Finance

Auditors Discover Accounting Errors in Two U.S Units of IT Company Atos

Financial auditors have discovered some accounting errors in two United States units of French IT consulting firm Atos SE (EPA: ATO). The units affected are Atos IT Outsourcing Services LLC and Atos IT Solutions and Services Inc. According to the statement issued by the auditors these errors constitute to about 11% of the company’s consolidated […]

BlackRock Closes Down its Shanghai Private Fund Unit

U.S based investment management company BlackRock Inc. (BLK) will be closing down its private fund unit in Shanghai. The global asset manager says it resolved to close down the unit so as to focus on its mutual fund business in China. Citing a post from the website of Asset Management Association of China (AMAC), less […]

Swiss Air Staring at an Imminent Job Cut Says CEO

The Chief Executive Officer of Swiss International Airlines Ltd Dieter Vranckx says they could be conducting an additional job cut in the second quarter of the year as the pandemic continues to bite the airline industry hard all over the world. The chief executive revealed this information during an interview with a Swiss newspaper SonntagsBlick. […]

Intel Using $20 Billion to Build Two U.S Chip Plants

Newly appointed Chief Executive of world’s largest chip manufacturer Intel Corp (INTC) Patrick P. Gelsinger says the company has allocated $20 billion to build two new chip plants in Arizona. Gelsinger claims this is part of greater plans Intel will be venturing into to expand its advanced chip manufacturing business. The cash set aside will […]

Microsoft Engaging Discord Aiming to Buy the Messaging Platform

Tech giant Microsoft corp. (MSFT) is holding talks with Discord Inc. with an aim of acquiring the instant messaging and digital distribution company in a deal worth over $10 billion. Sources involved in the matter say that Discord reached out for interested buyers and Microsoft has expressed its interest as a potential buyer. The sources […]

Nikola’s Investor Hanwha Trimming Its Investment in the EV Manufacturer

Arizona based electric vehicle manufacturer Nikola Corp. (NKLA) announced that its South Korea based investor Hanwha Corp. (KRX: 000880) will be reducing its investment in the EV manufacturer by 50%. Citing a filing with the securities exchange commission, Hanwha holds 5.65% stake in Green Nikola Holdings a subsidiary of Nikola. It’s this stake which Hanwha […]

Just Eat Takeaway Expecting Continuous Growth in 2021

Europe based online food ordering and home delivering company Just Eat Takeaway.com (AMS: TKWY) says it’s expecting the growth rate it experienced last year due to increased orders to extend to 2021. Online orders for the company rapidly increased last year due to movement restriction imposed to stop fast spread of the virus. The company […]

Identity Management Company Okta to Purchase Auth0 for $6.5 Billion

Identity and access management company Okta Inc. (OKTA) said it had reached a deal to purchase Auth0 its smaller competitor in a deal worth $6.5 billion. This deal will be an all stock one, so far it will be the largest software deal in 2021. Okta majorly provides software which assists companies to manage and […]

Boyu Capital Targets $6 Billion in New Private Equity Fund

China based private equity firm Boyu Capital is consolidating a new China focused fund aiming to raise as much as $6 billion. This was revealed by sources involved with the matter but sought anonymity since the company is yet to let out this information to the general public. Boyu Capital has invested in several notable […]

Lucid Motors to go Public Through a Merger Deal with Churchill Capital IV

America based luxury electric vehicle manufacturer Lucid Motors says it has agreed to go public through a merger deal with Special Purpose Acquisition Company Churchill Capital IV Corp (CCIV). This merger deal will leave the combined company with a market valuation of $11.75 billion. Lucid based in Newark, California is headed by a former engineer from […]