In a strategic move to bolster the tech startup ecosystem in the Middle East, a Chinese venture capital firm supported by a unit of Saudi Arabia’s Public Investment Fund (PIF) is in the process of raising a substantial $1 billion fund. MSA Capital, the VC firm in question, is...
Read moreAlibaba Group Holding Ltd. has recently announced a $25 billion stock repurchase program, in a bid to reassure concerned investors amidst challenges in the Chinese e-commerce sector. The move comes as Alibaba faces increasing competition from emerging rivals like PDD Holdings Inc. Despite this significant buyback initiative, the company's...
Read moreApple's latest product, the Vision Pro, went on sale recently, introducing a distinctive customer shopping experience. Unlike the typical purchase process for iPhones, iPads, or Macs, buying the Vision Pro involves a more complex and orchestrated sales approach. Customers interested in the Vision Pro start by undergoing a face...
Read moreSurging past market expectations, Meta Platforms Inc. (META) witnessed an impressive stock rally on Friday, catapulting over 20% following the release of stellar earnings, robust guidance, and the announcement of strategic initiatives for shareholder returns. This extraordinary surge translated into a substantial addition of nearly $200 billion to Meta's...
Read moreA Delaware judge invalidated Tesla CEO Elon Musk's $56 billion pay package on Tuesday, asserting that the company's board failed to demonstrate the fairness of the compensation plan and lacked sufficient evidence of negotiation with Elon Musk. Following this decision in a lawsuit filed by shareholder Richard Tornetta, Tesla's...
Read moreBitcoin appears set to extend its winning streak for a fifth consecutive month, marking its longest positive run since the pandemic-triggered rally. Amidst January's notable volatility, driven by the debut of the first US spot BTC exchange-traded funds and shifting views on monetary policy, the largest digital asset has...
Read moreInterest in the highly anticipated spot Bitcoin Exchange-Traded Funds (ETFs) appears to be waning, as Wednesday witnessed the lowest single-day of investor gross inflows for the group since trading commenced on January 11. As per a report from JPMorgan Chase & Co, the nine recently introduced funds attracted approximately...
Read moreOn Wednesday, Meta achieved a market cap exceeding $1 trillion, with shares closing over 1% higher at $390 each amidst a notable uptrend. This milestone was previously reached in 2021 when the company was known as Facebook. Following a remarkable 200% surge in 2023, attributed to CEO Mark Zuckerberg's...
Read moreIn a strong showing of growth, Netflix announced that it added 13.1 million subscribers during the second quarter, surpassing both its own projections and Wall Street expectations. The streaming giant's total membership now stands at a staggering 192.95 million worldwide. The company's success can be attributed to its aggressive...
Read moreBitcoin extended its decline on Monday, breaching the $40,000 mark for the first time this year and dragging down the entire cryptocurrency market in its wake. As per Coin Metrics, the current price of BTC stands at $40,052.76, marking a 3.9% decrease. At its lowest point during the day,...
Read more
