Facebook has reached out to academics and experts over plans to create an advisory body for elections around the world. This was reported by The New York Times (NYT), citing five sources. Two of them said that creating a third-party expert commission would allow the social network to avoid accusations of political bias. Facebook's election commission, in particular, would address issues of...

The number of applications for new companies in the U.S. has risen to a record high after decades of declining entrepreneurial activity. The coronavirus pandemic appears to have triggered a wave of entrepreneurial activity in the United States, which has seen a decline in startups for decades. The New York Times reported this, citing data from the U.S. Census Bureau. Last year, Americans filed...

China has announced the need to fight "excessive income", Chinese President Xi Jinping said during a meeting on financial and economic affairs. He called on citizens and companies with high incomes to "give more to society" so that "universal prosperity" can be achieved, as socialism demands.  "Universal prosperity is the prosperity of all people. It is the material and spiritual life of...

Net profit of Carlsberg Group, one of the world's leading beer producers, attributable to shareholders increased by 6% in annual terms in the first half of 2021 and reached 3.027 billion Danish kroner ($479.6 million), according to the company's financial statements. Diluted earnings per share for the six months were 20.9 kroner ($3.3) compared with earnings of 19.4 kroner ($3.07) a year earlier....

Australian company BHP Group - the largest mining company in the world - announced a merger of its oil and gas division with another Australian company Woodside Petroleum. Woodside will pay for these assets with its shares, so now a 48 percent stake in this company will belong to BHP shareholders. The current shareholders of Woodside will retain 52% of the shares. Thus, the oil and gas division...

The largest oil producer Saudi Aramco plans to buy shares of Reliance Industries holding owned by India's richest man Mukesh Ambani, Bloomberg reports referring to its sources. Reliance is also engaged in oil and gas production and refining. Saudi Aramco intends to enter Reliance through a $20 billion to $25 billion acquisition of a 20 percent stake. The deal will close in the coming weeks,...

Head of the Egyptian state company announced plans to begin preparations for an IPO, which could become the largest in the history of the country. The company was created to oversee the construction of Egypt's new capital. Early next year, Egypt plans to make the first steps towards the sale of a stake in the state-owned company Administrative Capital for Urban Development (ACUD). This is...

Reddit said it intends to hold another round of financing in the near future. During the round, the firm aims to receive up to $700M. Next, as noted in the company's blog, its estimated worth is expected to grow to $10B. It was earlier that Reddit started actively raising funds to grow and conquer new areas. At the time, the company's estimated value was $6B.  "There was a noticeable...

Cryptocurrency exchange BitMex, one of the world's largest crypto derivatives trading platforms, said it will pay a $100 million fine to U.S. regulators. This is how the company will settle charges brought by the Commodity Futures Trading Commission (CFTC) and the U.S. Financial Crimes Enforcement Agency (FinCEN). The reason for the large-scale proceedings was the illegal use of BitMex's platform...