Microsoft Awarded $21.9 Billion Contract with the U.S Army
Microsoft Corp. has won a deal worth up to $21.88 billion over 10 years to sell the U.S Army augmented reality headsets, according to Reuters. The headsets are based on…
Xpeng Sets Record with 3,600 km Autonomous Drive
Xpeng P7 fleet drove over 3,600 km from Guangzhou to Beijing with 2,930 km highway driving under the control of Navigation Guided Pilot, according to Businesswire. The fleet achieved an…
Deutsche Bank Sold $4 Billion in Private Deal to Escape Archegos Mess
Deutsche Bank AG sold about $4 billion of holdings in a private deal on Friday to escape the Archegos Capital Management scuffle, according to Bloomberg. The German bank executed the…
Goldman Joins Morgan Stanley as Top Global Banks Pursuing Digital Assets
Goldman Sachs is close to offering its first investment vehicles for Bitcoin and other digital assets to its wealthy clients, according to CNBC. The bank aims to begin offering investments…
India is Reportedly Luring Chipmakers with a $1 Billion Cash Offer
India is offering more than $1 billion in cash to each semiconductor company that sets up manufacturing units in the country, according to Reuters. The lure is part of the…
Biden Set to Unveil $2.25 Trillion Spending Amid Corporate Tax Hikes
President Joe Biden will unveil a $2.25 trillion US infrastructure plan on Wednesday, according to Bloomberg. The spending will be paid for by tax hikes, with corporate tax set to…
Hitachi Tumbles 7% on News it is Acquiring Global Logic for $9.6 Billion
Hitachi Ltd stock fell 7% on the Tokyo Stock Exchange on news that it will buy U.S software company GlobalLogic Inc. for $9.6 billion, according to Reuters. The deal value…
Chewy Releases Q4 and FY20 Results. Quarter Net Sales Jumped 51% YOY
Chewy generated the first quarter of positive net income of $21.0 million in Q4 2020 and first full year of positive adjusted EBITDA, according to the company’s press release. The…
Huawei Revenues Tumble for the First Time as Sanctions Hit
Huawei Technologies Co.’s revenue in the final quarter of 2020 fell by 11% to 220.1 billion Yuan or $33.5 billion. The slip in quarterly revenue is the first on record,…
British Food Delivery Start-up Deliveroo Stumbles on London Debut as Pressure Mounts
Amazon-backed food delivery start-up Deliveroo plunged about 30% on its stock market debut on Wednesday. According to CNBC, the slump reflects pressure from top investors and trade unions over workers’…
Shipping along Suez Canal Resumes but Bottlenecks Could Last Months
113 ships have crossed the Suez Canal in both directions since it was reopened late Monday after the 1,300-foot container ship was freed, according to the Wall Street Journal. Now,…
Asian Stock Lead Tumble as Markets Digest the Ripple Effects of Archegos Crisis
MSCI’s broadest index of Asia-Pacific shares outside Japan eased from a one-week high of 682.36 points to 678.22. The index is now down 2.2% for the month and is on…
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