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Court Fines IKEA $1.2 Million for Spying on Employees

World leading designer and seller of ready-to-assemble furniture IKEA AB has been slapped with a fine of $1.21 million (1 million euros) after it was found guilty of spying on its France based employees. The case was being heard on a French court which established that IKEA was guilty of gathering and storing data on […]

Philips Healthcare Recalls Ventilators Due to Health Concerns

Netherlands based producer of healthcare equipment Philips N.V. (AS: PHG) has recalled some ventilators and breathing devices citing a foam part that might degrade and become toxic posing a potential threat of causing cancer. The foam is used to dampen the sound produced by the machines, this foam degrades and it can turn into small, […]

A Seat on a Spaceship Ride With Jeff Bezos Auctions For $28 Million

A seat on a spaceship ride with world’s richest man Jeff Bezos was auctioned for a jaw dropping $28 million during a live auction which took place on June 12 bringing a close to a month long bidding process for the space ride scheduled for next month. Bezos will be making this spaceship ride using […]

Alex and Ani Files for Chapter 11 Bankruptcy Protection

United States based jewelry producer Alex and Ani LLC has filed for chapter 11 bankruptcy protection. According to the court documents, the company made the filing on June 9 in the United States Bankruptcy Court for the District of Delaware. Citing the filing, the company has listed an estimated assets range of $100 million to […]

Nvidia Requests Chinese Regulator to Approve $40 Billion Takeover Deal

Leading designer and manufacturer of graphics processors Nvidia Corporation. (NVDA) has submitted an application to Chinese competition regulators urging them to review a $40 billion takeover deal of UK chip designer Arm. Nvidia made the takeover bid a few weeks ago, Chinese antitrust lawyers said the potential deal is subject to regulatory approval which can […]

Amazon to Employ 3,000 Permanent Workers in Italy in 2021

United States nased giant e-commerce company Amazon Inc. (AMZN) says that it will be creating 3,000 permanent job opportunities in Italy this year. The company says this comes as part of its larger plan of scaling up its investment in the country. This announcement was made by Amazon’s country manager for Italy and Spain Mariangela […]

Volkswagen Chairman to Seek Re-election for the Post

The chairman of German based widely known auto manufacturer Volkswagen Group (ETR: VOWG) Hans Dieter Poetsch, will be seeking another term for the same position. The chairman says he will be unveiling his re-election bid at the up-coming annual general meeting of the company. Aged 70, Poetsch became the company’s chairman in 2015 just several […]

Football Legend Beckham Buys Stake in EV Maker Lunaz

Retired professional soccer player David Beckham has invested in England based manufacturer of classic electric cars Lunaz. This latest investment comes as an addition to the list of investments the former England soccer captain has invested in. Beckham has investments in cannabis companies, e-sports and now it seems automobiles have caught his eye. This investment […]

Zoom Gives Q2 Revenue Estimates Higher Than Wall Street’s Estimate

By now, leader in modern video communication services Zoom Video Communications Inc. (ZM) is a household name across the world due to its massive usage due to its video and audio conferencing services many find convenient. The company has given its estimates for the current second quarter which is on the higher side compared to […]

Digital Insurer Wefox Raises $650M From Latest Financing Round

Digital insurer focusing on personal insurance products Wefox Group announced having fetched $650 million from its recently concluded financing round. The company defines this financing round as a ‘record-breaking round’. Following this funding round, the company now has a market valuation of $3 billion. This means that Wefox’s valuation has increased by three times since […]