News

Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in its Indian e-commerce firm Flipkart and acquired private equity firm Accel's remaining 1% stake in the company as well, media reports said on Monday. The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion. This is down from a near-$38 billion valuation which Flipkart had attained in 2021. The U.S. retailer bought a 77% stake...
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ
Source: Reuters
8/08/2023 7:39:35 PM
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors. A Walmart spokesperson confirmed the transaction in an emailed response to Reuters but did not comment on financial details of the deal. The transaction will value the e-commerce firm at $35 billion, the WSJ report said. "We remain confident in the future of Flipkart and are ...
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal
Source: Reuters
31/07/2023 9:22:25 AM
Investors closes in on acquiring CoinDesk for $125 mn  A group of investors is reportedly in final stages to acquire cryptocurrency news company CoinDesk for about $125 million. CoinDesk is currently owned by crypto conglomerate Digital Currency Group (DCG), which acquired it in 2016. According to the Wall Street Journal, a group led by blockchain investors Matthew Roszak of Tally Capital and Peter Vessenes of Capital6 are "nearing a $125 million deal for CoinDesk". CoinDesk did not immediately comment on the report. C...
Investors closes in on acquiring CoinDesk for $125 mn
Investors closes in on acquiring CoinDesk for $125 mn
Source: IANS
21/07/2023 11:44:53 AM
Tesla directors to return $735 mn to company as they overpaid themselves Elon Musk-run Tesla's directors will pay $735 million back to the electric car-maker to settle claims from shareholders that they “excessively overpaid themselves”.  Musk himself is under scrutiny for his own $56 billion compensation package, which is facing its own lawsuit that went to trial last year, reports TechCrunch. The settlement will be paid directly to Tesla to benefit the company. The settlement concluded a 2020 lawsuit from a retirement fund that holds T...
Tesla directors to return $735 mn to company as they overpaid themselves
Tesla directors to return $735 mn to company as they overpaid themselves
Source: IANS
18/07/2023 12:35:48 PM
28-year-old tech billionaire Austin Russell acquires 82% stake in Forbes Austin Russell, 28-year-old Chairman and CEO of automotive technology company Luminar Technologies, has acquired 82 per cent stake in Forbes Global Media Holdings, that published the Forbes magazine, in a deal that values the media house at nearly $800 million. According to a report in Wall Street Journal, Russell's stake includes the remaining portion of the company owned by its namesake family, which sold 95 per cent of the company to Hong Kong-based investor group Integrated Whale M...
28-year-old tech billionaire Austin Russell acquires 82% stake in Forbes
28-year-old tech billionaire Austin Russell acquires 82% stake in Forbes
Source: IANS
13/05/2023 12:12:21 PM
Elon Musk appoints female CEO to lead Twitter Elon Musk has announced that he has found a new CEO for Twitter (or X Corp.) who will be starting her role in six weeks. Musk said he will transition from his role as CEO of Twitter to serving as its executive chair and chief technology officer (CTO). "Excited to announce that I've a new CEO for X/Twitter. She will be starting in 6 weeks! My role will transition to being exec chair & CTO, overseeing product, software & sysops," he tweeted on Thursday. Accordi...
Elon Musk appoints female CEO to lead Twitter
Elon Musk appoints female CEO to lead Twitter
Source: IANS
12/05/2023 10:57:43 AM
US futures bounce with earnings but bank worries weigh  U.S. stock futures bounced as buybacks and earnings beats boosted tech giants in after-hours trade, although Asian shares wallowed at one-month lows on Wednesday, with investors turning nervous on the outlook for the world's two biggest economies. Nasdaq futures were up 1.4% and S&P 500 futures up 0.5% following better-than-expected profits at Microsoft and a $70 billion stock buyback at Google parent Alphabet. Both stocks rose after the bell. However, U.S. markets fell sh...
US futures bounce with earnings but bank worries weigh
US futures bounce with earnings but bank worries weigh
Source: Reuters
26/04/2023 8:43:21 AM
Elon Musk will give Twitter workers stock awards based on $20 bn valuation Elon Musk has finally broken his silence on giving stock awards to employees, saying that they will get stock awards based on a roughly $20 billion valuation. It is less than half of $44 billion for which Musk acquired the micro-blogging platform, reports The Wall Street Journal. "I see a clear, but difficult, path to a >$250B valuation," he told employees in an email. He said that Twitter is being reshaped so that the company "can be thought of as an inverse startu...
Elon Musk will give Twitter workers stock awards based on $20 bn valuation
Elon Musk will give Twitter workers stock awards based on $20 bn valuation
Source: IANS
26/03/2023 11:38:09 AM
Apple eyes India, Vietnam to replace China as its key manufacturer China, which is still the key Apple supplier, may lose its tag as leading iPhone manufacturer as Apple looks at India and Vietnam to bolster its supply chain, the media reported on Saturday. Largest Apple supplier Foxconn has "quietly finalised plans" to relocate some of its Apple iPad and MacBook production to Vietnam, reports The South China Morning Post. Apple has reportedly cut back on orders citing weakening demand in potential blow to its Chinese suppliers amid Covid dis...
Apple eyes India, Vietnam to replace China as its key manufacturer
Apple eyes India, Vietnam to replace China as its key manufacturer
Source: IANS
14/01/2023 5:36:51 PM
Oil rises after Saudis deny report of OPEC+ supply increase Oil prices rose slightly in early Asian trade on Tuesday, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with OPEC and its allies. Brent crude futures rose 17 cents, or 0.2%, to $87.62 by 0007 GMT. U.S. West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising 7 cents, or 0.1%, to $80.11 a barrel. Both benchmarks had plunged by more than $5 a barrel in the previous session after the Wall Street Journal (WSJ) re...
Oil rises after Saudis deny report of OPEC+ supply increase
Oil rises after Saudis deny report of OPEC+ supply increase
Source: Reuters
22/11/2022 9:34:02 AM
Russian oil for American shores A recent report by the Wall Street Journal (WSJ) published on June 1, says that some oil companies have been supplying discounted Russian oil to the US and in this regard it specially mentions Indian companies. Quoting data by Kpler, a commodities data analytics website, the WSJ claims that a refinery owned by Indian conglomerate Reliance Industries bought seven times more Russian crude during May compared to before the war, which is about 20 per cent of its total intake. Lauri Myllyv...
Russian oil for American shores
Russian oil for American shores
Source: Accord Fintech
6/06/2022 11:59:19 AM