Tag Archives: Market News

While this may come as a surprise to many but the less known and less trendy Pinduoduo has overtaken the upscale internet retailer JD.com both in share price and valuation. The share price rose on NASDAQ more than 12% to $39.96 giving it a market capitalization of $46 billion ahead of JD’s $45 billion. This makes Pinduoduo the 4th largest internet Chinese company whose shares are listed in another country with Meituan at $65.572 billion, Tencent at $385 billion, Alibaba at $449 billion. This...

Chinese President Xi Jinping announced support for blockchain last Thursday. The news was welcomed by the crypto community as Chinese altcoins such as NEO, TRON and Qtum skyrocketed over the weekend. Analysts believe that there’s more to the hype and speculation that powered the move of Chinese coins in their USD and BTC pairs. Chinese President Xi Jinping announced on Thursday that his country should “take the leading position in the emerging field of blockchain,” according to a...

LVMH, the French multinational luxury goods company and owner of the Louis Vuitton and Givenchy brands, has made an official offer to acquire Tiffany & Co., the popular American luxury jewelry retailer. LVMH hopes to expand its business, by taking a direct dive into the United States markets for luxury fashion items and has chosen to do this through Tifanny.According to a Bloomberg report, LVMH is offering $14.5 billion for the acquisition which was noted by certain people who are privy...

Everybody is familiar with the name of Bill Gates — an American business magnate, the founder of the world’s largest software business Microsoft, and the second richest man in the world. What is the key to his raving success and how can you receive high money if all you have is $10,000? The answer is in our article.Since the establishment of Microsoft in 1975, Gates has held several positions including those of the chairman, CEO and chief software architect. As early as 1987, he was ranked...

Recently, on Friday, the U.S. Department of Defense (DOD) made it clear that they had chosen Microsoft over Amazon in their $10 billion cloud computing contract, also known as JEDI. With this contract, the Department of Defense will move its database to the cloud. However, this has left Amazon Web Services wondering as they were considered as leaders in the field, and the most likely winner of this contract.“We’re surprised about this conclusion. AWS is the clear leader in cloud computing,...

On Friday, an American automotive and energy giant Tesla announced it had rolled out a new version of its solar roof tile for use at residential homes, V3 Solar Roof. According to Elon Musk, installations will begin in the upcoming weeks, with 1,000 new roofs expected to be produced per week.Tesla first came up with their Solar Roof Tiles in 2017, and the volume production was set to start in 2018. However, the process turned out to be quite slow, and the production was delayed until this...

Photo: FordNearly a year and a half ago, Ford embarked on a mission to invent its first peek of a Mustang-inspired electric. And after several attempts, it’s now prepared to show the globe what “Mustang-inspired” actually entails.The company announced that it would launch the electric SUV on 17th November just before the LA Auto Show.By now, little is known regarding the electric SUV that’s hitting the market year. Besides issuing frequent hints or teaser images. The latest launched webpage...

Google announced its first Stadia Games and Entertainment studio in Montréal on Thursday. Games chief Jade Raymond revealed that the new studio will focus on producing “exclusive, original content.”The Google VP explained ways in which the tiered party structure for Stadia games will develop. These “spectrum of bets” are recognized by how much they are using features that are only possible with Stadia’s cloud-based platform.She said:“We have a plan that includes building out a few different...

Ark Investment Management founder and CEO Catherine Wood commented that huge jump in Tesla’s stocks that began yesterday after the company released its earnings is just “the beginning of an eventual rise to $4,000 per share and possibly beyond.”And she might be right, because, even though the earnings were nothing special, they were still better-than-expected and at the stock ended yesterday trading with a rise of 17.67% to $299.68. However, at the time of writing, the stock was in a slight...

Lately, an American real estate company that provides shared workspaces for technology startups WeWork has been experiencing hard times. Because of the crisis, the firm abandoned its IPO plan, forfeited its CEO Adam Neumann, and found itself on the brink of bankruptcy. When WeWork gave up all hopes of survival, a Japanese multinational conglomerate SoftBank stepped in and made an attempt to save the firm with a capital infusion of about $8 billion. As we have reported, Softbank provided the...