In a statement Okta Inc, an identity management company said, it has agreed to acquire Auth0, a smaller rival, for $6.5 billion in an all-stock deal. The development marks one of the largest software deals so far this year. The… Read More ›
Entrepreneurship
Charles Sussman, BAML’s co-head of global oil trading departs
According to two sources familiar with the matter at hand, Charles Sussman, the managing director and joint-head of global oil trading at Bank of America Merrill Lynch (BAML), has left the company after having spent more than 10 years in… Read More ›
ELon Musk to build Starlink factory at Austin, Texas
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 ›
Karen Seymour, Goldman Sachs top lawyer leaves bank, second departure from Goldman’s management committee this week
According to a report from Bloomberg citing sources familiar with the matter at hand, Karen Seymour, Goldman Sachs Group Inc’s general counsel is leaving the bank. Karen Seymour, Goldman’s top lawyer, played a pivotal role in negotiations the bank’s settlement… 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 ›
AT&T sells minority stake to buyout firm TPG Capital, trims debt
In a statement AT&T Inc said, it plans on selling nearly a third of its stake in DirecTV to buyout firm TPG Capital in a deal that values the business at $16.25 billion. Less than 6 years ago it had… 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 ›
Amazon.com Inc faces lawsuit alleging systemic racism in workplace
A female manager at Amazon.com Inc has filed a lawsuit against the online retailer alleging that it hires Black people for lower positions, and promotes them more slowly than white colleagues. She also said she was subjected to harassment. The… 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 ›
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