Leading electric vehicle manufacturer Tesla Inc. (TSLA) sold a total of 44,264 China made vehicles in the just concluded month of March of August. Tis information was revealed by the China Passenger Car Association (CPCA). According to the data from CPCA, 31,379 of the vehicles were exported while the rest were sold locally. These sales […]
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German Regulators Initiate Probe Into Allianz After Disappearance of U.S Investment Funds
German financial regulators have initiated a probe into the country’s leading financial service provider Allianz SE (ETR: ALV) following the disappearance of United States investments funds from the company, this unfortunate incidence is said to have taken place during last year. In recent times, Allianz has been slapped with various lawsuits related to its structured […]
Texas City Offering Samsung Extensive Property Tax Breaks to Build $17 Billion Chip Facility
Texas City is considering to offer South Korea based consumer electronics manufacturer Samsung Electronics Co Ltd. (KRX: 005930) large property tax breaks if the tech giant chooses a location in the state to set up a $17 billion chip plant. Samsung is considering one of the two locations in Texas to build the plant, Austin, […]
French Billionaire Bernard Arnault Sells His Stake in Supermarket Group Carrefour
French billionaire Bernard Arnault has sold his entire stake in France based retail distribution and supermarket group Carrefour SA (PA: CARR). Arnault pumped in his first investment in the retailer 14 years ago. Through his investment vehicle, Financiere Agache Holding, Arnault held 5.7% stake in Carrefour. Sale of the entire stake in an accelerated book […]
China Shuts Down American Chamber of Commerce in Chengdu
Chinese administration has issued a directive ordering an American Chamber of Commerce located in the southwest city of Chengdu to cease operations with immediate effect. This was announced by the American chamber of commerce. The chambers send a notification to its members that in accordance with Chinese laws and regulations it had to stop operations […]
Pershing Square to Increase its Stake in Vivendi by 2.9%
United States hedge fund management company Pershing Square Holdings Ltd (AMS: PSH) announced that it will be increasing its stake in Vivendi SE (EPA: VIV) which owns Universal Music Group (UMG) by 2.9% for $1.49 billion. Vivendi claims that this transaction is based on an enterprise value of $41.40 billion for 100% share capital of […]
10 Alibaba Employees Fired for Leaking Sexual Assault Accusations
Chinese giant company specializing on e-commerce, internet, technology and retail Alibaba Group Holding Ltd. (BABA) has sacked 10 of its employees who leaked sexual assault accusations. The employees shared screenshots of the account of a female colleague who got sexually assaulted by a former boss. The employees were sharing screenshots of posts made by the […]
Freshworks Inc. Files for U.S Initial Public Offering
Provider of software as a service platform enabling small and medium-sized businesses to support customers via email, phone and websites Freshworks Inc. has filed for its United States initial public offering. According to the regulatory filing, the company recorded almost 53% increase in revenue as the number of new customers signing up for its services […]
Facebook Contemplating Forming an Election Commission
Leading social network company Facebook Inc. (FB) is considering establishing an election commission to advice the company on matters related to global elections. Sources directly linked to the matter disclosed that the company has already reached out to policy and academics experts on the matter. The proposed commission will be mandated with deciding on matters […]
Twilight Film Investor Sentenced to Five Years in Prison
Omar Amanat, a tech entrepreneur who invested in the studio involved with ‘Twilight Films’ has been slapped with a five year prison sentence after he was found guilty of fraud charges linked to video technology company Kit Digital Inc. Last week, U.S. District Judge Paul Gardephe in Manhattan ruled that Amanat expressed incredulity that a […]