Daily Management Review
Business & Finance

South Korean Regulators Approve $4 Billion Woowa Acquisition By Delivery Hero But With Conditions

The $4 billion takeover of top South Korean food delivery app owner Woowa Brothers by Germany's Delivery Hero has been approved with the condition that the German company will have to divest its South Korean food delivery app Yogiyo.   This approval and the sale of Yogiyo will mean Delivery...

US giant Mars sets to produce pet food in China

US confectionery and pet food giant Mars plans to build Asia's largest state-of-the-art animal food factory in Tianjin in northeast China, Xinhua news agency reported. A construction launch ceremony for the project was held in Tianjin early last week. According to the plan, the plant will occupy an...

Bottom Lines Of Security Firms Boosted By SolarWinds Hacking Incident

Despite the fact that the United States based cyber security providing companies, including FireEye Inc and Microsoft Corp, were not able to prevent a huge network breach that came to the forefront this month in which numerous US agencies and companies were reportedly affected, the shares of the...

Alibaba's largest investor loses $22B worth of its stake amid Jack Ma's troubles

Japanese SoftBank, which owns nearly a quarter of Alibaba, lost $22 billion of the stake's market value as the Chinese company's share price fell 13% on Thursday. SoftBank founder Masayoshi Son invested $20 million in the fledgling e-commerce company of his friend Jack Ma in 2000. Japan's SoftBank...

US DOJ sues Walmart over country's opioid crisis

The US Department of Justice has filed a lawsuit in Delaware against the Walmart chain. The agency accuses the largest US retailer of violating drug laws. "We hold distributors and pharmacists responsible for ensuring that controlled substances do not fall into the wrong hands. When regulations to...

Facebook’s Lawsuit Against Israeli Hacking Company NSO Joined By Microsoft, Google, Cisco And Dell

Facebook's legal battle against hacking company NSO was joined by tech giants including Microsoft and Google on Monday as the companies filed an amicus brief in federal court in which the companies warned that the tools of the Israeli firm were "powerful, and dangerous."   A new front in...

AirAsia X's Proposed Restructuring Would Result In Loss Of $5 Billion In Orders For Airbus

If the planned debt restructuring scheme of AirAsia X Bhd (AAX) foes through, the European plane maker Airbus SE will stand to lose more than $5 billion worth of aircraft orders, the company said.   Airbus has joined a dozen creditors who have come together to challenge the restructuring...

EU authorities approve $38B merger of Fiat Chrysler and PSA

On Monday, 21 December, the European Commission said it was giving its approval for the merger of two carmakers, Fiat Chrysler (FCA) and PSA. The merger would create the world's fourth-largest car manufacturer, so EU authorities were checking the deal for compliance with antitrust requirements....

Chinese companies raise six years-record funding at US IPOs in 2020

According to Renaissance Capital, cited by CNBC, Chinese companies, including those listed in Hong Kong, have raised $11.7bn in their IPOs in the US since the start of the year. This is the highest since 2014, when Chinese companies raised $25.7bn in IPOs on US exchanges. However, then Alibaba's...

Alibaba Claims Its Tech Won’t Be Used For Target And Identify Ethnic Groups

Recent reports about Alibaba Cloud developed facial recognition technology, which is also able to identify people on the basis of their ethnicity and is used as an attribute for tagging video imagery, was tagged in reports that claimed the technology was used to screen and identify Uighur Muslims...
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