Markets

Phone Prices of Huawei Increases in China Due to Chip Shortage

The prices of Huawei’s smartphones is set increase after U.S completely cut down the company’s ability to access chips produced in the United States or those produced using technology or software from U.S. Many customers of Huawei Technologies in China are now in haste to buy Huawei’s products fearing the cut of chip supply will […]

Opendoor to Go Public Through Merger With a Blank Check Company

Property tech startup Opendoor Labs Inc. is planning to go public through a merger with a blank check company known as Social Capital Hedosophia Holdings Corp. The IPO will be led by several investors including Chamath Palihapitiya. The IPO will be backed by Japan based conglomerate SoftBank group Corp. (TYO: 9984) and it will leave […]

ByteDance Abandons Sale of TikTok’s U.S Operation Instead It’s Pursuing a Partnership

ByteDance, The parent company of Chinese short video sharing app TikTok has reversed its earlier decision of selling U.S operations of TikTok to an American entity, ByteDance is now engaging in a potential partnership with tech company Oracle Corp (ORCL). U.S President Donald Trump, issued an ultimatum of 45 days last month for the company […]

Gilead Almost Closing a Deal Worth Over $20 Billion to Purchase Immunomedics

U.S based bio-pharmaceutical company Gilead Sciences Inc. (GILD) is just a step away from signing a deal to acquire fellow pharmaceutical company Immunomedics Inc. (IMMU) in a deal worth more $20 billion. This development was first reported on Wall Street Journal, according to WSJ Gilead will be using this acquisition to expand its cancer treatment […]

Huawei Set to Introduce Its Smartphone Operating System ‘Harmony OS’

Leading Chinese tech giant Huawei Technologies is looking forward to introduce its own smartphone operating system dubbed ‘Harmony OS’ which will rival dominant Google owned Android operating system. This information was revealed by the company’s head as consumer business Richard Yu, who said the OS will be launched next year. Huawei has already developed a […]

Oracle Makes Clouds Business Deals With MacDonald, Humana and Albertsons.

U.S based Tech Company Oracle Corp. (ORCL) has secured cloud business deals with MacDonald Corp. (MCD), Humana Inc. (HUM) and Albertsons Companies Inc. (ACI) to shift some of their work to cloud computing services of Oracle. Oracle says MacDonald will move its North American financial systems to Oracle’s cloud services, The remaining two will also […]

Pandemic Slows Slack’s Growth Rate in Second Quarter

Slack Technologies Inc. (WORK) the parent company of workplace messaging app Slack reported its results for the second quarter of the year in which it recorded declining growth rate which the company attributes to the coronavirus pandemic. “In Q2, growth in many of our customers contracted or flattened versus normal seasonal trends. In August, growth […]

ByteDance to Dish Out Cash Bonuses to Employees to Help Them Overcome Challenging Times

ByteDance the parent company of short video sharing app Tiktok has announced that it will be dishing out cash bonuses to its employees to help them overcome challenges and inefficiencies brought about by coronavirus pandemic. According to the company’s internal memo full time employees who have worked equal or more than 26 days between July […]

Samsung Secures Contract to Supply Verizon With 5G Equipment

Tech giant Samsung Electronics (005930) has announced having secured a contract worth $6.64 billion to supply U.S based telecommunication equipment company Verizon Inc. (VZ) with 5G network equipment. Samsung is becoming a beneficiary of its competitor’s woes Huawei Technologies which has been banned from undertaking any 5G project in the United States by Trump’s administration […]

Yum China Looking Forward to Raise $2.2 Billion From Secondary Hong Kong Listing

Chinese based American fast food restaurant Yum China Inc. (YUMC) is looking forward to raise $2.2 billion from its upcoming secondary listing in the stock exchange of Hong Kong. Insider information indicates the company will be selling its stock at HK$412 per share. The company said it will floating 41.91 million shares in Hong Kong, […]