Photograph: Shawn Goldberg/REX/Shutterstock In cities and towns around the world, darkened shopfronts and shuttered businesses have become an all-too-familiar symptom of the economic collapse triggered by the coronavirus pandemic. But while small businesses and local retailers struggle with lockdowns and restrictions, e-commerce giants like Amazon have raked in billions in […]
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How China apartment rental giant Danke saw its business crumble
The financial turmoil that crippled Danke Apartment, one of China’s largest online apartment rental platforms, spilled into streets across China in recent weeks as angry tenants clashed with landlords. Now employees are threatening to sue Danke, whose name means “eggshell” in Chinese, over unpaid wages. Danke faces disputes over 3.4 […]
Chinese E-Commerce Giant JD.com to List Health Unit in Hong Kong
Chinese e-commerce giant JD.com (JD) is preparing to list its online healthcare platform JD Health International in a US$3.4 billion initial public offering (IPO), which would make it Asia’s largest-ever healthcare listing. The stock sale would value the whole e-health clinic at US$28.5 billion if it prices at the top […]
Debut of Chinese e-finance giant derailed by fear of risks
BEIJING (AP) — The world’s biggest online finance company was racing toward a stock market debut when it was derailed by Beijing’s anxiety about risks in the fledgling industry, jarring global investors and deepening uncertainty about China’s financial markets. Regulators suspended Ant Group’s record-setting $34.5 billion stock offering two days […]
Market debut of Chinese e-finance giant Ant Group postponed
Zen Soo and Joe Mcdonald, Associated Press Updated 2:17 pm PST, Tuesday, November 3, 2020 In this Friday, Oct. 23, 2020 photo, the figure of Ant Group’s mascot is displayed at the Ant Group office in Hong Kong. China’s Ant Group will try to raise nearly $35 billion in its initial […]
Ahead of giant IPO, China’s Ant faces key question: What is it? | China News
China’s Ant Group, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant? That is important for investors before and after the initial public offering of $34.4bn, surpassing Saudi Aramco’s record $29.4bn […]
A $433 Billion Wall Street Giant Has a Reputation Problem. It’s Josh Harris’s Job to Fix It.
Josh Harris, the co-founder of Apollo Global Management Inc., obsessively weighs the risks and implications of decisions he makes: whom to hire for a role at the private-equity giant, whether to move forward with an investment or which trades to make to fill out the roster of the Philadelphia 76ers, […]
An Emerging Internet Giant in China
TipRanks 3 Monster Growth Stocks Gearing up for Gains Which stocks are always on investors’ wish lists? Growth stocks. Time and time again, the pros on the Street point to tickers with above-average growth prospects as must-haves, as they stand to deliver major rewards in the long run. We really […]
Beauty Giant Natura Gets $1 Billion to Boost Avon Turnaround
Photographer: Dado Galdieri/Bloomberg Photographer: Dado Galdieri/Bloomberg Cosmetics maker Natura & Co Holding SA raised 5.61 billion reais ($1 billion) in an equity sale that will help it make the most out of its purchase of Avon Products Inc. The Sao Paulo-based firm sold 121.4 million voting shares at 46.25 reais […]
Michigan’s first giant vehicle vending machine opens
NOVI, MI – You can’t miss the huge tower from the highway filled with automobiles. This is Michigan’s first giant vehicle vending machine known as Carvana. Located in Novi at the Adell Center off of I-96 and Novi Rd. next to the newly opened Texas Road House, Carvana is a […]
Razer CEO on how the gamer giant plans to spend its $500m cash amid record results
Billionaire Tan Min-Liang, chief executive officer and co-founder of Razer. Photo: David Paul Morris/Bloomberg/Getty Global gaming ecosystem giant Razer (1337.HK), worth HKD $15bn, just unveiled record results — pushing the company into profitability, wiping out debt, and giving it a hefty cash balance of USD $500m. While it originated as […]
Razer CEO on how gamer giant plans to spend its $500m cash balance amid record results
READ MORE: World’s largest gamer firm Razer unveils record-high revenue of $447.5m during pandemic For the six months ending June 2020, Razer reported record high revenue of $447.5m, representing 25.3% year-on-year growth during the coronavirus pandemic period. Gross profit margin also improved to 22% and cashflow from operating activities turned […]
Napster’s New Bosses Want To Make A New Kind of Music-Streaming Giant
“We want to give consumers what we think is a really differentiated offering with music content — whether that’s a live show or an album,” MelodyVR CEO Anthony Matchett tells Rolling Stone. “We want to put all that in one place. For a long time we thought it’d be wonderful if, […]
Pro Wrestling Legend Kamala The ‘Ugandan Giant’ Dies Of Coronavirus
James Harris, a former professional wrestler best known as Kamala, the “Ugandan Giant,” has died. He was 70. “Unfortunately, the rumors were correct,” Kenny Casanova, coauthor of Harris’ autobiography, Kamala Speaks, wrote on Facebook. “To make matters worse, it was Corona that took him; he was one of the good ones.” Harris shot to […]
Lysol sales surge as the condom business goes limp under lockdown, consumer goods giant reports
Reckitt Benckiser Group Plc said Covid-19 has prompted consumers and companies to make lasting improvements in their cleaning routines, boosting prospects for future sales of its disinfectants and sanitizers. Lysol sales surged about 70% in the first half in North America, and professional demand has been so strong that the […]
Delivery giant to hire 10,500 amid UK online shopping surge
Delivery giant Hermes says it will create 10,500 jobs in the UK after seeing a surge in demand from people shopping from home during lockdown. This will include 1,500 full-time roles across its delivery network and head office, and 9,000 freelance couriers. Hermes also said it would not accept any […]
Google is investing $4.5 billion in India’s mobile internet giant Reliance Jio and the 2 will make a new affordable Android phone
Google CEO Sundar Pichai with his wife and engineer Anjali Pichai as they arrive to attend the wedding ceremony of Akash Ambani, son of Indian businessman Mukesh Ambani, in Mumbai on March 9, 2019. SUJIT JAISWAL/AFP via Getty Images Google is to invest $4.5 billion into Indian internet company Jio […]
How Ocado went from understated British grocer to an $18.4 billion tech giant, as the coronavirus pandemic confirms the future of grocery shopping is online
“Bots” are seen on the grid (or “The Hive”) of Ocado’s “smart platform” in Andover, Britain, on May 1, 2018. REUTERS/Peter Nicholls As grocery stores worldwide experienced stockpiling, long lines, and health worries amid the coronavirus pandemic, millions of people turned to shopping online. It has been a goldrush for […]
How Ocado went from understated British grocer to a $18.4 billion tech giant, as the coronavirus pandemic confirms the future of grocery shopping is online
“Bots” are seen on the grid (or “The Hive”) of Ocado’s “smart platform” in Andover, Britain, on May 1, 2018. REUTERS/Peter Nicholls As grocery stores worldwide experienced stockpiling, long lines, and health worries amid the coronavirus pandemic, millions of people turned to shopping online. It has been a goldrush for […]
At gaming giant Ubisoft, major executive changes after allegations of harassment, misconduct
Ubisoft, the publisher behind video game brands such as “Assassin’s Creed,” “Watch Dogs,” “Far Cry” and “Just Dance,” revealed Saturday that a number of top executives would be stepping down from the company. The changes come after Ubisoft was accused of an array of sexual and workplace misconduct, which had […]