The Strategist
Companies & CEOs

Dutch authorities agree to reduce their shareholding in Air France-KLM - 04/07/2021

The Dutch government has agreed to reduce its stake in Air France-KLM in line with a deal between the company and the French government, according to a letter from Acting Dutch Finance Minister Wopke Hoekstra to parliament. In his letter, Hoekstra said that the Dutch government had agreed to reduce its stake in AF-KLM from 14% to 9.3%. According to the minister, the Netherlands will nevertheless...

Google wins multi-year copyright lawsuit against Oracle - 04/06/2021

The US Supreme Court has ruled that Google did not infringe the copyright of another US company, Oracle. This decision ends a long-running legal battle between Google and Oracle over this issue. Oracle sued Oracle back in 2010 charging that Google infringed its copyrights by using Java programming language in Android operating system. The lawsuit was filed shortly after Oracle bought Java...

Pinterest is in talks to buy VSCO - 04/05/2021

Pinterest is in talks to buy VSCO photo app, The New York Times has learned. The service, popular with zoomers, allows editing and sharing photos, with no likes, comments or ads. Pinterest is in talks to buy Visual Supply Company, developer of photo app VSCO. The New York Times reports this, citing two sources. According to them, the companies have not yet agreed on terms, and the amount of the...

Coinbase announces date of Nasdaq listing - 04/02/2021

One of the largest cryptocurrency trading platforms, US-based Coinbase Global, has announced a direct listing date on Nasdaq. The crypto exchange will be traded on the stock market from 14 April. U.S. crypto exchange Coinbase Global called the date of a direct listing of its shares on Nasdaq - it will begin on April 14. The Wall Street Journal reported this, citing the company and the...

Middle East's largest stock exchange begins inviting banks to participate in its IPO - 04/01/2021

Saudi's Tadawul stock exchange has begun inviting banks to participate in its upcoming IPO. The head of the Arab world's largest stock exchange, with a capitalisation of $2.5 trillion, promised to announce timing of this year's offering. The Saudi stock exchage Tadawul has started telling banks that they can offer their services as part of its upcoming IPO, three sources told Reuters. ...

TikTok owner valued at $250B on secondary market - 03/31/2021

ByteDance, which owns the TikTok service, has been valued at $250 billion on the secondary market, Bloomberg learned. This is more than Exxon Mobil and Coca-Cola are worth. The value of Chinese company ByteDance, which owns video service TikTok, has surpassed $250 billion in the secondary market, Bloomberg reported citing sources. Based on this valuation, ByteDance is worth more than US oil and...

UK food delivery service Deliveroo cuts its valuation by nearly £1B - 03/30/2021

British food delivery service Deliveroo, which intends to conduct an initial public offering on the London Stock Exchange in the first half of the year, has revised its offering price range. According to the Financial Times, Deliveroo will reduce its price range from £3.9-4.6 per share to £3.9-4.1 per share. Thus, the company's maximum valuation will drop from £8.8bn to £7.9bn. Deliveroo...

Goldman Sachs to issue Bitcoin debt instruments - 03/26/2021

Goldman Sachs, one of the world's largest investment banks, notified regulators of its intention to issue debt instruments linked to the activities of the ARKK index fund, which also deals with bitcoin, CoinDesk reports. The issue is expected to be $15 million, with repayments due in 2026 and payments on the debt instruments will depend on the performance of the ARKK fund. In early March, it...

Xiaomi's revenue grows by 20% in 2020 - 03/25/2021

The Chinese technology company reported fourth-quarter and full-year earnings for 2020. Last year, the company's revenue rose 19.4 percent to 245.9 billion yuan ($37.7 billion). Adjusted net income for the period rose 12.8% to ¥13 billion ($2 billion). Growth was even stronger in the fourth quarter, with revenues up 24.8 percent and adjusted net income up 36.7 percent. Xiaomi had a good last...

Chinese users criticise H&M for refusing to use cotton from Xinjiang - 03/25/2021

Social media users in China have criticised H&M for rejecting cotton from Xinjiang, which the company suggests is produced by the forced labour of Uigur Muslims. Major online retailers Tmall, Jingdong and Pinduoduo have joined the boycott, removing H&M clothing from their catalogues. Chinese social media users criticised clothing retailer H&M for a statement which the company released last...
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