Markets

EV Maker Rivian Seeking a $70 Market Valuation After IPO

United States based electric car manufacturer Rivian Automaker is targeting to have a market valuation of around $70 billion after much awaited initial public offering of the company slated for later this year. Citing documented data, the company had a market valuation of $27.6 billion in the beginning of the year after conclusion of an […]

HSBC Closing Down Retail Banking Business in U.S

Britain based financial services provider and investment bank HSBC Holding Plc. (LON: HSBC) has announced that it will be closing down its retail banking business in the United States citing the business has only been making losses after losses. HSBC says it will rather shift its focus in Asia which serves as its biggest market […]

Walmart Says it Blocked Emails Containing Racial Insults From Being Sent Via its Domain

United Sates based retail corporation running a string of hypermarkets, grocery stores and discount department stores Walmart Inc. (WMT) says that it blocked some emails which contained racial slurs from being sent through the company’s domain. This happened after a heated social media backlash which resulted to some twitter users posting screenshots bearing the company’s […]

Huawei To Release New Smartphone Operating System in June

China based technology company Huawei Technology is gearing up to release a new smartphone operating system on June 2. This is set to be the biggest development by the company since its fallout with United States following spying allegations last year. This new operating system for smartphones by Huawei is called Harmony OS. The company […]

SEC Approves Nasdaq Proposal Allowing Companies Raise Capital via Direct Listing

The United States Securities and Exchange Commission (SEC) has approved a proposal by American stock exchange operator Nasdaq to allow companies raise capital through direct listing rather than going through the traditional initial public offering (IPO). In its filing on the matter, SEC argues that the proposal put forward by Nasdaq is consistent with the […]

Apple Generated Commissions of Over $100M From Fortnite Online Game

IPhone manufacture Apple Inc. (AAPL) received commissions of over $100 million from Epic Games‘ online video game ‘Fortnite’. The game was only available on App Store for two years. This information was revealed by Apple’s head of game business development for the App Store, Michael Schmid during an antitrust trial in federal court in Oakland, […]

German Antitrust Watchdog Initiates Probe Against Amazon

The Antitrust Regulator in German, The Federal Cartel Office, has initiated an investigation against United States based technology and e-commerce company Amazon Inc. (AMZN) to establish if the company is exploiting its market dominance status in the country. “In a first step, we are looking at whether Amazon is of outstanding, cross-market importance for competition,” […]

Google Fined $123 Million by Italy For Abusing Its Dominance

Alphabet Inc. (GOOGL) owned search engine Google has been slapped with a $123 million fine by Italy’s competition watchdog for abusing its dominance in Android mobile Operating System and its app store Google Play. The antitrust regulator says that almost 75% of Italy’s smartphone users use Android Operating System together with its inbuilt app store […]

Xiaomi Removed From the List of U.S Blacklisted Companies

China based technology company and smartphone manufacturer Xiaomi Corp. (HKG: 1810) has been removed from the list of companies blacklisted by the government of United States. This announcement was made by U.S Department of Defense which said that going forward United States will be using litigation measures to solve any issues with the Beijing based […]

Tesla Puts On Hold Shanghai Land Buy Due to U.S-China Tensions

Leading electric car manufacturer Tesla Inc. (TSLA) has put on hold its plan of buying land in Shanghai due to uncertainty between China and United States following extended trade war between the world’s two largest economies. Sources involved in the matter revealed that Tesla is intending to scale down production in China. Previously, the company […]