Daily Management Review
Business & Finance

Tesla-Rival Volkswagen Boosts Outlook For Margin Again Following Record Profits

Reporting record earnings in the first half of 2021 that surpassed even pre-pandemic levels, German auto major and Europe's largest carmaker Volkswagen increased its profit margin target for the second time in less than three months.   A slew of targets and deals for the current year that...

Mastercard launches new project to support cryptocurrency start-ups

Mastercard has launched a programme to support cryptocurrency and blockchain start-ups. Seven projects have already joined and will have access to "collaboration opportunities, knowledge and tools for growth". Mastercard has announced the launch of a programme to support fast-growing companies that...

Biggest Cryptocurrency Scam Seen In South Africa?

AfriCrypt claimed it was a target of hacker before its founders disappeared while later investigation found that “the firm laundered its holdings in the form of Bitcoin”. Cryptocurrencies are in the process of creating a place for themselves in the economy, many reasons are in their favour while...

China's antitrust watchdog orders Tencent to terminate exclusive agreements for music

China's antitrust watchdog has ordered IT holding company Tencent to give up its exclusive agreements with music rights holders. It fined the company more than $77,000 for violations in its takeover of China Music and ordered it to report on compliance within three years. China's State...

Tencent Ordered By Chinese Regulator To Give Up Exclusive Rights In Online Music

Tencent Holdings Ltd will no longer be able to make exclusive music copyright agreements under orders from China's market regulator, while the company would also have to face a fine for engaging in unfair market practices in the online music market which it allegedly had started following its...

EV Startup Rivian Raises $2.5 Bln In Latest Funding Round Led By Amazon And Ford

A latest fund raising round led by investors Amazon.com Inc, Ford Motor Co and T. Rowe Price helped electric car startup Rivian to raise $2.5 billion, the company said on Friday.   An announcement of Rivian exploring options of setting up a second vehicle assembly plant in the United States...

Israel’s REE Automotive To Start EV Van And People Mover Production In 2023

Israeli electric vehicle startup REE Automotive plans to start production of an electric delivery van and a people mover in 2023, said a top executive of the company that on Thursday was given the green signal by its shareholders to get into as reverse merger arrangement with special acquisition...

Snap Comfortably Beats Estimates For User Growth And Revenues

A host of new features on the messaging app Snapchat attracted more users during its latest completed quarter and the growth rate was the highest since the late 2017as the company easily beat estimates of the Wall Street for the number of users and revenues.     The better than expected...

American and Southwest Airlines report profits for first time since pandemic starts

US civil aviation market leaders, American Airlines and Southwest Airlines, presented their financial reports for the second quarter of this year. For the first time since the COVID-19 pandemic they ended the quarter with a profit. A rebound in tourist traffic in the USA helped American Airlines...

Pharma companies to pay $26bn in US to settle 'opioid epidemic' case

On Wednesday, 21 July, an agreement was announced between the pharmaceutical company Johnson & Johnson and three of the largest US drug distributors McKesson, AmerisourceBergen and Cardinal Health on one side and several dozen US states and cities on the other. The companies agreed to pay a...
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