Markets

Airbnb Goes Public Raising around $3.5 Billion in the IPO

Finally much anticipated initial public offering of vacation rental online market place Airbnb happened on December 9 with the company pricing its share at a higher price than earlier issued price range. In the IPO Airbnb sold its shares at $68 per share, the company had earlier issued a price range of $44 to $50 […]

Blue Moon Raises $1.27 Billion From Hong Kong IPO

China based detergent manufacturer Blue Moon Group Holdings went public on the Hong Kong Stock Exchange market after pricing its shares at HK$13.16. This piece was at the top range of HK$10.20 to HK$13.16 issued by the company last week for the initial public offering. In the IPO the company sold 747.1 million shares giving […]

JD.com Makes History as the First Online Platform to Accept China’s Digital Currency

Chinese e-commerce company Jingdong commonly known as JD.com has made history becoming the first online platform to accept China’s digital currency. The company said it’s very much proud of becoming first Chinese virtue platform to accept China’s homegrown digital currency. Going forward, the company’s fintech unit JD Digits will be accepting digital yuan as a […]

XPO Logistics Will be Splitting its Warehousing and Logistics Business

Transportation and contract logistics company XPO Logistics Inc. (XPO) will be splitting its warehousing and Logistics business to two different business entities further they will exist as two different public companies. The company broke the news further adding freight transportation and truck brokerage businesses will stick with XPO whereas the new entity will focus on […]

Free Users Pushing Down Zoom’s Profit Margins

Communication technology company Zoom Video Communications (ZM) has expressed its concerns that increasing number of free users of its services is curtailing the company’s profit margins. The company is afraid going into next year its profit margin will continue being curtailed by the astronomical growth in number of free users courtesy of the pandemic which […]

Biogen to Invest $1.5 Billion in Sage Therapeutics

Massachusetts based Biotechnology Company Biogen Inc. (BIIB) said it will be pumping in a $1.5 billion investment in fellow biotechnology company Sage Therapeutics Inc. (SAGE). This investment is set to help the two companies jointly develop treatments for depression and other neurological disorders. Biogen will be making an upfront payment of$875 million for the investment. […]

Amazon to Reward U.S Front Line Workers With $500 Million Holiday Bonuses

World’s largest e-commerce company Amazon Inc. (AMZN) will be rewarding its United States based front line workers working during the holiday season during the pandemic with one time holiday bonuses totaling up to $500 million. Citing a blog post from the company’s website, full time employees of the company working in the United States From […]

TikTok Granted 7 Day Extension Period to Sell its U.S Operations

The administration of outgoing U.S President Donald Trump granted ByteDance a seven day extension period to for the company to sell U.S operation of its short video sharing app TikTok to an American entity. The sale order was issued by a U.S court in August directing ByteDance to surrender TikTok’s U.S operations to an American […]

Digital Rights Group Files Complaints Against Apple’s Tracking Tool

Privacy activist Max Schrems led digital rights group Noyb in filing complaints against an online tracking tool owned by Apple Inc. (AAPL) the group made the filing with Spanish and German data protection authorities. In the filing the group claims the online tracking tool allows IPhones to store users’ data without permission from the users […]

Bolt Will be Investing $118 Million in Europe’s e-Scooter Market in 2021

Ride hailing company Bolt will be investing more than 100 million euros ($118 million) in European e-scooter market come 2021. Following this investment the Estonia based will become the largest e-scooter rental company in Europe. The company is intending to introduce 130,000 scooters to 100 cities across Europe in 2021. CEO and co-founder of Bolt […]