Tag Archives: Business News

Ripple’s Xpring initiative XRPL Labs is getting ready to launch its Xumm banking application. The app will allow users to store fiat and digital currencies in the wallet account, without any intervention from banks. In other words, Xumm offers banking services without banks getting involved.Xumm banking application is powered XRP, the token that is widely used in Ripple’s solutions. Notably, it will be available for all kinds of users. Easy to use, the app requires no special knowledge with...

Dutch multinational conglomerate Philips is planning to review its portfolio as per the latest reports. On Tuesday, Bloomberg reported that Philips is considering the sale of its Home Appliance Unit Royal Philips NV.This domestic appliances division of Philips registered $2.6 billion sales last year selling coffee machines, air purifiers and air fryers. While reviewing its future options, Philips said that carving out this business from its portfolio will take another 12-18 months.Philips CEO...

Recently, the UK fintech startup Currencycloud ran a series E funding round. Among the participants were Sapphire Ventures, Notion Capital, Anthemis, Accomplice, and Google’s venture wing GV. All of them supported Currencycloud earlier. Besides, the startup boasted it had attracted new investors. Visa, World Bank arm International Finance Corporation, BNP Paribas, Siam Commercial Bank and former Softbank spinoff SBI Group joined the round and invested as much as $80 million.The round has...

The leading manufacturer of office equipment Xerox is officially launching a hostile takeover to acquire computing giant HP. According to Xerox, the company will start with nominating 11 independent candidates during HP’s annual stockholders’ meeting in April. If elected, the new board will make it easier for Xerox to acquire the PC manufacturer.The decision to play hard resulted from HP’s rejection of Xerox’s takeover bid. The price at which Xerox valued HP made up $33.5 billion. However, HP...

Tesla CEO Elon Musk has been tipped to break the trillionaire threshold before Jeff Bezos, Bill Gates or any other contemporaries following Tesla’s recent landmark in breaking the $100 billion market cap level after skyrocketing rise of the company’s stock price.Should We Be Getting on the Musk Train?Elon Musk rests rightly as one of the biggest celebrity entrepreneurs in the world and has amassed an enormous cult following over the years. Fanatics are at their constant best with bullish...

On Wednesday, it got about that American online payments company PayPal had partnered with UnionPay International (UPI), a subsidiary of the Chinese leading payment processor UnionPay. For both companies, the deal is a good way to expand their networks and penetrate into new markets.Jim Magats, senior vice president of global payments at PayPal, commented:“At PayPal, we are proud of this landmark agreement with UnionPay International and the global impact that this creates for our joint...

In an interesting turn of events, Amazon is seeking a court injunction against Microsoft. Amazon wants the courts to prevent Microsoft from continuing with the popular Pentagon cloud project until all related cases are resolved.Amazon Looks to Stop MicrosoftIn October last year, the U.S. Department of Defense (DoD) announced that it will be awarding Microsoft with the Pentagon contract. Called the Joint Enterprise Defense Infrastructure (JEDI), the project is worth $10 billion. At the time,...

As it has become known at the World Economic Forum (WEF) in Davos, the top organizations of the planet will join Refinitiv’s alliance to be able to research and edit the investment markets. Governments and corporations usually invest using the consensus of decisions of top officials. So basically, investment is a form of art. Now it is time to take a step into the future by turning data gathering into the science.David Craig, Refinitiv CEO, noted:“The need to channel capital towards the UN...

It seems Tron Foundation CEO Justin Sun got serious. After he made himself unpopular after all this story with a billionaire Warren Buffett, it seems he found another guy.Apple’s co-founder Steve Wozniak obviously has a belief in Sun because the two guys met over lunch. Wozniak even shared this news with his followers on Twitter.And it’s not surprising at all that Sun has reacted for a tweet about this legendary meeting.It was an honor meeting the legendary Woz, @Apple co-founder! Looking...

In 2018, a 15-year girl from Sweden made the world reel. The girl began spending her school days outside the Swedish parliament and called for stronger action on climate change. Her active position and straightforward speeches quickly made her famous. Now this girl, Greta Thunberg, is one of the most hotly discussed youth activists who sparked an international movement to fight climate change.After Greta delivers a speech at various forums and conferences, everyone and his brother discuss her...