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Softbank Selling 45 Million Uber Shares

Japanese multinational company investing in technology, financial and energy sector Softbank Group Corp. (TYO: 9984) is looking forward to sell 45 million of its shares in Uber Technologies Inc. (UBER). This information was revealed by an insider source. The insider source who sought anonymity, says any buyer interested in these shares will have a 30-day […]

Reckitt Posts Mixed Results in the Second Quarter

London based producer of health, hygiene and nutrition products Reckitt Benckiser Group (LON: RKT) has released its results for the second quarter in which it registered declined sales in the quarter further warning of costs will hit margins. For the second quarter ended June 30, sales in the health business of the company which consists […]

Tencent Denied Exclusive Rights in Online Music by Chinese Regulator

Chinese multinational technology company Tencent Holding Ltd. (HKG: 0700) will be denied online music rights by China’s market regulator regulator, The State Administration of Market Regulation (SAMR). The regulator says it will ban Tencent from exclusive copyright agreement and slap the company with fines for unfair market practices in the online music market. Among the […]

Suzuki and Daihatsu Joins Toyota’s Electric Vehicle Venture

Auto manufactures Suzuki Motor Corp. (TYO: 7269) and Daihatsu has officially joined the band wagon with fellow car manufacturer Toyota Motor Corp. (TYO: 7205) to jointly take part in a commercial electric vehicle production. This brings the numbers of automakers under this umbrella to five, the other two include Isuzu Motors Ltd. (TYO: 7202) and […]

China Unveils Maglev Train With a Top Speed of 600 kph

On July 20, China unveiled a maglev train which has a top speed of 600 kilometers per hour. This announcement was made by China’s state owned media. The train has been self-developed by China and manufactured in the coastal city of Qingdao This launch means that this train is officially the fastest ground vehicle across […]

Netflix Hires Former Facebook Executive to Head its Video Games Unit

Production company and streaming service provider Netflix Inc. (NFLX) has hired a former executive of social network company Facebook Inc. (FB) to head its video game unit as the company is looking into ways of diversifying its services away from streaming and production. Netflix announced having hired Mike Verdu who most recently was serving as […]

China’s Bank Regulator Cautions of Increasing Bad Loans

The regulator of insurance, commercial and investment banks in China, China Banking and Regulatory Commission (CBIRC) has issued a warning suggesting banks in the country are facing an increasing threat of bad loans which are mainly due to uneven methods of recovery used by the financial institutions. The regulator claims that bad loans are at […]

China to Order Tencent to Surrender Music Label Exclusivity

Chinese antitrust regulator the State Administration of Market Regulation (SAMR) will be ordering multinational technology company Tencent Holdings Ltd. (HK: 0700) to surrender the rights of music labels which it has been using to compete with its smaller rivals in the industry. The regulator will also be fining the company $77,150 (500,000 yuan) for lapses […]

Fintech Startup Clearco Fetches $215 Million in Latest Financing Round

Toronto based fintech startup which provides capital to online companies Clearco announced having raised $215 million from its latest financing round led by high ranking investors including Japanese conglomerate Softbank Group Corp. (TYO: 9984). Clearco was established in 2015 by Canadian investors and entrepreneurs Michele Romanow and Andrew D’Souza. Romanow has her reality TV show […]

Wise Direct Listing to Leave the Company With a $11 Billion Market Valuation

London based financial technology company Wise is set to have an $11 billion (8 billion pounds) market capitalization after its direct listing on the London Stock Exchange. The shares will make their market debut on July 7 in which the company indicated they will open at 800 pence. The auction process has already kicked off […]