Tag Archives: Business News

Online shoppers in the United States seem to have made a new name for themselves as the last Black Friday event produced the second-largest sales in history next to last year’s Cyber Monday. Sources indicate that while the Black Friday Sales have been the biggest so far, “small business Saturday” has also gone up by 18% as against last years’ figures reaching $3 billion while Black Friday sales reached about $7.4 billion. But let’s not forget about the last year’s Cyber Monday sales that were...

These days many of us are wondering what has inspired Tesla for creating its Cybertruck. And there is an answer.Perhaps you had the chance to watch some of the top shows about ‘blind auctions’, ‘storage wars’ etc. It’s mostly about people buying a storage unit without knowing what’s inside. Usually, it’s a bunch of crap, but sometimes, people find some crazy things inside – and very worthy as well. Be it as it may, back in 1989, a couple from New York bought such a unit for around $100. It...

Update: Though it was informed by media that Coinbase which is one of the world’s largest cryptocurrency trading exchanges had acquired one of the most innovative digital assets brokerage firms Tagomi for the sum of $150 million, the exchange has denied this information.As Coinbase VP of communications Rachael Horwitz noted, all this news is “100% false.”Earlier sources indicated that a deal had already been in the works and it is only recently that both parties decided to finalize the...

Swedish fintech firm Klarna has become the undisputed champion in the fintech space. Sources indicate that the gains made his year alone has put the firm light years ahead of its peers and competitors. The e-payments firm has indicated that about 60,000 merchants have been added to its network and that it has created linkages with about 190,000 retail partners in addition to 16 million new users of the service as well.Moreover, it has emerged that the fintech firm is now worth about $5.5...

In a history-making move, popular e-sports team Astralis Group is aiming for the first e-sports initial public offering. Sources indicate that the Denmark-based top e-sports gaming company is aiming to conquer the e-sports market which currently worth about $1.1 billion. Sources also further indicate that the IPO based on the prospectus is set to raise between 125 to 150 Danish Kroner which is about $18 million to $22 million. The listing is scheduled for December 9 and it is said to take...

Jeff Bezos has unexpectedly become the world’s richest man again. This occurred largely due to a significant increase in U.S. online sales which has risen by 15.8 % as opposed to last year. Online retailers have made sales of about $50.1 billion this month alone so far. This, of course, has been reflected in the rising prices in Amazon stock which stands at $1,818.51 per share which indicates a rise of about 1.20% in the past twenty-four hours. Amazon’s stock has rebounded largely in part to...

Multinational banking and investment institution JP Morgan has expressed extreme confidence in the possibility that stocks in the Asian market will perform quite impressively as 2019 ends and 2020 begins. The company believes Asian equities are going to blossom, specifying that India and South Korea are fully set to take the lead.Speaking to CNBC on Monday, JP Morgan’s head of Asia ex-Japan equity research James Sullivan, said the JP Morgan camp is “bullish on Asian equities”, suggesting...

Popular stock-trading startup Robinhood has decided that it is no longer interested in becoming a federally insured bank. Months ago, the company applied for a bank charter with the Office of the Comptroller of the Currency (OCC), in an effort to become a fully-fledged bank but has now decided to shelve said plans.According to the statement, the company has taken this step to shift its attention away from banking to its own core business directed at improving the efficiency of the financial...

Vinted has recently finished its funding round led by Lightspeed Venture Partners, previous backers Sprints Capital, Inside Venture Partners, Accel and Burda Principal Investments. The startup raised a total of $141 million and reached a total valuation of $1 billion. Since the startup is from Lithuania, it is now the second unicorn startup coming out from the Baltics. Previously, an Estonian startup Taxify, which now has rebranded to Bolt had reached a valuation of $1 billion.The company...

Banking app Revolut has introduced a new feature that will allow many users to use the app just like any other bank account. The introduction of the direct debit feature for the UK pound has enabled users to be able to pay for goods and services with direct debit as it is becoming the norm for many businesses at the moment. Already Euro direct debit services were started last year. Many businesses prefer direct debits as card transaction fees and chargebacks are usually more problems than...