View the latest business news about the world's top companies

Musk in talks with airlines for Starlink in-flight Wi-Fi services

• SpaceX has launched 1,740 Starlink satellites with more than 100,000 users in 14 countries. • Starlink satellites orbit closer to the Earth which increases the speed of internet on flights. Elon Mus...

By  Shubhangi On  2021-10-15 02:27:00
Citigroup posts strong profit amid thriving dealmaking

• Citi's investment banking revenue rose 39% to $1.9 billion in the quarter. • The investment banking fees rose to an all-time record in the first nine months of the year. Citigroup Inc reported stron...

By  Shubhangi On  2021-10-15 00:42:00
Hyundai to develop own chips to reduce dependency on chipmakers

• Hyundai COO said the worst has passed for the global chip shortage. • Hyundai Mobis, company's parts affiliate, would be very important for the chip development plan. Hyundai Motor said on Wednesday...

By  Shubhangi On  2021-10-14 02:30:00
UFP Technologies, Inc. acquires Contech Medical, Inc.

picture credit: Glassdoor UFP Technologies, Inc. (Nasdaq: UFPT), an innovative designer and custom manufacturer of components, subassemblies, products, and packaging primarily for the medical market, ...

By  Hemanth On  2021-10-13 02:03:00
LG Electronics to reimburse GM with $1.9B for faulty batteries

KEY POINTS: -- The reimbursement is expected to cover up the expenses associated with the recall of Chevrolet Bolt EVs. -- Thirteen separate cases of the Bolt EV catching fire, were reported across th...

By  Yashasvini On  2021-10-12 23:18:00
Facebook to 'nudge' teens looking at harmful content

• Facebook will prompt users to 'take a break' from Instagram after prolonged use • Social media giant urges lawmakers to step in as pressure mounts Facebook would introduce new measures to restrict h...

By  Shubhangi On  2021-10-12 02:47:00
Facebook suffers second outage this week, fixes issue in 2 hours

• Facebook blamed a faulty configuration change for the outage. • Instagram thanked users for their patience during the outage. Facebook Inc apologized on Friday to its users for the second global out...

By  Shubhangi On  2021-10-09 03:35:00
Elon Musk’s SpaceX hits $100 billion valuation after secondary share sale - CNBC

• SpaceX's valuation jumped to $100.30 billion following a secondary share sale by insiders • The company struck a deal to sell up to $755 million in stock from at $560 a share • The new valuation mad...

By  Arghyadeep On  2021-10-09 02:02:00
Samsung posts best quarterly profit in three years

• Samsung's third-quarter operating profit surged 28%, highest since 2018. • Samsung reported profit of 15.8 trillion won ($13.3 billion), compared to analysts' expectation of 16.1 trillion won. Samsu...

By  Shubhangi On  2021-10-09 01:25:00
Tesla moves headquarters to Texas from Silicon Valley

• Tesla moved its headquarters from California to Texas CEO Elon Musk announced at the 2021 annual shareholder meeting • In April 2020, on an earnings call, Musk threatened the California government t...

By  Arghyadeep On  2021-10-08 22:23:00
Sky launches its own smart TV dropping the satellite dish

Key Points: ·         The smart TV will be available from October 18 in the U.K before launching in other European markets next year. ·         Customers can stream Sky TV and other content over the i...

By  Shubhangi On  2021-10-08 03:30:00
Northern Oil and Gas, Inc. announces Williston Basin Bolt-on acquisition

Picture credit: Small cap Exclusive Northern Oil and Gas, Inc. (NYSE American: NOG): WILLISTON BASIN ACQUISITION Northern has entered into a definitive agreement to acquire non-operated interests acro...

By  Hemanth On  2021-10-08 02:55:00
Microsoft acquires organizational goal-tracking software startup

KEY POINTS- -- Microsoft acquires Seattle-based startup to improve its functionalities -- The software uses the OKR function which Microsoft intends to incorporate Microsoft has acquired Seatt...

By  Yashasvini On  2021-10-08 02:20:00
GM intends to double its revenue to $280 billion by 2030

KEY POINTS -- Plan to raise revenue based on rolling average of $140 billion for the automaker. -- GM teased its upcoming electric vehicles ahead of the two-day investor meeting General Motors (GM) an...

By  Yashasvini On  2021-10-07 03:12:00
inTEST enters medical cold chain market through acquisition of assets of Z-Sciences Corp.

Picture credit: Business wire inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets, ...

By  Hemanth On  2021-10-07 02:10:00
Amazon’s livestreaming platform Twitch hit by data breach

Key Points: ·         Twitch said its teams are working with to understand the extent of the breach. ·         An anonymous hacker has claimed to have leaked Twitch data which includes company's sourc...

By  Shubhangi On  2021-10-07 01:04:00
PepsiCo expects to raise prices again early next year

Key Points: ·         Due to supply-chain challenges, PepsiCo might have to hike prices again next year. ·         PepsiCo had recently raised prices due to rising raw material prices. PepsiCo Inc sai...

By  Shubhangi On  2021-10-06 01:38:00
Facebook says ‘configuration changes’ led the nearly six-hour outage

Key Points: ·         Facebook CEO Mark Zuckerberg apologizes for the outage. ·         Facebook shares were down by almost 5% on Monday. Facebook apologized for the global outage of its social media ...

By  Shubhangi On  2021-10-05 23:26:00
GM, Ford agrees to resolve battle over use of ‘BlueCruise’

Key Points: ·         GM had filed a lawsuit against Ford for using "BlueCruise" for its hands-free driving technology. ·         Automakers have 60 days to reach a settlement. General Motors Co and F...

By  Shubhangi On  2021-10-05 03:00:00
MarineMax to acquire Intrepid Powerboats

Picture credit: YouTube MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, announced today that it has entered into a definitive agreement to acquire Intrepid Power...

By  Hemanth On  2021-10-05 02:40:00
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