News

Walmart paid $3.5 bn to buy Flipkart shares from Binny Bansal, Tiger Global & others Retail giant Walmart has paid around $3.5 billion to acquire shares in e-commerce major Flipkart from non-controlling stakeholders, including co-founder Binny Bansal and top investment firms Tiger Global and Accel, among others. In a Securities and Exchange Commission (SEC) filing in the US, the company said that during the six months ended July 31, 2023, “the company paid $3.5 billion to acquire shares from certain Flipkart non-controlling interest holders and settle the liability t...
Walmart paid $3.5 bn to buy Flipkart shares from Binny Bansal, Tiger Global & others
Walmart paid $3.5 bn to buy Flipkart shares from Binny Bansal, Tiger Global & others
Source: IANS
2/09/2023 4:18:20 PM
Dollar set for weekly loss as crucial US jobs data looms The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a pivotal monthly U.S. jobs report that is likely to inform the path for Federal Reserve policy over coming months. The U.S. currency dipped to a one-week low against the yen, weighed down by slumping Treasury yields, after a volatile week when overall soft economic data tempered the outlook for further Fed rate hikes. However, the greenback held on to gains made against the euro ...
Dollar set for weekly loss as crucial US jobs data looms
Dollar set for weekly loss as crucial US jobs data looms
Source: Reuters
1/09/2023 9:15:57 AM
Asia stocks gain on hopes for China stimulus, Fed pause  Most Asia-Pacific stocks markets strengthened on Wednesday, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% in the morning. China's benchmark equity index rose 0.3%, while Hong Kong's Hang Seng added 1.2%. On Tuesday, China reportedly asked the biggest banks to cut deposit rates to boost the economy. Speculation of policy support for the troubled prope...
Asia stocks gain on hopes for China stimulus, Fed pause
Asia stocks gain on hopes for China stimulus, Fed pause
Source: Reuters
7/06/2023 8:50:17 AM
OpenAI closes $175 mn fund to empower other AI startups: Report Sam Altman-run OpenAI has closed a $175 million investment fund focused on empowering other AI startups, with backing from Microsoft and other investors. The Information reported first about the fund-raise, citing a US Securities and Exchange Commission (SEC) filing. The company had earlier said it would put $100 million into the startup fund. However, the SEC filings show that the fund, called OpenAI Startup Fund I, is bigger than initially expected and is 75 per cent higher th...
OpenAI closes $175 mn fund to empower other AI startups: Report
OpenAI closes $175 mn fund to empower other AI startups: Report
Source: IANS
25/05/2023 4:18:04 PM
British chip giant to raise $10 bn in biggest stock market listing this year British microchip designing giant Arm has filed to sell its shares in the US, setting the stage for what could be the biggest stock market listing this year. The Cambridge-based firm is reportedly aiming to raise up to $10 billion, the BBC reported. In a blow to the UK, the company said in March that it did not plan to list its shares in London. Arm was bought in 2016 by Japanese conglomerate Softbank in a deal worth 23.4 billion pounds. At the time Arm was listed in London and Ne...
British chip giant to raise $10 bn in biggest stock market listing this year
British chip giant to raise $10 bn in biggest stock market listing this year
Source: IANS
1/05/2023 2:32:12 PM
Roku, Etsy among tech companies impacted by SVB collapse The collapse of Silicon Valley Bank (SVB) has had a ripping effect across the US tech industry as many start-ups scramble to minimise the impact of its seizure by the federal government, the media reported. SVB served a range of roles across the industry; it not only took startups' cash but also offered them venture debt and other loans while providing banking and lending money to venture capital firms. Its collapse is the largest bank failure since Washington Mutual in 2008. SVB ha...
Roku, Etsy among tech companies impacted by SVB collapse
Roku, Etsy among tech companies impacted by SVB collapse
Source: IANS
12/03/2023 2:12:48 PM
Ford sells majority stake in EV startup Rivian US-based Ford Motor Company has sold a majority of electric vehicle startup Rivian shares, according to the US Securities and Exchange Commission (SEC). The shares of the EV maker have been dropping steadily since May 2022, and are now at 1.15 per cent, or 10.5 million shares, reports TechCrunch. The report also said that the sell comes just a week after Ford disclosed a $7.3 billion write-down on its Rivian investment last year. Rivian's stock has fallen almost 70 per cent since...
Ford sells majority stake in EV startup Rivian
Ford sells majority stake in EV startup Rivian
Source: IANS
10/02/2023 3:08:35 PM
Users will soon be able to pick a Twitter version they like better : Elon Musk Elon Musk on Saturday said that Twitter users will soon be able to pick a version of the microblogging platform they like better, like a moving maturity ranking. "Being able to select which version of Twitter you want is probably better, much as it would be for a movie maturity rating," he tweeted. Musk added: "The rating of the tweet itself could be self-selected, then modified by user feedback". The world's richest man also said that "comedy is now lega...
Users will soon be able to pick a Twitter version they like better : Elon Musk
Users will soon be able to pick a Twitter version they like better : Elon Musk
Source: IANS
30/10/2022 9:50:29 AM
Twitter to be delisted from New York Stock Exchange on November 8 Twitter's new owner Elon Musk has taken the micro-blogging website private and the company's stock will be delisted from the New York Stock Exchange on November 8, a new filing with the US Securities and Exchange Commission (SEC) has revealed. This came after Musk completed Twitter's $44 billion takeover and fired its Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, and the company's policy chief Vijaya Gadde. Twitter delisting will take place on the s...
Twitter to be delisted from New York Stock Exchange on November 8
Twitter to be delisted from New York Stock Exchange on November 8
Source: IANS
29/10/2022 10:49:12 AM
Flipkart losses widens to Rs 4,362 cr in FY22, up 51% Walmart-owned Flipkart's losses widened to Rs 4,362 crore in FY22, a 51 per cent increase from the last financial year. The e-commerce platform reported Rs 10,659 crore as revenues in FY22, an increase of 31 per cent (-on-year), according to data accessed by business intelligence platform Tofler. The company's total expenses for FY22 were Rs 15,020 crore. Flipkart recently achieved more than 1 billion customer visits on its platform during the The Big Billion Days (TBBD) fest...
Flipkart losses widens to Rs 4,362 cr in FY22, up 51%
Flipkart losses widens to Rs 4,362 cr in FY22, up 51%
Source: IANS
29/10/2022 9:37:31 AM
Wall Street firms fined $1.8bn after staff discussed trades on personal devices Some of the biggest Wall Street companies have been fined a total of $1.8 billion by US financial watchdogs after staff discussed deals and trades on their personal devices and apps. The Securities and Exchange Commission (SEC) says the investigation uncovered "pervasive off-channel communications", the BBC reported. Barclays, UBS and Goldman Sachs were among the 16 firms named by regulators. The sweeping industry probe is a landmark case for the SEC and Commodity Futures T...
Wall Street firms fined $1.8bn after staff discussed trades on personal devices
Wall Street firms fined $1.8bn after staff discussed trades on personal devices
Source: IANS
28/09/2022 2:38:07 PM
Apple CFO Luca Maestri sells stock worth $16.9 mn Apple's Chief Financial Officer Luca Maestri has sold shares worth $16.9 million as part of an arranged trading plan. According to a filing with the US Securities and Exchange Commission (SEC), the transactions was executed in two tranches. One transaction was for 66,390 shares, sold for $174.66 each, while the other was 30,345 shares fetching $175.60 apiece. MacRumors reports that a total of 96,735 shares were sold by Maestri. "The transactions were made pursuant to a pr...
Apple CFO Luca Maestri sells stock worth $16.9 mn
Apple CFO Luca Maestri sells stock worth $16.9 mn
Source: IANS
21/08/2022 11:15:16 AM
Sheryl Sandberg officially steps down as Meta COO Meta chief operating officer (COO) Sheryl Sandberg has finally moved on from the position after spending 14 years as the second most-important executive at the social network. Meta has appointed chief growth officer Javier Olivan as tne new CEO who took charge from August 1, the company revealed in a filing with the Securities and Exchange Commission (SEC) in the US. Sandberg will remain a Meta employee through September 30, after which she will continue as a board member. "On A...
Sheryl Sandberg officially steps down as Meta COO
Sheryl Sandberg officially steps down as Meta COO
Source: IANS
2/08/2022 3:05:34 PM
Twitter urges shareholders to approve sale to Musk in revised proxy filing  Microblogging site Twitter's board of directors unanimously recommended that its shareholders vote to approve tech billionaire Elon Musk's $44 billion acquisition of the company. Twitter said in a proxy filing with the Securities and Exchange Commission (SEC) on Friday that it is inviting shareholders to attend a special meeting at an unspecified date to vote on a proposal to adopt the original acquisition plan made in late April, reports CNBC. "We are committed to cl...
Twitter urges shareholders to approve sale to Musk in revised proxy filing
Twitter urges shareholders to approve sale to Musk in revised proxy filing
Source: IANS
16/07/2022 10:04:18 AM
Tesla receives subpoena from Securities and Exchange Commission over 2018 settlement  Tesla Inc said on Monday it received a subpoena from the U.S. securities regulator in November related to the SEC settlement that required top boss Elon Musk's tweets on material information to be vetted. The disclosure in an annual filing https://bit.ly/34kIdih with the U.S. Securities and Exchange Commission comes after Musk triggered a stock sell-off after asking his Twitter followers in November https://bit.ly/3opTftt if he should sell 10% of his stake in the company. As o...
Tesla receives subpoena from Securities and Exchange Commission over 2018 settlement
Tesla receives subpoena from Securities and Exchange Commission over 2018 settlement
Source: Reuters
7/02/2022 7:52:16 PM
Securities and Exchange Commission threatens to sue Coinbase over crypto lending programme HONG KONG - The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, an official way it tells a company that it intends to sue the company in court, Paul Grewal, the company's chief legal officer said in a blog post. He said Coinbase would delay th...
Securities and Exchange Commission threatens to sue Coinbase over crypto lending programme
Securities and Exchange Commission threatens to sue Coinbase over crypto lending programme
Source: Reuters
8/09/2021 11:28:31 AM
US charges crypto executives for 1st time amid larger scrutiny As the US goes after the unregulated cryptocurrency market, the Securities and Exchange Commission (SEC) has for the first time charged two crypto industry executives of illegally selling over $30 million of securities in unregistered offerings. The two executives from the Blockchain Credit Partners company used the Ethereum blockchain to sell cryptocurrencies to investors while misleading them about the company's profitability, reports The Verge. "Full and honest disclosure re...
US charges crypto executives for 1st time amid larger scrutiny
US charges crypto executives for 1st time amid larger scrutiny
Source: IANS
8/08/2021 1:44:52 PM
Exclusive-U.S. regulator freezes Chinese company IPOs over risk disclosures -sources The U.S. Securities and Exchange Commission (SEC) has stopped processing registrations of U.S. initial public offerings (IPOs) and other sales of securities by Chinese companies while it crafts new guidance for disclosing to investors the risk of a new regulatory crackdown by Beijing, according to people familiar with the matter. Chinese listings in the United States have reached a record $12.8 billion so far this year, according to Refinitiv data, as companies swooped in to capitalize on ...
Exclusive-U.S. regulator freezes Chinese company IPOs over risk disclosures -sources
Exclusive-U.S. regulator freezes Chinese company IPOs over risk disclosures -sources
Source: Reuters
30/07/2021 3:48:26 PM