Daily Management Review
Business & Finance

LG Chem To Spinoff Its Battery Business As Demand For Electric Vehicles Rise

With the rise in global demand for electric vehicles and a consequent rise in interest in the battery sector that powers electric vehicles, its battery business will be spinned off by LG Chem in December.   The plans for creating a new subsidiary, which will tentatively called LG Energy...

Luckin Coffee and 43 other companies get $9M fine in China

China's chief market regulator has fined 61 million yuan ($ 9 million) two operating divisions of Luckin Coffee Inc. and 43 more companies that helped the coffee chain falsify sales and expense data. They were found guilty of violating the law on preventing unfair competition, Xinhua news agency...

China’s Global Times Says Beijing Unlikely To Approve Oracle, Walmart's TikTok Deal

The deal that the United States based companies Oracle Corp and Walmart Inc have claimed to have struck with the Chinese company ByteDance about the ownership of its Chinese short video sharing app TikTok is not likely to be approved by Chinese authorities because it is considered by Beijing to be...

Microsoft buys Bethesda for $7.5B

Microsoft Corporation announced purchase of game developer and publisher ZeniMax Media. ZeniMax's most compelling asset is Bethesda Softworks, the creator of popular games like The Elder Scrolls, Wolfenstein, and Dishonored, as well as the latest Fallout and Doom games. The deal amounted to $ 7.5...

Illegal Money Scandal: 25 Year Low For HSBC Stocks In Hong Kong While StanChart Sags

After reports emerged about HSBC, Standard Chartered Hong Kong and some other banks were engaged in moving large sums of money that had allegedly been illegally amassed over a period of almost two decades without any alerts being sounded about the origins of the money, shares of HSBC and Standard...

TikTok Will Be Its Subsidiary In New Deal With US Firms, China's ByteDance Says

Even though during the weekend, Oracle Corp and Walmart Inc said that they, along with the other United States based investors of ByteDance will own the majority of the short video sharing app TikTok after a deal was struck the US President Donald Trump’s administration, the Chinese owner of the...

North Korea related firms laundered nearly $ 175m through US banks

Firms related to the DPRK have legalized more than $ 174.8 million through US banks, bypassing sanctions, NBC News reported, citing bank documents. The documents reviewed by the channel are part of the dossier of BuzzFeed News, which received over two thousand confidential "suspicious transaction...

Novartis Becomes The First To Link Sustainability Bond To A ‘Social Goal’

Novartis’ bond sale raises “1.85 billion” euro to expand malaria and leprosy treatment. Novartis sold a bond for “1.85 billion euros” while the interest payments on the same could shoot up if the drug manufacturer does not manage to spread “medicines and programmes” accessibility for “malaria and...

Downloading Of TikTok And WeChat To Be Banned In US Starting Sunday

Starting this Sunday, Americans will no longer be able to down load the Chinese short video sharing app TikTok and the Chinese messaging app WeChat.    According to an order issued by the United States Commerce Department on Friday, no one in the country will be allowed to download the...

Uptick In Bank Mergers In Europe Signaled By Caixabank’s $5 Bln Deal For Bankia

Signals of an uptick in mergers among Europe’s banks even as they struggle from the impact of the novel coronavirus pandemic re available with the agreement of Bankia being acquired by Caixabank for 4.3 billion euros ($5.1 billion) in an all-share deal which will result in the creation of the...
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