Friday, December 13, 2019

Marks & Spencer profits plunge 17% on poor clothes and home sales

Profits and revenue have slumped at Marks & Spencer after poor sales in its clothing and home departments. The retail giant (MKS.L) said pre-tax profits were down 17.1% in the first half of the financial...

Nokia and Microsoft get together for new alliance, 5 years after failed $7B smartphone...

It’s been more than five years since Microsoft’s $7 billion ill-fated acquisition of Nokia’s smartphone business, and now the companies are teaming up once again. The new partnership combines Microsoft’s expertise in cloud computing and...

Adam Neumann’s WeWork fall from grace may not be over yet

WeWork’s co-founder Adam Neumann’s public fall from grace is set to reach a new low. After being forced to step down as the chief executive in September by the company’s board, a new proposal...

T-Mobile and Sprint Merger gets regulatory approval

The proposed merger of T-Mobile and Sprint finally got approved by the Federal Communications Commission (FCC). The $26.5 billion deal should have been at the final stage, but the companies are facing a lawsuit...

Hong Kong Bourse rescinds $39billion offer for London Stock Exchange

Hong Kong Exchanges and Clearing Ltd (HKEX) made a $39 billion offer to purchase the London Stock Exchange Group (LSE) in early September, only to withdraw it less than a month later. The deal...

Porsche welcomes a Tesla Nurburgring lap attempt

The EV wars are heating up and Germany's vaunted Nurburgring Nordschleife is the new battleground. The new Taycan set a better-than-commendable 7:42, and Porsche welcomes the competition. The epic Nurburgring Nordschleife has been a performance...

How Facebook will pick the news you see in its app

Facebook is really hoping it will all go better this time around.  The company that keeps insisting it's not in the media business intends to launch a news tab in the coming months, and appears keen on staving off...

Hutchison considers merging Indonesian business with Axiata

Telco wants to combine Indonesian wireless business with the Axiata's local unit; negotiations are yet to take place Hong Kong-based Hutchison is considering merging its Indonesian telecommunications operation with that of Malaysian telecommunications conglomerate Axiata....

Alibaba acquires NetEase Kaola in deal worth $2 billion

Alibaba Group has acquired NetEase  Kaola for $2 billion, the two companies said today, and will integrate it into Tmall, creating the largest cross-border e-commerce platform in China. The announcement follows weeks of media reports about a potential deal, which...

Vodacom’s service revenue in South Africa dips 1.2% in Q2

The robust performance by its international operations’ has helped the company to offset South African revenue decline Vodacom has added 608,000 customers to its South African network in the second quarter, with an average of...

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