Money

Thyssenkrupp to Lay Off 5,000 Employees due to Disruptions Caused by the Pandemic

German based industrial engineering and steel manufacturing company ThyssenKrupp AG (ETR: TKA) has announced that it will be laying an additional 5,000 employees as the pandemic has caused major distortion in operations of the company. This latest lay off will bring the number of employees laid off by the company courtesy of the pandemic to […]

Adobe to Purchase Workfront in a Deal Worth $1.5 Billion

Multimedia and creativity software products company Adobe Inc. (ADBE) will be purchasing Workfront, a marketing work management startup in a deal worth $1.5 billion. Adobe believes this acquisition will helps its clients link better especially at this time when many workers have been pushed to work from home due to unavoidable circumstances courtesy of the […]

Couche- Tard to Makes a Deal to Buy Convenience Retail’s Hong Kong Unit for $360 Million

Canada based operator of convenience stores Alimentation Couche-Tard Inc. (ATD) simply referred to as Couche- Tard has entered into a deal to purchase the Hong Kong unit of Convenience Retail Asia Ltd (0831 ) for HK$2.79 billion ($359.80 million). According to a regulatory made by Convenience Retail Asia to the Hong Kong bourse, the company […]

G4S Turns Down Takeover Bid From Allied Universal

Britain based security company G4S Plc. (LON: GFS) has turned down a takeover bid from its U.S based competitor Allied Universal Security Services. Bloomberg News was the first to report on the matter citing having secured the information from reliable sources. According to the post by Bloomberg, G4S rejected Allied Universal’s takeover bid due to […]

JPMorgan Increases Its Stake in Chinese Securities Joint Venture to 71%

U.S based investment bank JPMorgan Chase & Co. (JPM) announced having acquired additional 20% stake in its Chinese securities joint venture bringing its total stake in the business entity at 71%. According to an exchange filing made on November 2, the bank will be purchasing the stake from its local partners. The filling shows JPMorgan […]

Airbus Expecting to Reach Cash Breakeven in Q4

Europe based aerospace and defense company Airbus SE (EPA: AIR) has announced that it’s looking forward to reaching cash breakeven in the current fourth quarter. This is the first forward looking strategy from the company since the pandemic set foot in the beginning of the year causing major disruptions in the airline industry. Due to […]

PayPal’s Acquisition Deal to Purchase Plaid Facing Antitrust Probe

A deal in which online payment system company PayPal Inc. (PYPL) was to acquire financial technology startup Plaid Inc. is glaring at antitrust scrutiny after the U.S. Justice Department filed a petition with a U.S. district court in Massachusetts. The Justice Department is demanding more details concerning the business disclosed to the public. Currently the […]

Huawei Reports Single Digit Growth in Q3 Results

China based tech giant Huawei Technologies Co Ltd announced its results for the third quarter registering a 3.7% growth in the quarter. This becomes the only quarter of the year the company failed to post double digit growth in its quarterly results. In a statement provided by the company, for the period January to September […]

Blackstone Selling BioMed in a Deal Worth $14.6 Billion

Leading company in real estate investing Blackstone Real Estate Partners announced that together with its co-investors they have discussed and resolved to sell self-administered and self-managed real estate investment company BioMed Realty Trust Inc. (BMR) for a price of $14.6 billion. Blackstone will be selling the entity to a group led by existing investors in […]

Aimmune Stakeholders Okays $2 Billion Nestle Offer

Shareholders of biotechnology company Aimmune Therapeutics Inc. (AIMT) have thrown their support behind a $2 billion tender offer from Swiss food and drink processing company Nestle SA (SWX: NESN) to gain entire ownership of the first peanut allergy treatment approved by the United States. Launch of the peanut allergy treatment has been sluggish due to […]