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Goldman Sachs Wants To Lend Twice As Much To Customers Of Affluent Private Banks

As it accumulates more deposits to boost lending, Goldman Sachs intends to treble its lending over the next five years to ultra-wealthy private bank clients with account sizes surpassing $10 million, the bank's chief of private banking told Reuters.   Goldman's global head of private...

European Obstacles Encountered By Shein's Pre-IPO Charm Offensive

The pre-IPO charm offensive being launched by online fast-fashion retailer Shein in Britain is meeting with resistance from politicians and the retail sector in Europe. European producers of clothing, shoes, leather goods, and fabric this week urged upcoming EU lawmakers to safeguard the 1.5...

It May Take Two Years Before Walmart's Flipkart, And PhonePe Go Public – Says Company Executive

According to a Walmart executive, it could take a several years for the Flipkart marketplace and PhonePe digital payments platform to make their initial public offerings.   Dan Bartlett, executive vice president for corporate affairs at Walmart, stated late on Thursday, "This is something...

In Europe, McDonald's Loses The Chicken Big Mac Trademark

After five years without using the term "Big Mac" for poultry products, the European Court of Justice ruled on Wednesday that McDonald's does not hold the exclusive right to use it. This decision gives Irish rival Supermac's a partial victory in the ongoing trademark battle with the American...

According To Insiders, TikTok Is Building A US Version Of The App's Main Algorithm

According to people with firsthand knowledge of the project, TikTok is developing a clone of its recommendation algorithm for its 170 million American users. This might lead to a version that runs independently of its Chinese parent and is more acceptable to US politicians who wish to outlaw the...

PlayStation User Interaction Is Emphasized By Sony As Hardware Sales Decline

Japanese electronics firm Sony has highlighted the strength of user engagement with its gaming platform as the PlayStation 5 console sales taper off and businesses in the industry search for recurring revenue stream.   Thanks in part to add-on services and content like PlayStation Plus, PS5...

HP Exceeds Revenue Projections Due To A Rebound In PC Demand

As consumers update their systems, HP Inc.'s second-quarter sales topped Wall Street projections on Wednesday, indicating a rebound in the personal computer (PC) industry.   Similar to other PC manufacturers, HP had a spike in sales during the pandemic as people stocked up on electronic...

The First Strike At Samsung Electronics Is Threatened For Next Week

Next week, a South Korean Samsung Electronics union will stage its first-ever walkout in protest over pay demands, according to union leaders, who made the announcement on Wednesday.   As part of larger protest actions, the National Samsung Electronics Union (NSEU), which has around 28,000...

Anglo Declines BHP's Desperate Attempt To Resume Acquisition Negotiations

Anglo American on Wednesday turned down BHP Group's desperate plea for an extension to review its $49 billion acquisition bid, calling it too complicated and probably signalling the end of the larger rival's five-week chase.   Anglo had rejected a third acquisition bid, which it deemed too...

According To Latest Data, Sale Of iPhone In China Increased By 52% In April

Data from a research organisation associated with the Chinese government shows that Apple's smartphone sales in China increased 52% in April compared to the same month last year, continuing a recent upward trend.   The increase comes after the American tech giant underperformed in the...

Alibaba's Global Subsidiary Arm Appoints David Beckham As Global Brand Ambassador For e-Commerce Business

The commercial subsidiary of Alibaba said on Monday that football player David Beckham will serve as a brand ambassador for AliExpress, the company's worldwide e-commerce platform, in the largest global relationship to date.   The agreement is made against the backdrop of the fast worldwide...

Shareholders Are Advised By Proxy Firm To Oppose Elon Musk's $56 Billion Compensation Proposal

The $56 billion compensation proposal for Tesla CEO Elon Musk, if approved, would be the highest pay package for a CEO in corporate America, according to a statement made on Saturday by proxy consulting company Glass Lewis.   The "excessive size" of the compensation package, the dilutive...
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