Tag Archives: billion

(Bloomberg) — JetBlue Airways Corp. offered to buy budget carrier Spirit Airlines Inc. for $3.6 billion, potentially spoiling a competing bid by rival Frontier Group Holdings Inc. and reshaping the landscape for ultra-low-cost air travel. Most Read from Bloomberg Spirit said Tuesday it received an unsolicited proposal from JetBlue to buy outstanding shares for $33 apiece in cash. Spirit will work with financial and legal advisers to evaluate the offer, according to a statement. The surprise… Source link

(Bloomberg) — Alibaba Group Holding Ltd. ramped up its share buyback program to $25 billion, expanding that arsenal for a second time in less than a year to stanch a $470 billion loss of value during Beijing’s internet crackdown. Most Read from Bloomberg The board of China’s e-commerce leader has approved the program, which will run for two years through to March 2024, the company said in a statement. It also appointed a new independent director in Shan Weijian, chairman of alternative… Source link

All-cash transaction provides significant premium, delivering substantial and certain value for Alleghany stockholders Strong strategic fit between Berkshire Hathaway and Alleghany Alleghany and its subsidiaries will continue to operate as an independent entity with increased capital strength and support from Berkshire Hathaway OMAHA, Neb. & NEW YORK, March 21, 2022–(BUSINESS WIRE)–Berkshire Hathaway (NYSE:BRK.A; BRK.B) and Alleghany Corporation (NYSE:Y) today jointly announced they have… Source link

Alexander Manzyuk/Reuters The fifth-largest stockpile of gold in the world belongs to Russia, valued at nearly $140 billion. As with oil, sanctions are making it very difficult for Russia to trade the precious commodity. Demand for gold is still high within the country as the ruble has crashed to record lows. Like the price of crude oil, gold prices have been on a wild ride since Russia began its invasion of Ukraine. And like oil, Russia holds some of the world’s largest reserves of gold — some… Source link

Selling a much cheaper iPhone may pay off very well financially for Apple (AAPL). “We believe the launch should be a notable tailwind for Apple, which we think could ship >35M units in the phone’s first year. At a blended average selling price of ~$450 or modestly higher given a higher base price, shipments at that volume could generate an additional ~$15-20 billion in annual revenues (approx. ~4-5% of total sales). Assuming standard product operating margins, it could contribute ~25-30… Source link

If you purchase an independently reviewed product or service through a link on our website, BGR may receive an affiliate commission. Scientists have been playing god with mosquitos for a couple of years now. Back in 2021, British company Oxitech released 750 million lab-modified mosquitos in Florida. Now, the company is gearing up to release another 2 billion genetically modified mosquitos across more of Florida and in California as well. Don’t Miss: Amazon Prime price is going up, here’s… Source link

(Bloomberg) — Amazon.com Inc. is planning to split its stock for the first time in more than two decades in a move that will end an era of four-digit stock prices for the biggest U.S. technology companies. Most Read from Bloomberg Amazon intends to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed late Wednesday, joining other technology giants like Alphabet Inc. and Apple Inc. who have turned to splits to make their stocks more attractive to retail investors. That news… Source link

Google agreed to buy cybersecurity company Mandiant. Photo: Jeff Chiu/Associated Press … Source link

Warren Buffett.Kevin Lamarque/Reuters Warren Buffett’s Berkshire Hathaway invested $4.5 billion into Occidental Petroleum in five days. The investor pounced after reading a transcript of Occidental’s latest earnings call, he told CNBC. Berkshire snapped up 91.2 million shares, securing a stake worth more than $5 billion today. Warren Buffett’s Berkshire Hathaway plowed $4.5 billion into Occidental Petroleum in five days, securing 91.2 million shares worth upward of $5 billion today. The famed… Source link

President Vladimir Putin (R) and Yandex CEO Arkady Volozh visit the Yandex headquarters in Moscow TASS via Getty Images Arkady Volozh, the tech entrepreneur behind Yandex—the Russian equivalent to search engines like Google and Yahoo—has seen the value of his stake in Russia’s top tech giant fall by over 60% since last Thursday, the day Putin attacked Ukraine. Volozh himself lost more than $400 million that day, as Russia’s wider business community… Source link