Daily Management Review
Business & Finance

IPOs in US biotech hit record high

US-listed biotechnology companies have had total IPOs of $ 9.4 billion since the beginning of this year, already surpassing the record $ 6.5 billion of 2018, according to Dealogic data. Biotech stocks are up 34% on average this year on the first day of trading after the IPO, the best performance...

WSJ: Cosmetics manufacturers are trying to weaken ties with retailers

In the face of the pandemic, cosmetics manufacturers are trying to reduce dependence on retailers, who were forced to close stores, and look for new ways to sell their products, writes The Wall Street Journal. In the United States, some large networks experienced difficulties even before the...

UK Evening Standard to downsize a third of jobs

Publisher of the free newspaper Evening Standard will cut a third of its personnel - 115 jobs - due to falling advertising revenues, writes the Guardian. In particular, 69 out of 167 journalists and editors will be fired, 31 more employees will be fired from the commercial department, and 15 - from...

Better Performance Of Its Bets To Likely Return SoftBank To Profitability

With the rise in value of the companies in which it had invested, it is expected that the Japanese investment conglomerate SoftBank Group will return to profitability in the first quarter. The company had reported record annual losses after the investments made through its Vision Fund had faltered...

China’s TikTok And WeChat Banned In US By Trump

United States President Donald Trump finally pulled the trigger on the Chinese video sharing app TikTok, banning all American companies from transacting with the app’s owning company China’s ByteDance. Trump also imposed sweeping bans on Tencent the owner and operator of messenger app WeChat...

Tencent to create $10B worth gaming platform

Chinese company Tencent Holdings Ltd. is in talks to merge two Chinese streaming gaming platforms - Huya Inc. and DouYu International Holdings Ltd. with the aim of creating a unified streaming service, Bloomberg reported, citing sources familiar with the matter. According to sources, Tencent...

Honda Motor's net loss in Q1 amounts to $763M

The net loss of the Japanese concern Honda Motor attributable to the company's shareholders in the first quarter of the 2020-2021 fiscal year ended June 30 was 80.871 billion yen (about 763 million dollars), although a profit of 172.3 billion yen was made a year earlier ( $ 1.6 billion), according...

EU Launches Probe Into Fitbit’s $2.1 Billion Acquisition By Google

The effort of Alphabet unit Google to purchase Fitbit has hit a hurdle in Europe as the antitrust regulator of the European Union has initiated a probe into the deal that is worth $2.1 billion. The deal is Alphabet’s effort to make a dent in the wearable technology market that is dominated by Apple...

Online Grocery Demand Soars In Middle East Amidst The Covid-19 Pandemic

The advent of the novel coronavirus pandemic in the Middle East has seen a “fantastic surge” in demand for online groceries, according to an executive of a United Arab Emirates-based retail chain, who also believes that the trend will continue in the future too.   Between January to June...

Technology companies report skyrocketing revenues for the "quarantine" quarter

Google, Amazon, Facebook and Apple have kicked off their second quarter corporate reporting season, which saw the most stringent restrictive measures due to the COVID-19 pandemic. The restriction measures have resulted in an explosive growth in the use of all kinds of Internet services, and for...
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