Stripe on Thursday announced a tender offer for employees and shareholders that valued the company at $91.5 billion, nearly 41% higher than its valuation a year ago, potentially delaying the fintech firm’s ambitions of going public. The deal signals the strong recovery of the global venture capital sector, as central banks have started to cut…
Apple says it will stop offering an advanced data security option for British users after the government reportedly demanded that the company provide backdoor access for any data those users have stored in the cloud Apple said Friday it will stop offering an advanced data security option for British users after the government reportedly demanded…
In a James Bond shakeup that stirred the film industry, MGM Amazon announced that the studio has taken the creative reins of the 007 franchise after decades of family control In a James Bond shakeup that stirred the film industry, Amazon MGM announced Thursday that the studio has taken the creative reins of the 007 franchise after…
Russian internet firm Yandex reported annual revenues above 1 trillion roubles ($11.22 billion) for the first time on Thursday, in a year when the business underwent a significant restructuring. A Russian consortium of buyers in July finalised a $5.4 billion cash-and-stock deal to acquire Yandex’s Russia-based assets, which had been held through Yandex’s Nasdaq-listed Dutch…
Grab Holdings forecast its annual revenue below analysts’ estimates on Wednesday, as it grapples with intense competition in food delivery and ride-hailing businesses, sending its U.S.-listed shares down more than 9% after the bell. The company forecast its fiscal 2025 revenue to be between $3.33 billion and $3.40 billion, the midpoint of which is below…
Australia’s federal court has ruled that telecom firm Telstra misled customers about the downgrading of its broadband plan’s upload speed, the country’s competition regulator said on Friday. The Australian Competition & Consumer Commission (ACCC) had initiated the lawsuit against the company in December 2022, alleging Telstra downgraded broadband upload speed for nearly 9,000 residential customers…
Wix.com, which helps small businesses build and run websites, beat fourth-quarter net profit expectations on Wednesday and said its artificial intelligence and Studio products for designing websites will help it reach revenue of $2 billion in 2025. The Israeli company’s earnings were $1.93 per diluted share, excluding one-time items, up from $1.22 per share a…
Japan’s Resonac Holdings is looking to make deals after reducing its borrowing and wants to be involved when a state-backed fund exits from peer JSR, the CEO of the chip materials maker said on Wednesday. “We will go on the offensive from this year,” Hidehito Takahashi told Reuters in an interview. Resonac was formed by…
Hong Kong is expanding the ways investors can trade virtual assets, its financial regulator said on Wednesday, as the city races to become Asia’s digital assets hub and attract capital. The Securities and Futures Commission will establish new licensing regimes for over-the-counter trading in virtual assets and for custody services, aiming to boost market efficiency…
Airbnb is suing the City of New Orleans for requiring the company and other short-term rental platforms ensure properties they market are in compliance with city regulations Airbnb is suing the City of New Orleans for requiring the company and short-term rental platforms ensure properties they market are in compliance with city laws. “What we’re…
