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Companies are once again resorting to poison pills to avoid hostile takeovers after their share prices tumbled during the coronavirus crisis, a report said. California-based consultancy firm Veritas highlighted that companies in the US were again using poison pills, moves that can allow existing shareholders to buy preferred shares at a substantial discount, thereby diluting…
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The consequences of Brexit are starting to emerge for builders in the UK, as real estate investors from across Europe shun London’s rental market amid worries of the country’s leaving, according to housebuilder Berkeley Group. European buyers have made up nearly 5% of Berkeley’s customers in the past, but now they roughly account for just 1%…
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Amazon chief executive Jeff Bezos (pictured) is willing to testify in an antitrust investigation before Congress as the US government looks into the market power of Big Tech. Bezos, the richest person in the world, is facing regulators at home and aboard. The latest development, confirmed by Bezos’ lawyer in Sunday, comes after Amazon resisted…
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A senior Deutsche Bank executive said the fallout from the coronavirus pandemic could speed up mergers and acquisitions across Europe’s fragmented banking sector. “We regularly explore what there is on the acquisition market, but first we have to consolidate internally and get the new international private banking business on its feet,” said the head of…
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Five companies have lined up their IPO (initial public offering) pricing plans this week, as the US stock market bounces back from March lows caused by the coronavirus shutdowns. Royalty Pharma, Therapeutics Holdings, Biotech Progenity, Repare Therapeutics, and Genetron Holdings are expected to give further details on the billion-dollar-plus IPOs this week. All five are…
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Foreign state-owned firms looking to buy European companies may face probes to see if they are taking advantage of unfair subsidies, said European Union (EU) antitrust chief Margrethe Vestager (pictured). “They [foreign subsidies] come without us knowing, they come without checks, there is a high risk that they will fragment the single market or unlevel…
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As podcasts continue to establish in the mainstream, major publishers have emerged as top players accounting for almost one billion streams and downloads within a month. Data gathered by Learnbonds.com indicates that in May 2020, only ten podcast publishers attracted a whooping 893.78 million streams and downloads. iHeartRadio, a free podcast, and radio platform top…
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Stock in UK drugmaker AstraZeneca is almost 2.5% on Monday following a weekend report of a possible $96bn merger with US rival Gilead in what would be the world’s largest healthcare deal. The larger British firm, led by chief executive Pascal Soriot (pictured), informally approached Gilead last month about a tie-up, reported Bloomberg News on…
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Smart devices and a booming global eCommerce market have driven the rapid adoption of digital payments worldwide. Digital payments have changed the payment industry traditionally dominated by cash and credit cards, offering consumers lower fees and faster transfers at the touch of a button. As one of the first and biggest players in the digital…
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The valuations of Beijing-based ByteDance, the parent company of TikTok, surged 33% topping $100bn in recent private share dealing, reflecting investor’s confidence in its ad-based business model. ByteDance valuations even hit $105bn to $110bn level at one stage in the secondary markets, said Bloomberg News without citing sources, making it the world’s most valuable startup….
