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MOSCOW, July 9 (Reuters) – Russian tech giant Yandex said on Friday it was pulling out of a deal to buy online fashion retailer KupiVIP, but is considering alternative outlets in the fashion sector. Yandex said in May it had agreed to buy the online retailer on undisclosed terms to enhance its Yandex.Market offering. “Yandex.Market will not exercise its option to buy the KupiVIP group,” Yandex said in a statement. (Reporting by Gleb Stolyarov; Writing by Alexander Marrow; editing by David Evans) Source link

President Joe Biden signed an executive order on Friday aimed at promoting competition across the U.S. economy — including measures that target big tech companies, aim to lower prices for consumers and call for greater scrutiny of mergers across industries.  “The heart of American capitalism is a simple idea: open and fair competition,” said Biden before signing the order. “Capitalism without competition isn’t capitalism. It’s exploitation. Without healthy competition big players can… Source link

By Gertrude Chavez-Dreyfuss (Reuters) – Cryptocurrency company Bullish announced on Friday it had agreed to go public on the New York Stock Exchange through a merger with Far Peak Acquisition, a special purpose acquisition company (SPAC), in a $9 billion deal. Bullish, a unit of blockchain software company Block.one, plans to launch a regulated crypto exchange later this year. The company is backed by billionaire entrepreneur Peter Thiel’s Thiel Capital and Founders Fund, British hedge fund… Source link

(Bloomberg) — Gabe Plotkin’s Melvin Capital Management ended the first half of 2021 down 46% as the hedge fund struggled to bounce back from a vicious attack by Reddit traders on its short positions. The firm, which plunged in January as its bearish bets on companies including GameStop Corp. and AMC Entertainment Holdings Inc. were besieged by a retail-driven buying spree, was up about 1% in June, according to people familiar with the matter. Melvin now calculates its loss in the first… Source link

How much a stock’s price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well. Another thing that can drive investing is the fear of missing out, or FOMO. This particularly applies to tech giants and popular consumer-facing stocks. What if you’d invested in Apple (AAPL) ten years ago? It may not have been easy to hold on to AAPL for all that time,… Source link

The Pixel 5A 5G, Google’s midrange counterpart to last year’s Pixel 5, has been spotted in the FCC’s database, suggesting a release might not be far away. Android Police, which first saw the two listings, reports that none specifically mention the name “Pixel 5A” but that at least one of the three model numbers (GR0M2) lines up with previous reports about the barely announced phone. Android Police speculates that one of the models (G1F8F) is the version of the phone destined for… Source link

(Bloomberg) — Philip Morris International Inc. agreed to buy U.K. asthma drug maker Vectura Group Plc for $1.2 billion, one of the biggest moves yet by a tobacco company toward treating conditions that its cigarettes can help cause. Philip Morris is offering 150 pence in cash for every Vectura share, the companies said in a statement Friday. That’s 11% higher than Thursday’s closing price, and beats an offer from Carlyle Group Inc. that management had agreed to in May. Vectura shares… Source link

SURFSIDE, Fla. (AP) — When the coronavirus ravaged Florida, Gov. Ron DeSantis defiantly bucked mask mandates. He later cracked down on protesters advocating racial justice, blasted President Joe Biden on immigration, jumped into the fight over transgender athletes and signed sweeping legislation to toughen voting rules. But after a deadly building collapse, the Republican governor is largely hitting pause on the culture wars. In the two weeks since a 12-story condo tower in this coastal… Source link

Yandex NV, the Dutch-domiciled Russian multinational internet company, often dubbed as the Google of Russia, had launched an e-scooter rental service in Moscow on Wednesday in a bid to draw fresh liquids amid a ballooning demand-surge across the city, an auspicious eavesdropping on to a new source of revenues. In point of fact, latest Yandex NV move to roll out an e-scooter rental service into Moscow, the Russ capital housing more than 12.5 million people, came forth at a… Source link

Mobile food ordering and delivery platform Grubhub, has partnered with Yandex Self-Driving Group (SDG), an autonomous vehicle developer, for a multi-year partnership that will see Yandex become Grubhub’s robot delivery provider on college campuses. The partnership will enable Grubhub university clients to deploy Yandex robots on campus for faster, more cost-effective deliveries that complement Grubhub’s existing delivery capabilities for colleges and universities. This will be… Source link