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Lyft's IPO valuation could be as high as $23 billion

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The company would fetch a public market capitalization, which counts only shares listed, of just over $19 billion at the top end of the indicated price range. Uber has filed confidentially with the SEC and intends to make its listing plans public in April, according to people familiar with the matter. As Bloomberg points out , however, things might not be smooth sailing for Lyft right after its IPO. Read More »

FIS is buying Worldpay for $35.5bn

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Fidelity National Information Services , Inc operates as a financial services technology company in the United States and internationally. The payment service industry works behind the scenes to help complete the process for purchases. FIS shareholders will own about 53% and those of Worldpay will own about 47% of the merged firm. Following the completion of the sale, the chief executive officer now directly owns 183,887 shares in the company, valued at approximately $19,962,772.72. Read More »

Asian shares hold near 6-month highs on hopes of dovish Fed

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All three major United States indexes rose overnight, lifted by banks and tech names, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite adding between 0.3 and 0.4 per cent each. US West Texas Intermediate (WTI) futures stood flat at $59.02 per barrel after touching its highest since November at $59.57 on Tuesday. Precious metal palladium, used in things like auto catalytic converters, dipped after it topped the $1,600 an ounce mark for the first time on supply ... Read More »

Losing Amazon second HQ deal was bad for New York

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A new poll asked NY state voters who was the "hero", "villain" or "role player" in the historic missed opportunity that was estimated to deliver tens of thousands of jobs and $30 billion in tax revenue. "Can everyday people come together and effectively organize against creeping overreach of one of the world's biggest corporations?" In another tidbit that buttresses the findings of the Siena College poll that Ocasio-Cortez is not widely popular, The Daily Wire noted, " Gallup further ... Read More »

Facebook settles with rights groups on ad discrimination

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The changes to Facebook's advertising methods - which generate most of the company's enormous profits - are unprecedented. The social media company is also paying about $5 million to cover plaintiffs' legal fees and other costs. Facebook advertisers can no longer target users by age , gender and ZIP code for housing, employment and credit offers, the company announced Tuesday as part of a major settlement with civil rights organizations. Read More »

Roundup weed killer a big factor in United States man's cancer, jury finds

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Bayer, which acquired Monsanto past year, said in a statement after the verdict that it continues to "believe firmly that the science confirms glyphosate-based herbicides do not cause cancer ". In the United States, more than 750 products contain it. All three bellwether cases will be split into causation and liability phases. However, the US Environmental Protection Agency insists it is safe when used carefully. Read More »

Dublin among the world's 20 most expensive cities

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The survey evaluated the cost of over 150 items in 133 cities around the world. Compared to past year, United States cities have generally "became more expensive globally" due to the strong dollar. A surge in domestic prices, pushing London up eight positions to joint 22nd, is a main factor. However, the fact that the city had jumped six places in two years was "not insignificant". Read More »

The milk price war is over

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The supermarkets confirmed on Tuesday that the price of their two litre and three litre fresh milk would increase by 20 cents and 30 cents respectively, putting an end to their $1 a litre pricing. Mr Bongardt said the decision, which will be rolled out on Wednesday alongside Coles' new pricing, was short-term and reiterated its commitment to the Australian dairy industry. Read More »

Instagram Checkout Is About To Make Your Shopping Habits Even Worse

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Users are required to enter their shipping and billing information only the first time they buy something, and Instagram will save it for future purchases. The feature means it's now easier than ever to spend time ― and money ― on Instagram , which is owned by Facebook. An Instagram spokesperson told TechCrunch , "We will introduce a selling fee to help fund programs and products that help make checkout possible, as well as offset transaction-related expenses". Read More »

SEC calls Musk's first amendment tweet defense 'ridiculous'

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In response, Musk had argued that his "single, immaterial" tweet was in compliance with the settlement, and that the SEC's push to find him in contempt infringed on his free speech. In the SEC's view, all of these topics were potentially significant for Tesla's shareholders, and hence Musk should have sought approval from Tesla's lawyers before tweeting about them. Read More »

Peltz is triple threat of cannabis endorsements

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Nelson Peltz joins the marijuana industry as new strategic advisor with Aurora Cannabis, adding another layer of legitimacy to the emerging industry. TheStreet lowered Aurora Cannabis from a "c" rating to a "d+" rating in a research report on Monday, February 25th. Meant to be replicable and scalable globally, our production facilities are created to produce cannabis of significant scale, with high quality, industry-leading yields, and low per gram production costs. Read More »

Deutsche Bank and Commerzbank confirm merger talks

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A merger of Deutsche Bank and Commerzbank could result in as many as 30,000 job cuts over the long term, a representative of German union Verdi, who is a supervisory board member at Deutsche Bank, told n-tv broadcaster. The merged bank would have roughly €1.8 trillion in assets, such as loans and investments, almost as big as France's largest bank BNP Paribas. The "marriage" between the two entities would lead to creating a mega-institution, owning one-fifth of the country's banking ... Read More »

World’s most expensive cities to live in

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France's capital city, which has been one of the top 10 since 2003, moved up this year, while last year's fourth most expensive city, Hong Kong, jumped up three positions, leading to a tie at the top for the first time. But while parts of Asia remain the most expensive places on Earth, the continent also makes several appearances at the bottom of the list. The report notes, however, that "the trend can also be attributed to changes in the ranking elsewhere rather than US cities becoming more ... Read More »

Fisker plans to launch $40,000, 300-mile electric SUV in 2021

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It'll be priced from under $40,000, the automaker says, when it goes on sale in the second half of 2021, with Fisker intending to sell direct to customers. Fisker said the SUV is the first of three "affordable" models that will be complimented by the EMotion , which will serve as the brand's flagship. Read More »

Qualcomm lands roundhouse in Apple legal battle

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Following the Jury decision on Saturday Qualcomm shares jumped as much as 3.5 percent before finishing up 2.2 percent at the close in NY trading. During an eight-day jury trial, Qualcomm asked the jury to award it unpaid patent royalties of up to $US1.41 per iPhone that violated the patents. Read More »

Anil Ambani thanks brother Mukesh Ambani for support

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The Supreme Court on January 7 issued notice to Reliance Communication Ltd (RCom) Chairman Anil Dhirubhai Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues. Ericsson had moved a bankruptcy court in 2017 alleging it had not been paid dues of around Rs 1,600 crore after signing a deal in 2013 to operate, maintain and manage the telco's nationwide network. Read More »

General Motors: Ohio plant fate to be resolved between GM, UAW

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The president also expressed frustration that "talks" between General Motors and the United Auto Workers Union would begin in September or October. Why wait, start them now! "Because the economy is so good, General Motors must get their Lordstown, Ohio, plant open, maybe in a different form or with a new owner, FAST!" President Donald Trump is calling on General Motors to reopen their recently closed plant in Lordstown, Ohio. Read More »

Cboe Exchange Puts Brakes on Bitcoin Futures Listing

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The exchange is considering how it should approach the space with respect to its digital asset derivatives trading. Cboe , along with rival Chicago futures exchange CME Group, made a big splash in late 2017 when each introduced bitcoin futures contracts. Read More »

Watchdog: Venezuela's oil industry at risk of collapse

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It is predicted that the U.S., Brazil, Iraq, Norway, United Arab Emirates (UAE) and Guyana will be the countries that will make the greatest contribution to global oil supply to respond to the increase in global demand. Market shortages have been exacerbated by United States sanctions on oil exports by OPEC members Iran and Venezuela . IEA President Fatih Birol, whose remarks were included in the report, said that there might be extraordinary changes in the global oil industry in the ... Read More »

VW chief apologises for Auschwitz pun

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Speaking to workers at a VW event earlier this week, CEO Herbert Diess coined the line " EBIT macht frei " - a German phrase that echoed "Arbeit macht frei ", the false promise "Work makes you free" that was emblazoned atop the wrought-iron gates of the Auschwitz concentration camp. Read More »

Tata Motors' Jaguar Land Rover recalls 44,000 cars over CO2 emission levels

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Neil Barlow, head of vehicle engineering at the Driver and Vehicle Standards Agency (DVSA), which administers vehicle recalls , said: "DVSA's priority is to protect everyone from unsafe drivers and vehicles". Speaking with Automotive News Europe , Greg Archer, UK director for the European environmental pressure group, said: "JLR has clearly been minimizing the declared Carbon dioxide and under estimating emissions". Read More »

Uber plans to kick off IPO in April

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The ride-hailing company has yet to publicly file financial paperwork for its IPO, but recently said it lost an adjusted US$1.8 billion past year. Uber and Lyft, ride-sharing companies which represent direct competitors in the industry of getting a quick and cheap ride anywhere in the world where Lyft and Uber applications are supported, have submitted their IPO filings to the Securities and Exchange Commission at the end of 2018 around the same time. Read More »

HEXO to acquire and Newstrike Brands for $263M

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Newstrike shareholders will receive 0.06332 Hexo shares for each Newstrike share owned. "They're fully supportive of the deal, and without their support we would not have done the deal", St-Louis said in a phone interview. PM Rendon, spokesperson for Newstrike , told INN the partnership with Inner Spirit "will continue as before" after the Hexo acquisition is completed. Read More »

Mike Ashley turns up heat in dispute with Debenhams

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Debenhams said any third party loan offer on the terms offered would require both the consent of its existing lenders and bondholders as well as "material amendments" to existing facilities. It is the latest twist in the retail mogul's bid to take control of Debenhams , which he already owns 30% of through Sports Direct . This came as Sports Direct also revealed on Wednesday that it had made a complaint to the City watchdog over communications from Debenhams . Read More »

UAE slams European Union for inclusion in tax haven blacklist

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Abir is confident policymakers will act in the best interests of consumers to ensure continued level-playing-field access to our markets claims-paying capital and risk-management expertise.”. In light of this we expect Bermuda, and other compliant jurisdictions, to be removed from the list at the next available opportunity". Pierre Moscovici , EU's tax commissioner stated that the blacklisting system is successful because it drives countries to put an end to cases of "harmful tax regimes". Read More »