SenseTime Launches Honk Kong IPO Seeking to Raise $767 Million

Honk Kong based artificial intelligence company SenseTime Group has launched its Hong Kong initial public offering (IPO) in which it seeks to raise $767 million from, according to a term sheet revealed on December 6. Citing the term sheet, the company will be selling 1.5 billion primary shares with each shares going for between HK$3.85 […]

Twitter’s Engineering and Design Chiefs Set to Resign Following Managerial Restructuring

Twitter’s head of engineering, Michael Montano and head of design, Dantley Davis, are expected to resign from their respective positions as part of a wider managerial restructuring by the leading social network work. This announcement was made by the company further adding that the two will be stepping down from their roles at the end […]

Aston Martin CFO to Step Down Citing Personal Reasons

The chief financial officer of manufacturer of luxury sports cars and grand tourers Aston Martin, Kenneth Gregor will be resigning from his position. Gregor who is also an executive director at the company, says that he will be stepping down not later than June 30 2022. The company made this announcement on December 2 citing […]

Blue Prism Agrees to $1.65B Takeover Deal From Fintech Company SS&C

Britain based software company which developing intelligent robotic process automation Blue Prism Group Plc. says that it has agreed to a $1.65 billion takeover deal from United states based financial technology company SS&C Technologies (SSNC). SS&C Technologies is a leading cloud-based provider of financial services technology solutions. By Blue Prism accepting this takeover deal, it […]

Amazon to Launch Abu Dhabi Fulfillment Center by 2024

Leading United Sates based e-commerce company with investments in cloud computing, artificial intelligence and digital streaming Amazon Inc. (AMZN) will be launching a fulfillment center in Abu Dhabi within the next two years. This development was announced by the Abu Dhabi’s government media office which also revealed that the fulfillment center will be will be […]

Xiaomi Set to Open EV Plant With 300,000 Annual Output

China based designer and manufacturer of consumer electronics Xiaomi Corp. (HK: 1810) says that it will be building an electric vehicle plant with annual production capacity of 300,000 electric vehicles. The company made this announcement during the past weekend. According to the announcement, this plant will be constructed in two phases, the company will also […]

China Seeking to Stop Delisting of Chinese Companies From U.S Stock Markets

China’s market regulator, China Securities Regulatory Commission, says that its working hard with United States market regulators with an aim to stop Chinese getting delisted from US stock markets when they fail to meet auditing standards used in the United States. For quite some time now, this has been a major issue as Chinese companies […]

Ant Group Valuation Reduced by 15% to $191 Bilion by Warburg

New York based private equity company majorly focusing on private equity Warburg Pincus LLC has reduced its valuation of Chinese fintech company running China’s largest digital payment platform Ant Group by 15% to $191 billion. This information was leaked by an insider source from Warburg who has direct access to knowledge on the matter. The […]

Apple and Amazon Slapped With $225M Fine For Collusion by Italian Regulator

Giant tech giant Apple Inc. (AAPL) and leading online retailer Amazon Inc. (AMZN) have been slapped with a $225 million (200 million euros) fine by Italy’s antitrust regulator for collusion. The two United States based companies are accused of engaging into anti-competitive alliance in the sale of Apple and Beats products. The antitrust regulator claims […]

Theranos Founder Elizabeth Holmes Defends Herself Against Charges of Defrauding Investors

Elizabeth Holmes, the founder of privately held health technology company Theranos was arraigned last Friday in court to face charges of defrauding investors and patients leveled against her. According to the lawsuit, Holmes is being accused of making false claims about Theranos including that its technology could run a number of diagnostic tests more quickly […]