Daily Management Review
Business & Finance

World’s First ‘Bitcoin City’ Planned By El Salvador

El Salvador says it plans to construct the first city in the world called "Bitcoin City."   The city, set to be constructed in the eastern region within La Union, will be powered by a nearby volcano the president Nayib Bukele announced recently.   The announcement was made during an...

Black Friday Sales This Year Set To Bear Last Year's Sales

The Black Friday sales are set to surpass the record-breaking sales over the last two years, new research suggests.   Barclaycard that processes around PS1 for every PS3 that is purchased using credit cards, announced that by 17:00 GMT at 17:00 GMT, there had been 23 more transactions than...

Assets From Distressed Chinese Developers Being Gobbled Up By Hong Kong Firms

After years of development in Hong Kong, cash-strapped Chinese developers are scaling back their presence in one of the world's most expensive real estate markets, allowing financial institutions in the city to snap up some of their holdings at bargain rates.   China Evergrande Group and...

Europcar Deal Is Attractive, Says Volkswagen As It Cancels Hopes For Higher Bid

Volkswagen virtually cancelled all hopes for a higher bid for France's Europcar as the German auto making giant said that it completely believed that the 2.9 billion euro ($3.3 billion) offer made for the French company, which was made as a part of an offer made by a consortium, was fair enough to...

Global Chip Shortage Forces Carmakers To Get Innovative

When it comes to buying computer chips direct from the manufacturer, re-configuring automobiles, or making chips with missing parts automakers must come up with new ideas to meet the shortage of semiconductors in the world.   The shortfall, caused by shortages in supply and an increase in...

China asks Didi to develop exit plan from the US exchange

China has demanded that taxi aggregator Didi develop a plan to leave the US exchange. If privatised, the company would have to buy back its shares from investors at a minimum IPO price that is 70% higher than the current market value. China's Cyberspace Authority has asked the management of taxi...

Fall art auction sales in New York reach record $2.65B

The autumn art auctions in New York set a record with sales exceeding $2.65 billion. The main reasons for this interest in art auctions are growing global prosperity, concerns about inflation and the rise of the art market in general. At the same time, art auctions are increasingly attracting the...

Daimler Will Use Berlin Factory To Make Its First In-House Electric Motor

Daimler announced on Thursday that it will build its first in-house electric motor at its oldest facility in Berlin, bringing solace to employees fearful that the diesel motor unit was on the verge of layoffs.   Workers who feared losing their jobs when Daimler said in September 2020 that...

Alibaba's net profit falls by 33.9%

Net profit of China's largest internet company Alibaba Group Holding for the six months of fiscal year 2020-2021 (ended September 30) fell 33.9 percent year on year to $7.839 billion, the company said in a press release. Diluted earnings per share were 2.3 yuan ($0.36), down from 3.48 yuan ($0.51)...

Evergrande to sell all shares in HengTen Networks Group

Managers of Evergrande Group, one of China's biggest developers on the verge of default, decided to sell all of its existing shares in HengTen Networks Group for HK$2.13 billion (US$273.16 million), Evergrande said in a statement to the Hong Kong stock exchange. Evergrande's subsidiary has entered...
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