Business

Red Hat

In order to expand its consulting business and technology hardware to higher-margins products and services, IBM Corp has agreed to acquire American software company Red Hat for $34 billion, including debt. On Sunday, the two companies released a joint statement, revealing that IBM will pay $190 in cash for each share of Red Hat. As reported in Reuters, IBM has a market capitalization of $114 billion and new transaction is by

Amazon Sales

Despite record profits close to $3 billion for the last three months, Amazon sales and sink to 8 percent in after-hours trading on Thursday. The world’s largest online retailer had crossed analyst expectation on earnings per share but missed on revenue estimates, which is projected to be slowest in years. According to analysts, while the online competition was rising, Amazon sales and international results were disappointing and the third-quarter sales failed

Magneti Marelli

Fiat Chrysler Automobiles (FCA) has agreed to sell its Magneti Marelli unit to KKR-owned Calsonic Kansei for $7.1 billion (6.2 billion euros). As reported in Bloomberg, it is the first biggest deal for Fiat under the new CEO Mike Manley who took over his boss Sergio Marchionne in July. On Monday, the companies stated that the new collaboration will be named Magneti Marelli CK Holdings. The unit specializes in powertrain,

Zuckerberg

Four leading U.S public funds holding shares in social media giant Facebook Inc co-filed a proposal to remove CEO Mark Zuckerberg as the company’s chairman on Wednesday. In 2017, shareholder Trillium Asset Management filed the proposal for an independent chair but was defeated due to Zuckerberg majority control. Following data privacy scandals associated with Facebook, State treasurers from Rhode Island, Illinois, and Pennsylvania together with the New York City Comptroller

Netflix

During July-September time period, Netflix attracted over 7 million new streaming subscribers which is three folds more than Wall Street had estimated. On Tuesday, now the world’s biggest online subscription video service released its quarterly earnings and revealed to have 137 million of total monthly membership worldwide which is about 2 million more than it expected. As reported in Reuters, shares of Netflix which was already 78% this year, surged

Sears Holdings

The 125-year-old U.S. retailer, Sears Holdings has declared bankruptcy on Monday after years of struggling through financial operations and relying on CEO Eddie Lampert’s own money. As a part of bankruptcy, the retailer will shutter its 142 stores by the end of the year while the liquidation sales is set begin shortly. Lampert will step down from the post of CEO, but remain chairman, and Sears would be appointing Mohsin

Digital Bank

Barclays Plc is set to compete with Goldman Sachs Group’s Marcus in the digital banking space, following the launch of a retail account offering US consumers low cost, digital-only bank and improved security of dealing with major financial institution. On Sunday, Financial Times reported that Barclays is planning to leverage its UK knowledge and expertise, citing Barry Rodrigues, Barclays International’s Head of Cards & Payments, to create a current or checking

Dialog Semiconductor

Dialog Semiconductor, Europe-based chipmaker has signed a deal of $600 with Apple. After growing huge interest in Dialog’s power-management technology, the iPhone manufacturer had offered $300 million for it. Apple has also put forward an additional $300 for Dialog Semiconductor certain assets including over 300 staff. According to news reports, this is one of the Apple’s largest investment in an outside company. News of the latest deal between Dialog Semiconductor

Europe Stocks

Europe stocks went sharply down on Thursday morning with mining, tech, and luxury firms leading the losses and lowered the pan-European Stoxx 600 by 1.8% during mid-morning deals. Steep losses in the United States, following a dramatic sell-off for equities on Wall Street had prompted Europe markets to be slumped to their lowest level in 20 months. Global equity market have lowered amid heightened fears over an estimated slowdown in

Pershing Square

Bill Ackman, CEO of Pershing Square Capital Management LP unveils $900 million bet on Starbucks at an investor conference on Tuesday. Currently, the activist hedge fund billionaire has 15.2 million shares on the world’s biggest coffeehouse chain. News of Pershing Square’s investment gave a push to the stock as Starbucks shares closed 2% higher at $57.71. Ackman is betting on Starbucks to overcome slow-moving sales in its home market. In