Daily Management Review
Business & Finance

McAfee raises $720M during IPO

During the IPO, American antivirus software developer McAfee raised $720 million by selling 37 million shares at $20 (the price corridor was set at $19-21). The total value of the company is thus estimated at $8.6 billion. McAfee shares will start trading on NASDAQ on Thursday under the ticker...

PayPal introduces cryptocurrency payments

The international payment system PayPal will allow users to conduct transactions with cryptocurrencies. "The Company introduces the possibility to buy, store and sell some cryptocurrencies - first Bitcoin, Ethereum, Bitcoin Cash and Litecoin - directly through PayPal's electronic wallet. The...

Buffet's Berkshire Hathaway to pay $4.1M fine for violation of Iran sanctions regime

Berkshire Hathaway investment company, owned by billionaire Warren Buffett, will pay a fine to settle a dispute with the US Treasury Department about the violation of sanctions against Iran. One of the Turkish companies owned by the holding's subsidiary has been supplying instruments to Iran for...

Amazing Rising Trade Tensions, Growth In China Eyed By Daimler Chief

The German auto maker Daimler has identified China as the biggest growth market in the next decade for Mercedes-Benz, said the company’s Chief Executive, Ola Kaellenius.   But with continued rise in global trade tensions, the company also plans to adjust production locations to capture...

Chinese Firms Huawei And ZTE Banned From Upcoming 5G Networks By Sweden

The use of telecom equipment from China's Huawei and ZTE for development of the 5G network was banned by Sweden on Tuesday on security grounds. The country is slated to soon auction spectrums for 5G networks.   Sweden no joins other European countries that have already banned or restricted...

Intel sells flash memory factory to South Korean SK Hynix for $9B

Intel is selling its flash memory chip business to South Korea's SK Hynix (part of the SK Group). The contract is going to be $9 billion in all. The American company sells its NAND SSD business, its NAND manufacturing wafers and parts, as well as its factory in Dalian, China.  The...

Philips Beats Estimates For Q3 On Strong Covid-19 Medical Equipment Demand

The novel coronavirus pandemic drove global demand for hospital equipment needed to help patients battling the disease which helped the health technology company Philips to report much better than expected results for the recently concluded third quarter on Monday.   There was a 10 per cent...

Nestle Set To Sell Off Most Of Its Water Brands For An Estimated $5 Billion: Reports

In continuation of its strategy of exiting the slow-growth businesses, the largest food group of the world Nestle is all set to start off the process for selling off of its North American water brands including Pure Life and Poland Spring, said reports quoting sources familiar with the matter....

US to supply arms for $5B to Taiwan

The United States plans to supply Taiwan with modern weapons worth about $ 5 billion, Reuters reported, citing a source on October 13. It is noted that the presidential administration presented to the US Congress two additional types of weapons to the previously agreed list - the Taipei MQ-9 UAV...

Mallinckrodt Files For Chapter 11 Bankruptcy Under Opioid Epidemic Litigation

Mallinckrodt will be paying settlement amounts in instalments over a stretch of several years. On Monday, October 12, 2020, Mallinckrodt filed for acquiring “bankruptcy protection” as the company weighs under lawsuits that allege it to have facilitated the “U.S. opioid epidemic”. Moreover, in...
1 2 3 4 5 » ... 269