Category: FINANCE
Berkshire Tweaks Bank Play With $2.9 Billion Bet on Citi
Warren Buffett’s Berkshire Hathaway Inc., which cut many bank holdings as the pandemic bore down on the US, is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup Inc. even as it said …
Fintech Pioneer Paytm’s Quarterly Revenue Edges Higher
Paytm reported a 5.8% rise in revenue amid the Indian digital payments pioneer’s struggle with intensifying competition. Paytm-owner One 97 Communications Ltd. reported a net loss of 7.6 billion …
Baidu’s Chip Affiliate Eyes Fundraise at $2.5 Billion Valuation
Baidu Inc.’s chip affiliate is looking to raise 2 billion yuan ($317 million) in a new funding round, people familiar with the matter said, as venture capitalists in China shift away from internet …
Insurer LIC Slumps in Debut After Record $2.7 Billion India IPO
State-run insurer Life Insurance Corporation of India plunged early in its Mumbai trading debut after a record initial public offering that priced at the top of the range and was oversubscribed nearly …
North Korea Deploys Military to Fight 1.5 Million ‘Fever Cases’
Kim Jong Un mobilized North Korea’s military to help fight one of the biggest crises he has faced in his decade as leader, as suspected Covid-19 cases reached nearly 1.5 million in less than a month.
Al Gore’s Investment Firm Unveils $1.7 Billion Sustainable Fund
Generation Investment Management, the $36 billion investment firm co-founded by Al Gore, launched a new fund targeting companies that contribute to lower emissions, increased fina …
Democrats Urge IRS to Boost Drivers’ 58.5-Cent Mileage Deduction
House Democrats are pushing the Internal Revenue Service to increase a tax break that would help truckers, Uber Technologies Inc. and Lyft Inc. drivers and other transportation-related businesses cut …
Battered Stock Traders Brace for $1.9 Trillion Option Expiration
Stock traders still clinging on after this week’s vicious drop in US benchmarks had better tighten their grip — OpEx is back to whip up more turmoil.
India Raises $2.7 Billion in LIC IPO Priced at Top of Range
India raised 205.6 billion rupees ($2.7 billion) as its biggest initial public offering priced at the top of the indicated range following strong demand from local investors and a last-minute dash by …