French Billionaire Bernard Arnault Sells His Stake in Supermarket Group Carrefour

French billionaire Bernard Arnault has sold his entire stake in France based retail distribution and supermarket group Carrefour SA (PA: CARR). Arnault pumped in his first investment in the retailer 14 years ago. Through his investment vehicle, Financiere Agache Holding, Arnault held 5.7% stake in Carrefour. Sale of the entire stake in an accelerated book […]

China Shuts Down American Chamber of Commerce in Chengdu

Chinese administration has issued a directive ordering an American Chamber of Commerce located in the southwest city of Chengdu to cease operations with immediate effect. This was announced by the American chamber of commerce. The chambers send a notification to its members that in accordance with Chinese laws and regulations it had to stop operations […]

Nubank Planning a United States Initial Public Offering

Brazil based financial technology bank Nubank is eyeing a United States initial public offering which will leave the largest bank in Latin America with a market valuation of $55.4 billion making it the biggest traditional lender in Brazil. The latest financing round held by Nubank left it sitting on a market valuation of $30 billion, […]

Virgin Orbit to go Public Through Merger Deal With SPAC

Provider of launch services for small satellites Virgin Orbit is set to go public through a merger deal with a Special Purpose Acquisition Company (SPAC), NextGen Acquisition Corp. (NGCA), which will leave the company with a market valuation of around $3.2 billion. This merger deal will include a $100 million financing from Boeing Co. (BA), […]

Goldman Sachs Set to Acquire Asset manager NNIP in a $1.98 Billion Deal

Global investment bank providing securities and investment management services Goldman Sachs Inc. (GS) is set to acquire the asset management unit of Dutch based insurer NNIP Group in a deal worth $1.98 billion. This deal will go down as the biggest acquisition deal ever since the current chief executive officer of the bank, David Solomon […]

LG Display Investing $2.8 Billion in Light-Emitting Diode Plants

Manufacture of thin-film transistor liquid crystal display panels OLEDs and flexible displays LG Display Co Ltd. (KRX: 034220) is planning to invest $2.8 billion in small to mid-sized organic light-emitting diode (OLED) panel manufacturing facilities. According to a regulatory filing made by the South Korea based company, this investment is slated to take place starting […]

Germany Selling up to 25% of its Stake in Lufthansa

German is intending to sell up to 25% of its stake in the country’s largest airline Lufthansa AG (ETR: LHA) following positive development by the airline which the government bailed out when it was going through harsh financial times due to the coronavirus pandemic. This announcement was first made on the German finance agency, moments […]

Cineworld Contemplating a United States Listing

UK based leading multiplex cinema chain Cineworld Group Plc. (LON:CINE) is considering to get listed on the united States capital markets as a way of boosting its financials which have been left hugely dented by the pandemic. Considering the first half results of the year, United States capital markets have proved to be the largest […]

Tesla Sold 32,968 Chinese Made Vehicles in July

Leading electric-vehicle manufacturing company Tesla Inc. (TSLA) sold a total of 32,968 Chinese made vehicles last month. This data was revealed by the China Passenger Car Association (CPCA). According to CPPA, 24, 347 of the cars were exported from China, the remaining 8, 621 is what the company sold in the local Chinese market. This […]

Thales Selling Signalling Business to Hitachi for $2 Billion

France based company designing and building electrical systems providing services to defense, transportation, aerospace and security markets Thales Group (PA: TCFP) said that its engaging in talks which are at advanced stage concerning selling GTS railway signalling business to Japan based Hitachi Group (TYO: 6501). This sale will happen in a deal worth $2 billion […]