Finance

Amazon to Acquire Self Driving Car Startup Zoox

Online retailer Amazon Inc. (AMZN) will officially acquire self-driving car startup Zoox Inc. Internal sources revealed the e-commerce giant had reached an agreement to purchase the Foster City based self-driving company for over $1 billion. The Information was the first to publish the revelation, citing no specific amount for the deal but it is expected […]

Amazon Expanding Operations in Australia

Leading online retailer Amazon Inc. (AMZN) has announced its upcoming plans of expanding its operational activities in Australia. The company will be building a warehouse in Sydney, additionally it will be looking for a strategic location around Melbourne suitable for establishing a giant facility. In a different stock exchange filing, Australia based Brickworks Ltd (BKW) […]

Former Jaguar Land Rover CFO Named New Aston Martin CFO

Former Chief Financial Officer at Jaguar Land Rover Kenneth Gregor, has been named new Chief Financial officer by British Sports Luxury car manufacturer Aston Martin Holding Plc. (LON: AMN). This appointment comes as a critical one as the company’s management is looking to revive the over a century old car maker. His appointment comes barely […]

Skillsoft Becomes the latest Company to File for Bankruptcy

U.S based educational technology company Skillsoft Corp. (SKIL) becomes the latest entry in the list of company which have filed for bankruptcy during this time of coronavirus pandemic. On June 15, the learning management software and content producer announced having filed for chapter 11 bankruptcy. The e-learning company says the main reason behind bankruptcy filing […]

PayPal and WhatsApp Investing in Indonesia Based Gojek App

Online payment system PayPal Inc. (PYPL) and Facebook Inc. (FB) owned online messaging platform WhatsApp announced they will be investing in Gojek app which is a ride hailing, food and payment app based in Indonesia. Gojek is currently running financing rounds, the two companies did not disclose the size amount of their investment or stakes […]

Netease Targeting to Raise $2 to $3 Billion in Upcoming Hong Kong IPO

China based online gaming Company Netease Inc. is looking forward to raise anything between $2 and $3 billion in its Hong Kong secondary initial public offering slated for later in the year. This was revealed by sources involved with the matter. The company says its anticipating being on several secondary listings as the year progresses, […]

Tencent Raises $6 Billion in a USD Bond Sale

Chinese leading gaming and social media Tencent Holdings Ltd (HKG: 0700) announced having raised $6 billion from a U.S dollar corporate bond sale making it the largest debt deal by an Asian company in 2020. According to the provided term sheet, the deal was finalized on May 27 and the company raised $1 billion in five-year […]

American Airlines Will Cut Down Labor Force by 30%

American Airlines Group Inc. (AAL) issued a letter to its workers indicating that it must trim down its management and support employees by at least 30% for the company to come out of the plunge it has been left into by coronavirus pandemic which has significantly affected the aviation sector globally. By now all major […]

Volkswagen Finalizing Deals With Two Chinese EV Companies

German based and world leading automaker Volkswagen AG (VOWG) is in the brink of sealing deals with two Chinese electric vehicle companies namely Anhui Jianghuai Automobile Group Holding and an EV battery manufacturer Guoxuan High-tech Co Ltd (002074). Sources have revealed that Volkswagen is set to part with 3.5 billion yuan ($491 million) to acquire […]

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 […]