GM Acquires 11% Stake in Electric Truck Startup Nikola for $2 Bn
Chevrolet maker General Motors has signed a partnership deal for a $2 billion equity stake in electric truck startup Nikola. The deal will give GM an 11% stake in Nikola. [...]
SoftBank Teams up With Reliance for TikTok India's $3 Billion Business
SoftBank Group Corp is reportedly looking for partnerships with local players in India, planning to buy TikTok India. The bidders' group in talks with SoftBank includes Mukesh Ambani's Reliance Jio [...]Rolls Royce Announces 2 Breakthroughs in AI Ethics
Rolls Royce has announced two breakthroughs in Artificial Intelligence (AI) ethics which will help build the trust gap towards technology and accelerate the fifth industrial revolution. The breakthrough will provide [...]Virgin Atlantic Plans 1,150 More Job Cuts
Virgin Atlantic plans 1,150 more job cuts despite approval of a private-only $1.6 billion rescue plan. The latest job cuts add to the already 3500 job losses reported during the [...]
India Blocks AliPay, TaoBao and 116 Chinese Apps Over Sovereignty Concerns
On Thursday, India blocked 188 mobile applications over concerns that they engage in activities that are prejudicial to sovereignty, integrity, defence, the security of the state and public order of [...]Rocket Internet to Delist From German Luxembourg Bourses as Stocks Tank
Rocket Internet, a major investor in Jumia, will cease trading publicly in the Frankfurt and Luxembourg stock exchanges after its stock price fell by 13% in 2020. The startup incubator [...]Zoom Revenues Grow 355% to Hit $663.5 Million in Q2 2020
Revenues for videoconferencing app, Zoom, have grown by 355% year on year to hit $663.5 million in the second quarter of 2020, as the coronavirus crisis continues to push for remote working. [...]Weekly Deals Digest; Aug 19th – 25th 2020
In this third issues of the Weekly Deals Digest, we cover the deals in emerging markets like Argentina, India and Mexico. We also have tidbits from Africa and the rest [...]Walmart Partners With Microsoft in TikTok Buy, Eyeing New Ad Revenues
Walmart confirmed that it would join Microsoft to bid for Tiktok's purchase in a deal that would boost its e-commerce strategy, giving it leverage against Amazon. If the bid succeeds, [...]Global Markets Report
The United States stock markets were mixed at the closing bell on Thursday after hitting record highs on Wednesday's trading session. The Dow Jones Industrial was up 0.57% with Walmart [...]Rolls-Royce Reorganization Saves £ 1.3Bn
The impact of the COVID-19 pandemic on the whole civil aerospace industry worldwide is unprecedented and a global issue. Rolls-Royce has taken swift action to deal with the sudden short-term [...]Global Markets Brief
Salesforce Stock Surge on Strong Earnings Salesforce Inc shares rose by as much as 25% on Wednesday to hit an all-time high of 277.90 per share following positive earnings growth [...]
