Daily Management Review
Business & Finance

Record number of tech IPOs cancelled due to campaign against Alibaba founder

The Financial Times estimates that Chinese fintech companies have been abandoning their IPOs en masse following the scandalous cancellation of fintech company Ant Group's IPO. Ant Group is a division of internet giant Alibaba of Chinese multibillionaire Jack Ma and owns China's largest payment...

Tesla customers lose tens of thousands of dollars because of double payments mistake

The сar giant debited tens of thousands of dollars from bank accounts without customers' permission or warning. The amounts ranged from $37,000 to $71,000. Experts noted that double payments are a common problem in e-commerce and banking. One customer told the publication that he immediately...

Microsoft Secures U.S. Army Contracts Worth Over $20 Billion

Microsoft has been involved with the Army working on the “prototyping phase” of the “Integrated Visual Augmentation System”. On Wednesday, March 31 2021, Microsoft bagged a deal of selling the “augmented reality headsets” to the U.S. Army which will base on its “HoloLens product” while receiving...

PayPal launches cryptocurrency payments

PayPal added the option of paying for goods and services in cryptocurrencies for US customers. After confirming the transaction, the service will exchange the cryptocurrency for regular dollars at its internal exchange rate, which already includes the cost of conversion. PayPal has added...

Ford To Update Its Profit Forecast

Earlier Ford stated that its “operating profit” could take a beating and get “reduced by $1 billion to $2.5 billion”. Ford Motor Co is going to give an update on “April 28” corresponding to its “2021 profits” taking “expected hits” due to the shortage of chip supply experienced on a global scale....

Suez Canal Blockage Could Cost Lloyd’s Nearly ‘$100 Million Or More’

Lloyd’s also informed that there was “10.8%” rise in premium rates last year, while the upward rising momentum of the graph continues even in 2021. Lloyd’s of London is going to face “large loss” due to the Suez Canal blockage lasting for “nearly week”, while the insurance market already faced a...

French court fines Servier €2.7 million for a drug causing hundreds of deaths

A high court in Paris has handed down a verdict in one of the most high-profile cases in France's pharmaceutical industry, Le Figaro reports. Servier, which produced a weight-loss drug Mediator, was fined €2.7m for "fraud" and "unintentional killing and injury", although the prosecution had asked...

Adevinta and eBay To Sell British Unit To Secure Regulatory Approval

The CMA pushes Adevinta and eBay to mitigate regulatory concerns before moving ahead with “$9.2 billion deal”. eBay, an e-commerce group from the U.S. along with Adevinta of Norway have decided to sell out “three smaller British units” in an attempt to receive “regulatory approval” for a tie-up of...

GE Reported Surge In Cashflow

In comparison, analysts at Refinitiv had estimated an average of “$3.03 billion for 2021 and about $2.6 billion for the latest quarter”. General Electric has come out with an “upbeat outlook for its business” as it reported an increment in “quarterly free cash flow”. The industrial conglomerate’s...

Volvo Joins The Race Towards Electrification By 2030

It is going to cost the auto makers more to turn their vehicles into electric ones. Volvo has decided to turn its “entire car lineup” 100% electric within the coming decade. Keeping 2030 as the aim, the company will be part of the trend wherein more and more auto manufacturer plan to “phase out...
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