Fashion e-retailer Lulu’s has raised $120 million from venture capital firm IVP and Canada Pension Plan Investment Board, the company said on Wednesday. The fundraise demonstrates the continued bets that investors are willing to take on the start-ups looking to take on the rapidly changing retail industry. Founded in 1996 by Debra Cannon and her […]
Read moreDaniel Pinto has seen his share of booms and busts. An Argentinean who spent much of his early career in volatile emerging markets, Pinto, 55, began at J.P. Morgan Chase in 1983 as a currency trader in Buenos Aires. Thanks to his ability to manage risk in a series of roles, Pinto has climbed the […]
Read moreChinese ride-hailing app Didi Chuxing has announced new safety measures for one of its carpooling services following the murder of a passenger. The digital taxi service said on Wednesday that it would hide the personal data and profile pictures of passengers and drivers on “Didi Hitch,” a ride-sharing facility that let passengers traveling in the […]
Read moreBorrowers may have missed an opportunity to get the last of the low rates, as it now appears interest rates are moving decidedly higher. Mortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 4.5 percent lower than a year ago. The weakness was most pronounced […]
Read moreFacebook-owned Whatsapp has added some new features for group chats to its platform. The new features arrive at a time when competition among online messaging services is rising, with rivals like Telegram and WeChat gaining huge popularity. Here are some of the features being rolled out by the messaging app and what they allow you […]
Read moreTencent reported first quarter earnings on Wednesday that beat market expectations, fueled by its booming gaming business. Shares in Asia’s second-most valuable public company were under pressure coming into the earnings report, with investors fearing potentially lower margins and increasing costs. But the Chinese technology giant dispelled those fears. Here’s how it did: Revenues totaled […]
Read moreCurrency, United States Finance
Top lawyer at Novartis exits in wake of deal with Trump attorney Michael Cohen
Novartis’ top lawyer Felix Ehrat is leaving the Swiss drugmaker, saying a $1.2 million contract he co-signed with U.S. President Donald Trump’s personal attorney was a mistake. The contract with attorney Michael Cohen’s Essential Consultants, the same firm used to pay porn star Stormy Daniels, has distracted Novartis’s efforts to improve its image. “Although the […]
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Italy's populists deny they'll ask for debt forgiveness after clinching power
The Italian right-wing Lega party denied reports that it’s seeking a 250 billion euro ($ 296.16 billion) debt write-off if it becomes part of a power-sharing deal with the anti-establishment Five Star Movement (M5S). Lega and the left-wing M5S have been locked in negotiations for more than two months, trying to find a political deal […]
Read moreFormer UN Secretary-General Ban Ki-Moon is worried about America’s image when it comes to establishing credibility in its upcoming talks with North Korea. President Donald Trump’s recent decision to withdraw from the Iranian Nuclear Deal does not set a good precedent for reliability and that will matter to North Korea President Kim Jong Un during […]
Read moreGeorge Soros‘ investment firm bought a large amount of Tesla bonds in the first quarter of 2018, giving the under pressure electric carmaker a major backer, a regulatory filing shows. Soros Fund Management bought $35 million worth of convertible notes, which are bonds that can be converted into a specified number of common stock, according […]
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