Finance

Kioxia Partners With Western Digital to Build New Memory Chip Venture in Japan

Japan based computer memory manufacturer Kioxia Holdings Corp has entered into a partnership with Western Digital Corp. (WDC) to jointly build a new flash memory fabrication plant in its plant in northern Japan. This development was revealed by an insider source involved in the matter who disclosed that the project will require an investment of […]

Meta Slapped With an $18.7 Million Fine for Data Breach by Irish Watchdog

Giant technology company running various social media platforms Meta Platforms Inc. (FB) has been slapped with 17 million euro ($18.7 million) fine by Irish data regulator following an inquiry into 12 data breach notifications which the regulator claims to have received back in 2018. “Meta Platforms failed to have in place appropriate technical and organisational […]

Toshiba’s Top Shareholder to Vote Against a Spin-Off Plan

Singapore based activist investor providing financial planning and investment advisory services Effissimo Capital Management revealed it had resolved to vote against a potential spin-off of Japan based conglomerate Toshiba Corp. (TYO: 6502). Effissimo made this announcement on March 10 after it came to a conclusion that the separation might damage medium- to long-term corporate value […]

Citibank Planning to Hire 900 Employees Over the Next 3 Years

United States based investment bank and financial service provider Citibank Inc. (C) is planning to hire 900 employees over the next three years who will be working in its commercial banking unit, Citi Commercial Bank (CCB). The bank says a large chunk of the employees will be centered in its Asia Pacific Business where it […]

Tesla Secures Approval for its New Gigafactory Near Berlin

United States based electric vehicle manufacturer Tesla Inc. (TSLA) confirmed having secured an approval from the Brandenburg state environment office for its planned gigafactory near Berlin. Tesla’s application was approved by the authorities on March3. The EV maker has been seeking for a license to start production at the electric vehicle plant near and adjacent […]

Visa and Mastercard Block Russian Financial Institutions Following Sanctions

Financial services providers and digital card payment companies Visa Inc. (V) and Mastercard Inc. (MA) have both blocked various Russia based financial institutions from their network as a way of complying with the sanctions imposed by the government of United States against Russia following its invasion into Ukraine. In the beginning of the week, Visa […]

WPP Initiates a $1.1 Billion Share Buyback Program

Britain based communications, advertising, public relations, technology and commerce holding company WPP Plc. (LON: WPP) has launched a fresh $1.1 billion share buyback program for the year following a strong client demand which helped the company to surpass its financial estimates for last year. For the ended 2021 financial year, the company recorded main net […]

Allianz Sacks Two Asset Manages After Investment Fund Collapse

German based financial services provider and insurance company Allianz SE (ETR: ALV) has fired two asset managers who were in charge of the company’s group of investment funds which collapsed following a string of losses courtesy of the coronavirus pandemic which has indeed crippled many industries around the world. The collapse of $15 billion Structured […]

Ryan Holsheimer Leaving JPMorgan and Hong Kong

Ryan Holsheimer, the head of cash equities and equity distribution in Asia pacific equities at America’s investment bank and financial service provider JPMorgan & Chase co. (JPM) will be leaving both the bank and Hong Kong to make a return to Australia. This was revealed by an internal memo circulated by the company which indicates […]

Fintech Startup Flutterwave Raises $250M From its Single-Biggest Financing Round

Africa based fintech startup providing payment services and payment infrastructure for global merchants Flutterwave announced having raised $250 million from its latest financing round which went down as the single-biggest funding round ever held by the company. This financing round left the company sitting on a market valuation of $3 billion. The company says it […]