Business News

Nike Leaves Amazon and Others May Follow It in This Decision

In a surprise turn of events, footwear maker Nike has decided to terminate its relationship with technology giant Amazon and it will no longer sell its goods on the retail website of Amazon. In a statement Nike said: “As part of Nike’s focus on elevating consumer experiences through more direct, personal relationships, we have made...
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SoftBank-backed DoorDash Raises Another $100 Million in Funding

The food delivery startup DoorDash backed by SoftBank Group Corp. and Sequoia Capital has received a new investment of $100 million. It seems that the San Francisco-based on-demand prepared food delivery service DoorDash Inc.’s $2 billion “war chest” is getting bigger and bigger every day. Started back in 2013, this food delivery startup is obviously...
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Chinese E-Vehicle Maker Xpeng Pulls in $400M Series C Funding from Xiaomi and Others

One of China’s major electric car makers Xpeng has announced the receipt of $400 million in funding from several firms including Xiaomi. Chinese electric vehicle company Xpeng Motors Technology Ltd. has announced it has completed a new round of funding from several investors, to the tune of $400 million. Major Chinese tech firm Xiaomi Corp.,...
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Disney+ Launches with a Slight Glitch while Stock Soars

Photo: Disney+ / Twitter In spite of steaming problems, Disney+ that offers all the premium content from Pixar, Disney, the Marvel Cinematic Universe and about 30 seasons of the Simpsons launched yesterday and sent Disney’s stock soaring. Initially, many users couldn’t access the streaming platform. And this is why you have load balancers. SMH another...
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India’s Tata Group Seeks BMW and Geely Partnership to Share Development Costs

The Tata Group has approached both BMW AG and the Geely Group in its hunt for partnerships to share some of its financial burdens. According to a recent Bloomberg story citing people familiar with the situation, an unconfirmed partnership in the global automobile industry is in the offing. Current reports have it that the Jaguar...
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Tencent to Lose Billions and Significantly Fall behind Alibaba Following NBA Streaming Mishap

Photo: QuoteInspector Tencent Holdings Ltd, one of China’s biggest firms, generally has its hands in a little bit of every pie including gaming and sports. However, it would seem like there are dog days ahead for the giant firm, following a simple tweet in support of protests in Hong Kong. Back in 2018, Tencent successfully...
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Amazon Is Launching New Grocery Store Brand Next Year

Amazon has promised to make a new grocery store totally different from Whole Foods and Amazon Go stores.  E-commerce retailing giant Amazon is planning to expand its reach in the food industry and open a new brand of grocery store. As CNET has reported, a new grocery store will be opened in Woodland Hills, California,...
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Apple Plans a Product Shift by Launching Its AR Headset in 2022 and AR Glasses in 2023

Apple is currently building up its resources to launch its augmented-reality headset in 2022 and AR glasses by 2023. After dominating its smartphone industry with its iPhone for a decade, tech giant Apple is exploring a new product line for the next phase of the technological revolution. Over the last decade, Apple scaled tremendous heights...
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Japan’s SBI Holdings Forms Alliance with Fukushima to Use Ripple’s MoneyTap

SBI Holdings and Fukushima Bank formed a partnership that will see the reduction of operational costs and contribution to “regional revitalization.” Japanese business and financial services company SBI Holdings Inc. has announced its decision to form a capital and business alliance with Fukushima Bank, to achieve several goals including increasing profitability for financial institutions in...
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Swedish e-Scooter Firm Voi Technology Raises $85M in a Bid to Reach Profitability

Swedish E-scoter firm Voi has reportedly raised about $85 million in its second funding round in 8 months. The funds will be used to ramp up work on its kick scooters as well as software development. In what has come as a shock to many pundits in investment circles, electronic scooter firm Voi Technology has...
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Saudi Aramco to Offer Less than 1% to Individual Investors in Its IPO

Saudi Aramco has indicated in its prospectus that less than 1% of its shares are available for retail investors in its upcoming IPO. In what seems like a preference for institutional investment, Saudi Arabia’s State Oil Company Aramco in its prospectus has indicated offering of less than 1% of the shares on offer to individuals...
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Salesforce Develops New Content Management System

Salesforce has created a new content management system that can be integrated with the company’s products and third-party systems as well. In what seems to be an innovation, customer relationship management solutions company Salesforce has built its content management system. Reports indicate that the content management system was developed in-house rather than purchased by the...
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Bitmain Co-Founders Prepare for Legal Battle Against Each Other

Bitmain is going through a power struggle between its main founding members. Jihan Wu told Bitmain’s staffers that Micree Zhan was being laid off. Zhan said he was ousted without consent and is prepared for a legal battle. Bitmain Co-Founder Micree Zhan was recently forced out of the firm without any consent or prior knowledge....
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Xerox Puts Forward a Takeover Offer to HP Valued at $27 Billion

With a massive funding commitment from a banking giant, Xerox is planning to take over HP which is three times its size. In what can turn out to be one of the biggest takeovers, Xerox has put forward a cash-and-stock offer for computing giant Hewlett Packard. The latest report states that both companies are looking...
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Horrible Bug in Robinhood App Enriches Traders with Excess Funds

The mobile application for trading shares called Robinhood has a dangerous exploit that allows traders to raise money out of thin air. The Wall Street Bets, a Reddit branch dedicated to stock trading, is full of hot discussions around Robinhood. Traders were using the broken leverage system in the app to gain unbelievable profits. During...
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Innovative Card Issuer Deserve Obtains Goldman Sachs Support in $50M Investment Round

Cloud platform and CaaS banking provider Deserve helps corporations to develop customized cards and special loyalty programs. Deserve offers a set of modern services, including setting up the credit card via mobile app in minutes, sending money with unique fees, participating in cashback programs, and much more. Currently, the platform is used by more than...
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Uber Stock Tumbles as Company Reports over $1 Billion in Losses

Uber has released reports for its third quarter which, unsurprisingly, still records significant losses. Apart from the popularity of its ride-hailing services, Uber is also very well-known as a market player all over the world and especially in the finance sphere for its continuous and rising loss over the years. Recently the company announced a...
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Facebook Introduces New Company Logo as Part of Its Rebranding Efforts

Facebook’s rebranding efforts come as part of the company’s decision to distinguish the company operations from all of its products and services. Social media giant Facebook has unveiled its new company logo as part of the rebranding efforts. Facebook says that the new branding strategy is to bring more clarity and align the goals of...
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With Google’s Support Fitbit Might Catch Up to and Overtake Apple Watch

Will Google’s backing be enough for Fitbit to significantly overtake Apple in the future? Google’s parent company Alphabet has revealed that it will be purchasing popular wearables giant and smartwatch maker Fitbit, in a deal that will be closed soon. Worth $2.1 billion, many analysts agree that this deal has all the makings of a...
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Warren Buffet’s Profits Receive Enormous Rise despite Market Uncertainty

According to the report published this week by Warren Buffett’s Berkshire Hathaway, they have repurchased its stocks and registered huge quarter profits. Warren Buffett and his company had their total capital rising to a record of $128 billion during Q3 2019, сovering all the losses and showing the company has some great risk management tools....
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Steve Easterbrook Fired as McDonald’s CEO over Unsanctioned Relationship with Employee

McDonald’s CEO Steve Easterbrook was fired due to his relationship with an employee, which doesn’t meet the principles of the company’s policy. A bitter end has resulted from something that could have been termed beautiful in certain quarters, a consensual relationship between a boss and an employee. But in the case of former McDonald’s CEO,...
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Co-Founder of Satoshi Nakamoto Institute Blasts Warren Buffett for Hoarding $128 Billion

Warren Buffett’s Berkshire Hathaway is sitting on a massive cash stockpile. Pierre Rochard criticizes the billionaire investor for his strategy of waiting for the value of the U.S. dollar to rise. According to Rochard, Buffett’s strategy is no different from bitcoin HODLers. The Oracle of Omaha, Warren Buffett, has been recently grabbing headlines because of...
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World’s Largest Oil Producer Saudi Aramco Files for an Initial Public Offering

The shares of the world’s largest oil producer Saudi Aramco will be traded on the local exchange Tadawul starting December 2019. Saudi Aramco, the world’s largest and state-owned oil producer of Saudi Arabia, has announced its plans of Initial Public Offering (IPO) on Sunday, November 3. This is likely to be the largest ever initial...
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Launched Today Apple TV Plus Is to Compete with Disney+ In Streaming Wars

Apple TV Plus launched on Friday for $4.99 per month with only four original shows and no library of licensed content. Long-awaited Apple’s TV streaming service Apple TV Plus is finally live and you can start watching it on any platform that offers the Apple TV app, including iPhone, iPad, Apple TV and support non-Apple...
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General Electric Demonstrates Strong Q3 Earnings as Stock Price Surges Northwards

GE has shown good signs of resurgence and recovery. The company performance across power and aviation division has also improved significantly. American multinational conglomerate General Electric has brought new hope for its investors after its announced strong Q3 results. GE has been struggling over the past three years witnessing a major slowdown in its output....
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Binance.US Exceeds $15 Million Daily Trading Volume One Month after Launch

The U.S. arm of Binance has not only achieved an incredibly daily trading volume but also has increased token listings from 7 to 24 tokens. In September, one of the world’s most popular cryptocurrency exchanges Binance launched its U.S. arm, initially allowing U.S0. citizens to trade 13 cryptocurrency pairs across Bitcoin (BTC), Bitcoin cash (BCH),...
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Apple Announces Fourth Quarter Earnings as ‘Highest Q4 Revenue Ever’

While figures on Mac and iPhone sales continue to decline, Apple keeps on increasing revenue figures and percentages in other parts of its business. Apple has published an official report, detailing its earnings for the fourth quarter of its fiscal year which ended on September 28, 2019. According to the report, Apple reasonably exceeded analysts’...
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PSA Group and Fiat Chrysler Automobiles to Create the World’s Fourth Largest Carmaker

Peugeot and Fiat Chrysler confirmed their intention to merge, in what would be a 50-50 share swap and create the world’s fourth-largest carmaker. Rival carmakers PSA Group and Fiat Chrysler Automobiles NV announced their plan to merge, combining assets in order to confront pricey new era of trade tariffs, emissions rules and electrification. Shareholders of...
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New Apple’s iPhone 12 Line Could Finally Get 5G Modem Chips in 2020

It is expected that Apple’s three 2020 iPhone flagships will have advanced 5G modems designed by Qualcomm. In order to hold a throne of the world’s most innovative tech company, Apple is detected to deploy providers in order to make its first-ever 5G iPhones next year (“innovative” obviously doesn’t have the same meaning for Apple...
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Facebook Shares Jump in Response to Impressive Third Quarter Earnings

Facebook has just posted figures for its third-quarter earnings, showing that the company exceeded analyst’s predictions for most categories. Facebook is one of the most attacked companies in the world as it always seems to be swimming in one legal or regulatory battle or the other (especially in relation to its Libra project), at pretty...
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