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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 […]

Apple Exported 2.5 Million IPhones in China in March

The Chinese government has released data indicating that IPhone maker Apple Inc. (AAPL) shipped in 2.5 million IPhones in China during the just ended month of March. China still remains the World’s second largest economy and the World’s largest market for Smartphones and several consumer electronics. However, demand for smartphones has been on a declining […]

Vietnamese Samsung Workers Quarantined Following a Coronavirus Positive Case

Workers at a production plant for leading consumer electronics producer Samsung Electronics Co. (KRX: 005930) in Vietnam have been quarantined after one of them tested positive for deadly coronavirus. One employee, aged 25 working at the EQC-SI unit of the Samsung Display plant in Bac Ninh, tested positive following a coronavirus test conducted by the […]

Sony Pumps in a $400 Million Investment in Chinese Video Website Bilibili

American subsidiary of Sony Corp (TYO: 6758), Sony Corp America is set to pump in investment worth $400 million in Chinese video sharing website Bilibili (NASDAQ: BILI). The two parties made the announced during a joint press statement further adding the partnership is targeting the millennials and generation alpha as its customers. Bilibili is commonly […]

Jack Dorsey Pledges Stake Worth $1 Billion to Combat Coronavirus

Chief Executive Officer of Social Media network Twitter Inc. (TWTR) Jack Dorsey has pledged a total of stake worth $1 billion to assist in the fight against coronavirus pandemic. Dorsey also adds up as the founder and CEO of mobile payment and fintech company Square Inc. (SQ) so he directed that this money will be […]

Samsung Set to Post Quarterly Results How Will They be Affected by the Pandemic

Global tech giant for consumer electronics Samsung Electronics Co. (005930) is set to announce its quarterly results for the period ended March 31 however it’s unclear whether the breakout of deadly coronavirus around the World will have impact on this upcoming quarterly reports and if yes by how much. Samsung is the largest memory chipmaker […]