Money

Spotify Records 20% Increase in Paid Subscribers in the Second Quarter

Audio streaming and media service provider Spotify Technology S.A. (SPOT) has published its quarterly reports for the second quarter ended June 30 in which it recorded a 20% in its paid subscription services. Citing the July 28 released results, the company beat Wall Street’s estimate for the second quarter of the year. Spotify reported revenue […]

Food-Tech Firm NotCo Raises $235 Million in Latest Financing Round

Food-tech company producing plant-based alternatives animal-based food products NotCo announced having raised $235 million in its recently concluded financing round. This financing round leaves the company with a market valuation of $1.5 billion. Notable personalities in the world of sports took part in the just concluded financing round among them include Roger Federer and Lewis […]

Tencent Denied Exclusive Rights in Online Music by Chinese Regulator

Chinese multinational technology company Tencent Holding Ltd. (HKG: 0700) will be denied online music rights by China’s market regulator regulator, The State Administration of Market Regulation (SAMR). The regulator says it will ban Tencent from exclusive copyright agreement and slap the company with fines for unfair market practices in the online music market. Among the […]

YouTube Pulls Down President Bolsonaro’s Videos Cites COVID-19 Misinformation

Alphabet Inc. (GOOGL) owned online video sharing platform YouTube has pulled down videos from Brazilian President Jair Bolsonaro’s channel citing that the videos spread misinformation about COVID-19 outbreak. During a press conference, YouTube said the videos were removed after careful reviews and without political considerations about President Bolsonaro or his political ideologies. Brazil is on […]

Zegna to Get Listed in the U.S Through a $3.2 Billion SPAC Merger Deal

Italy based luxury fashion house group Ermenegildo Zegna is looking forward to get listed on the New York Stock Exchange through a $3.3 billion merger deal with a Special Purpose Acquisition Company (SPAC). This deal will help the company expand its operations in the United States and Asia. The company’s chief executive officer, Gildo Zegna, […]

Global Financial Regulator Says Working From Home is Promoting Cyber Attacks

The Financial Stability Board (FSB) claims that the sudden shift to working from home courtesy of the pandemic is a reason for increased cyber-attacks which have increased tremendously in recent times. The FSB which is responsible for coordinating financial rules for is advising that financial companies may need to reinforce their defenses in the wake […]

Tencent’s Merger With leading Videogame Streaming Sites Blocked by Antritrust Regulator

Chinese market regulator, State Administration of Market Regulation (SAMR), says thet it will be blocking a merger deal between Tencent Holding Ltd (HK: 0700) and China’s leading two videogame streaming websites namely Huya (HUYA) and Douyu. The antitrust regulator says that it will be blocking this merger deal on antitrust grounds after reviewing additional concessions […]

Bukalapak Adjusts IPO Target to Over $1 Billion

Indonesia based e-commerce company Bukalapak has increased its initial public offering target to over $1 billion following a strong demand. This adjustment represents a 25% increase compared to the initial target given by the company. This IPO is set to go down as the largest listing in thirteen years by a Southeast Asian country. The […]

Syngenta to Use $10 Billion From Shanghai IPO to Fund Acquisitions and Expansion

World leading provider of agricultural science technology focusing on seed and crop protection products Syngenta AG (SYT) says that it will be using the $10 billion it will fetch from its Shanghai stock exchange initial public offering to finance growth and acquisitions. The company made the announcement through its official website following the IPO announcement […]

Johnson & Johnson to Pay $230M in Opioid Settlements in New York

United States bases pharmaceutical company which also manufactures medical devices Johnson & Johnson (JNJ) will be paying a whopping $230 million to settle claims that it catalyzed an opioid epidemic in the state of New York and two of its largest counties Nassau and Suffolk. This settlement payment automatically erases the company from a jury […]