Finance

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, […]

Nokia Employees Can Now Work Remotely Three Days in a Week

Finland based multinational information technology and consumer electronics company Nokia Corp. (HE: NOKIA) said that its workers can now pick up to three days in a week to work remotely as a way of increasing flexibility of employees’ working hours. The current working from home policy for the company is set to expire in December […]

EBay Selling its South Korean Business in a Deal Worth $3.6 Billion

United States based international e-commerce company eBay Inc. (EBAY) announced that it will be selling its South Korea business in a deal worth about 4 trillion won ($3.6 billion). According to involved sources, eBay is selling its South Korea unit to two entities; E-Mart Inc. (KS: 139480) a South Korea based online retailer owned by […]

Emirates Records $5.5 Billion Annual Loss for the First Time in Over Three Decades

United Arab Emirates (UAE) largest airline Emirates Airlines (UL: EMIRA) announced having recorded net annual losses of $5.5 billion for the first time in a period of 33 years courtesy of the coronavirus pandemic. The chairman of Emirates Airlines, Sheikh Ahmed bin Saeed Al Maktoum, made the announcement on June 15 adding that recovery from […]

Boxed Inc to Go Public Through a $900 Million SPAC Deal

United States based e-commerce retailer that offers direct delivery of bulked-sized grocery packages Boxed Inc. will be going public through a merger deal with blank-check company Seven Oaks Acquisition Corp. (SVOK) in a deal which will give the merged company a market valuation of about $900 million. This merger deal is expected to leave Boxed […]

Alex and Ani Files for Chapter 11 Bankruptcy Protection

United States based jewelry producer Alex and Ani LLC has filed for chapter 11 bankruptcy protection. According to the court documents, the company made the filing on June 9 in the United States Bankruptcy Court for the District of Delaware. Citing the filing, the company has listed an estimated assets range of $100 million to […]

Nvidia Requests Chinese Regulator to Approve $40 Billion Takeover Deal

Leading designer and manufacturer of graphics processors Nvidia Corporation. (NVDA) has submitted an application to Chinese competition regulators urging them to review a $40 billion takeover deal of UK chip designer Arm. Nvidia made the takeover bid a few weeks ago, Chinese antitrust lawyers said the potential deal is subject to regulatory approval which can […]

Zoom Gives Q2 Revenue Estimates Higher Than Wall Street’s Estimate

By now, leader in modern video communication services Zoom Video Communications Inc. (ZM) is a household name across the world due to its massive usage due to its video and audio conferencing services many find convenient. The company has given its estimates for the current second quarter which is on the higher side compared to […]