Lyft to Cut Down on Hiring and Assess Budget Cuts

Transport service company operating a mobile app and providing ride hailing services Lyft Inc. (LYFT) says it will slow down on its hiring operations and assess further budget cuts in some department. This move is similar to what its industry peer Uber Technologies Inc. (UBER) announced a few weeks ago. “We’re also being responsible about […]

Broadcom Set to Acquire Cloud Service Provider VMware

Semiconductor and infrastructure software products manufacturer Broadcom Inc. (AVGO) is holding talks with an aim of acquiring provider of cloud service VMware Inc. (VMW). This information was disclosed by people who are directly involved in the matter. According to the sources, talks between the two companies are still underway but too far from reaching a […]

JPMorgan is Expecting a Slowdown in its IT Services Industry in India

United States based investment bank and financial service provider JPMorgan Chase Co. (JPM) is wet to cut down on its information technology (IT) operations in India since the growth boom the sector experienced during the pandemic time is over. The company’s analysts say that they have downgraded the sector to underweight. The sector is valued […]

KKR to Acquire Power Generation Firm ContourGlobal for $2.2 Billion

United States based private equity firm KKR & Co Inc. (KKR) will be acquiring wholesale power generation company ContourGlobal PLC (LON: GLO) in a deal worth 1.75 billion pounds ($2.16 billion). KKR says this acquisition deal will come as a strategy of expanding its presence in the renewable energy industry. According to the acquisition deal, […]

Ford Sells 7 Million Rivian Shares for $188.2 Million

United Stated based car maker Ford Motor Co. (F) has sold 7 million shared it held for electric vehicle manufacturer Rivian Automotive Inc. (RIVN) for $26.88 per share with the total transacting amounting to $182.2 million. This was revealed through a filing Ford made with regulator last week. According to the filing with the U.S […]

Nissan Expects No Profit Growth due to Rising Cost of Raw Materials

Japan based car maker Nissan Motor Co. (TYO: 7201) has predicted a flat operating profit for the current financial year citing the increasing cost of raw materials, COVID restrictions in China and the global computer chip shortage. This comes less than a day after its industry peer Toyota Motor Co. (TYO: 7203) announced that the […]

Toyota Says Rising Costs of Raw Materials Will Slice 20% of its Full Year Profit

Japan based car maker Toyota Motor Co. (TYO: 7203) has warned that the increasing cost of raw materials will eat up to 20% of its full year profit while reporting its fourth quarter results in which recorded a 33% decline in operating profit. Toyota is expecting the price of raw materials to more than double […]

Jefferies CEO Handler’s Account Instagram Account Hacked

American independent investment bank and financial service provider Jefferies Financial Group Inc. (JEF) announced that the Instagram account for its Chief Executive Officer Rich Handler had been hacked. This incidence took place during the past weekend. “Any stories related to discounted sales of shares, crypto donations or donations to Ukraine that appear on that hacked […]

ICE set to Acquire Black Knight in a Deal Worth $13.1 Billion

United States based technology company operating global exchanges, clearing houses and providing mortgage technology and listing services Intercontinental Exchange Inc. (NYSE: ICE) is set to acquire mortgage-lending software and data analytics company Black Knight (NYSE: BKI) in a deal worth $13.1 billion. The acquisition deal will be a cash-and-stock one which will be valuing the […]

Aston Martin Poaches Former Ferrari Head as New CEO

British luxury car manufacturer Aston Martin Langonda has poached the former head Ferrari NV (BIT: RACE) Amedeo Felisa as its new chief executive officer who will be taking over from outgoing CEO Tobias Moers who assumed the position back in 2020. Felisa served as the head of Ferrari between 2008 and 2016, he currently serves […]