Tag Archives: Business

With the Harbor acquisition, BitGo becomes the first firm in the crypto space wherein a single company holds broker-dealer, transfer agent, and qualified custodian licenses.BitGo, the popular crypto custodian services provider plans to expand its footprint in the crypto market by undertaking new services. As part of its expansion plan, BitGo has acquired a security token platform dubbed Harbor.This announcement came on Tuesday, February 18, however, the terms of the deal were not disclosed....

Berkshire Hathaway has added Kroger to its long list of investment stakes. Warren Buffett’s company has purchased nearly 19 million shares of the retail giant. BRK.B is up.Big business is almost always filled with investments and acquisitions. These investments are strategic by companies that believe the move will do wonders for their overall business. While the reason for the specific reasons might not always be known to the public, it is always interesting to see the choices. Another...

Favipiravir has become one of the drugs that the Chinese authorities approved for treating the new COVID-19 strain of the coronavirus.According to a Reuters report, China’s National Health Commission is optimistic about a resolution for the raging coronavirus. The report says that a spokesman for the Commission Mi Feng said that efforts from the authorities are yielding results. The Commission also says that at least 1,425 infected patients have been cured and discharged. As part of these...

Cathay Pacific Airways expects a significant drop in its H1 2020 results and has also cut capacity due to the coronavirus fears. Severe travel restrictions as a result of the virus outbreak have led to a rise in flight cancellations.Cathay Pacific Airways said on Monday it is expecting a critical fall of its first-half results because of the epidemic of the coronavirus.The airline stated it cut capacity by 40% for February and March. Moreover, the figures for April will be reduced as well. In...

General Motors has announced it will be ceasing its operations in some international markets and concentrate on the profit-making regions. GM stock hasn’t reacted significantly.General Motors (NYSE: GM) through its official website on February 16, 2020, announced it will accelerate its transformation of the international markets. The transformation will entail ceasing all operations by 2021 at Holden in Australia. In addition, the company is in talks with the Chinese company, Great Wall...

German-based mobile banking giant N26 last week left its customers really angry and dejected after it announced that it would be leaving the United Kingdom due to Brexit.As part of its decision to leave the European Union, foreign firms in the United Kingdom have lost their operating license and thus are forced to leave. Among them is German-based online bank N26 whose decision to leave the country due to Brexit left a bitter pill in the mouth of its teeming customers who now feel betrayed...

Tesla (TSLA) stock is rising above $800 after hours. Elon Musk is looking for employees to join the Solar Roof team as the company is ramping up the installation of such roofs in the U.S.Tesla’s CEO Elon Musk recently gave an ad searching for workers.https://twitter.com/elonmusk/status/1228849721013346304Be it as it may, the truth is that even with a record fourth quarter for its solar energy and storage systems business, Tesla’s energy revenue fell by more than $24 million in 2019.Now, the...

Xiaomi Mi 10 and Mi 10 Pro 5G phones have been in China. They were expected to make their European debut on February 23 ahead of the big MWC phone show in Barcelona but it was canceled over concerns with the spread of the coronavirus.The fourth-biggest mobile phone producer Chinese Xiaomi launched its new 5G-capable Mi 10 and Mi 10 Pro flagship smartphones. This is a try to recuperate its sales that were declining in the home market for a while. However, the company is going pretty well in...

Nissan stock has fallen to the lowest level in 10 years as the company has reported its earnings and is still under the pressure of the scandal surrounding former chairman Carlos Ghosn.Japanese automaker Nissan Motor Co. reported its operating income for the three months ending on December 31, 2019, amounted to ¥22.735 billion (around $207 million), significantly lower than market estimates and falling 78% on an annual basis.Net sales for the third fiscal quarter declined 17% to ¥2.5 trillion...

RBS impressed investors by beating analysts’ profit expectations by around £400m despite subdued growth in the UK economy. RBS stock is quite unstable these days as the company is planning to change its name to Natwest.New Chief Executive of Royal Bank of Scotland Alison Rose disclosed new plans of action for the taxpayer-backed bank on Friday. What is interesting that she added severe cuts on the size of its loss-making investment bank. She also decided to rebrand the company to NatWest.Back...