Money

Trump Refuses Proposal to Trim Military Healthcare Budget by $2.2 Billion

U.S President Donald Trump has rejected a proposal coming from the Pentagon which suggested the President to cut down budget of military healthcare by $2.2 billion. Reports point out that Pentagon officials working on a cost-trimming review by Defense Secretary Mark Esper proposed the military healthcare budget to be cut down by the $2.2 billion, […]

Roper Eyeing to Purchase Vertafore for $5.5 Billion

U.S based software manufacturer Roper Technologies Inc. (ROP) has expressed interest to purchase private equity owned insurance software vendor Vertafore Inc. sources linked with the matter are valuing the potential deal at $5.5 billion. If the deal sails through, then it will be the ever largest acquisition deal by Roper giving the company an enlarged […]

Alibaba Health Raises $1.3 Billion in Hong Kong Secondary Share Sale

China based provider of healthcare services Alibaba Health Information Technology sold its shares in the Hong Kong market which fetched it around $1.3 billion. The sale was conducted on August 4 in the market which acts as the secondary market for the parent company Alibaba Group Holding (BABA). The company issued 499 million shares priced […]

Mackenzie Has Donated $1.7 Billion Since Divorcing Jeff Bezos

MacKenzie Scott, who is the former wife of world’s richest man Jeff Bezos said that she had donated a total of $1.7 billion in the last one year since termination of her 25 year old marriage with Jeff Bezos. In a blog post, MacKenzie says some of the cash was donated to climate change, public […]

Trump Holds First Virtue Fundraiser Raising $20 Million

U.S President Donald Trump conducted his first ever virtual fundraiser on June 21 which fetched him a whopping $20 million. Trump who is seeking re-election to office under a Republican Party ticket, received over 300,000 donations. This campaign was held on Zoom platform where his supporters across the country participated in a Zoom call with […]

Chinese EV Maker Xpeng Raises $500 Million

China based electric vehicle manufacturer Xpeng Motors held its latest financing round on 20 July managing to raise a total of $500 million. Among investors who participated in the financing round include Sequoia Capital China, Aspex, Hill House and Coatue. However, the company failed to disclose its valuation after the financing round. It’s now six […]

Allstate to Acquire National General in a Deal Worth $4 Billion

U.S based insurance company Allstate Corp (ALL) has announced its intention to acquire National General Holdings Corp (NGHC) with an aim of expanding its insurance business even though the insurance sector has been greatly affected by the pandemic due to reduced claims emanating from reduced road traffic. National General declares automobile insurance as its core […]

Berkshire to Acquire Dominion Energy’s Gas Assets for $4 Billion

Berkshire Hathaway Inc. (BRK) made it public that it will be purchasing the natural gas transmission and storage network of Dominion Energy Inc. (D) in a deal worth $4 billion. Dominion says it resulted to selling the gas assets so as to concentrate on utilities operations. On the other side, Berkshire says this deal will […]

Singapore Exchange to Acquire 80% Stake in BidFX for $128 Million

Singapore based investment holding company Singapore Exchange Limited (SGX) has announced that it will be cashing out a whopping $128 million to acquire 80% stake in forex trading platform BidFX. Singapore exchange says this acquisition deal is among other several it will be undertaking as it seeks to make entry into the foreign exchange futures […]

Bayer Agrees to Pay $10.9 Billion in U.S Litigations

German based drugs and pesticides manufacturer Bayer AG (ETR: BAYN) has agreed to pay up to $10.9 billion to settle 100,000 cases filed by U.S residents. A majority of this cases accuse the company of causing cancer to many through it’s widely used weedkiller Roundup. In a statement issued on June 25, the pharmaceutical company […]