Thursday, Aug 11, 2022 - 22:54:01
45 results - (0.024 seconds)

the company’s stake:

latest news at page 1:
1
    BERLIN (AP) — German energy company Uniper says it’s agreed to a rescue package with the government, which will take a 30% stake. Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    London (CNN Business)British taxpayers now officially hold shares in a company that throws sex parties. A government loan provided to Killing Kittens to help it through the pandemic has converted into an equity stake in the company, the British Business Bank confirmed on Tuesday. Killing Kittens, which organizes women-led adult parties in cities including London and New York, secured the investment in 2020 from the UK government's Future Fund, which was designed to help startups survive the coronavirus pandemic.The company was founded by Emma Sayle in 2005, and organizes members-only parties in exclusive venues where "established gender stereotypes" are challenged, according to its website. It recorded a 330% increase in traffic to its website during coronavirus lockdowns, and now calls itself "the fastest-growing adult social network." At one point, the pandemic forced the company to move all its events and workshops online, accelerating existing plans to enter the sex tech industry — a fast-growing sector that encompasses products and businesses focused on enhancing sexual experiences.Read MoreKilling Kittens now has a mobile app that allows users to meet each other "for...
    VIDEO0:5400:54Markets set to open higher after Monday's lossesMorning Report Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike fell 2.4% in premarket trading despite reporting better-than-expected quarterly profit and revenue. The athletic apparel and footwear maker forecast current-quarter revenue below analysts' estimates amid increased promotional activity and ongoing disruptions in its profitable Chia market. Spirit Airlines (SAVE) – Spirit added 4% in the premarket as the battle to buy the airline intensifies. JetBlue (JBLU) responded to Frontier Group's (ULCC) latest improved offer by sweetening its own bid, adding a monthly pre-payment of 10 cents per share between January 2023 and the deal's close, as well as a $50 million breakup fee increase to $400 million and a $2.50 per share payment when the deal is approved. Frontier rose 2.7%, while JetBlue edged lower by 0.3%. Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC), Wells Fargo (WFC) – These banks raised their dividends after passing their annual stress tests, but JPMorgan Chase (JPM) and Citigroup (C) kept their payouts flat. Morgan Stanley...
    In this article BAA United Launch Alliance Atlas V rocket with Boeing's Starliner spacecraft aboard is seen as it is rolled out to the launchpad for the OFT-2 mission scheduled to lift off on May 19, 2022.Joel Kowsky | NASABoeing is set to make another attempt to reach the International Space Station with its Starliner capsule Thursday, nearly two and a half years after the company's first mission fell short. Boeing has been developing its Starliner spacecraft under NASA's Commercial Crew program, having won nearly $5 billion in contracts to build the capsule. The company competes under the program against Elon Musk's SpaceX, which completed development of its Crew Dragon spacecraft and is now on its fourth operational human spaceflight for NASA. Boeing's development of Starliner has run into several obstacles over the past three years. Its first uncrewed mission in December 2019, called the Orbital Flight Test (OFT), ended prematurely after a software malfunction saw the capsule end up in the wrong orbit. NASA noted earlier this year, after an investigation into the issue, that Boeing's software development...
    Masayoshi Son speaks during a joint announcement with Toyota Motor to make new venture to develop mobility services in Tokyo in October 2018.Alessandro Di Ciommo | NurPhoto | Getty Images Japanese tech conglomerate SoftBank intends to keep a majority stake in U.K. chip designer Arm when it lists the company through an initial public offering. Masayoshi Son, SoftBank's CEO, confirmed the news Thursday following a report from Bloomberg last month that cited people familiar with the matter. Son said that SoftBank plans to list Arm as soon as possible, but he added that the company is willing to wait if stock markets continue to be volatile. In February, Son said Arm will likely be listed within the fiscal year ending March 31, 2023. The billionaire declined to comment on what valuation he's seeking for Arm, whose energy efficient chip architectures are used in most of the world's smartphones and many other products. SoftBank was set to sell Arm to U.S. chip giant Nvidia for $40 billion but the deal was scrapped in March amid intense scrutiny from competition regulators in...
    It has been one of the most dramatic takeover attempts in history, seeing a swashbuckling billionaire pitted against one of the largest tech giants in the world. But Elon Musk's seizing of Twitter has been a months-long pursuit that has seen him send shockwaves through the world of business. The Tesla magnate started hoarding shares in the social media firm at the start of the year in an apparent bid to preserve free speech online. He quickly rocketed to the top of its shareholders' list, acquiring a huge nine per cent stake in the tech giant. But then he hit choppy waters, accepting a place on the board then rejecting it, getting embroiled in lawsuits and seeing rival companies circle to buy Twitter. Meanwhile bosses at the social media firm appeared to do all they could to ensure he could not not seize it - even launching a 'poison pill' strategy to sink his chances. Yet Musk brazenly blasted through all the obstacles, punting a $43billion offer earlier this month and showing how he would finance it. As the entrepreneur looks set to...
    Elon Musk has warned that Twitter's board of directors will face 'titanic' legal liability if they go against the interests of shareholders in rejecting his $43 billion hostile takeover. Twitter's board met for several hours on Thursday afternoon to discuss Musk's offer, and are reportedly considering several options to block the bid. A formal response is could take several days. Responding to reports that the board is mulling a 'poison pill' plan that would prevent him from increasing his stake in Twitter, Musk tweeted: 'If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty.'  'The liability they would thereby assume would be titanic in scale,' he added, apparently referring to potential shareholder lawsuits. Twitter CEO Parag Agrawal, who also holds a board seat, insisted that the company was not being 'held hostage' by Musk as he sought to reassure panicked employees at an all-hands meeting on Thursday. Elon Musk has warned that Twitter's board of directors will face 'titanic' legal liability if they go against the interests of shareholders in rejecting his...
    Billionaire entrepreneur Mark Cuban has claimed that Elon Musk is 'f****** with the SEC,' engaging in an elaborate scheme to drive up the value of his Twitter shares before selling them at huge profit. Cuban, 63, has been closely following Musk's moves in relation to the social media company, which Musk on Wednesday announced he wanted to take private for $43 billion. Musk's interest in Twitter has been fast and furious. On March 14, he purchased 73,486,938 Twitter shares, or 9.2 percent of Twitter, for about $3 billion. The news was made public in a Securities and Exchange Commission (SEC) filing on April 4, and Musk became the largest shareholder. Musk began speculating about changes to the site - renaming it 'Titter', adding edit buttons - and musing about converting the company's headquarters into a homeless shelter. He even wondered whether Twitter had a future. Cuban on Thursday said he has been watching with amusement, and concluded it was all part of an elaborate plan of Musk's to toy with the SEC. 'My conclusion, @elonmusk is f****** with the SEC,'...
    In this article TWTRElon Musk's Twitter profile displayed on a computer screen and Twitter logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on April 9, 2022.Jakub Porzycki | Nurphoto | Getty ImagesA group of Twitter shareholders are suing Elon Musk for allegedly failing to disclose he had bought a significant stake in the social media company in the right timeframe. The Tesla and SpaceX CEO revealed on April 4 that he had amassed a 9.2% stake in Twitter, leading shares to soar as investors viewed the move as a vote of confidence. But his disclosure may have been too late. Federal trade laws dictate that investors must inform the Securities and Exchange Commission within 10 days when they take a more than 5% stake in a company. Musk, who started buying Twitter stock in January, allegedly hit this milestone on March 14, meaning he should have informed the SEC by March 24. A representative for Musk, the richest person in the world, did not immediately respond to a CNBC request for comment. The...
    Billionaire Elon Musk is being sued by a Twitter shareholder who claims the Tesla CEO's delay in disclosing his more than 5 percent stake in the social media giant allowed him to buy shares at a lower price. Marc Bain Rasella filed the lawsuit against Musk for alleged securities fraud in Manhattan federal court on Tuesday, according to a Bloomberg report.  The suit claims the billionaire was required to disclose his holdings to the U.S. Securities and Exchange Commission by March 24, but the delay kept Twitter's share price down allowing Musk to buy more shares at a lower price.  Musk revealed last week that he had become Twitter's largest shareholder, with a 9.2 percent stake in the company.  Rasella said that when Musk finally disclosed his stake in Twitter, the company’s shares went up 27 percent, from $39.31 on April 1 to $49.41.  But due to the delay in Musk's filing, he had already scooped up shares at a deflated prices, the suit alleges.   Since the announcement Twitter's share price has fallen and as of Tuesday morning was trading at $45.83...
    New majority Twitter shareholder Elon Musk issued a poll to his millions of followers on the social media platform Saturday, sarcastically asking if he should transform the company's Silicon Valley headquarters into a homeless shelter.  In the post, Musk - who purchased a 9.2 percent stake in the social media giant earlier this week and was subsequently named to the company's board of directors - seemingly took aim at the company's lax remote working policies, saying he came up with the plan 'since no one shows up anyway.' So far, the results of the 24-hour poll, posted at 9:30 PM ET by the billionaire businessman, suggests overwhelming support for the prospective undertaking - with 91.8 percent of more than 523,114 respondents voting in favor of the plan within two hours of its posting.   The post from the outspoken Tesla CEO, known for his social media antics, comes weeks after Twitter brass - who offered staffers the option of working from home 'forever' during the pandemic -  reopened its offices March 15, with remote work remaining an option for staffers. In the post,...
    Real Time host Bill Maher supported Tesla CEO Elon Musk's latest move to joining Twitter's board of directors, saying the richest man in the world could put an end to the social media platform's 'control' on free speech.  Taking questions from viewers on Friday, Maher addressed one submission that asked him and his guest, New York Times writer David Leonhardt and author Nancy MacLean, what their thoughts were on Musk becoming Twitter's largest-single shareholder when he purchased 9.2 percent of the company on Monday.   'I'm for it,' Maher said.  When his guests voiced their reservations, Maher explained that he believed Twitter has gotten so ingrained into our lives and daily discourse, that it could no longer ban users as it would amount to suppression of free speech.  'We live in a different age where Twitter is the public square now,' Maher said. 'If you deny someone's right to speak on Twitter, you're basically saying you don't have free speech rights.'  'I think that's what Elon Musk wants to fix at Twitter.'  Real Time host Bill Maher he supports Elon Musk's...
    Elon Musk could be the subject of another Securities and Exchange Commission (SEC) probe after he was 11 days late in declaring his 9.2 percent stake in Twitter - during which time he earned approximately $156million in profits. The Tesla CEO became Twitter's majority shareholder on March 14, but failed disclose his stake in the social media giant by the March 25 deadline, violating a 50-year-old SEC law that requires investors notify the regulator once they surpass a 5 percent stake in a company. Musk filed ownership disclosure documents on Monday. Musk, 54, then continued to purchase Twitter stock at approximately $39 per share during the period of omission, SEC filings obtained by DailyMail.com revealed. After his disclosure on Monday, Twitter stock prices surged roughly 30 percent to above $50 per share, allowing the billionaire to reap millions in profit.  Additionally, legal and securities experts allege the SpaceX CEO, who was named to Twitter's Board of Directors on Tuesday, could be under fire for also filing a misleading SEC report claiming to be a 'passive investor' in the company, meaning he had no plans...
    In this article VOW3-DEA Porsche 911 Carrera 4S stands in the evening light in a drive-in cinema on the circuit of the Leipzig Porsche factory.Jan Woitas | picture alliance via Getty ImagesDETROIT — Porsche is upping its investment in the development of climate-neutral "e-fuels" made to replace gasoline in traditional combustion engines. The German automaker, owned by Volkswagen, announced on Wednesday a $75 million "long-term" investment in Highly Innovative Fuels Global, a manufacturer headquartered in the U.S. with operations in Chile. Porsche will acquire 12.5% of the Delaware-based holding company. The move builds on an existing tie-up between the companies. In late 2020, Porsche announced a roughly $24 million investment in a pilot plant being produced by HIF in Chile. The plant is expected to begin production later this year of e-fuels, which are made from hydrogen and carbon dioxide. "Today is an important milestone in our commitment to e-fuels," Barbara Frenkel, head of procurement for Porsche, said during a media roundtable from Chile. "We see our participation in HIF Global as a long-term investment and the use of...
    New York (CNN Business)Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company.News of the purchase sent shares of Twitter (TWTR) soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the close of trading Friday, and $3.5 billion after the spike early Monday. Musk's filing did not disclose the purpose of the purchase or any plans for the company. But he has been a high-profile critic of Twitter policies in the past. Last month he said he was giving "serious thought" to creating a new social media platform."Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy," Musk tweeted last month. "What should be done?"Any time an investor buys 5% or more of a company's shares, they must disclose the purchase in filings with the Securities and Exchange Commission. Although a stake of less than 10% in a company is considered "passive" in...
    Aside from his purported dedication to free speech as a concept, Musk’s interest in Twitter could also be inspired by U.S. securities regulators restricting his ability to freely post his thoughts on Twitter. In early March, Musk asked a federal judge to nullify a subpoena from SEC regulators and throw out a 2018 agreement that required Musk to have a third party prescreen his Tweets before posting them. The Associated Press reported that Musk’s legal team is arguing that the SEC’s subpoena has “no basis in law” and that the SEC has used the court agreement “to trample on Mr. Musk’s First Amendment rights and to impose prior restraints on his speech.” The SEC responded in a court motion arguing that it has the legal authority to subpoena Tesla and its leadership over Musk’s tweets. Musk’s recent purchase of Twitter was celebrated among conservative figures online who have been highly critical of Twitter’s manipulative enforcement of its rules regarding speech. Now that @ElonMusk is Twitter\u2019s largest shareholder, it\u2019s time to lift the political censorship.\n\nOh\u2026 and BRING BACK TRUMP!...
    New York (CNN Business)International companies that hold a major presence in Russia are bracing for more sanctions from Western countries. Russia has already paid a price for its aggression: the country's stock markets and currency have tanked this week after President Vladimir Putin ordered troops into Ukraine.Sanctions from the United States and European nations intensified Thursday as Western nations' leaders condemned Russia's actions.Putin warned Russian business leaders on Thursday that he expected further "restrictions" on the economy, but called for business to work "in solidarity" with the government.Here are some companies with a significant presence in Russia:Read MoreEuropeBASFThe German chemicals maker BASF (BASFY) co-owns Wintershall Dea, one of the financial backers of the suspended Nord Stream 2 gas pipeline, with Russian billionaire Mikhail Fridman's LetterOne investor group. It says it generates 1% of group sales from Russia.BPBritish oil company BP (BP) is the largest foreign investor in Russia with a 19.75% stake in the country's national oil company Rosneft. It also holds stakes in several other oil and gas projects in Russia.Coca-Cola HBCThe London-listed company bottles Coke for Russia, Ukraine...
    In this article 700-HK DIDI Budrul Chukrut | LightRocket | Getty ImagesShares of Chinese ride-hailing firm Didi fell in pre-market trade in the U.S. Friday after Tencent clarified that it did not increase its stake in the company. A regulatory filing on Thursday appeared to show that Tencent added around 1.78 million Didi Class A Ordinary shares at the end of last year, bringing its stake in the ride-hailing form to 7.4%. But a company spokesperson told CNBC Friday that these were shares Tencent already had that were previously undisclosed and that it had not bought any more Didi stock. After an initial report on Thursday said that Tencent had increased its stake in Didi, the ride-hailing firm's stock popped more than 8%. However, after Tencent clarified its position on Friday, Didi's stock fell in pre-market trade in the U.S. Didi is a politically charged company at the moment, having reportedly gone ahead with a U.S. listing despite concerns from regulators. Days after its IPO, China's cyberspace regulator opened a cybersecurity review into the tech firm. Didi's shares have...
    Zhao Changpeng, founder and chief executive officer of Binance, speaks during an interview in Singapore, on Nov. 19, 2021.Wei Leng Tay | Bloomberg | Getty Images Binance, the world's biggest cryptocurrency exchange, is making a $200 million strategic investment in Forbes, the 104-year old magazine and digital publisher, CNBC has learned. The funds will help Forbes execute on its plan to merge with a publicly-traded special purpose acquisition company, or SPAC, in the first quarter, according to people with knowledge of the deal. Investors have grown skeptical of SPAC deals generally, and media deals in particular, in recent months amid the broader stock market retrenchment. Binance will replace half of the $400 million in commitments from institutional investors announced by Forbes in August, said the people, who declined to be identified before the transaction is announced. That will make Binance one of the top two biggest owners of Forbes, which will be listed on the New York Stock Exchange under the ticker "FRBS," the people said. The crypto company will also get two directors out of nine total board seats,...
    Elon Musk has lost $50 billion this week after shares of his company Tesla Inc. plunged for a second straight day on Tuesday, marking the company's biggest two-day loss in the history of the stock after the CEO polled Twitter to ask if he should sell off some of his stake.  The steep loss comes as it's revealed that his brother, Kimbal, sold $109 million worth of shares in his 15% stake just one day before Elon surveyed the internet. Tesla closed Tuesday at $1,023.50 a share. Musk, 50, poised a question to his horde of 63.1 million Twitter followers on Saturday asking if he should sell 10 percent of his $250 billion stake in the company to pay President Joe Biden's proposed 'billionaire's tax' - a controversial new tax that would affect approximately 700 of America's wealthiest citizens.  The day prior, Kimbal, 49, sold more than $100 million of his stock in the EV company, garnering a $109 million payout before shares plummeted just days later, after his older brother's infamous tweet, according to a filing reported by Bloomberg....
    (CNN Business)Spanx, one of America's most prominent shapewear companies, is now worth $1.2 billion after inking a deal with Blackstone. The private equity firm will take a majority stake in the brand, the two companies announced Wednesday. While they did not disclose how much Blackstone paid for its stake, the firms noted the eight-figure valuation in a news release."This is a really important moment in time for female entrepreneurs," said Spanx founder Sara Blakely, who will keep a "significant" equity stake in the business and become its executive chairwoman. She has said that when she founded Spanx in 2000, she did so with $5,000 in savings. "I started this company with no business experience and very little money, but I cared the most about the customer, and that gave me the courage to launch the company," she said in a statement Wednesday. Kim Kardashians label will supply Team USA with undergarments and loungewearThe companies said the deal would allow Spanx to ramp up its online presence and "expand its global footprint," as well as its product line.Read MoreShapewear is...
    D.C.-area publisher Politico is discussing selling a stake in the company to German publisher Axel Springer SE, The Wall Street Journal reports.  The deal is not finalized — but could also entail Axel Springer buying the entirety of the local company, WSJ reports, citing sources familiar with the talks.  Politico, which is headquartered in Arlington, and Axel Springer, which is headquartered in Berlin and owns German newspapers Bild and Die Welt, according to the report, already have a 50/50 joint venture that has run Politico Europe since 2015.  Axel Springer has been sniffing around D.C.-area political publications; The New York Times reported in July that the German company was also in talks with Arlington news site Axios. Axios CEO Jim VandeHei declined to comment to the Times for that story.  The company also owns Business Insider and digital business news company Morning Brew.  Politico publisher Robert Allbritton said the company would not comment on any potential talks,… Read the full story from the Washington Business Journal.
    Wise founders Taavet Hinrikus, left, and Kristo Käärmann.Wise LONDON — The founders of money transfer service Wise are now billionaires — on paper, at least. The British fintech company formerly known as TransferWise went public on the London Stock Exchange Wednesday, in a direct listing valuing the company at $11 billion. Wise was founded in 2010 by Estonian friends Kristo Käärmann and Taavet Hinrikus. Frustrated with opaque bank charges on international money transfers, they figured out a new way to make cross-border transactions at the real exchange rate. The pair would informally transfer money between one another, by looking at the mid-market rate of a certain day each month. They say this allowed them to achieve a fair exchange rate without paying additional bank charges.Billionaire statusJust over a decade after Wise was formed, the fintech firm's founders have risen to billionaire status. At an $11 billion market cap, Käärmann's stake in the business is worth approximately $2.1 billion, while Hinrikus' is worth $1.2 billion, according to CNBC calculations based on a breakdown of ownership provided in Wise's prospectus.VIDEO1:3201:32Listing on the LSE allows...
    Conor McGregor has been crowned as sport's highest-paid athlete for the first time ever by Forbes ahead of Lionel Messi and Cristiano Ronaldo, and he has his ventures outside of the Octagon to thank. McGregor made a gigantic £127million over the last 12 months which have been plagued by the Covid pandemic, including £112m outside the Octagon thanks mainly to him selling out the remaining stake in his Proper 12 whiskey company. The Irish UFC star pipped six-time Ballon d'Or winner Messi to top spot with the Barcelona star having raked in £92m over the last year. Conor McGregor was crowned No 1 on Forbes' Highest Paid Athletes list for the first time ever RELATED ARTICLES Previous 1 Next Conor McGregor NEEDS a Dustin Poirier decider more than his... Conor McGregor claims he's in talks to buy shares in Celtic... Neymar reveals his ambition to play alongside Cristiano... Spanish press bemoan 'ANOTHER fiasco' from Barcelona in the... Share this article Share TOP 10 HIGHEST PAID ATHLETES OVER THE...
    SiriusXM, a company still best known for its satellite radio stations, is acquiring podcaster Roman Mars’ company 99% Invisible Inc. for an undisclosed sum. Mars and his team will join the company under Stitcher, the podcasting company Sirius acquired last summer. Mars and the team will continue to host and produce the popular 99% Invisible show, as well as other shows like What Trump Can Teach Us About Con Law. They’ll also create new shows under Stitcher with that programming being available across platforms, including Sirius’ own Stitcher, Pandora, and SiriusXM apps. In an interview with The New York Times, Mars said he wanted to escape growing “administrative duties” while also giving his staff more resources. Meanwhile, Megan Liberman, head of talk and entertainment programming at SiriusXM, said the move would help Sirius attract more podcast talent. “We want the best creative talent that’s out there to know that we are a friendly home for them,” she says. The competition for big-name talent is immense. This acquisition joins a growing list of independent networks and production companies being bought by...
    Self-professed New York Yankees fan LeBron James is set to become part owner of the Boston Red Sox, as well as several other sports properties, on top of his current 2 percent stake in Liverpool FC.  The Los Angeles Lakers star and his longtime business partner Maverick Carter will be buying a stake of the MLB club's parent company, Fenway Sports Group, at an undisclosed price. As part of the same deal, New York-based RedBird Capital will be buying an 11 percent stake of FSG for $750 million.  DailyMail.com has since confirmed the deal with a source familiar with the negotiations. The agreement is subject to approval from MLB. According to the Boston Globe, which originally reported the agreement, FSG will be worth an estimated $7.4 billion after the deal becomes official.   James already had an existing partnership with the parent company through Liverpool FC, which is owned and controlled by FSG.  Self-professed New York Yankees fan LeBron James is set to become part owner of the Boston Red Sox, as well as several other sports properties, on top of his current...
    Juan Roig, CEO of Mercadona, during a presentation of results. . / Heino Kalis Juan Roig, president of Mercadona, has been forced to contribute a good sum of money through his investment company Angels Capital to one of his most important partners, Sothis. The technology company has been suffering the effects of the pandemic for a few months despite the great growth it was experiencing in recent years. Sothis has closed 2020 with 22% less salesTherefore, the Mercadona magnate has had to intervene to stop the decline by contributing 5 million euros, despite the fact that the company assures that its solvency would allow it to withstand the situation, even maintaining growth expectations. A commendable decision of the entity was to not resort to the ERTE during the pandemic, maintaining employment, but also continuing with the planned investments. However, it has taken its toll to the point of recording a negative gross operating result (-3.2 million euros). The reinforcement of Roig will allow Sothis to advance in its expansion and consolidation plans, as planned, in different strategic sectors such as...
    Financial technology company Square said Thursday that it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z. Square - which was founded by Twitter CEO Jack Dorsey in 2009 - will pay $297 million in cash and stock for Tidal. The deal wil also see Jay-Z named to Square's board of directors, and he and other artists who currently own shares in Tidal will remain stakeholders.  On Thursday, Dorsey shared a photo on Twitter of himself sitting down with Jay-Z at a table covered in scribbled notes and glasses of wine. 'I'm grateful for Jay's vision, wisdom, and leadership,' Dorsey wrote.  'I knew TIDAL was something special as soon as I experienced it, and I'm inspired to work with him. He'll now help lead our entire company, including Seller and the Cash App, as soon as the deal closes.'  Jack Dorsey announced on Thursday that Square had acquired majority stake in Tidal. He took to Twitter to share a photo of him and Jay-Z discussing plans for the merger ...
    Fired Parler CEO John Matze says he was 'betrayed' and stabbed in the back by heiress investor Rebekah Mercer over his termination - as House Democrats demand a list of investors and creditors after it emerged Trump was offered a stake in the social media company. The 27-year-old has claimed that he was fired by the Parler board last week by after trying to ban QAnon conspiracy theories and crackdown on white supremacists on the social media app he co-founded.   He blamed Mercer, a conservative mega-donor and daughter of hedge fund billionaire Robert Mercer, for his termination.    'I feel like it was a stab in the back by somebody that I thought I knew. And so for me, you know, I would never do business with her again,' Matze told Axios on HBO.  'I thought I knew her. She invited my family on trips with them and everything. I thought that she was, generally speaking, I thought she was being real. And then she just abruptly has her people fire me and doesn't even talk to me about it.'  Fired Parler CEO John Matze told...
    Donald Trump was reportedly in talks to acquire a 40 per cent stake in Parler in exchange for the then-president agreeing to post first on the social media app that has become the platform of choice for many of his supporters. The negotiations, which reportedly took place while Trump was still president, were ended after White House lawyers objected, saying such an arrangement would violate ethics rules and potentially expose him to bribery charges. News of the talks was first reported by BuzzFeed News, which obtained documents outlining the proposed deal. According to BuzzFeed News, Trump’s company would have immediately received a 20 per cent stake while the remaining 20 per cent would have handed over in tranches over a two-year period. Donald Trump (seen above in West Palm Beach, Florida, on January 20) was offered a 40 per cent stake in social media app Parler, according to BuzzFeed News Parler bills itself as a social media platform that allows for 'free expression.' The then-president would have had to agree to make Parler his primary mode of communication...
    Airbnb is aiming for a valuation of up to $34.8 billion in its initial public offering, in what would cap a stunning recovery of fortunes after the business was heavily damaged by the COVID-19 pandemic earlier this year. In a regulatory filing Tuesday, Airbnb set a target share price range of between $44 and $50 to sell 51.9 million shares, which would pull in up to $2.85 billion at the upper end of the range. At the top of Airbnb's target range, the IPO will give Airbnb a valuation of $34.8 billion, nearly double the $18 billion Airbnb was worth in an April private fundraising round and above the $31 billion in its last pre-COVID-19 private fundraising in 2017.  Investors have signaled that they expect vaccines to soon put an end to the pandemic, and anticipate a surge of travel as normal life resumes next year.  Of the shares being sold, Airbnb founders Brian Chesky, Joe Gebbia and Nathan Blecharczyk will together sell nearly $100 million worth of shares in the IPO launch. Co-founder of Airbnb Joe Gebbia stands...
    VIDEO1:3501:35News Update – Pre-MarketsNews Briefing Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Bernstein upgraded Amazon to "outperform" from "market perform," saying a 16% drop in the stock over the past few weeks has created an attractive entry point. Bernstein highlights Amazon's growth prospects, noting a 50% increase this year in fulfillment capacity. AutoZone (AZN) – The auto parts retailer reported fiscal fourth-quarter earnings of $30.93 per share, beating the consensus estimate of $25.01 a share. Revenue was also above forecasts, with comparable sales more than doubling estimates with an increase of 21.8%. AutoZone said market conditions remain uncertain heading into the new fiscal year. Tesla (TSLA) – Tesla CEO Elon Musk tweeted that battery production plans to be announced at today's "Battery Day" event won't reach high volume production until 2022. Nikola (NKLA) – Nikola remains on watch after the electric truck maker's shares plunged Monday following the resignation of Executive Chairman Trevor Milton. Separately, The Wall Street Journal is reporting that Nikola will turn to an outside supplier to provide batteries...
    In a statement to reporters on Monday, Oracle announced that its new TikTok venture will be entirely divested from ByteDance, a significant break from previous reports of the agreed deal between the two companies. “Upon creation of TikTok Global, Oracle/Walmart will make their investment and the TikTok Global shares will be distributed to their owners, Americans will be the majority and ByteDance will have no ownership in TikTok Global,” the company said in a statement to reporters. The statement differs significantly from earlier reports, which showed Oracle and Walmart taking only a 20 percent stake in the new venture and ByteDance maintaining control of the other 80 percent. ByteDance has not publicly relinquished its claim to the company, and Oracle did not respond to a request for clarification. On Monday morning, President Trump told reporters that China would be required to cede control of the app in order for the deal to go through. TikTok’s ability to operate within the US remains profoundly in doubt. The Department of Commerce had prepared to levy sanctions against the company on Friday, only...
    Donald Trump says he accepts “conceptual agreement” that will allow Toktok to continue operating in the United States Threatening to ban Chinese-owned use. The president told reporters at the White House that the deal with Oracle was “my blessing.” U.S. National Security Concerns resolved. Used by about 100 million Americans Dictok U.S. officials have expressed concern about the possibility of China accessing users’ data. “I offer this agreement as my blessing,” the US president told reporters. “It’s better if they do it, and it’s better if they do not.” “Security will be 100%,” Trump added. “According to him, this is a big deal for the United States.” The new company, Dictok Global, will have U.S. directors, a U.S. chief executive and a security expert, Reuters reported Thursday. Oracle has finally agreed to hold a 20% stake in the company, a source said. Sources said that if Walmart successfully negotiates to acquire a stake, its CEO, Doug Macmillan, will get a place on the Dictok Global Group. Trump said the new Dictoc company would be “completely controlled by Oracle and...
    General Motors is taking an 11 percent stake in electric truck startup Nikola, the companies announced on Tuesday. As part of the deal, GM will help Nikola engineer and manufacture its battery-electric and hydrogen fuel cell vehicles, including the Badger pickup truck. Nikola, which went public through a “reverse merger” with a special acquisition company earlier this year, will “exchange $2 billion in newly issued common stock for the in-kind services and access to General Motors’ global safety-tested and validated parts and components,” the companies announced. GM will also get to nominate one director to Nikola’s board. GM will supply hydrogen fuel cells to Nikola for its Class 7 and Class 8 semi trucks GM will supply hydrogen fuel cells to Nikola for its Class 7 and Class 8 semi trucks. Nikola will remain an independent company and will be responsible for the sales and marketing of the Badger, which was first announced in February and will make its official debut in early December. Nikola says it expects to start production on the Badger in “late 2022” at...
    LAS VEGAS, NEVADA - JANUARY 08: An attendee walks by the Kodak booth at CES 2019 at the Las Vegas Convention Center on January 8, 2019 in Las Vegas, Nevada. CES, the world's largest annual consumer technology trade show, runs through January 11 and features about 4,500 exhibitors showing off their latest products and services to more than 180,000 attendees. (Photo by David Becker/Getty Images)David Becker | Getty Images News | Getty Images Eastman Kodak's recent roller-coaster ride continued on Tuesday as shares surged 50% on the back of D.E. Shaw establishing a position in the company. A filing with the Securities and Exchange Commission on Monday night showed that the hedge fund has a 5.2% passive stake in Kodak. However, D.E. Shaw is a quantitative trading firm meaning the stocks they buy and sell are not necessarily aligned with the company's long-term view of a particular stock. In other words, their new position could simply be a short-term trading bet. Shares of Kodak have been highly volatile over the last month — rising dramatically after the Trump administration said...
    WWE is one of the most popular and successful businesses not only in America, but in the world. The massive size and reach of the company makes it a very powerful player in the market. The CEO and Chairman of the Company, Vince McMahon, is the driving force behind the success of this company. While McMahon does own the company, he surely can’t control all of it. Or can he? A lot of companies and individuals have stakes in this behemoth company. Its rise and fall essentially depend on some of these stakeholders. The majority shareholder in the company is unsurprisingly Vince McMahon himself, holding a mammoth 48.09% stake in the company. This gives him 70.5% of the voting power as well. As you can see from the picture above, the McMahon family owns an additional percentage of stake in the company, on top of Vince McMahon’s majority shares. Vince McMahon and family control more than half of the ownership of WWE Combining the McMahon Family’s total ownership, including L inda, Shane, and Stephanie McMahon and Paul Levesque...
    The Chinese private equity firm BHR Partners updated its business records on April 20 to remove Hunter Biden as a member of its board of directors, but he continues to hold a 10% ownership stake in the company through his LLC, Chinese business records show. Hunter Biden’s departure from BHR’s board was submitted to China’s National Credit Information Publicity System (NCIPS) more than six months after he pledged to relinquish his position with the firm “on or by October 31,” according to Qixinbao and Baidu, two independent services that provide registration information on Chinese corporations based on NCIPS filings. The records also show that Hunter Biden continues to hold a 10% equity stake in BHR through his company, Skaneateles LLC, as of Friday, a position he maintains despite a pledge in December from his father, former Vice President Joe Biden, that none of his family members would “be engaged in any foreign business” if he is elected president in November. The Biden campaign did not respond when asked if the candidate will call on his son to relinquish his equity...
    After losing access to the EU’s satellite-navigation system Galileo due to Brexit, the UK is hoping to replace it with OneWeb satellites. A government-led consortium has won an auction for the satellite internet company, which filed for Chapter 11 bankruptcy in March as it sought a buyer.  If a US bankruptcy court approves the bid next week, the UK and India’s Bharti Global will both pay $500 million for a stake of about 45 percent each. They’d fund the full restart of OneWeb’s operations, the company said. Creditors would own the remaining 10 percent. The deal is expected to close by the end of the year, pending regulatory approval. The government previously planned to build its own Galileo replacement with the help of other members of the Five Eyes intelligence alliance — Australia, Canada, New Zealand and the US. The project was put on hold in May just before the publication of a feasibility study. The estimated cost had risen by then to £5 billion ($6.2 billion). The UK’s Satellite Applications Catapult is working on a white paper that would...
    Kim Kardashian West sold a 20 percent stake of her company, KKW Beauty, to cosmetics company Coty for $200 million. The deal brings the star’s net worth to about $900 million as the beauty brand was valued at $1 billion, according to a Forbes report released on Monday. When the deal closes, Kim will continue to be a majority stakeholder in the company. The reality star will retain a 72 percent stake in the beauty brand while her mother, Kris Jenner, will hold 8 percent according to Forbes estimates. Neither Kim nor Kris has confirmed those numbers. The deal is set to close at the end of next year. Kim will continue to work with the company on artistic efforts while Coty will work on research and product development. “This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world,” Kim told TMZ on Monday. KKW Beauty is best known for its contouring creams and highlighters but also offers fragrances...
    Michael Dell speaking at the 2019 WEF in Davos, Switzerland on Jan. 23rd, 2019.Adam Galica | CNBC Shares of computer maker Dell and enterprise software company VMware are up as Dell considers what to do with its position in VMware. Dell was up as much as 21% in extended trading on Tuesday after the Wall Street Journal reported that the company looked into buying out the minority stake of VMware that it doesn't already own or selling its share of VMware. VMware stock was also up more than 9% following the report. The two companies did not immediately respond to requests for comment on the report.  Dell shares are down about 5% since the beginning of the year, while VMware is down less than 2%, as VMware seeks to grow from companies transitioning to public clouds. VMware formed a partnership with top cloud provider Amazon in 2016.  Dell controlled about 81% of VMware's outstanding common stock and about 97% of the combined voting power of VMware's outstanding common stock as of May 1, according to VMware's most recent earnings report....
    UFC President Dana White is one of the most powerful men in global sports. White was born on the east coast, but moved to Vegas to get away from Boston Gangster James Bulger, whom he owed money. Here, he entered the fighting scene as manager to Chuck Liddell and Tito Ortiz. His proximity to the business served him well, as he displayed his astute business mind when he leaped on an opportunity to acquire the company. Whilst the Fertittas purchased the company, White became President and the UFC’s fortunes skyrocketed.  Dana White builds the UFC as a profitable business  For 16 years, White built the business. He regularized the show and managed to get it back to the television, thus helping it reach a larger audience. Furthermore, the brutality was retained, but with rules, which got the Athletic Commissions interested in the new product.  White started with an Octagon and the name, with sporadic shows. Eventually, he upgraded to weekly shows. These took place all across America and the world and attracted some of the biggest martial artists on...
    BERLIN (AP) — The German government said Monday it is taking a 23% stake in CureVac, a German company working on a potential vaccine for the coronavirus, underlining its determination to keep key industries in the country. The state-owned KfW development bank will buy 300 million euros ($337 million) in CureVac shares, Economy Minister Peter Altmaier said, adding that the aim is to give CureVac “financial security.” He said the government won’t exert influence on CureVac’s business decisions. The main shareholder in CureVac is Dietmar Hopp, the co-founder of German-based business software company SAP. “For me and for the whole German government, it is … absolutely elementary that we preserve and strengthen promising key industries in Germany, be they digital, artificial intelligence industries; electric batteries; the chemical industry, the steel industry and many others,” Altmaier said. “That goes in particular for biotechnology and life sciences.” In March, Chancellor Angela Merkel’s chief of staff, Helge Braun, said that German officials had had “very intensive contact” with CureVac and that there had been “thoughts of enticing it to the United States.” ...
    That was one quick makeover. After getting dinged last week for its ties to Kylie Jenner, beauty products seller Coty announced a $1 billion investment and a management shakeup — sending the stock up 20 percent, to $4.36, in early-afternoon trading. Coty on Monday said buyout firm KKR will be acquiring a 60 percent stake in Coty’s hair and nail brands, including Wella, Clairol and OPI, in a deal that values the business at $4.3 billion. The news added some much-needed sheen to Coty’s stock, which plummeted 13 percent on Friday after Forbes accused Kylie Jenner of lying to the press about her wealth, including the financial success of her Kylie Cosmetics business. Coty bought a 51 percent stake in Kylie Cosmetics for $600 million in November with plans to use her social media following to better sell to young people. Jenner has denied the allegations, including that she presented forged financial information when meeting with the magazine known for its wealth rankings to make herself look richer. The parent company of CoverGirl and Kylie Cosmetics also named Coty’s chairman,...
1