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Amazon India now procures total cash infusion of USD 1 billion
Post having received an infusion of Rs 2,600 crore into the marketplace in May 2018, Amazon India recently announced the infusion of an additional Rs 2,700 crore by the parent firm. Post this move, Amazon’s overall infusion has successfully hit the $1 billion mark since the beginning of 2018. ... Read More
Lee and Wrangler to be spun off as VF Corp makes a move to Denver
VF Corp., the renowned American apparel and footwear company, has recently announced that its Lee and Wrangler jeans will soon be spun off as an independent public company as VF Corp will be focusing more on its other brands such as North Face and Vans that have proved to be more profitable. Repo... Read More
CK Infrastructure to take over Australia’s gas pipeline firm APA Group
APA Group, the biggest gas pipeline company of Australia announced the acceptance of a A$12.98 billion takeover deal offered by a consortium led by CK Infrastructure of Hong Kong. Once the buyout materializes, CKI will gain the position of being a noted competitor in the east coast gas pipeline netw... Read More
Paytm and Alibaba’s AGTech pour in USD 16 million in Gamepind
Gamepind, a gaming joint venture owned by Paytm’s parent company One97 communications and the Alibaba Group-owned gaming and entertainment company AGTech Holdings has reportedly received a funding of USD 16 million. Sources claim that the investment has been provided in a bid to improve the ga... Read More
Samsung considers halting smartphone facility operations in China
Samsung Electronics Co Ltd, the leading manufacturer and distributer of electronic products has reportedly made plans to suspend its operations at its mobile phone manufacturing plants in China. As per sources, the decision may have come on the heels of the company’s rising labor cost and slum... Read More
WeWork to receive additional funding of US$1 billion from SoftBank
WeWork Co. will reportedly be getting another US$1 billion from the Japanese multinational firm Softbank Group Corp. and the investment will be in the form of convertible notes. Sources claim that WeWork’s expenses are increasing as its business is gaining momentum, on the grounds of which Sof... Read More
Iterum to conduct trials for oral Sulopenem in uncomplicated UTIs
Pharmaceutical giant Iterum Therapeutics plc, which develops medications for infections caused by multi-drug resistance pathogens, has recently announced its clinical trial for Sulopenem. Sources state that this would mark the first phase of its Phase 3 clinical trials. For the uninitiated, Sulop... Read More
Siemens uses AM to 3D print emission reducing combustion component
Siemens, one of the largest industrial manufacturers in Europe recently announced to having attained a milestone as the company has 3D printed a combustion component. The dry low emission pre-mixer has been designed for the SGT-A05 aeroderivative gas turbine and is claimed to significantly reduce CO... Read More
Suncorp sells life insurance arm, plans to return cash to shareholders
Suncorp Group Limited, an Australian finance, insurance, and banking corporation company recently announced plans to offload its life insurance arm to TAL Dai-ichi Life of Japan for A$725 million. In addition, it also plans to return about A$600 million to its shareholders after the sale by the end ... Read More
Harley Davidson seeks alliance to manufacture bikes for India
Milwaukee-based Harley Davidson is reportedly planning to set up manufacturing and distribution facilities to make lightweight motorcycles for users in India and other Asian markets. The motorcycle giant recently announced its plans to launch smaller motorcycles with an engine size of 250cc to 500cc... Read More