Billionaire Mukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major deal the top Indian telecom operator has secured in just as many weeks. On Friday, KKR announced it will invest $1.5 billion in the top Indian telecom operator, a subsidiary of India’s…
Taiwan Semiconductor Manufacturing Co., the world’s largest contract semiconductor foundry, said today that it plans to build an advanced chip foundry in Arizona with support from the state and the United States federal government. The announcement follows a Wall Street Journal report earlier this week that White House officials were in talks with TSMC and…
Investors added more than $20 billion to Disney’s market cap on news that its streaming service surpassed 50 million subscribers. That’s not nearly enough to offset the revenue losses its parks segment will suffer as a result of coronavirus. It’s unclear whether the bulk of those subscribers will quit once lockdowns have lifted. This week…
The World Health Organisation (WHO) announced Thursday it is ready to launch an appeal for more than $US1 billion to underwrite operations against the Chinese coronavirus pandemic. WHO Director-General Tedros Adhanom Ghebreyesus believes the pandemic needs a whole-of government and society response, and to that end is seeking a new funding lifeline outside its existing…
A new study from the International Labor Organization reveals the staggering rate of global unemployment. Over 2.7 billion workers are currently unable to work due to the coronavirus crisis. Projected workforce losses are expected to far exceed the 2008-09 financial crisis. According to a new study from the UN’s International Labor Organization (ILO), 2.7 billion…
The spread of the coronavirus from its epicenter in central China to infections identified around the world is having a severe impact on airlines as consumers cancel or delay travel plans. Industry experts say airlines worldwide could lose as much as $30 billion in revenues this year, with Chinese carriers facing the brunt of the…
Jeff Bezos’ climate change outfit will receive $10 billion to start with. Amazon is a bigger polluter than Norway, Denmark, Ireland and Switzerland. Its too soon for Amazon employees to claim victory though. In the past 12 months they have pushed for the tech giant’s climate change inaction to end. Amazon (NASDAQ:AMZN) CEO’s announcement that…
UBS is trying to save its real-estate fund from huge redemptions. UBS’ troubles indicate that something greater is amiss with the U.S. housing market. Store closures and loss of employment could trigger the next crisis. The U.S. housing market is enjoying terrific price appreciation thanks to a lack of homes available for sale, but that…
The California Supreme Court has found Apple guilty of breaking the law when it refused to pay its workers for mandatory searches at the end of their shifts. Tim Cook has a major PR problem on his hands after being ridiculed in the court decision. Sitting on a monster $207 billion cash pile, Apple should…
More than 17 million Americans will skip work on the Monday following the Super Bowl. This rampant absenteeism will cost U.S. businesses approximately $1 billion. And it will only get worse. It’s time to move the Super Bowl to Saturday – or at least the Sunday before Presidents Day. Debates over whether the Monday following…
