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Reddit to Purchase TikTok’s Competitor Dubsmash

Dubsmash, a short video sharing app which offers services similar to what TikTok offers is set to be acquired by divergent social network company Reddit. Reddit announced the upcoming acquisition however it failed reveal any financial terms of the deal. Nonetheless, Reddit’s spokeswoman said payment of the deal will be a blend of cash and […]

Biosimulation Company Certara Raises $630 Million in its IPO

U.S based biosimulation company Certara Inc. held its initial public offering on December 12 raising around $630 million from the offering. The drug development consultancy company priced its shares at $23 per share in the IPO. Both the IPO price and size was greater than what the company had announced, earlier the company had issued […]

Whitecap Resources to Acquire TORC Oil in a $430.83 Million Deal

Canada based crude petroleum and natural gas extractor Whitecap Resource Inc. (TSE: WCP) announced having agreed to purchase competitor TORC Oil & Gas Ltd (TSE: TOG) n a deal worth C$552 million ($430.81 million). Whitecap said the deal will be an all-stock one. Canada has the third largest oil reserves and it’s fourth largest oil […]

Blue Moon Raises $1.27 Billion From Hong Kong IPO

China based detergent manufacturer Blue Moon Group Holdings went public on the Hong Kong Stock Exchange market after pricing its shares at HK$13.16. This piece was at the top range of HK$10.20 to HK$13.16 issued by the company last week for the initial public offering. In the IPO the company sold 747.1 million shares giving […]

China Okays Tesla to Start Selling Shanghai-Manufactured Model Y

Leading electric vehicle manufacturer Tesla Inc. (TSLA) received a go ahead from the government of China to start selling locally made Model Y sport utility vehicle in the country. In the beginning of the month the company submitted its application to start selling Model Y SUV made in its Shanghai gigafactory in China. On Nov […]

BlackRock to Purchase Aperio in a Deal Worth $1.5 Billion

World’s largest asset manager BlackRock Inc. (BLK) announced that it will be acquiring investment manager service provider Aperio Group LLC for $1.5 billion. BlackRock will be purchasing Aperio from its current owner Golden Gate Capital, a private equity firm. Some employees of Aperio also own notable stake in the company the purchase transaction will be […]

China Construction Bank Drops a $3 Billion Blockchain Tech Bond

The China Construction Bank Corp. (CCB) has withdrawn from its plan of issuing a $3 billion blockchain technology bond. The bond was to be listed on Malaysian cryptocurrency-focused exchange. Malaysian exchanged announced the withdrawal saying they undertook the measure after receiving a withdrawal request from China Construction Bank. According to earlier plans the bond was […]

Thyssenkrupp to Lay Off 5,000 Employees due to Disruptions Caused by the Pandemic

German based industrial engineering and steel manufacturing company ThyssenKrupp AG (ETR: TKA) has announced that it will be laying an additional 5,000 employees as the pandemic has caused major distortion in operations of the company. This latest lay off will bring the number of employees laid off by the company courtesy of the pandemic to […]

Nexi Seeking to Merge With Nets in an $8 Billion Deal

Italian based bank which specializes on payment systems Nexi SpA (BIT: NEXI) has prolonged its exclusive merger talks with Nets up to November 16. The company made the announcement when it was reporting its third quarter results. In the beginning of the month, Nexi opened discussions over a potential $8 billion merger deal. The company […]

Apple Puts Its Supplier Pegatron on Probation Following Policy Violation

IPhone manufacture Apple Inc. (AAPL) has placed its Taiwan based supplier Pegatron Corp. (4938) on probation after discovering the company violated its supplier’s code of conduct. The violation in question is related to a student worker program said the tech giant. “Several weeks ago, we discovered Pegatron – one of Apple’s suppliers in China – […]