U.S Front Line Workers With $500 Million Holiday Bonuses

World’s largest e-commerce company Amazon Inc. (AMZN) will be rewarding its United States based front line workers working during the holiday season during the pandemic with one time holiday bonuses totaling up to $500 million. Citing a blog post from the company’s website, full time employees of the company working in the United States From […]

TikTok Granted 7 Day Extension Period to Sell its U.S Operations

The administration of outgoing U.S President Donald Trump granted ByteDance a seven day extension period to for the company to sell U.S operation of its short video sharing app TikTok to an American entity. The sale order was issued by a U.S court in August directing ByteDance to surrender TikTok’s U.S operations to an American […]

FCC Maintains ZTE Still Poses a National Threat to the Security of United States

The Federal Communication Commission (FCC) still believes that Chinese telecommunication company ZTE Corp. (SHE: 000063) poses a national threat to the security of United States, the agency made the sentiments after turning down a request by ZTE to reconsider its decision upon the company. Mid last year FCC barred two Chinese tech giants Huawei Technologies […]

BlackRock to Purchase Aperio in a Deal Worth $1.5 Billion

World’s largest asset manager BlackRock Inc. (BLK) announced that it will be acquiring investment manager service provider Aperio Group LLC for $1.5 billion. BlackRock will be purchasing Aperio from its current owner Golden Gate Capital, a private equity firm. Some employees of Aperio also own notable stake in the company the purchase transaction will be […]

China Construction Bank Drops a $3 Billion Blockchain Tech Bond

The China Construction Bank Corp. (CCB) has withdrawn from its plan of issuing a $3 billion blockchain technology bond. The bond was to be listed on Malaysian cryptocurrency-focused exchange. Malaysian exchanged announced the withdrawal saying they undertook the measure after receiving a withdrawal request from China Construction Bank. According to earlier plans the bond was […]

German Luxury e-Commerce Mytheresa Files for U.S IPO

German based luxury e-commerce Company Mytheresa Group announced having filed for an initial public offering in the United States stock exchange markets. The news was announced by its parent company MYT Netherlands Parent B.V which said the number of American depositary shares to be offered in the IPO is yet to be established. This move […]