Companies & CEOs
Jack Ma starts appearing in public more frequently after year-long "disappearance" - 06/20/2023
Following a year-long "disappearance" due to pressure from Beijing on the company he founded, billionaire Jack Ma has returned to the public eye more frequently. After spending more than a year away from China, billionaire founder of Alibaba Group Jack Ma has started to make more public appearances. He participated in a championship round of Alibaba-sponsored math contest on June 17 in Hangzhou,...
Buffett's company grows stakes in Japan's five largest trading houses - 06/20/2023
A division of Warren Buffett’s Berkshire Hathaway company boosted its stakes in five Japanese trading firms. According to a Berkshire statement cited by CNBC, National Indemnity Company, a division of billionaire Warren Buffett's Berkshire Hathaway, has raised its shares in five Japanese trading companies to an average of more than 8.5 percent. These investments currently have a combined worth...
Toyota to receive $860M in subsidies to develop batteries for electric cars - 06/16/2023
The national government will provide approximately 120 billion yen ($860 million) in subsidies to Toyota, the largest automaker in Japan, to help it develop and manufacture cutting-edge batteries for electric vehicles, reports Kyodo news agency. The Japanese government has already committed to give Honda, a different Japanese company, roughly 160 billion yen ($1.1 billion) in April 2023 for the...
EU allocates funds for technology research to Huawei - 06/15/2023
The European Union has given the Chinese technology corporation Huawei €3.89 million for research and development of inventions under the Horizon Europe initiative, writes the Financial Times. Huawei is a participant in 11 projects funded by Horizon Europe's flagship research and innovation initiative and will get up to 14% of the funding, or €3.89 million. The company offers platforms for...
Chip developer Arm invites Intel to anchor investors ahead of $10 billion IPO - 06/14/2023
American Intel is in discussions to invest as an anchor in the IPO of British chipmaker Arm. According to sources, rival Intel and British chipmaker Arm Ltd., which is owned by Japan's SoftBank Group, are in discussions to invest up to $10 billion in an IPO in New York expected for late 2023. They pointed out that the conversations are in their early stages and do not guarantee a conclusion,...
U.S. watchdog ask to block Microsoft from buying Activision Blizzard - 06/13/2023
The US Federal Trade Commission requested that a judge halt Microsoft's acquisition of Activision Blizzard. The U.S. Federal Trade Commission (FTC) is requesting an injunction to prevent Microsoft from completing its acquisition of Activision Blizzard (publisher of Call of Duty, Overwatch, World of Warcraft, and other games). The regulator asked a federal judge to grant an injunction with a...
Foreign bank participation in China's IPOs fall to its lowest level since 2009 - 06/12/2023
Participation of foreign banks in Chinese initial public offerings has reached its lowest level in 14 years. They currently only make up 1.2% of the value of new products, down from more than 40% in 2009. According to statistics from financial markets platform Dealogic, foreign banks' involvement in initial public offerings in mainland China has reached its lowest point in at least 14 years....
France assumes full control of EDF energy company - 06/09/2023
According to a statement posted on the website of the French finance ministry on Thursday, France has completed the nationalization of energy business EDF. The company has also totally stopped selling its assets on the stock exchange. "In accordance with the Financial Markets Authority's conclusion from May 26, 2023, the state completed the process for withdrawing EDF shares today. As a result,...
Canadian competitor of OpenAI raises $270M in investment - 06/09/2023
A Canadian rival of OpenAI has secured $270 million from investors, including Oracle and Nvidia. Now, the artificial intelligence start-up company called Cohere is worth more than $2 billion. Canadian firm Cohere, which creates artificial intelligence technologies, has raised $270 million in funding. A number of institutional and strategic investors, including US chip and video card manufacturer...
Shell, Repsol and Petronas advertising banned in Britain - 06/08/2023
According to the Guardian newspaper, the UK Advertising Standards Authority (ASA) has prohibited various commercials from the UK-Dutch Shell, Spain's Repsol, and Malaysia's Petronas because they misled customers on the environmental performance of the businesses. The ASA said that Shell neglected to disclose to consumers that a large portion of its business relies on fossil fuels, such as...
