Samsung announced on Tuesday a $205 billion expansion plan aiming to provide 40,000 jobs for the upcoming three years to reign “strategically important industries.” The conglomerate’s immense influence in South Korea has never been higher as it set out a recruitment scheme of roughly 10,000 people, in addition to 30,000 jobs already set into motion, […]
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Japanese operator Rakuten Mobile Inc. released on Wednesday its Q2 2021 financial report demonstrating a bursting operating loss increase of 85 percent year on year (YoY) amounting to $900 million credited to higher network-related expenses. Due to the semiconductor shortage, the firm’s costs soared as the network rollout was postponed for approximately three months. The […]
Softbank dropped $5 billion worth of publicly listed shares through its SB NorthStar trading unit of four tech giants during its first quarter, the Japanese conglomerate revealed in a financial report released on Tuesday. Back in 2020, the Tokyo-based multinational company vastly invested in social networking platform Facebook, Google’s parent company Alphabet, popular streaming service […]
Special-purpose acquisition company Athena Acquisition Corp. announced on Wednesday, alongside technology service provider Pico, definitive merger plans amounting to $1.75 billion. Pico Quantitative Trading – solutions provider to the financial market community – agrees to a merger with blank-check company Athena Acquisition, led by former The Bancorp CEO Betsy Cohen. The deal is set to […]
Asian stocks mostly rose Thursday after the Federal Reserve kept its accommodative monetary policies and signaled that economic recovery was on track. Chinese technology giants led the way, as authorities moved to soothe jitters over anti-monopoly and data security enforcement against the industry. Tokyo’s Nikkei 225 gained 0.4% to 27,687.28, while the Kospi in South […]
Robinhood, the online brokerage that found itself embroiled in this year’s meme stock phenomenon, will go public next week seeking a market valuation of up to $35 billion. The company said in a regulatory filing Monday that it hopes to price 55 million shares in its initial public offering in a range of $38 to […]
Popular Chinese grocery shopping app Dingdong has slashed its initial public offering by 74 percent on Monday, a mere three days following it’s rival MissFresh witnessed disappointing placements on Nasdaq. Many pundits and industry analysts have argued that the reason for Dingdong’s fall from grace is due to the cooling appetite of online grocery-based apps, […]
Technology companies helped lift stocks higher on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered. A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P 500 had been down 0.3% earlier amid another bout […]
The head of German pharmaceutical company BioNTech said Monday that there is no need to waive patents on coronavirus vaccines because manufacturers will be able to produce enough shots to supply the world over the coming year. Ugur Sahin, the chief executive of BioNTech, rejected the U.S.-backed proposal to temporarily lift some intellectual property rights […]
Shares skidded in Asia on Wednesday after Wall Street closed lower for a second straight day, led by drops in technology companies and banks. Worsening coronavirus outbreaks in Asia have cast a shadow over prospects for a rebound from the pandemic. Tokyo’s Nikkei 225 fell more than 2% and other benchmarks also declined. On Tuesday, […]