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Thursday, December 3, 2020
Japanese holding company, Softbank, has announced that it’s raised $250 million for urban transport scooter firm Tier during a funding round that was led by the company’s second Vision Fund. Investors in Softbank’s Vision Fund have been venture capital firm Northzone, UAE investment firm Mubadala, and Russian-founded...
Now that Ant Group’s record IPO has been suspended, Alibaba shares have been tumbling. According to stock exchanges in Shanghai and Hong Kong. Jack Ma, Controller of Ant Group, Erick Jing, Ant Group's Executive Chairman, and Simon Hu, CEO of Ant Group, found themselves summoned by Chinese...
Advanced Micro Devices (AMD) has agreed to a $35 billion deal with Xilinx. The all-stock transaction will give AMD an edge over Intel for the the data center chip market share. Intel has experienced internal manufacturing deficits, and AMD has been Intel’s chief competitor for CPUs, or...
On Thursday, one of the top subscription screaming services raised its prices. Netflix, headquartered in Los Gatos, California, will be raising premiums on its standard and premium level plans. The standard plan will now cost Netflix consumers $13.99 per month, an increase of $1 a month, while...
On Tuesday, shares for solar panel manufacturing company First Solar surpassed analysts’ expectations and rose 12 percent during extended trading. The shares surged after the company announced that its sales had jumped 70 percent in a year-to-year comparison during the third quarter.  First Solar’s...
The largest U.S. bank is now using its digital currency to send payments to commercial clients all over the globe. JPMorgan Chase’s JPM Coin is being utilized the first time during this week for commercial purposes to transfer and send money. Now, JPMorgan is creating another venture...
The nation’s top safety and industrial products company said that its third-quarter results had beaten analysts' expectations. The company said sales rose 6.9 percent in its Industrial and Safety division compared to last year. Earnings reached $3 billion and topped a $2.93 billion estimate from FactSet. The...
Netflix reported to its shareholders that its third-quarter growth wasn’t all that was hoped it would be. The media subscriber service at first had an uptick when the government issued stay-at-home orders. This made analysts optimistic about the company’s future quarterly growths. But earnings per share and...
Wells Fargo’s third-quarter earnings were disappointing, and its net interest income declined by 19 percent to $9.368 billion compared to the same period one year ago. Low-interest rates imposed by the federal government are said to be putting pressure on the banking industry. The FEDs have lowered...
Goldman Sachs crushed analysts’ third-quarter estimates and posted strong results in its asset management and bond trading divisions. Goldman exceeded the $5.57 share estimates and instead generated $9.68 per share or a $3.62 billion profit. Its companywide earnings fell $1 billion more than its...