Paris-based LVMH Moet Hennessy Louis Vuitton became on Monday (April 24) the first company listed in Europe with a market value of over $500 billion, thanks to booming demand among the wealthy for its high-end brands including Christian Dior, Bulgari and Tiffany jewellery. LVMH shares closed up 90 euro cents (0.1%) to €902.00 on Monday giving the French company a market capitalisation
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Chinese billionaire and Ant Group’s founder Jack Ma is ceding control of the fintech giant, the company announced on Saturday (Jan. 7). The Ant Group is an affiliate company of the multinational technology company Alibaba Group, also founded by Ma. Ant operates China’s mobile payment app Alipay, the world’s largest, which has more than 1 billion users. Prior to the change, Ma
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Brazilian fintech CloudWalk is set to launch its own blockchain, a ledger that records cryptocurrency transaction and operations. The goal, which is already being met, is to escalate the business. With its own network, it can handle 500 transactions per second – 70 times more than before, when it was based on blockchain platforms such as Ethereum and Polygon. Luis Silva, founder
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LEAD, India’s foremost player in the School EdTech category, has raised US $100 million in a new funding round, dubbed a Series E round. The Series E funding round was led by returning investor WestBridge Capital and global Ventrure Capital fund GSV Ventures, making this one of their largest EdTech investment to fuel the company’s ambitious vision of transforming core schooling in India with tech-integrated
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Mexico-based Cox Energy America, the first photovoltaic solar energy company to be listed on a Latin American stock exchange, officially begins listing its representative shares of the company’s share capital in the Spanish market. The listing process will be in the BME Growth, a sub-market of Bolsas y Mercados Españoles (BME), It is a platform that allows growing small and medium-sized (SMEs)
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Cairo-based Telecom Egypt posted net profit of EGP 3.9 billion ($249.20 million) for the first half of 2021, surging by 88% year-on-year. Total consolidated revenue stood at EGP17.4 billion in the period, up 16% year-on-year. The Arab country’s primary telecommunication company attributed this growth in net revenue to the steady operational performance, foreign exchange gains, and higher investment income from Vodafone. In
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German media conglomerate Axel Springer has agreed to buy the US-based political journalism company Politico. The companies did not disclose a price for the deal, but American media reported Politico sold for about $1 billion citing people familiar with the matter. The deal includes Politico, Politico Europe and Politico’s tech news site, Protocol launched in 2020. Subject to regulatory approval, the deal is expected to take
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