Markets

Lily Secures External Advisor for COVID-19 Drug Plant Problem

Indianapolis based pharmaceutical company Eli Lily and Co. (LLY) has announced that it has procured services of an external advisor to review its COVID-19 drug plant problem. This comes after inspectors from Food and Drug Administration (FDA) found Lily’s drug for COVID-19 violating quality control standards resulting to the company halting its vaccine development trials. […]

Ant Group Receives Approval for Its Hong Kong Leg Dual Listing

China based financial technology company Ant Group Co Ltd announced having received an approval from China’s securities regulator for its upcoming Hong Kong leg dual listing which is estimated to fetch around $35 billion. The company is planning to simultaneously get listed in the Hong Kong and Shanghai stock markets. Insider sources revealed the company […]

Twilio to Acquire Customer Data Provider Segment in Deal Worth $3.2 Billion

California based cloud communication Tech Company Twilio Inc. (TWLO) will be acquiring customer data platform Segment in a deal worth $3.2 billion. Forbes was the first to report on the matter citing having secured the news from reliable sources. According to the sources, talks concerning the deal are on advanced stages but it’s yet to […]

IBM Splitting Into Two Public Companies

International Business Machine Corp. (IBM) has announced that it will be splitting into two publicly traded companies with a main aim of focusing on high margin cloud computing. This decision has taken many unaware since no one was expecting the 109 year old company to diversify away from its traditional business. The company will list […]

Fubo TV Raises $183 Million From its IPO

2015 launched sports focused streaming provider Fubo TV Inc. (FUBO) made its initial public offering debut fetching a total of $183 million from the IPO held on October 7. The company sold its share at $10 per share in the IPO. Shares of the company will start trading on the New York Stock Exchange under […]

Microsoft Denies Allegations of Plans to Double Number of High Ranking Black Employees

U.S based Technology Company Microsoft Corp. (MSFT) has denied allegations making rounds social platforms that it plans to increase diversity in its workplaces among employees by pumping in $150 million and doubling number of black employees in high ranking positions. These reports were being spread around by the U.S. Department of Labor however the company […]

Cisco Ordered to Pay $1.9 Billion After Losing a Patent Lawsuit

Silicon Valley based Technology Company Cisco Systems Inc. (CSCO) has been ordered by a U.S court to pay $1.9 billion after losing a patent lawsuit to Virginia based Centripetal Networks Inc. for copying cybersecurity patents of the company. After over a one month period which the case lasted, U.S. District Judge Henry Morgan in Norfolk, […]

Seattle Approves Minimum Rates for Uber and Lyft Drivers

On September 29 the Seattle City Council approved the minimum pay rates for drivers who operate Uber Technologies Inc. (UBER) and Lyft Inc. (LYFT) cabs around the Seattle area. According to the new regulation which is due to take effecting starting January next year, drivers will be earning a standard minimum rate of $16.39 per […]

McAfee Files for Nasdaq IPO

Cyber security company McAfee Corp. has filed to get listed in the United States stock markets under the ticker MCFE. The data security provider is seeking to capitalize on how the markets are rebounding following from a slump several months ago attributed to the pandemic. The company did not disclose the amount of shares or […]

Suspicious Logins Reported by Tyler Technologies Days After it Had Been Hacked

Largest provider of software to the private sector in the United States Tyler Technologies Inc. (TYL) has reported suspicious logins just days after the company announced that it had been hacked by a ransomware. The company said multiple clients reported suspicious logins in their accounts on September 28. On the specific day the company said […]