Tag Archives: billion

(Bloomberg) — Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates. A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake in Suning.com Co., according to a statement Monday. The deal was struck at 5.59 yuan a share, the near eight-year low the… Source link

As firework volleys launched out of New York City harbor last night, a very different celebration was likely taking place just a few blocks down the street at Verizon’s official headquarters in Midtown. The telco, which owns TechCrunch for hopefully just a few more weeks pending the close of the Apollo acquisition of our parent company Verizon Media, announced overnight that it had signed an agreement with Z Holdings, a division of Japan’s SoftBank Group, to sell… Source link

TOKYO: SoftBank‘s internet business Z Holdings Corp said on Monday it has agreed to pay Verizon Communications Inc 178.5 billion yen ($1.61 billion) to secure the rights to Yahoo branding and technology in perpetuity in Japan. In contrast to the retreat of Yahoo in the United States, the brand remains a core part of SoftBank’s domestic internet business where the name adorns a web portal and services like shopping and weather. Verizon is offloading its media businesses including Yahoo and Source link

By Sam Nussey and Shinji Kitamura TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday. The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth. Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at… Source link

Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to Bloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the… Source link

By Sohini Podder    (Reuters) -Shares of Sprinklr Inc, which counts Microsoft Corp and Verizon Communications Inc as customers, fell nearly 9% in their U.S. stock market debut on Wednesday, valuing the software startup at about $3.7 billion.    The New York-based company, backed by private equity firm Hellman & Friedman, raised $266 million in its downsized initial public offering on Tuesday. (https://bit.ly/3gVux0R)    Shares opened at $14.60, compared with Sprinklr’s IPO price of $16… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, June 23, 2021 GameStop saves money by raising money The “meme trade” has been one of the market’s defining trades this year.  And while some investors have chosen to ignore the action we’ve seen in shares of GameStop (GME) or AMC (AMC) amid a value rotation, rising bond yields, and a booming economy, these retail-driven trading frenzies… Source link

Google Chrome retains an iron grip on web browser market share with well over two billion users. Unfortunately, all those users need to be on high alert because Google has just issued its second urgent upgrade warning in a week.  Google has confirmed a serious security problem in its Chrome web browser and urged users to upgrade LightRocket via Getty Images MORE FROM FORBESChrome ‘Zero Day’ Exploit Revealed, Google Pushes Urgent UpgradeBy Gordon Kelly In an official blog post,… Source link

By Medha Singh and Saqib Iqbal Ahmed (Reuters) – A near-record dollar amount of single stock equity options -totaling $818 billion – is set to expire at the close of trading on Friday afternoon, potentially driving sharp moves in some stocks throughout the day, Goldman Sachs analysts wrote. A recent surge in interest in options trading, fueled in part by droves of retail traders looking to place wagers on the swings in so-called meme stocks such as GameStop Corp and AMC Entertainment Holdings,… Source link

Cybersecurity startup Oversecured reported vulnerabilities in the Google Android app, which could’ve … [+] allowed a hacker to steal sensitive data and snoop on users through the smartphone’s camera. (Photo by Nasir Kachroo/NurPhoto via Getty Images) NurPhoto via Getty Images Google’s Android app, with more than 5 billion downloads, has been patched after a researcher found it was vulnerable to an attack that could have allowed hackers to obtain sensitive data from users’… Source link