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Sinclair to Pay $48 Million for Abandoning Acquisition Deal

U.S based Telecommunication and Media Company Sinclair Broadcast Group Inc. (SBGI) has been directed by the Federal Communications Commission (FCC) to pay $48 million as a civil penalty for abandoning an acquisition deal in which it was to purchase Tribune Media. This is the largest ever civil penalty imposed by the agency, the penalty is […]

Apple Taps Into Federal Reserve’s Cheap Debt

IPhone manufacturer Apple Inc. (AAPL) has decided to tap into emergency measures provided by the Federal Reserve to cushion the United States economy against plunge inflicted by breakout of coronavirus pandemic. Under the measures, Apple tapped into these cheap debt measures by issuing cheaper bonds in the markets with an aim of using the cash […]

Norwegian Air to Convert Debts into Equity to Help Airline Survive Pandemic

Undoubtedly the airline industry around the globe is among the worst hit by coronavirus pandemic. The pandemic has seen reduced air traffic hence all airlines have most of their aircrafts grounded. Norway’s national carrier, Norwegian Air (NWC) will be converting its debts to equity as a measure to help the airline survive plunge caused by […]

Silver Lake to Acquire Stake Worth $750 Million in Reliance

American private equity company Silver Lake has announced that it will be purchasing stake worth $750 million in the digital unit of India based Reliance Industries Ltd (RELI). This announcement comes barely two weeks after tech company Facebook Inc. (FB) invested $5.7 billion in the same business. The digital unit of Reliance Industries is known […]

Mirae Asset Sued for Missing Deadline to Buy U.S Hotels from Chinese Insurance

South Korea based asset management firm Mirae Asset Global Investment has been sued for failing to purchase 15 U.S. hotels from China’s Anbang Insurance Group under the stipulated time frame in the deal. This was announced by Mirae’s spokesperson after time elapsed for the purchase, Mirae was set to acquire these hotels at a cost of […]

LG Reports Losses in Fifth Consecutive Quarterly Reports

Undoubtedly, business hasn’t been as usual for worldwide known South Korean tech company LG Display Co Ltd (KRX: 034220) the firm posted net losses in the first quarter of the year bringing its quarterly results to five consecutive quarterly net losses. In the first quarter ended March 31, LG reported net operating losses of 362 […]

Facebook Investing $5.7 Billion in Reliance Industries

Tech giant Facebook Inc. (FB) has announced it will be pumping in investment worth $5.7 billion in the digital unit- Jio Infocomm of Reliance Industries (RELI) in return Facebook will be getting 9.99% stake in the company. Following closure of the deal, it will be the second largest investment ever done by Facebook the first […]

Neiman Marcus Set to File for Bankruptcy

U.S based chain of luxury department stores Neiman Marcus Group Inc. (NMG) is looking forward to file for bankruptcy this week according to sources with direct information of the matter. When this happens, Neiman Marcus will become the first American department store operator to go down during this tough economic times brought about by the global […]

Alibaba Investing Extra $28 Billion in Cloud Computing

Chinese leading e-commerce giant Alibaba Holding Ltd (BABA) will be pumping in extra 200 billion yuan ($28 billion) in its cloud computing services Alibaba Cloud in the next three years. Alibaba says following outbreak of deadly coronavirus, there has been an increasing demand in for business software. The company says the funds will be largely […]

Verizon Set to Purchase Bluejeans in a Deal Worth $500 Million

U.S based telecommunication company Verizon Communications Inc. (VZ) announced reaching a consensus with BlueJeans Network Inc. to buy the video conferencing company in a deal worth $500 million. In recent times, there has been an increasing demand in video conferencing services, with the coronavirus pandemic situation escalating the demand even further since a lot of […]