Finance

Twitter Interested in Purchasing TikTok’s U.S Operations

Widely used social network Twitter Inc. (TWTR) has expressed its interest in purchasing U.S operations of controversial Chinese short video sharing app TiKTok. Insider sources revealed that Twitter has already approached TikTok’s parent company ByteDance. Last week U.S President Donald Trump gave a 45 days ultimatum for Microsoft Corp. (MSFT) and ByteDance to work out […]

Uber Set to Purchase Tech Company Autocab

Widely used ride hailing company Uber Technologies Inc. (UBER) is looking forward to purchase Britain based tech company Autocab. The company majorly engages in development of booking and dispatch software to private hire firms. Uber considers the acquisition as a strategic one since it will be able to reach customers in markets where currently it […]

Google Acquiring 6.6% Stake in ADT for $450 Million

The parent company of Google Alphabet Inc. (GOOGL) is set to purchase 6.6% stake in ADT Inc. (ADT) in a deal where the tech giant will cash out $450 million. Google is aiming at capitalizing on its strong customer base and its tech experts to increase sale of ADT’s devices. This deal grants ADT confidence […]

Pandemic Pushes Tailor Brands to Bankruptcy

Retail holding company for men apparel Tailor Brands Inc. (TLRD) has filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. The retailer cites breakout and continued rapid spread of deadly COVID-19 which has crippled many sectors of the economy resulting to significant declined sales by the company. Among […]

Siemens Healthineers Set to Acquire Varian Medical for $15 Billion

German based medical technology company Siemens Healthineers AG (SHLH) is looking forward to purchase manufacturer of cancer treating devices and software company Varian Medical System Inc. (VAR). People involved in the matter have revealed talks on the same are on advanced stages coming to an end and the deal will be worth $15 billion. The […]

Li Auto Expecting to Raise $1.1 Billion in its U.S IPO Debut

China based electric vehicle manufacturer Li Auto Inc. (LI) is looking forward to raise $1.1 billion in its upcoming Nasdaq initial public offering in slated for July 30. The company said it sold more shares than it anticipated to investors. According to internal sources, the company sold 95 million shares to investors at $11.5 per […]

Remington Files for Bankruptcy

U.S based gun manufacturer Remington Arms Co filed for Chapter 11 bankruptcy protection on July 27. Some recent incidents involving school shootings in the United States resulted to multiple gun sellers placing additional restrictions on purchase of guns. These additional restrictions caused financial troubles to some of companies engaging in guns business. This now makes […]

Flipkart Acquires Walmart’s Wholesale Business in India

Walmart Inc. (WMT) owned and India based online retailer Flipkart has announced having purchased Indian wholesale business owned by its mother company. Flipkart said the deal will give it increased synergies to compete with giant e-commerce giant Amazon Inc. (AMZN). This deal will strengthen wholesale offerings of Flipkart further allowing it to launch a digital […]

Snapchat Misses Daily Active Users Target by a Whisker in Q2

Widely used multimedia messaging app Snapchat slightly missed its target for daily active users in the second quarter of the year. This information was revealed by the mother company of the app Snap Inc. (SNAP) as it was reporting its results for the second quarter ended June 30. Analysts had anticipated daily active users of […]

EBay Set to Sell Its Classified Ads Unit to Adevinta

U.S based e-commerce Company EBay Inc. (EBAY) is said to be in advanced talks regarding selling its classified ads unit to Norwegian based Adevinta Group (ADEV). The company says it resolved to sell the unit so as to focus on its main marketplace business. The news was first revealed on Wall Street Journal, the deal […]