Elon Musk’s SpaceX is building a new factory in Texas for its satellite-based broadband service Starlink. Musk is heading several futuristic companies, including electric vehicle maker Tesla Inc, neurotechnology company Neuralink, and Boring Co. In December 2020, Musk moved to… Read More ›
Economy & Finance
United Predicts Revival Of Pandemic Hit Travel Sector Orders 25 New Boeing 737 Max Jets
Orders for an additional 25 Boeing 737 Max jet planes were placed with the United States based aircraft makers by United Airlines which is the largest order for the planes since they were grounded globally in March 2019. The American… Read More ›
SoftBank-Supported Coupang Wants To Launch US IPO Valued At Over $50 Billion
The largest initial public offering in the United States so far this year could be launched by the South Korean e-commerce giant Coupang, which has the support of HJapanese conglomerate SoftBank Group. According ot reports, the IPO from the company… Read More ›
Saudi Arabian Airlines to order 70 new airlines from Airbus and Boeing
According to Saudi Arabian news outlet Maaal, Saudi Arabian Airlines (Saudia) plans on ordering 70 airliners from Airbus and Boeing. The report states, Saudia is negotiating with local banks to raise $3.07 billion (11.5 billion riyals) to partly finance an… Read More ›
SoftBank Group Corp writedowns its $1.5 billion investment in supply-chain finance company Greensill Capital
According to a report from Bloomberg News citing sources familiar with the matter at hand, SoftBank Group Corp’s Vision Fund has significantly written down its $1.5 billion investment in supply-chain finance company Greensill Capital. According to the report, SoftBank’s Vision… Read More ›
From 2022 banks in EU to publish world’s first green asset ratio
In a significant development, the European Union’s banking watchdog stated, starting from next year banks in the Eurozone would have to publish a pathbreaking “green asset ratio” (GAR) as a core measure of their climate-friendly business activities. With investments in… Read More ›
Porsche to participate in electric supercar maker Rimac Automobili’s funding round
In a statement to Automobilwoche weekly, Volkswagen unit Porsche said, it is participating in Rimac Automobili’s funding round which will see the electric supercar maker raise $157 million-$181 million (130 million-150 million euros). “The fundraising should be completed in two… Read More ›
Cloud-communications firm Twilio Inc nears deal to invest $750M in Syniverse Technologies LLC
According to a report from the Wall Street Journal, Twilio Inc, a cloud-communications firm, is in talks to invest around $750 million in Syniverse Technologies LLC. The investment is slated to be announced later today, which could be followed by… Read More ›
India’s Pharma Firm SII Is The Leader In Vaccinating The World Against Covid-19
With global pharma companies ramping up production of their respective vaccines, there is one firm that has already moved into the leading position. Even though the Serum Institute of India (SII) is not a household name, it is the… Read More ›
SoftBank backed Berkshire Grey AI-based logistics automation systems solutions provider to go public with SPAC in $2.7 billion deal
In a statement SoftBank-backed robotics firm Berkshire Grey said, it has agreed to go public through a merger with a blank-check company in a deal that values the combined company at $2.7 billion. The deal is expected to provide Berkshire… Read More ›