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McDonald's expands testing of 'McPlant' burger created with Beyond Meat

• McDonald's expanding McPlant trial to ‘understand customer demand' in US • McPlant burger uses a patty made from peas, rice, and potatoes to mimic the taste and texture of beef McDonald's Corp (NYSE...

By  Arghyadeep On  2022-01-20 22:19:00
Unilever refuses to increase 50-billion-pound buyout offer for GSK consumer arm

• Analysts expect a bid of over 60 billion pounds can win the backing of GSK's board • GSK R&D chief Hal Barron, who oversees drug development, to step down in August British multinational consumer go...

By  Arghyadeep On  2022-01-20 01:31:00
P&G earnings beat expectations as price increases, boosts its 2022 sales projection

• Net sale increases by 6% to $20.95 billion • Baby, feminine, and family care division sales amplify by 5%  • Fabric and home care product sales improve by 7 % Procter & Gamble (NYSE: PG) posted quar...

By  Ishika Dangayach On  2022-01-19 22:31:00
British digital banking startup Revolut launches app-based US trading platform

• Shares of Robinhood and Charles Schwab fell after Revolut announced the trading app • Revolut said nothing "would look or feel like gamification" in the app London-based fintech and digital bank Rev...

By  Arghyadeep On  2022-01-19 22:11:00
China prepares to draft escrow account usage rules to resolve the real estate sector’s cash crunch: Reuters

• The real estate sector's main regulator, along with the Financial Stability and Development Committee are drafting the new rules • Escrow accounts hold 50%-70% of developers' pre-sale funds To resol...

By  Yashasvini On  2022-01-19 22:03:00
Morgan Stanley reports higher Q4 profit due to robust equities trading revenue

• Profit rises 9.2 % year on year to $3.7 billion or $2.01 per share • Investment banking revenue increases 6% to $2.43 billion Morgan Stanley (NYSE: MS) reported higher-than-expected fourth-quarter e...

By  Ishika Dangayach On  2022-01-19 21:07:00
Microsoft to buy game developer Activision for $69 billion in push for metaverse

• Microsoft CEO said that about 3 billion people worldwide play video games, hinting at the market depth of the gaming industry • The deal is a 45% premium to Activision's Friday close Microsoft Corp ...

By  Arghyadeep On  2022-01-19 02:32:00
U.S. mortgage rates jump to the highest level since April 2020

• Mortgage rates rose this week • 30-year average crossing over 3.916% early this week, increasing from 3.74% a week ago U.S. mortgage rates rose last week, raising the 30-year rate to 3.7%, its highe...

By  Yashasvini On  2022-01-19 00:38:00
Ericsson sues Apple again over 5G patent licensing infringement

• Ericsson filed two lawsuits covering 12 separate patents • Apple has filed a lawsuit against Ericsson in December after the latter sued iPhone maker in October Telecom company Ericsson has sued Appl...

By  Arghyadeep On  2022-01-18 21:25:00
Pharma giant GlaxoSmithKline rejects Unilever’s $69 bln offer for Advil unit

• Glaxosmithkline's shares rose by nearly 3% after the announcement • Unilever's shares fell more than 8%, highlighting investors' doubts regarding the sale GlaxoSmithKline's (NYSE: GSK) shares rose b...

By  Yashasvini On  2022-01-18 02:26:00
Ford signs five-year deal with Stripe for e-commerce drive and online payment overhaul

• The deal is the part of Ford's turnaround plan under CEO Jim Farley • Ford will use Stripe to handle online transactions for vehicle orders and reservations, digital and charging services Online pay...

By  Arghyadeep On  2022-01-18 00:53:00
Amazon to continue accepting Visa credit cards in UK, drops its earlier plan

• It's not yet clear why Amazon retreated from its plan nor whether the decision is final or temporary • Many think Amazon to get some bargaining power over Visa to lower its fees Inc (NASD...

By  Arghyadeep On  2022-01-17 21:21:00
Netflix raises subscription prices in US and Canada, stock jumps

• Netflix said the new prices will ‘apply to new members and will gradually take effect for all current members' • Streaming giant previously raised prices for U.S. customers in 2019 and 2020 Netflix ...

By  Arghyadeep On  2022-01-15 02:40:00
Citigroup sells retail operations in Southeast Asia for $3.7 billion

• The NY-based bank will sell its businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank • UOB will pay Citigroup a cash consideration for the net assets of the acquired busin...

By  Yashasvini On  2022-01-15 02:08:00
Instacart launches premade food-delivery service to take on DoorDash, Uber

• Instacart aims to compete with take-out meal • DoorDash and Uber have increased competition in grocery delivery Groceries delivery app Instacart Inc is launching a service to offer premade foods fro...

By  Arghyadeep On  2022-01-14 00:51:00
British lawmakers to scrutinize Visa and Mastercard fee increases

• Mastercard and Visa increased the fees in October from 0.2% to 0.3% and 1.15% to 1.5%, respectively • Amazon will stop accepting payments from UK-issued Visa credit cards from January 19 British law...

By  Arghyadeep On  2022-01-13 22:10:00
British fintech firm's valuation hits $40 billion after latest funding

• Change in consumer behavior in using digital payments is ramping up bets on fintech • High demand in the U.S. market is another reason for the push British fintech giant said its valuat...

By  Arghyadeep On  2022-01-13 02:31:00
Robinhood to offer permanent remote working to most of its employees

• The company said for a large segment of the employees, there will be no location or regular in-office requirement • Robinhood stated that it is looking at new technology to improve communication amo...

By  Ishika Dangayach On  2022-01-12 23:31:00
New York Times to buy online sports website The Athletic for $550 million - The Information

• NYT expects to reach 10 million subscribers by 2025 • The Athletic expects its 2021 revenue to be around $77 million and cash burn of $35 million The New York Times Co has agreed to buy a subscripti...

By  Arghyadeep On  2022-01-07 01:18:00
Rivian drops 12% as Amazon signs deal to buy electric delivery van from Stellantis

• Rivian has a prior deal with Amazon to deliver 10,000 vehicles by 2022 • Stellantis CEO says new order is a ‘significant number' Electric pickup truck maker Rivian Automotive Inc fell after Amazon.c...

By  Arghyadeep On  2022-01-06 02:25:00
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