Toshiba shares gain for a third straight session on Wednesday, key shareholder calls for alternatives to CVC bid

April 14, 2021 7:53 am
According to a statement by Toshiba Corp. (6502), one of its key shareholders is calling for the consideration of other offers from potential suitors following CVC Capital Partners’ buyout bid of $20 billion. US hedge fund Farallon Capital Management said that the Japanese company should consider “the privatisation proposal in a sincere manner through a […] Read more

Shell’s first-quarter fuel sales likely to drop, fuel retailer says

April 8, 2021 7:01 am
Royal Dutch Shell said on Wednesday that it projected a drop in its fuel sales during the first quarter, which indicated fuel demand recovery was still sluggish due to the re-imposition of COVID-19-related restrictions in some parts of the globe. The fuel retailer said that it now expected refined oil product sales within the range […] Read more

Stripe opens an office in Dubai, its first expansion in the Middle East

April 7, 2021 9:30 am
Fintech firm Stripe said on Tuesday that it had opened an office in UAE’s financial capital Dubai, its first expansion in the Middle East. Stripe also said that it was entering the market in a tie-up with payments processor Network International, based in Dubai. Established a decade ago by brothers Patrick and John Collison from […] Read more

General Motors shares gain for a third straight session on Tuesday, Wells Fargo initiates coverage on stock with “Overweight” rating, $67 price target

April 7, 2021 7:44 am
Wells Fargo has initiated coverage on General Motors Co (GM) with an ”Overweight” rating, as it said the US auto maker was well positioned for the electrification of the automobile industry. The Wall Street bank also assigned a 12-month price target of $67, which is based off a 4 times multiple of 2022 core EBITDA […] Read more

Microsoft shares gain for a second straight session on Thursday, company mitigates an outage with Microsoft 365 services

April 5, 2021 7:32 am
Microsoft Corp (MSFT) said last week that an issue with its Microsoft 365 services and features, including Teams and Azure, had been mitigated, after many users had no access to them. An earlier report by outage tracking website Downdetector stated that more than 8,000 users had reported issues with Microsoft’s Teams workplace messaging app. “We […] Read more

Alphabet shares close higher on Wednesday, Google to set aside EUR 25 million for a new fund to combat misinformation

April 1, 2021 7:25 am
Alphabet Inc’s Google said on Wednesday that it would contribute EUR 25 million to the newly established European Media and Information Fund in an attempt to combat misinformation. There was a significant surge in fake news surrounding the COVID-19 pandemic and the US presidential election last year, while the social media faced some major criticism […] Read more