Alibaba Group Holding Ltd. has sailed into headwinds in its plans to conquer China’s medical market by prescribing and selling drugs through an online platform. Chinese officials shut down a government-owned drug tracking system that was created and … [Read more...]
JPMorgan Chase & Co. (NYSE:JPM) Says ‘Brexit’ Could Trigger Euro Rally
JPMorgan Chase & Co. says the euro would likely rally if the U.K. votes to break away from the European Union. If voters in Britain decide they want to go it alone, it would trigger a 1.3% pop in the euro in trade-weighted terms, and a … [Read more...]
Wal-Mart Stores, Inc. (WMT) Can’t Catch Amazon.com Despite Heavy Marketing Spend
Wal-Mart Stores, Inc. has shelled out billions to boost its Web platform in order to rival Amazon.com, Inc. However, shareholders may not want to believe that e-commerce sales are tanking. The Bentonville, Ark.-based retailer reported Thursday that … [Read more...]
Wal-Mart Stores, Inc. (NYSE:WMT) Cancels MediaVest Deal
Wal-Mart Stores, Inc. has hit Publicis Groupe below the belt with the cancellation of its partnership with MediaVest, its media shop subsidiary. The account was valued at $900m, based on data compiled by Kantar Media regarding the amount that … [Read more...]
Amazon.com, Inc. (AMZN) Acquires Indian Payments Processor Emvantage
Amazon.com, Inc. has agreed to purchase Indian payments platform Emvantage Payments Pvt Ltd as it seeks to offer local customers an in-house payments processing platform. The deal, which was executed for an undisclosed figure, will see Emvantage’s … [Read more...]
Goldman Sachs Group Inc (GS), Morgan Stanley (MS) Likely to Buyback More
Goldman Sachs Group Inc and Morgan Stanley are likely to buy back more shares, according to analysts at JPMorgan. Citing their strong capital positions, analysts led by Kian Abouhossein, said they expect both of these banks to repurchase up to … [Read more...]
eBay Inc (NASDAQ:EBAY) Takes on Amazon With New Turnaround Strategy
eBay Inc has of late struggled to grow its revenues after its split from PayPal, but the good news is that the company has launched a turnaround strategy. During the Goldman Sachs Technology and Media Conference held in San Francisco a week ago, … [Read more...]
Deutsche Bank AG (USA) (NYSE:DB) Says Fed Holds Key to Market Revival
Deutsche Bank AG (USA) reckons the broad sell off across risky asset classes around the globe will only abate if the U.S. Federal Reserve alters its stance and starts to loosen monetary policy. Growth fears in China, fragile balance sheets in the … [Read more...]
Pfizer Inc (NYSE:PFE) Partners with Galvanize to Launch Health Accelerator
Pfizer Inc, through its business unit Pfizer Consumer Healthcare, has joined hands with education company Galvanize to establish a health tech accelerator. The program, set to run for six months, will be launched early March in San Francisco offices … [Read more...]
Yahoo! Inc (NASDAQ:YHOO) Finally Splits Tumblr’s Sales Team into Separate Unit
Yahoo! Inc. has finally caved in and decided to grant Tumblr some degree of autonomy by splitting off its sales team into a separate outfit. Tumblr, a hugely popular blogging service that Yahoo acquired for $1.1bn or about $3 per user out of the 300 … [Read more...]
Pfizer Inc. (NYSE: PFE) Unveils New Management Structure Ahead of Allergan Deal
Pfizer Inc. has unveiled its new management structure as part of its ongoing restructuring following its $160 billion purchase of Allergan Plc, which is due to be completed in the second half of this year. The new leadership team will see two … [Read more...]
Alphabet Inc (GOOGL) Grants Google CEO Pichai $199m in Stock Awards
Alphabet Inc. has granted Sundar Pichai, the chief executive officer in charge of its Google subsidiary, a restricted stock award worth $199m, making him one of the world’s highest paid corporate executive of a publicly listed company. Mr. … [Read more...]
Deutsche Bank AG (USA) (NYSE:DB) Feels Pain; Investment Bank in Focus
Deutsche Bank AG (USA) shares dropped sharply last session, losing as much as 10 percent of its value amid the broad hammering of the European financial space. Analysts say the German lender, which owns Europe's largest investment bank, is over … [Read more...]
Facebook Inc’s (NASDAQ:FB) Suffers Setback in India – Free Basics Given the Boot
Facebook Inc has suffered a setback in India after the nation’s telecom watchdog blocked its Free Basics internet service by arguing in favor of ‘net neutrality principle’ by banning differential pricing of data packages. Critics have been up in … [Read more...]
JPMorgan Chase (JPM) and Goldman Sachs (GS) Should Shield Against Recession
JPMorgan Chase & Co. and Goldman Sachs Group Inc should outperform going ahead because they already seem to have suffered the bulk of the pain associated with any potential recession, analysts at UBS said on Friday. Growing fears that any … [Read more...]
Alibaba Group Holding Ltd (NYSE:BABA) Sees a Rosy Future for Chinese E-Commerce Sector
Alibaba Group Holding Ltd has been investing aggressively in its Chinese backyard, and it has the right reasons for doing so despite economic slowdown in the Asian nation. Alibaba is Optimistic The e-commerce giant’s research division, … [Read more...]
Verizon Communications Inc (VZ) and Google in Cloud Alliance Talks: Rumor
Verizon Communications Inc. and Alphabet Inc’s subsidiary Google are rumored to be in talks over the possibility of creating a strategic alliance that will see the two companies jointly develop hybrid cloud services. The news first appeared … [Read more...]
Alibaba Group Holding Ltd (NYSE: BABA) Leads $800m Fundraiser for Magic Leap
Alibaba Group Holding Ltd has led the latest funding round for virtual reality startup Magic Leap Inc., which raised $793.5m. The exercise saw new investors such as JPMorgan Chase , Warner Bros., Morgan Stanley Investment Management and … [Read more...]
eBay Inc (EBAY) Finally Connects With Bigcommerce via eBayLINK App
eBay Inc has integrated its Australian platform with Bigcommerce, providing small retailers in Australia and New Zealand with potential market of tens of millions of new customers. The integration comes after two years of partnership that … [Read more...]
Yahoo! Inc. (YHOO) Goes to Court to Defend QPR System
Yahoo! Inc. was sued Monday by a former employee on grounds that its employee ratings system was used to fire its workers without issuing them with an advance notice, in violation of state and federal laws. Gregory Anderson, who previously worked … [Read more...]