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Nikkei Says That Mitsui Sumitomo Insurance Will Pay $400 Million For A Reinsurance Broker In The United States

Withdrawals Suspended By Singapore-Based Cryptocurrency Lender Hodlnaut

Reader's Pick

Instagram Reverses Its TikTok-Style Redesign 31/07/2022

Microsoft's CEO Predicts A "New Era" Of A Stagnant Labour Pool 18/07/2022

Credit Suisse Replaces Its CEO And Initiates A Strategy Review In The Wake Of A Large Second-Quarter Loss 27/07/2022

Amazon Strides Into US Healthcare Sector With A $3.5 Bln Deal For One Medical 22/07/2022

Hermes Reports A Significant Turnaround In China And A Record Margin 29/07/2022

Latest Business News
Nikkei Says That Mitsui Sumitomo Insurance Will Pay $400 Million For A Reinsurance Broker In The United States

Nikkei Says That Mitsui Sumitomo Insurance Will Pay $400 Million For A Reinsurance Broker In The United States

Companies

According to the Nikkei business daily, Mitsui Sumitomo Insurance Company, a part of Japan's MS&AD Insurance Group Holdings, will spend approximately $400 million to acquire US reinsurance broker Transverse.   According to the Nikkei, the Japanese property insurer intends to obtain knowledge of the reinsurance broker industry, which might contribute in the creation of an insurance...
Withdrawals Suspended By Singapore-Based Cryptocurrency Lender Hodlnaut

Withdrawals Suspended By Singapore-Based Cryptocurrency Lender Hodlnaut

Companies

Hodlnaut, a Singapore-based cryptocurrency lender and borrower, announced that it had ceased withdrawals, swaps, and deposits, the latest symptom of stress in the cryptocurrency business.   In addition, the crypto lender announced that it would withdraw its application for a license from the Monetary Authority of Singapore (MAS) to provide digital token payment services, for which it...
Twitter Denies Musk's Allegations That He Was Duped

Twitter Denies Musk's Allegations That He Was Duped

Companies

In a Delaware court filing, Twitter Inc denied Elon Musk's accusations that he was duped into accepting the deal to buy the social media business, calling them "implausible and contrary to truth."   Musk made the charges in a sealed countersuit filed last Friday that was made public on Thursday.   "According to Musk, he — the billionaire founder of multiple companies, advised by...
Amazon's Expands Its Connected Device Portfolio A $1.7 Billion Acquisition of Roomba Manufacturer

Amazon's Expands Its Connected Device Portfolio A $1.7 Billion Acquisition of Roomba Manufacturer

M&A

Amazon.com Inc will pay $1.7 billion in cash to purchase iRobot Corp, the developer of robot vacuum cleaners, in the latest attempt by the world's leading online retailer to widen its basket of smart home goods.   Amazon will pay $61 per share, valuing Roomba at a 22 per cent premium to its previous closing price of $49.99.   Its stock increased by roughly 19 per cent in early...
Uber Sells 7.8% Of Its Share In India's Zomato For $392 Million: Reports

Uber Sells 7.8% Of Its Share In India's Zomato For $392 Million: Reports

Companies

According to two persons familiar with the situation, Uber Technologies sold its 7.8 per cent interest in Indian food delivery firm Zomato Ltd for $392 million in a block deal on local exchanges on Wednesday.   According to them, the transaction was completed at a price of 50.44 rupees per share. Requests for comment from Zomato and Uber were not immediately returned.   On India's...
China Has Slapped Economic Restrictions On Taiwan In Response To Pelosi's Visit

China Has Slapped Economic Restrictions On Taiwan In Response To Pelosi's Visit

Markets

China restricted natural sand exports to Taiwan and froze imports of fruit and seafood goods from the self-governed island on Wednesday, as US House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip criticised by Beijing.    Chinese customs had blocked imports from 35 Taiwanese exporters of cookies and pastries since Monday in a warning shot ahead of Pelosi's visit....
More Information Regarding Ford's Ambitious Electric Vehicle Aspirations Is Provided By Firm’s CEO

More Information Regarding Ford's Ambitious Electric Vehicle Aspirations Is Provided By Firm’s CEO

Companies

Electric vehicle batteries are in short supply, and elements such as nickel and cobalt are becoming increasingly expensive. Nonetheless, Ford Motor Company claims that it will be profitable to create millions of EVs per year in just four years.   This week, the Detroit carmaker provided investors with a little more insight on how it intends to achieve that goal and restructure its business...
Instagram Reverses Its TikTok-Style Redesign

Instagram Reverses Its TikTok-Style Redesign

Companies

Instagram has paused the deployment of new features on its app in response to online outrage from users, influencers, and celebrities. The new features included an increase in recommended video material, comparable to rival app TikTok.   People complained about the presentation and feeds since they didn't see as many images from friends and relatives. Instagram's parent company, Meta,...
Microsoft Accuses An Austrian Spy Business Of Developing A Hacking Tool For EU Member States

Microsoft Accuses An Austrian Spy Business Of Developing A Hacking Tool For EU Member States

Companies

Microsoft said an Austrian firm built malicious software that was identified on the computer systems of some of its clients in at least three countries, but the espionage tool "Subzero" was solely for official use in EU states.   Microsoft stated that the spying software, or spyware, capable of obtaining personal information such as passwords or logon credentials, had been implemented at...
BNP Paribas Excelled In The Second Quarter, With Shares Increasing

BNP Paribas Excelled In The Second Quarter, With Shares Increasing

Companies

BNP Paribas, a French bank, posted a better-than-expected profit in the second quarter as bad loan charges fell and activity remained strong in both investment and retail banking, despite volatile global markets and an economic downturn.   The net income of France's largest listed lender increased 9.1 per cent year on year to 3.2 billion euros ($3.25 billion) on Friday. According to an...
Hermes Reports A Significant Turnaround In China And A Record Margin

Hermes Reports A Significant Turnaround In China And A Record Margin

Companies

Hermes sales grew considerably in the second quarter, boosted by robust growth in Europe and the United States, as well as a solid resurgence in China in June.   Following Chinese lockdowns in April and May, the French leather goods company, which is particularly known for its silk scarves with equestrian patterns, saw a rebound in sales in the fourth quarter.   Luxury merchants...
Analysts Predict Apple Will Encounter Tepid Demand In China Following A Dip In Quarterly Revenue

Analysts Predict Apple Will Encounter Tepid Demand In China Following A Dip In Quarterly Revenue

Companies

Some analysts warned on Friday that Apple should brace for a drop in Chinese demand as shoppers cut down on spending in anaemic conditions, following the iPhone maker's announcement that demand had risen in mid-June after COVID-19 lockdowns impeded sales.   The iPhone maker announced a 1 per cent drop in quarterly revenue in Greater China on Thursday, breaking a string of good quarters in...

World

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox
A huge monkeypox outbreak has expanded to at least 20 nations, prompting some notable infectious disease experts to call for speedier action from global health authorities to contain it.  ...

Many More Cases Of Monkeypox Likely To Emerge Worldwide, Expects WHO

Many More Cases Of Monkeypox Likely To Emerge Worldwide, Expects WHO
The World Health Organization expects to find more instances of monkeypox when surveillance is expanded in places where the disease is uncommon.   According to the United Nations, 92 confirmed...

The Quad-Supported Vaccine Roll-Out Will Commence In The Early Half Of The Year.

The Quad-Supported Vaccine Roll-Out Will Commence In The Early Half Of The Year.
The first batch of Covid-19 vaccinations, developed by India's Biological E as part of the Quad group of countries' commitment to providing shots around the world, will be available in the first half...

WHO Chief Tedros Discussed With Chinese Premier About Collaboration On Covid Origins

WHO Chief Tedros Discussed With Chinese Premier About Collaboration On Covid Origins
The Chief of the World Health Organization Tedros Adhanom Ghebreyesus has discussed the requirement for stronger partnership on the issue of ascertaining the origin of the Covid-19 pandemic with...

The Cashless Economy Paradox: A Renewed Reliance on Cash During COVID

The Cashless Economy Paradox: A Renewed Reliance on Cash During COVID
Despite initial predictions that the onslaught of the coronavirus would be the demise of physical money, people have turned to cash in this time of uncertainty. Historically, the amount of cash in...

People

Musk Establishes A New Model Of 21st-Century Millionaire With Twitter As His Target

Musk Establishes A New Model Of 21st-Century Millionaire With Twitter As His Target
Elon Musk, an iconoclastic billionaire with a stable of firms ranging from electric automobiles to private rocket ships, has become the world's richest person by developing a fortune firmly anchored...

Botswana Sees No Surge In Covid Hospitalizations Despite It Being, One Of The First Countries To Detect Omicron

Botswana Sees No Surge In Covid Hospitalizations Despite It Being, One Of The First Countries To Detect Omicron
Despite being one of the first nations to identify the Omicron variant of thee coronavirus, Botswana has managed to fully vaccinate 71 per cent of its 1.3 million eligible people, according to the...

Musk Conducts Poll On Twitter About Selling Or Not Selling 10% Of His Tesla Stock

Musk Conducts Poll On Twitter About Selling Or Not Selling 10% Of His Tesla Stock
Elon Musk, the chief executive of Tesla Inc, resorted to asking his 62.5 million followers on Twitter, through a poll, about whether he should sell off 10 per cent of the stocks in Tesla that he...

Covid-19 Booster Dose Of Pfizer Cleared By US FDA For Older And At-Risk Americans

Covid-19 Booster Dose Of Pfizer Cleared By US FDA For Older And At-Risk Americans
The Food and Drug Administration of the United States approved a booster dose from the Pfizer Inc and BioNTech Covid-19 vaccine for individuals 65 years and older, as well as all those who are at...

British Health Body Claims Two Shots Of Covid-19 Vaccine Effective Against India Variant

British Health Body Claims Two Shots Of Covid-19 Vaccine Effective Against India Variant
Health officials in the United Kingdom have said that the efficacy and effectiveness of a double dose of Covid-19 vaccines is almost the same for the fast spreading variant of the coronavirus that...