Money

NEC to Acquire Avaloq in a Deal Worth $2.2 Billion

Japan based technology and electric company NEC Corp (TYO: 6701) will be purchasing Swiss based financial software company Avaloq Group AG in a deal worth 2.05 billion Swiss francs ($2.2 billion). NEC opts to use this acquisition to make entry into the financial software market. For the longest time now Avaloq has remained as a […]

Cleveland-Cliffs Strikes a $1.4 Billion Deal to Purchase Assets of ArcelorMittal

U.S based largest producer of iron ore pellets Cleveland- Cliffs Inc. (CLIF) announced that it has agreed to buy U.S assets of world’s largest steel manufacturer ArcelorMittal SA (AMS: MT) in a deal worth $1.4 billion. ArcelorMittal has been engaging in a realignment to consolidate and diversify its business with an aim of making it […]

Robinhood Trader Fetches $660 Million From Its Latest Financing Round

Financial technology and trading company Robinhood Markets Inc held its latest financing round from which it fetched a total of $660 million from investors. The news was announced by the company’s spokeswoman who further said the latest financing round gave the company a market valuation of $11.7 billion. Robinhood is commonly associated with the millennial […]

Apple to Launch First Ever Online Store India

IPhone maker Apple Inc. (AAPL) is looking forward to launch its first online store in India on September 23. Apple announced the upcoming event which is just a week away further saying the launch will happen coincidentally with India’s festive season which happens in the same period. Currently Apple sells its products in India through […]

Steve Cohen Will Be Buying New York Mets Baseball Team

Wealthy hedge fund manager Steve Cohen has penned an agreement with Sterling partners to purchase New York Mets baseball team. This deal was announced in a joint statement by both parties. “I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” said Cohen. The 64 […]

Sumitomo Sells Entire Stake in U.S Marcellus Shale Gas Project

Japan based trading company Sumitomo Corp (8053) has sold its entire stake in Marcellus Gas Project based in the United States. The company confirmed the report however it failed to disclose how much it fetched from the sale and the buyer of the stake. “We have sold our stake as it is difficult to predict […]

The Hut Eyeing a $1.22 Billion Listing in the London Stock Exchange

U.K based e-commerce company The Hut Group is eyeing a London Stock Exchange Listing. The company confirmed the development further adding that it’s looking forward to raising 920 million pound ($1.22 billion) from the initial public offering. This listing will go down as the largest by a Britain company in the London Stock Exchange since […]

Berkshire Hathaway Buys 5% Stake in Japan’s 5 Biggest Trading Firms

Berkshire Hathaway Inc. (BRK) has purchased 5% stake in each of Japan’s five biggest trading companies. Cumulatively this investment cost $6 billion, the information was revealed by the company’s founder and Chairman Warren Buffett during his 90th birthday. “The five major trading companies have many joint ventures throughout the world and are likely to have […]

Bill Gates Invests $78 Million in Satellite Company Kymeta

American billionaire Bill Gates has invested $78 million in satellite antenna company Kymeta. The founder of Microsoft Corp. (MSFT) pumped in his investment during a financing round held by the company from which it fetched $85.2 million. Kymeta engages in selling antennas for installation on boats, trains and cars. The company’s president Walter Berger, says […]

Nongfu Spring Aiming to Raise $1.08 Billion in Upcoming Hong Kong IPO

China based drinks manufacturer Nongfu Spring has announced that it’s looking forward to raise $1.08 billion in its upcoming Hong Kong initial public offering which is slated for 25 August all through to 28 August. The company will sell a total of 388.2 million shares and it will be pricing the shares between HK$19.50 to […]