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US Food Delivery Firm Raises $3.4 Bln In U.S. Listing And Doubles Valuation

The United States based food delivery firm DoorDash Inc managed to raise $3.37 billion through the sale of its shares in its initial public offering at $102 apiece which was higher than the upwardly revised target range that was announced by the company, the company said on Tuesday. This IPO mega...

Aramco Steps Into Non-Metallics Segment In A Joint Venture With Baker Hughes

A broad range of non-metallic products for multiple applications in the energy sector will be developed and commercialised through a 50-50 joint venture between Aramco and Baker Hughe, which has been named Novel, the two companies announced on Tuesday at a ceremony to mark the launch.   The...

Second Share Sale Worth $5billion In Three Months Launched By Tesla

With the meteoric rise in its share price in recent times, United States based electric car maker Tesla Inc plans to ride the wave of its stellar share prices and unveiled a $5 billion capital raise on Tuesday which if the second such move by the company in three months.   The market value...

Allegations Against Pornhub To Be Investigated By Mastercard

After a report was published in The New York Times of videos in the website Pornhub.com, that the authors of the report described to be of assaults on unconscious women and girls and many of the videos were of child abuse were , an investigation against the allegations against Pornhub will be...

LG Reorganizes Its Loss-Making Smartphone Business And Will Outsource Its Lower-End Models

South Korean tech giant LG Electronics has decided to reorganize its mobile phone business unit and is set to increase the role of outsourcing for manufacturing of its mid-end smartphones, the company said on Monday. According to analysts, this step by the company is strategy by it to bring down...

Over 400 Lawmakers From 34 Countries Sign Letter Supporting Make Amazon Pay Campaign

A campaign that claims the e-commerce and tech giant Amazon has "dodged and dismissed … debts to workers, societies, and the planet," has found support from more than 400 lawmakers from 34 countries, the organizers of the campaign said. The lawmakers have signed a letter supporting the campaign...

South Korean Battery Makers LG Chem And SK Innovation Fight Over EV Recalls In US

A tussle in currently on-going between the South Korean battery makers LG Chem and SK Innovation over the issue of whether the United States International Trade Commission (ITC) should take into consideration a recent recall of electric vehicles in relation to a case of trade secret theft.  ...

Its Digital Payments Business To Be Spun Off By Walmart's Flipkart

The digital business of the Walmart Inc-controlled Indian e-commerce firm Flipkart will be partially spun off, the company said on Thursday. Its digital payment app PhonePe will be spun off to broaden the businesses access to the capital markets for faster growth of the platform.   The...

US Regulator Accuses Google Of Violating US Labour Laws In Crackdown On Worker Organising

Alphabet Inc's Google has been accused by the National Labor Relations Board of the United States of unlawfully monitoring and questioning several workers and then they were fired by the company for raising their voice against the policies of the company and trying to create a workers’ union at the...

China's SMIC And CNOOC To Be Added To Defense Blacklist By Trump Administration: Reuters

A blacklist comprising of alleged Chinese military companies will soon have China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC, claimed a report published by the news agency Reuters.    The administration of the United States president Donald Trump is poised to...

Taiwan's GlobalWafers In Advanced Stage Negotiations For Acquiring German Rival Siltronic

Negotiations between the German firm Siltronic and the third-largest maker of semiconductor wafers of the world GlobalWafers of Taiwan are at an advanced stage for the acquisition of the German firm by the Taiwanese firm, GlobalWafers confirmed on Monday. The Taiwanese company said that the deal is...

Japanese Airline ANA To Issue New Shares To Raise $3.2 Billion To Finance Purchase Of 787 Jets

Japanese airlines ANA Holdings has decided to continue to purchase the wide bodied 787 planes from Boeing according to its pre-pandemic orders for the planes to the company even while deliveries of such planes are being deferred and delayed by many other airlines across the world in order to...
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