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Adidas Considering Selling Struggling Reebok Brand

German based shoes and clothing designer and manufacturer Adidas AG (ETR: ADS) is considering selling its Rebook brand citing that the brand it acquired in 2006 for $3.8 billion has been struggling business wise. The company held a meeting in which it tabled various strategic options including a possible sale of Reebok brand. Adidas final […]

Uber Fined by California for Failing to Collaborate in a Sexual Assault Probe

California fined ride hailing company Uber Technologies Inc. (UBER) a whopping $59 million for failing to give the California Public Utilities Commission (CPUC) crucial information needed in ongoing sexual assault and harassment cases. According to the ruling made on 14 December Uber’s permit could be suspended if the company fails to pay the fine within […]

AstraZeneca to Acquire Alexion Pharmaceutical in a $39 Billion Deal

Europe based leading pharmaceutical company AstraZeneca Plc. (LON: AZN) will be purchasing fellow U.S based pharmaceutical company Alexion Pharmaceuticals Inc. (ALXN) in a deal worth $39 Billion, this will be the largest deal ever inked by AstraZeneca. This acquisition will help AstraZeneca to expand both its immunology and oncology businesses as well as expand its […]

Weedmaps at the Edge of Going Public in a $1.5 Billion Deal

U.S based cannabis review website Weedmaps is on the verge of inking a $1.5 billion deal to go public through a merger with a blank-check acquisition company with Silver Spike Acquisition Corp. (SSPK). Weedmaps is owned by WM Holding Co and the site gives a platform for consumers to rate cannabis sellers. The company was […]

Airbnb Goes Public Raising around $3.5 Billion in the IPO

Finally much anticipated initial public offering of vacation rental online market place Airbnb happened on December 9 with the company pricing its share at a higher price than earlier issued price range. In the IPO Airbnb sold its shares at $68 per share, the company had earlier issued a price range of $44 to $50 […]

Northrop Selling its Federal IT and Mission Support Business for $3.4 Billion

United States based aerospace and defense company Northrop Grumman Corp. (NOC) will be selling its federal IT and mission support services business to private equity firm Veritas Capital in a deal worth $3.4 billion. Northrop which is among world’s largest producers of weapons and provider of military technology said the deal will be an all […]

Uber Selling its Autonomous Driving Unit for $4 Billion

Ride hailing company Uber Technologies Inc. (UBER) will be selling its self-driving unit Uber Advanced Technologies Group (ATG) to autonomous driving startup company Aurora for $4 billion. Uber believes this deal is good for the company since it will help it achieve its profitability goals. The company’s CEO Dara Khosrowshahi says this move will propel […]

JD.com Makes History as the First Online Platform to Accept China’s Digital Currency

Chinese e-commerce company Jingdong commonly known as JD.com has made history becoming the first online platform to accept China’s digital currency. The company said it’s very much proud of becoming first Chinese virtue platform to accept China’s homegrown digital currency. Going forward, the company’s fintech unit JD Digits will be accepting digital yuan as a […]

XPO Logistics Will be Splitting its Warehousing and Logistics Business

Transportation and contract logistics company XPO Logistics Inc. (XPO) will be splitting its warehousing and Logistics business to two different business entities further they will exist as two different public companies. The company broke the news further adding freight transportation and truck brokerage businesses will stick with XPO whereas the new entity will focus on […]

Snowflake Losses Widens in Third Quarter Results

Cloud-based data-warehousing company Snowflake Inc. (SNOW) reported its third quarter results further generating a bigger loss compared to the previous quarter. For the third quarter ending October 31, the company reported a net loss of $168.9 million. This loss is far much wider compared to the $88.1 million net loss the company reported at a […]