Finance

Skillsoft Becomes the latest Company to File for Bankruptcy

U.S based educational technology company Skillsoft Corp. (SKIL) becomes the latest entry in the list of company which have filed for bankruptcy during this time of coronavirus pandemic. On June 15, the learning management software and content producer announced having filed for chapter 11 bankruptcy. The e-learning company says the main reason behind bankruptcy filing […]

PayPal and WhatsApp Investing in Indonesia Based Gojek App

Online payment system PayPal Inc. (PYPL) and Facebook Inc. (FB) owned online messaging platform WhatsApp announced they will be investing in Gojek app which is a ride hailing, food and payment app based in Indonesia. Gojek is currently running financing rounds, the two companies did not disclose the size amount of their investment or stakes […]

Netease Targeting to Raise $2 to $3 Billion in Upcoming Hong Kong IPO

China based online gaming Company Netease Inc. is looking forward to raise anything between $2 and $3 billion in its Hong Kong secondary initial public offering slated for later in the year. This was revealed by sources involved with the matter. The company says its anticipating being on several secondary listings as the year progresses, […]

American Airlines Will Cut Down Labor Force by 30%

American Airlines Group Inc. (AAL) issued a letter to its workers indicating that it must trim down its management and support employees by at least 30% for the company to come out of the plunge it has been left into by coronavirus pandemic which has significantly affected the aviation sector globally. By now all major […]

Volkswagen Finalizing Deals With Two Chinese EV Companies

German based and world leading automaker Volkswagen AG (VOWG) is in the brink of sealing deals with two Chinese electric vehicle companies namely Anhui Jianghuai Automobile Group Holding and an EV battery manufacturer Guoxuan High-tech Co Ltd (002074). Sources have revealed that Volkswagen is set to part with 3.5 billion yuan ($491 million) to acquire […]

Lenovo Soar Above Analysts’ Estimates in Quarter Reports

Hong Kong PC maker Lenovo Group Limited (HKG: 0992) has posted its results for the quarter ending March 31, the company registered declining sales and profits due to the pandemic but it largely performed better than what analysts had estimated. Net profit for the company’s fourth quarter slumped by 64% to $43 million but it […]

Coronavirus Pandemic Pushes Intelsat into Bankruptcy

Luxembourg based satellite company Intelsat Corp SA. (I) announced that it had filed for chapter 11 bankruptcy earlier in the week. The tech company says coronavirus pandemic is the main reason it decided to seek bankruptcy protection. The bankruptcy was filed in the U.S. Bankruptcy Court for the Eastern District of Virginia. Under the filling, […]

Nissan to Trim Financial Guidance by $2.8 Billion in Restructuring Plans

Japan based automaker Nissan Motor Co (7201) is looking forward on holding meeting to restructure financial guidance of the company for the year citing unavoidable disruptions caused by coronavirus pandemic which has resulted to reduced demand due to restricted movement of individuals. This information was first published on Bloomberg News indicating Nissan is planning to […]

BMW Slashes Financial Guideline Says Pandemic Effect Will Last Entire year

German based luxurious car manufacturer Bayerische Motoren Werke AG (BMW) has announced withdrawal from earlier released financial guidance for the year further adding effects caused by coronavirus pandemic will affect the company’s performance for the entire year. “The BMW Group still expects the spread of the coronavirus and the necessary containment measures to seriously dampen […]