Tag Archives: Business News

Manchester City, the champions of the English Premier League have struck a big deal recently. The owner of Manchester City has agreed to liquidate just over 10% of the stake in Manchester City to a private equity firm Silver Lake.City Football Group (CFG), the holding company of Manchester City is currently valued at $4.8 billion, and the deal has been concluded for a price of $500 million. As per the Financial Times report, CFG is an Abu Dhabi-controlled organization that owns Manchester...

After a first, well. we could gently say – shock, Tesla’s Cybertruck doesn’t stop being controversial in any sense. This week is obviously reserved for Musk & Co. boasting around Twitter of how great and wonderful their new vehicle is (except the window glass but that will be repaired – Elon promised). And it’s worth mentioning that Tesla stock reacts positively (but slightly) to all this noise around the company.The distinctive Tesla’s CEO Elon Musk said how the company’s forthcoming...

Commodity markets dictate the global trade of primary manufactured products, from cocoa to gold and from sugar to oil. As these tangible good cross the vast oceans, borne along by capacious container ships, trading platforms flicker with the constantly moving prices of these assets, whose real-time market value is dictated by the usual forces: supply, demand, sanctions, geopolitical relations, currency rates and the array of other variables that can dictate the final price paid for containers...

On Monday, the stock market reached new highs: the Dow Jones Industrial Average gained 190.85 points (or 0.68%) and achieved 28,066.47 by the end of the day, the Nasdaq Composite increased by 1.32% up to 8,632.49, while S&P 500 gained 0.8%. The biggest gains have been made by technology and health care companies. Such companies as Amazon, Apple, Netflix, Intel, Alibaba, Tesla, Disney, and more have enjoyed growth in stocks. For example, Intel rose 2%, Amazon gained 1.61%, Gilead Sciences...

Amazon CEO Jeff Bezos, one of the world’s richest man, has been criticized once again for not doing enough with tax payments. The CEO announced a $98.5 million donation to 32 different organizations in an effort to tackle homelessness and also improve the quality of education in low-income communities, as part of his Bezos Day One Fund. Even though Bezos has also been criticized for also not doing enough with philanthropy, this recent donation didn’t do much to calm one of his most outspoken...

MiddleGame Ventures (MGV) that is a fintech-focused investment company announced on Monday that it had managed to raise assets for the new fund aimed at providing support to startups in Europe and North America.As per the announcement, MGV’s Venture Fund I reached its first close with the last target size attaining $165 million.The fund is going to enter into partnerships with both B2B and B2B2C startups and, of course, it will invest in them. The main goal is to get the transformation of...

Fintech startup Ualá which is a finance app that helps people with all things financial has just finished its Series C funding to the tune of $150 million. This round was led by Tencent and Softbank’s Innovation Fund which has as its specific aim the Mercursour region. The app functions very much like Monzo, Nubank and Revolut but this time the focus of this app is on the Argentine market without the trappings and requirements of financial institutions and regulations. With its CEO Pierpaolo...

For more than ten years, different identity thieves, online hackers, and scammers have formed a black market and traded with other people’s data, account numbers, social security numbers, etc. In October, dark web researcher Vinny Troia discovered a similar package that was just sitting there, exposed and non-secured in any way. And it’s worth mentioning that Facebook users (though not only) have suffered once again.The block had 4 terabytes of personal info hidden in approximately 1.2...

Uber Technologies Inc. has had its fair share of woes since its initial public offering (IPO) some months ago in May as it has not been profitable ever since. Now, the ride-sharing company is about to fall deeper into its problems as it has lost the license to operate in London, after several issues.Now Uber is a long way down from its $45 IPO price in May. At the moment, UBER is trading just under $30, representing a 33% loss in about six months. The level is the end result of a 6.3% loss in...

Multibillion-dollar luxury brands owner LVMH has reached a deal to acquire Tiffany & Co for $16.5 billion. Sources indicate that the luxury brand owner has finally gained the acceptance of this present deal for acquisition after both boards have approved it.LVMH is known globally for ownership of some of the world’s most luxurious brands which include Louis Vuitton, Christian Dior, and Moët & Chandon among 75 others commonly referred to as the “Maisons” or houses. LVMH has further...