Finance

Autonomous Driving Startup WeRide Hits a Market Valuation of $3.3 Billion

Self-driving startup WeRide is now having a market valuation of $3.3 billion following its latest financing round which happened back in January. The company said it fetched $310 million from the financing round. The latest financing round was led by Homeric Capital and IDG Capital. Technology companies and vehicle manufactures have been investing heavily in […]

JPMorgan Bringing Back Employees to Work From Office

Financial service holding company and investment bank JPMorgan Chase & Co. (JPM) announced that it will be bringing back its England based staff to resume working from the bank’s offices starting from June 21. According to the memo disbursed by the bank, staff in England offices will be working partly remotely and partly from the […]

Aston Martin Posts First Quarter Loss of $59 Million

Manufacturer of luxury cars and grand tourers Aston Martin Global Langonda Holdings Plc. (LON: AML) posted its results for the first quarter of the year in which it recorded a loss of $59 million (42.2 million pounds). This loss is however lower than the loss of 110 million pounds the British automaker posted on a […]

Intel Won’t be Focusing on Share Buybacks Anymore

World leading chip manufacturer Intel Corp. (INTC) says going forward it won’t be focusing of executing share buyback programs. Normally companies engage in buying back their stock when they want to push its price up. This was announced by the company’s chief executive officer Pat Gelsinger during a 60 minute interview the CBS news magazine. […]

Siemens Healthineers Increases Full Year Financial Guidance

Undoubtedly the pandemic has been overwhelming healthcare facilities across the world. Demand for healthcare equipment has been on the rise since the pandemic began. German based healthcare technology company Siemens Healthineers AG (ETR: SHL) has increased its financial guidance for the year following the increased demand for medical equipment courtesy of COVID-19. The company says […]

Grab Seeking to Raise $4 Billion From U.S Listing

Singapore leading ride hailing, digital payment and food delivering company Grab Holding Inc is aiming to raise $4 billion from its NASDAQ listing after merging with a special purpose acquisition company (SPAC). Grab will be merging with a SPAC backed by Altimeter Capital Management, a Silicon Valley investor and this could go down as the […]

Philips Increases 2021 Financial Guidance Estimates as Sales Keeps Going Up

Dutch based health technology company Philips NV (AMS: PHIA) has revised its 2021 estimates upwards following increasing number of sales courtesy of the pandemic. Due to the pandemic, healthcare facilities across the world have been overwhelmed due to high numbers of COVID-19 patients. It is this experience which led to a rise in demand of […]

Meituan Raises $10 Billion in a Stock and Convertible Bonds Sale

Beijing based online local service platform Meituan (HKG: 3690) raised a total of $10 billion in a stock and convertible bonds sale. This financing initiative sends a strong message that investors indeed have strong faith in the growth rate of the company. Following this financing, Meituan now has a market valuation of $220 billion. The […]

Microsoft Spending $1 Billion to Build Data Centers in Malaysia

The Prime Minister of Malaysia Muhyiddin Yassin revealed that U.S tech giant Microsoft Corp. (MSFT) will be investing $1 billion to set up data centers across Malaysia in the next five years. Prime Minister Yassing says the project will be as a new partnership between government entities and the private sector. “As part of the […]