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Canada to Introduce Digital Tax for Big Tech Companies

Canada has made public its plans to introduce digital tax on big tech companies starting from 2022. The news was announced by Finance Department of Canada which says it will impose the digital taxes until major economies come up with a coordinated approach on taxation concerning multinational tech giants. This digital tax will come into […]

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 […]

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 […]

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 […]

Moderna COVID-19 Vaccine Will be Going for $25 to $37

COVID-19 vaccine developed by Massachusetts based Biotechnology Company Moderna Inc. (MRNA) will be going for $25 to $37. This was revealed by the company’s Chief Executive Officer Stephane Bancel during an interview with German weekly Welt am Sonntag. Since Moderna announced its 94.5% effective COVID-19 vaccine , the European Commission has been engaging the drug […]

China Gives $2.1 Billion Debt Relief to Developing Countries

China has increased its debt relief to developing to $2.1 billion under the G20 framework making it the largest debt relief by any member state of the group. This information was revealed by China’s Finance Minister Liu Kun. The corona virus pandemic has really injected a lot of damages in developing countries leaving most of […]

Phoenix Approves $12 Billion Development Deal With TSMC

On November 18 City Council of Phoenix, Arizona voted in favor of a $12 Billion development deal with chip manufacturer Taiwan Semiconductor Manufacturing Co (TPE: 2330) in which the company will build a factory in the city. The Council voted 9-0 in favor of the agreement with Taiwan Semiconductor, prior to the voting session mayor […]