Tag Archives: Story of the Day

Deutsche Bank has embarked on a comprehensive restructuring plan, in a move to revive its failing business, according to reports from earlier this year, but recent events show that its program may not be going as expected. Deutsche Bank took a devastating financial blow which has totally derailed it from its intended market target.Surrounded by an ongoing restructuring plan, the German lender has released its third-quarter report for 2019 on Wednesday, which shows a net loss of 832 million...

Even though there’s currently no official word from the company, it has been reported that China’s Bitmain Technologies – one of the largest crypto mining manufactures in the world – has secretly made an official application with the United States Securities and Exchange Commission (SEC), to float an initial public offering (IPO). The move is also said to be fully backed by a German multinational financial services company, Deutsche Bank.Because it is supposedly a secret filing, there aren’t...

In what has been seen by many as a move into the fitness sector, Alphabet Inc. parent company of Google has been in talks with fitness device manufacturer Fitbit for the prospects of acquisition. Alphabet Inc. has been eyeing the wearable fitness device for some time and this could be a culmination of the innovative company’s intentions to get a slice of the fitness pie.Sources familiar with the matter indicate that while Alphabet is already at par with other device makers in terms of devices...

Ride-sharing giant Uber Technologies Inc. plans to foray into the payments and financial services market. Citing a massive opportunity in this sector, Uber announced a new division called Uber Money catering to the company’s debit and credit card offerings along with digital wallet facilities.Uber Money will first focus on providing services to its fleet of 4 million drivers and couriers across the globe. Peter Hazlehurst, the head of Uber Money said that the drivers will get a mobile bank...

It just over 7 years that social media giant Facebook decided to conduct an IPO. Since then, Facebook (FB) stock has been one of the favorite picks for investors looking for handsome returns.If we look at the Facebook stock price chart since May 2012, we can see a steady rise with minor swings until July 2018. It was in July last year when the Cambridge Analytica scandal broke out showing Facebook’s alleged breach of data and user privacy. The FB stock took a massive hammering losing 33% of...

Sir Richard Branson’s private space tourism company Virgin Galactic Inc. started its trading on the New York Stock Exchange (NYSE) via a direct listing at $12.10 on Monday under the ticker “SPCE”.The move comes after the Galactic merged with Chamath Palihapitiya’s venture Social Capital Hedosophia that gave the new company a combined valuation of $1.5 billion. Branson kept a 51% stake in the business.CEO George Whitesides said:“Virgin Galactic is making history again today as it becomes the...

Bakkt is currently looking to help its retail community to trade cryptocurrencies as seamlessly as possible. The platform has decided to do this with the launch of a consumer-focused app that will help these customers easily use this app for proper business interactions with several merchants, using digital assets. Starbucks that has already a history of cooperation with Bakkt will be the first merchant on the platform.According to an official Bakkt blog post, Chief Product Officer Mike...

TRON founder and BitTorrent CEO Justin Sun has announced a teaser to whet appetites in the TRON community about an announcement from him and the TRON foundation before October completely runs out. Taking to Twitter to post the teaser, Sun announced that TRON will enter into a partnership by next week, with a “hundred billion USD megacorporation.”#TRON will partner with a hundred billion USD megacorporation next week. It will not only benefit $TRX but all TRC10&20 tokens including $BTT...

Over the years, Facebook has had more than its fair share of problems that revolve around the privacy and authenticity of the content found on its platform. There have been many cases of reported breaches causing private data of many of its users to fall into the hands of others, without the users’ consent. There have also been stories surrounding the dissemination of a lot of false or harmful information and even advertisements, on Facebook.On Wednesday, during a biting hearing for...

Although China has introduced an absolute ban on cryptocurrencies in 2017, the country has been making major developments in the blockchain space. Currently, China holds the most number of patents in the blockchain sector, leading its rival U.S. by a considerable margin.In a move to dominate the blockchain industry, Chinese president Xi Jinping has urged the country to accelerate the adoption of blockchain technologies. In the future, the country with higher technological superiority will...