In a statement Brazilian asset manager Patria Investments Ltd said it is slated to reach a valuation of between $1 billion to $1.6 billion in its planned initial public offering (IPO) on Nasdaq. On December 30, Patria, which has $13… Read More ›
Entrepreneurship
UK Watchdog Claims 4,000 Financial Firms Could Collapse Due To Covid-19 Hit
According to the estimates of the Financial Conduct Authority of the United Kingdom, the economic impact of the first wave of the novel coronavirus pandemic has put almost 4,000 financial companies of the country at the brink of and at… Read More ›
Fujifilm Holdings Corp to invest $2 billion in new cell culture production site in United States
In a statement Fujifilm Holdings Corp said, it aims to invest up to $2 billion so as to create a new large-scale cell culture production site in the United States. The new plant will help accelerate growth of the company’s… Read More ›
World’s biggest cement maker LafargeHolcim acquires Firestone Building Products from Bridgestone Americas for $3.4 billon
On Thursday, the world’s biggest cement maker LafargeHolcim said, it will acquire Firestone Building Products from Bridgestone Americas for $3.4 billon. Firestone Building Products specialises in commercial roofing in the United States. In 2020, it recorded sales of around $1.8… Read More ›
NYSE to delist 3 Chinese telecom companies
In an about turn the New York Stock Exchange stated, it will delist three Chinese telecom companies. The development comes in the wake of U.S. Treasury Secretary Steve Mnuchin telling the NYSE’s chief that he disagreed with its decision to… Read More ›
Saudi Arabia along with its 3 Arab allies restore diplomatic and commercial ties with Qatar
In a significant development, Saudi Arabia’s foreign minister said, it would restore full diplomatic ties with Qatar. Saudi Arabia and its three Arab allies have agreed to restore full diplomatic ties with Doha at a summit in the kingdom, said… Read More ›
French tire maker Michelin to restructure business without laying off workers
On Wednesday, in a statement French tire maker Michelin stated it plans on reducing its workforce by up to 2,300 jobs over the a period of three years as part of a restructuring process that is aimed at simplifying and… Read More ›
GM, China’s second biggest foreign automaker, records third straight downturn in sales
While China attracts global automakers saying its auto market is the world’s biggest, U.S. carmaker General Motors Co reported a 6.2% drop in vehicle sales in China during 2020. The carmaker suffered a prolonged sales slowdown in China throughout 2020…. Read More ›
UK offers extra financial assistance worth 4.6 billion pounds to select sectors hit by third national lockdown
On Tuesday, Britain offered 4.6 billion pound support to businesses struggling with the third national lockdown, which was imposed this week to stem the new mutant wave of the coronavirus-induced COVID-19 cases that is sweeping across the U.K. In a… Read More ›
Iranian Revolutionary Guards Corps seizes South Korean flagged tanker
According to a report from the Iranian media, Iran’s Revolutionary Guards Corps has seized a South Korean-flagged tanker in Gulf waters and has detained its crew. The development comes in the wake of South Korean banks freezing Iranian funds following… Read More ›
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