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Chinese artificial intelligence firm Megvii, backed by Alibaba (BABA), recently filed for an IPO with the Hong Kong exchange. The filing comes in the middle of Hong Kong-China conflicts and the US-China trade war. Why is Megvii so important? The artificial intelligence firm is backed by Chinese e-commerce behemoth Alibaba as well as several state-owned…
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Tesla (NASDAQ: TSLA) stock price lost 31% of value since the start of this year amid concerns related to trade tensions and rising competition in the EV industry. The stock is currently trading slightly higher from $200 level. China has been imposing tariffs on automakers in response to big tariffs from the U.S. on Chinese…
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Apple (NASDAQ: AAPL) stock price has regained investors confidence after hitting a 52-weeks low of $142 early this year. Its shares rose 33% since the start of this year; the stock is currently trading close to $210 – down only a few percentage points from an all-time high of $230 a share. The improving investor’s…
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Good times or bad times, gambling is one of the few sectors of the economy that continues to face all periods of economic boom and bust with equal vigor. Times have also proven that the industry is extremely flexible in adapting to new circumstances and even changing technology. If you don’t have any qualms about…
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WhatsApp, a platform owned by social media giant Facebook, is working with a variety of digital payment firms in Indonesia to try and utilize their services, reports Reuters. People familiar with the matter claim that the country is looking to grow its e-commerce space even faster. According to the publication, Indonesia would be the second…
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A blockchain startup focusing on customer relationship management (CRM) based in San Francisco, Cere Network, just brought in $3.5 million in a funding round, reports CoinTelegraph. Investors included but aren’t limited to Binance Labs – a subsidiary of the Binance cryptocurrency exchange – Neo Global Capital, Fenbushi Capital, Kenetic Capital, Alphabit Fund, Monday Capital, and…
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The Chinese online retail giant Alibaba is mulling over the timing of its public listing while political unrest in Hong Kong is growing. The company had planned a $15 billion listing in the city. The biggest offer this year Listed in New York, Alibaba Holdings also wanted to launch an offer in Hong Kong for…
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This day in trading started with some news-worthy developments coming from the United Kingdom: because of technical problems, the famous London Stock Exchange suffered its most prolonged outage in eight years, according to multiple reports. Shares trading was subsequently delayed in some of the country’s largest and most prominent firms. An unexpected software glitch caused…
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The Commodity Futures Trading Commission (CFTC) announced a $16 million penalty on Heinz Co and Mondelez International Inc. in a 2015 case related to wheat price manipulation. Wheat futures burn the companies Kraft Heinz (known as Kraft Foods in 2015), alongside Mondelez, bought December 2011 wheat futures worth $90 million. According to the CFTC, the…
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American EV manufacturing company Tesla is quickly becoming a favorite of short-sellers in the stock market. Elon Musk’s company’s shares have already dropped by 30% this year. Bears rejoice The constant tug of war between the bulls and bears has a decisive winner, at least for now. As far as Tesla is concerned, bears are…
