Number of Americans filing new claims for unemployment benefits increased by the most in five months last week, but the underlying trend remained consistent with a tight labor market, Reuters reported. Initial claims for state unemployment benefits rose 21,000 to a seasonally adjusted 211,000 for the week ended March 4, the Labor Department said on…
JD.com posts dismal revenue growth amid weak consumption sentiment
JD.com Inc. shares fell after the company reported a sharp drop in revenue growth. China’s second-largest online retailer said Thursday revenue rose 7% from October to December, down from 23% growth a year earlier. It and larger rival Alibaba Group Holding Ltd. have grappled with weak consumption sentiment since the world’s No. 2 economy buckled…
Apple unveiled a yellow iPhone 14 and iPhone 14 Plus
Apple unveiled Tuesday a yellow iPhone 14 and iPhone 14 Plus, adding a new color to its current lineup. Apple also released spring-themed Watch band colors and silicone iPhone cases. You can preorder the yellow iPhone 14 and iPhone 14 Plus starting Friday, with general availability starting on March 14. Yellow joins the existing black,…
Silvergate Capital says it will wind down operations and liquidate its bank
Silvergate Capital, a central lender to the crypto industry, is winding down operations and liquidating its bank. Silvergate has served as one of the two main banks for crypto companies, along with New York-based Signature Bank. Silvergate has just over $11 billion in assets, compared with over $114 billion at Signature. Bankrupt crypto exchange FTX…
All travelers to the UK will need to apply and pay for Electronic Travel Authorisation
U.K. has announced the biggest shake-up of its border force rules, as all passengers who do not need visa approval are required to apply for digital travel authorization before entering the country, CNBC reported. People holding passports that currently arrive in the country without pre-vetting — including European Union, U.S., Canadian, Japanese, Australian, New Zealand…
Eutelsat and Intelsat sign multi-orbit contract to enhance connectivity with OneWeb Services
PARIS, FRANCE: Eutelsat Communications has signed a multi-orbit agreement with Intelsat to enhance connectivity solutions over Europe, the Middle East, and the Pacific, including OneWeb services. Under this new seven-year multi-million-euro capacity agreement with a progressive roll-out of assets over 2023, leveraging Eutelsat’s High-throughput satellites (HTS) in the Ku-band including the recently launched EUTELSAT 10B…
Ananda Developments to acquire MRX Global, subsidiary MRX Medical
LONDON, UK: Ananda Developments Plc has agreed to acquire MRX Global Ltd and its subsidiary, MRX Medical Ltd. MRX has invented a proprietary method to formulate cannabis medicines, the first of which, MRX1, is to be used in two Phase II Randomised Controlled Trials (RCTs) to investigate the effectiveness of cannabidiol (CBD) in chemotherapy induced…
Gelion plc acquires Johnson Matthey’s battery materials patent portfolio
LONDON, UK: Gelion Plc (AIM: GELN), the Anglo-Australian battery innovator, announced the acquisition of the Lithium Sulfur and Silicon Anode (LiSiS) patent portfolio (including solid and liquid electrolytes, disordered rock salt, electrode formulation and battery materials recycling) from Johnson Matthey for a consideration of £4.25 million payable in cash and will be funded from the…
Informa Plc acquires B2B Events group, Tarsus for $940 million
LONDON, UK: Informa Plc (LSE: INF.L), the international Academic Markets, B2B Markets and Digital Services Group, announced the acquisition of B2B Events group, Tarsus for $940 million. Stephen A. Carter, Group Chief Executive, Informa, said: “We have long admired the Tarsus business which, like Informa, has been built around major brands in attractive, specialist B2B…
Sequoia Financial Group announces divestment of 80% of Morrison Securities
SYDNEY, AUSTRALIA: Sequoia Financial Group Limited (ASX: SEQ) has entered into a binding agreement to divest 80% of its equity interest in Morrison Securities Pty Ltd to New Quantum Holdings Pty Ltd (NQ), a company that provides digital wealth management platform services. Under the agreement, SEQ is set to receive a total cash consideration of…
BSA Limited to divest its APS Fire QLD business to Entire Fire Pty Ltd
SYDNEY, AUSTRALIA: BSA Limited (ASX:BSA) has entered into an agreement to divest its APS Fire QLD business to Entire Fire Pty Ltd, a Melbourne based Fire Protection and Mechanical services company. The agreement is subject to conditions precedent with a sunset date of 30 April 2023. The divestment is part of the BSA three horizon…
Jatcorp sells unprofitable subsidiaries KTPD Holding and Green Forest International
SYDNEY, AUSTRALIA: Jatcorp Limited has decided to dispose of the 50% owned subsidiaries KTPD Holding Pty Ltd and Green Forest International Pty Ltd for nominal consideration. Jatcorp acquired the subsidiaries in May 2018. The previous Board had made the decision to acquire the subsidiaries to boost sales and develop the distribution and sales channels. However,…