Business

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

vudu

Walmart, America’s multinational retail corporation, is taking up its original entertainment segment, in partnership with U.S. movie studio Metro Goldwyn Mayer (MGM). Eight years ago, the retailer bought Vudu, a video-on-demand service, and has been looking up to boost its monthly viewership. Under this partnership, MGM plans to create exclusive content based on its entire film and TV catalog which will be premiered exclusively on the Vudu platform. Vudu plans

Driverless Car

Toyota will team up with SoftBank to transform transportation through self-driving driverless car vehicles. The two premier companies are forming a new joint venture called MONET, a shorter version of mobility network and potential car services. This new venture is anticipated to be formed by April 2019 and will begin with two billion yen. SoftBank will own more than 50% of the business, while Toyota holds the rest of MONET.

Offshore Wind

Scope for organizations to get engaged with the UK’s rapidly developing offshore wind supply network are being featured in another plan by the previous CEO of Formula One group and McLaren Group Martin Whitmarsh. The Offshore Wind Industry Prospectus projects the growth of huge international market in terms of money, in which UK organizations are winning contracts to take a shot at the ventures all over the world. The UK

SoftBank

A $200 billion plan to create the world’s biggest solar-power-generation project by Saudi Arabia in partnership with SoftBank Group Corp has been put on hold. According to the Wall Street Journal (WSJ) report, Japan’s SoftBank had announced a plan to invest in Saudi Arabia’s solar project in March, 2018. The project was anticipated to produce about 200 gigawatts (GW) of power by 2030 which is three times more than what

Tariffs

The aluminum and steel tariffs levied by the Trump Administration took nearly US$ 1 billion in profit from Ford Motor Co, the irony of this being that the company sources most of these profits from the U.S. Hackett has encouraged the President Trump’s administration in resolving trade disputes as soon as possible, as it could further the damage to the company. Hackett states that the company is already suffering from

Instagram Co-founders

To explore their curiosity and creativity again, Instagram co-founders Kevin Systrom and Mike Krieger have confirmed to leave the firm. With more than a billion users, Instagram was founded in 2010 and purchased by social media giant Facebook in 2012 for $1 billion in cash and stock where the co-founders continued to run the service. In a statement, published on 24th September, 2018, Mr Systrom, chief executive appreciated his tenure of

Comcast

Comcast beats its long-term rival Twenty-First Century Fox in an auction to purchase British Broadcaster Sky, valued at $39 billion. In the rare auction held by British regulators, the U.S. based cable giant offered £17.28 ($22.59) share which surpassed Fox’s offer of £15.67 (over $20) after three rounds of bidding. The bidding battle between two of America’s largest media companies over the coveted overseas competitor lasted for a long period,

Trade War

Two of the World’s largest economies dove deeper into a trade war post Beijing’s move on including US$ 60 billion of products from the United States in its import tariff list. This was in retaliation for President Trump’s planned charges on Chinese goods worth US$ 200 billion. Tariffs on Chinese products would begin from 10 percent and increase to 20 percent by 2019. Partly relying on Section 301 of the

Time Magazine

The 20th century’s preeminent weekly newsmagazine, Time Magazine, will soon have a new abode as it is being sold by the Meredith Corp. to Salesforce.com’s co-founder Marc Benioff along his wife. The popularity of Time has prevailed in light of its unique storytelling with regard to issues & people that connect as well as affect the global population. This definitive agreement to sell Time media brand to Benioffs is evaluated