Finance

FinAccel, the parent company of leading digital consumer credit platform is Southeast Asia Kredivo says that it has reached an agreement to go public through a merger deal with a special purpose acquisition company (SPAC,) VPC Impact Acquisition Holdings II (VPCB). The company says the deal is a buy-now-pay-later (BNPL) and it’s worth $2.5 billion […]

Japanese multinational company investing in technology, financial and energy sector Softbank Group Corp. (TYO: 9984) is looking forward to sell 45 million of its shares in Uber Technologies Inc. (UBER). This information was revealed by an insider source. The insider source who sought anonymity, says any buyer interested in these shares will have a 30-day […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]