Tag Archives: Business News

Chinese e-commerce giant Alibaba is making swift moves to list its shares on the Hong Kong Stock Exchange. However, amidst high demand, Alibaba has planned to close its books early for institutional investors, reports CNBC.As per the report, the e-commerce giant plans to close its books by 12 PM ET on Tuesday, November 19. The sources familiar with the matter said that the book’s closure will happen half-day before the earlier schedule. This is clearly indicative of the fact that investors...

XRP falls by 5.31% to hit $0.25 indicating weakness and trading apathy, even when Ripple Labs Inc has added another feather to its cap by adding a new remittance service on RippleNet. SBI Ripple Asia and SBI Remit, which is a financial services company in Japan, are set to introduce a new remittance that will enable customers to transfer money between Japan and Vietnam. The new service is set to operate using RippleNet, and the Vietnamese baking giant TP Bank (Tien Phong Commercial Joint...

An ex Paypal official complained that Bank of America has notified him of shutting down his account soon without any explanation given. Actually, the bank did say it “carefully reviewed his banking relationship”, whatever that supposed to mean. Former Paypal’s CFO Roleof Botha said he was utterly surprised when he saw the notification about closing down his account. And, not just that, Bank of America was so kind so it gave Botha 30 days to “take his money and run”.After being a customer of...

In recent news, OPay has raised $120 million on a series B round backed by Chinese investors. Their primary initiative for the fundraise is to scale in Nigeria and expand its payments service to Kenya, Ghana and South Africa. The series B round investors, as mentioned above, were mainly from China. The companies include Meituan-Dianping, GaoRong, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital, Sequoia China, and GSR Ventures. In June 2019, OPay also raised $50 million.Opera,...

Japanese multinational conglomerate holding company SoftBank has announced its decision to unite its search engine Yahoo Japan with a popular chatting app Line owned by Naver Corp. Within the agreement, Yahoo Japan and Line will merge and create a joint business to develop new opportunities for protecting themselves against competitors.According to the announcement, SoftBank and Naver will each hold 50% of a new holding company that will operate both Line and Z Holdings (Yahoo Japan’s...

As an automobile, Ford’s Mach-E comes with the style, logo, and design of the famous Mustang but everything else under the hood makes it seem more like a Tesla or another electric vehicle. With a range of 210- 300 miles at full charge and accelerations that range from beating high-end sports cars to mid-level sedans, the first set of Mach-Es will be available in late 2020 to the spring of 2021.Although pricey with the cheapest one starting at $43, 895 which is a little bit more expensive than...

Microsoft co-founder Bill Gates has taken over Amazon founder Jeff Bezos as the world’s wealthiest person. The Bloomberg billionaires index, which tracks the net worth of the world’s wealthiest, has indicated that Gates has overtaken Bezos based on an over 40% increase in his 1% stake in technology giant Microsoft and his investments in his family office Cascade. For the first time in two years, Gates has taken over the top spot after reports emerged that the United States Department of...

Famous cryptocurrency website Cointelegraph announced on Friday it is launching its own consulting allotment in order to enable the biggest companies to adopt blockchain as such. With that in mind, Cointelegraph plans to focus on thoroughly chosen blockchain participants that will be able to fulfill any promises they might eventually give to selected enterprise players.However, the whole selection process will not be that simple. There is already a huge criteria combo that they will have to...

Leading financial services company Alipay has indicated that it will enable 10 million European small and medium enterprises to be able to reach more than 2 billion customers which come from all corners of the world to Europe. Alipay intends to do this within the next five years. The payment service indicated this yesterday at the Alipay Partners Global Summit which held in London. It also expanded its partnership with Worldline which is its principal acquirer in the region and also...

In what has been a series of woes for a British icon, Aston Martin, which has been one of Britain’s most successful automakers in its heyday, has been unable to get its act together after its October 2018 Initial Public Offering (IPO). Best known for being the favorite of Ian Flemming’s James Bond when it comes to cars, the holding company Aston Martin Lagonda Global Holdings Plc hasn’t fared that well since last year.With its current premier brands (Vantage, DBS, and DB11 Volante)...