OneConnect, China's Fintech Firm, Files for U.S. IPO
SoftBank-backed OneConnect Financial Technology has filed for an Initial Public Offering (IPO) with the U.S. Securities and Exchange Commission. According to China Daily, the proposed IPO will raise up to [...]
Nike Stops Selling Products Through Amazon After End of Pilot Program
Nike will stop selling its shoes and apparel through the Amazon website after its two-year partnership ended. The company will now focus on direct sales to consumers through its in-house [...]Alibaba's Singles Day Sales Hit $38 Billion
Retail Giant Alibaba marked the end of Singles day with sales of $ 38.4 billion, breaking its last year record of $ 30.7 billion. The e-commerce platform mostly sold electronic [...]Whatsapp Launches a Catalogue Feature for Small Businesses
Whatsapp business has launched a catalogue feature in its business app, which will allow small businesses to showcase their products and to add useful information such as pictures, product descriptions, [...]Alibaba Targets $15 Billion in Hong Kong Listing
Chinese retail giant Alibaba is looking to list on the Hong Kong Stock exchange later this month. According to Thomson Reuters, the e-commerce conglomerate is targeting about $15 billion, a [...]US and China to Cancel Tariffs in Phases
The United States and China have agreed to cancel tariffs imposed on each other's goods in phases. This will happen even as they work toward a permanent trade deal agreement. [...]Uber's Third Quarter Earnings Increase, Expects Profit in 2021
Uber's third-quarter revenue improved to $ 3.8 billion compared to $2.9 billion posted in a similar period in 2018. The current performance beats analysts expectations, earning as $3.81 billion as [...]British Airways Set to Buy Air Europa for $1.1 Billion
British Airways is set to buy Air Europa for $1.1 (KSh113.3) billion. Acquisition of the private Spanish airline is a move that seeks to turn Madrid's airport into a global [...]Ryanair Pushes Boeing 737 Acquisition to March 2020
Ryanair has postponed its acquisition of Boeing 737 MAX planes to March 2020. This will be two months late than its initial forecast of January 2020. The move is expected [...]German Banks Push for The Digital Euro
The Association of German banks has written a paper requesting for a universal digital currency across the Eurozone. The banks argue that Facebook's Libra poses questions towards the future of the global [...]Saudi Aramco,World's Largest Oil Company, to Go Public
Saudi Aramco, Saudi Arabia's giant State Oil Company has kickstarted plans to issue its shares to the public. The move aims to diversify the country's economy and move away from [...]Google Acquires Fitbit for $2.1 billion
Fitbit is now part of Google after the search giant bought the device manufacturer at $2.1 billion. The acquisition will drive Google deeper into the wearables business even as consumers [...]
