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Microsoft’s LinkedIn bids adieu to the Chinese market

-- Microsoft shut down the operation of LinkedIn in China -- Instead, Microsoft would launch a job search site in China Microsoft announced that it would shut down the operation of LinkedIn in China, ...

By  Yashasvini On  2021-10-15 01:48:00
JP Morgan reports 24% rise in profit for Q3 while revenue fails to beat expectations

--JPMorgan posted a profit of $11.69 billion, up from $9.44 billion that was reported last year -- Revenue rose 1% to $29.65 billion JP Morgan Chase posted its results for the third quarter on Wednesd...

By  Yashasvini On  2021-10-14 03:58:00
Assets manager Blackstone eyes content streaming surge with USD1 Bn investment in Hipgnosis Songs Fund

Blackstone would partner with Hipgnosis Songs Fund to acquire music rights Investments would be made in songs, recorded music, and related intellectual property and royalties On Tuesday, Blackstone an...

By  Yashasvini On  2021-10-13 02:20:00
How the US Debt Ceiling Affects Bonds

Gridlock over the U.S. debt ceiling may have been temporarily resolved, but a longer-term solution has also been deferred. Last week's truce appeased the bond market a bit, but investors are still eye...

By  Kathi On  2021-10-12 08:22:00
Apple to face EU antitrust charge over its NFC chip enabled payment system - Reuters

Key Points • EU watchdog is reportedly preparing a statement of objections to reign in Apple Pay • Apple was under scrutiny since June last year for using proprietary technology to refuse the rivals a...

By  Arghyadeep On  2021-10-06 22:20:00
Chinese property developer Fantasia defaults on $205 million bond

Key Points • Fantasia failed to repay $205.7 million bonds, adding worries to China's property development industry • Country Garden said Fantasia failed to pay $108 million for bond repayment • Fitch...

By  Arghyadeep On  2021-10-05 22:09:00
Facebook, Instagram and WhatsApp suffer worldwide outage

Key Points • Facebook, Instagram, and WhatsApp went down on Monday • Security experts are saying it is maybe due to a DNS problem • The outage followed Frances Haugen, a whistleblower, gave an intervi...

By  Arghyadeep On  2021-10-05 01:12:00
Five9 shareholders turn down Zoom's $14.7 billion acquisition deal

Key Points • Five9 shareholders turned down Zoom's acquisition proposal • In July, Zoom offered $14.7 billion to acquire Five9 • Earlier this month, Institutional Shareholder Services published a note...

By  Arghyadeep On  2021-10-01 13:51:00
Price inflation to push worldwide online holiday sales to $1.2 trillion

Key Points • Holiday sales are expected to increase 7% this year to $1.2 trillion worldwide • Price inflation and global supply chain disruption will force the cost of products to increase 20%  • "Buy...

By  Arghyadeep On  2021-09-29 22:35:00
Blackstone to sell Cosmopolitan casino and hotel in Las Vegas for $5.65 billion

Blackstone Inc on Monday said it has reached a deal to sell The Cosmopolitan casino and hotel on the Las Vegas Strip for $5.65 billion and will separate the property from the hotel's operations. As pa...

By  Arghyadeep On  2021-09-27 21:28:00
U.S. mortgage rates rise to the highest level in six weeks

Key points - l Mortgage rates rose this week l 30-year average jumped by nearly 6 basis points, the highest average since mid-August  U.S. mortgage rates rose this week, raising the 30-year rate by ne...

By  Yashasvini On  2021-09-25 03:04:00
U.S. existing home sales drop 2% in August, pandemic-fueled demand cooling down

U.S. home sales declined in August as supply constricted, suggesting that a surge in house prices and the COVID-19 pandemic-fueled demand is settling down. The National Association of Realtors on Wedn...

By  Arghyadeep On  2021-09-23 02:26:00
Disney CEO predicts lower Q4 subscriber growth than expected, shares fall

Disney CEO Bob Chapek said Tuesday that his company's streaming service growth had "hit some headwinds" due to coronavirus, prompting shares to fall for the day. According to Chapek, Disney plans to g...

By  Ishika Dangayach On  2021-09-22 02:00:00
SEC warns investors of risks of buying stocks of Chinese companies listed in U.S.

The Securities and Exchange Commission (SEC) on Monday issued its latest warning to investors considering buying stocks of Chinese companies listed in the United States exchanges. In an investor alert...

By  Arghyadeep On  2021-09-21 02:30:00
Morgan Stanley sees growing risk of 20% plunge in S&P 500 as market is transitioning

Morgan Stanley foresees there is a possibility of a plunge of more than 20% in U.S. stocks, causing the S&P 500 to slump nearly 2.8% on Monday. Although it is a worst-case scenario, the bank said the ...

By  Arghyadeep On  2021-09-21 00:31:00
Walgreens introduces new bonuses and rewards for pharmacists

Walgreens Boots Alliance Inc said on Friday that it will provide a one-time bonus of $1,250 to full-time pharmacists and a $1,000 payment to part-time pharmacists as big retailers attempt to retain wo...

By  Ishika Dangayach On  2021-09-18 00:49:00
JPMorgan to launch digital retail bank Chase in UK next week

JPMorgan to debut its long-awaited digital retail bank Chase in the United Kingdom next week. NewYork based bank initially announced ambitions to establish its Chase brand in the United Kingdom earlie...

By  Ishika Dangayach On  2021-09-17 23:17:00
World Bank ends 'Doing Business' report after probe finds now-IMF chief pressured to lift China ranking in 2017

The World Bank Group on Thursday said going further it will not publish the "Doing Business" report assessing investment climates of different countries after a probe of data irregularities cited "und...

By  Arghyadeep On  2021-09-17 00:46:00
Maersk raises earnings forecast, sees no sign of ease in freight market

Shipping giant A.P. Moller-Maersk AS lifted the 2021 outlook again on Thursday and indicated that it sees no signs of the current red-hot shipping market will lose steam this year. The Danish freighte...

By  Arghyadeep On  2021-09-16 22:02:00
Goldman Sachs to acquire GreenSky for $2.2 billion

GreenSky, the leading fintech platform for home renovation consumer loan originations will be acquired by Goldman Sachs in an all-stock transaction valued at roughly $2.24 billion. GreenSky's all-stoc...

By  Ishika Dangayach On  2021-09-16 02:08:00
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