In 2013, Carl Icahn took on the biggest company in the world. The activist built a 1 per cent stake in Apple, slammed its “ridiculous” cash hoarding, demanded a $150bn share buyback and threatened to force a shareholder vote. He was taken seriously, by the market and the company. Apple’s stock rose when he bought…
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Samsung Electronics estimated its fourth-quarter operating profit jumped 52.5 per cent on strong demand for server memory chips and increasing orders for contract chip manufacturing, fuelling hopes of a semiconductor price recovery. Operating profit for the world’s biggest producer of computer chips and smartphones was projected at Won13.8tn ($11.5bn) in the quarter ended December, but…
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Fintech reports for 2022 Too much information here by far to make any kind of sense of it so I’m not going to try. Suffice to say that we’ll see more of the same, large amounts of money chasing loss making companies with wildly optimistic valuations and a market place that understands technology but which…
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The history of hi-fi and video technology flops is long and sometimes amusing, as long as you are not a victim. Imagine the disappointment of the family who splashed out excitedly on a 3DTV, paying £50 a head for goggles, only to find the picture just left them dizzy. Or the film buff who in…
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Initial public offerings set a new record last year. The trickle down effect means a funding boom for the start-ups that hope to become the next Coinbase or Robinhood. CBInsights reports 959 unicorns are now valued at $1bn or more. The majority are US tech companies. Many are headed for public markets. Amid the record-breaking…
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Hyundai Motor envisions an interactive and partially virtual future it calls “metamobility,” in which a variety of robotic devices interact with humans to provide a wide range of mobility services, from automated personal transport to remote control of robots in factories. Hyundai executives, led by Chief Executive Euisun Chung, elaborated on the vision during a…
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People wearing protective face masks walk in the Tuileries Gardens in Paris amid the coronavirus disease (COVID-19) outbreak in France, January 5, 2022. REUTERS/Gonzalo Fuentes The French parliament on Thursday approved President Emmanuel Macron’s plans for a vaccination card to curb the spread of the Omicron variant after Macron sparked a tumultuous debate whipped…
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Toshiba’s second-largest investor is calling for a showdown. Singapore-based hedge fund 3D wants an extraordinary meeting where shareholders would vote on the break-up plan of the Japanese conglomerate. For now, activists are the more convincing advocates of a turnround than Toshiba’s own management. Toshiba plans to split into three separately listed parts: infrastructure services, devices…
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Vehicles are stuck in gridlock in the morning on the Interstate Highway I-95 near Stafford, Virginia, U.S., January 4, 2022 in this still image obtained from a social media video. Susan Phalen/via REUTERS (Susan Phalen/via REUTERS / Reuters Photos) A viral video from TikTok shows how a bread truck driver was able to provide much…
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Image Credit: (Renee Schiavone/Patch) The winning ticket for the last Powerball was sold at a convenience store in Sacramento. According to the lottery site, the ticket was sold at 7 Eleven on Wyndham Drive. The ticket price is $315 million. The other winning ticket, which hit five out of five numbers, was sold to a Chevron…
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