Finance

Reckitt Posts Mixed Results in the Second Quarter

London based producer of health, hygiene and nutrition products Reckitt Benckiser Group (LON: RKT) has released its results for the second quarter in which it registered declined sales in the quarter further warning of costs will hit margins. For the second quarter ended June 30, sales in the health business of the company which consists […]

China’s Bank Regulator Cautions of Increasing Bad Loans

The regulator of insurance, commercial and investment banks in China, China Banking and Regulatory Commission (CBIRC) has issued a warning suggesting banks in the country are facing an increasing threat of bad loans which are mainly due to uneven methods of recovery used by the financial institutions. The regulator claims that bad loans are at […]

Flipkart to Have a $37.6 Billion Valuation After Upcoming Financing Round

Walmart Inc. (WMT) owned online retailer Flipkart is expecting to sit on a $37.6 billion market valuation after its incoming financing round in which tech investor Soft Bank Group (TKY: 9984) will take part as an investor in the funding round. Soft Bank will be pumping in a $3.6 billion investment in the upcoming financing round. […]

Fintech Startup Clearco Fetches $215 Million in Latest Financing Round

Toronto based fintech startup which provides capital to online companies Clearco announced having raised $215 million from its latest financing round led by high ranking investors including Japanese conglomerate Softbank Group Corp. (TYO: 9984). Clearco was established in 2015 by Canadian investors and entrepreneurs Michele Romanow and Andrew D’Souza. Romanow has her reality TV show […]

Wise Direct Listing to Leave the Company With a $11 Billion Market Valuation

London based financial technology company Wise is set to have an $11 billion (8 billion pounds) market capitalization after its direct listing on the London Stock Exchange. The shares will make their market debut on July 7 in which the company indicated they will open at 800 pence. The auction process has already kicked off […]

General Motors Expands its Design Studio in China

United States auto manufacturer General Motors Co. (GM) says that it has expanded its studio design in China which will only be focusing on developing electric and connected cars. GM says that going forward the Chinese design studio will no longer design petrol vehicles. Not long ago, the GM which is the largest vehicle manufacturer […]

Didi Raises $4.4 Billion From United States IPO

China based ride hailing company operating passenger transportation platform Didi Global Inc. (DIDI) announced having fetched a staggering $4.4 billion from its U.S initial public offering held on June 29. The company sold 317 million American Depositary shares (ADS) with each share going for $14. Earlier on, Didi had said that it would be floating […]

Voyager Innovations Raises $167M in a Financing Round Led by KKR and Tencent

Philippine based digital and financial service company Voyager Innovations announced having raised $167 million from its latest financing round which was led by global investment company KKR & Co. Inc. (KKR), Chinese tech giant Tencent Holding Ltd. (HK: 0700) and Shareholders PLDT Inc. (PS: TEL). The company says it will be using some part of […]

Starlink to Go Public Once Cash Flow is Predictable

Billionaire Elon Musk says the Starlink, which is SpaceX’s space internet venture will go public once its cash flow is more reasonably predictable. Musk made this announcement using Twitter on June 24. “Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference,” tweeted Musk. This tweet […]

Corteva CEO Set to Retire in December

United States based agricultural chemical and seed company Corteva Inc. (CTVA) has announced that its chief executive officer James Collins Jr will be retiring in December. This turn of events comes months after activist investor Starboard Value LP started pushing for his exit. Back in January, Starboard nominated eight directors to the board of Corteva, […]