Daimler Will be Investing in Farasis Upcoming IPO

The parent company of world leading automaker Mercedes Benz, Daimler AG (DAIG) has made public its plan to invest in upcoming initial public offering of China based electric vehicle battery manufacturer Farasis Energy. The decade old company is looking forward to go public later in the year, from where it expects to fetch 3.4 billion […]

Bolt Receives $109 Million Injection From Naya Capital

Formerly known as Taxify, Europe based ride hailing company Bolt has announced having received a total of 100 million Euros ($109 million) from investment firm Naya Capital Management. Bolt says it will be using the funds to maneuver its way out of the plunge inflicted in it by coronavirus pandemic. Ride hailing business tops among most […]

Senator Warren Will be Hosting a Private Fundraiser for Biden

U.S. Senator from Massachusetts, Elizabeth Warren will be hosting a private fundraising event for Democratic Presidential hopeful and former U.S vice President Joe Biden. New York Times was the first to report this claiming the well decorated consumer lawyer agreed to host the event. Sources linked to the matter who sought anonymity revealed the event will take […]

Lufthansa in Advance Talks Over a 10 Billion Euros State Bailout

German airline Deutsche Lufthansa AG (ETR: LHA) simply known as Lufthansa confirmed being in advanced talks over a 10 billion euros ($9.9 billion) government bailout which will be used to assist the airline overcome the pandemic. In return, German government will get 20% stake in the airline, Lufthansa says the government will also have two […]

Samsung Building its 6th Domestic Chip Factory

Leading South Korea based producer of multiple consumer electronics Samsung Electronics Co. (KRX: 005930) has made public its upcoming project to build a sixth domestic contract chip production line. The new plant will largely specialize in manufacturing logic chips for computers and mobile phones. Samsung says the upcoming project is in line with its plan […]

Alibaba Investing $1 billion in Smart Speakers

Chinese based e-commerce giant Alibaba Group Holding (BABA) announced it will be pumping a $1 billion (10 Billion Yuan) investment into an artificial intelligence (AI) and Internet of Things (IoT) revolving around its Tmall Genie smart speaker. For some time now Alibaba has been giving special attention to new technologies and other business ventures apart […]

Lenovo Soar Above Analysts’ Estimates in Quarter Reports

Hong Kong PC maker Lenovo Group Limited (HKG: 0992) has posted its results for the quarter ending March 31, the company registered declining sales and profits due to the pandemic but it largely performed better than what analysts had estimated. Net profit for the company’s fourth quarter slumped by 64% to $43 million but it […]

Ryanair Trims Passenger Traffic Target For the Year

Dublin based airline Ryanair Holdings Plc. (LON: RYA) announced trimming down its passenger traffic target for the year by an additional 20% citing global traveling volume distortion caused by coronavirus pandemic. Ryanair further said it’s deliberating on pulling out of some airports across Europe as effects of the pandemic are hitting the airline industry hard. […]