Shopee, the Amazon of Southeast Asia, has been on a layoff spree within a year of raising $6 billion. We dug into the fi

On September 19, Singapore-based ecommerce giant Shopee announced its latest round of layoffs. Shopee is pivoting from a growth mindset to cutting costs as external funding dries up. It’s one of many tech giants downsizing as Fed rate hikes push investors to safe-heaven investments. As employees trickled into the offices of Singapore-headquartered ecommerce platform Shopee … Read more

Microsoft cofounder Paul Allen’s $1 billion art collection, containing more than 150 masterpieces, is heading to auction

More than 150 pieces of art owned by late Microsoft cofounder Paul Allen are going up for auction in November. The pieces, spanning 500 years of art history, could raise $1 billion for philanthropic efforts. The artworks come from the likes of van Gogh, O’Keeffe, Monet, Seurat, and more. Take a look at some highlights … Read more

Japan pledges $2 billion in funding for pandemic vaccine research initiative

The Japanese government has earmarked $2 billion in funding for vaccine research in an effort to make sure its country is better prepared for any future pandemic, according to . Japan other countries not just in developing vaccines, but also in approving them when it came to . As the publication points out, three of … Read more

Byju’s clears $230 million payment to Blackstone for $1 billion Aakash deal

Byju’s has cleared all its dues to Blackstone by paying $234 million it owed the global investment giant for the , a source familiar with the matter told TechCrunch, addressing one of the criticisms levelled against the Indian edtech giant in recent months. The Bengaluru-headquartered startup, , had pushed back on some payments for the … Read more

Government to borrow more than £70 billion to fund energy help and tax cuts

The Government will borrow an extra £70 billion over the coming months to fund its massive energy bills support for households and businesses. The combined energy schemes will cost around £60 billion over the first six months, the Chancellor announced on Friday. The business relief package, which provides companies with a discount on their bills, … Read more

Meta’s reported cost cutting could save $5 billion, according to Morgan Stanley

With user growth slowing due to intense competition from TikTok and a more focused Mark Zuckerberg, the layoff axe may be about to swing at Meta as it looks to jump-start its sagging stock price. The social media giant is planning to slash expenses by at least 10% in the coming months, according to a … Read more

SoftBank slashes Oyo’s valuation to $2.7 billion

SoftBank, the largest backer of Oyo, has cut the Indian hotel chain startup’s valuation to $2.7 billion despite its claims of improved finances in recent months, a person familiar with the matter said. The Japanese conglomerate, which had slashed its internal valuation of Oyo to $3.4 billion earlier, further slashed the valuation of Oyo by … Read more

Banks Offload $8.55 Billion of Citrix Debt at Rock-Bottom Prices

(Bloomberg) — A group of banks led by Bank of America Corp. and Credit Suisse Group AG has finally offloaded more than half of the $15 billion debt package supporting the buyout of Citrix Systems Inc. at steep discounts. Most Read from Bloomberg The $4 billion secured high-yield bond portion of the deal priced at … Read more

Global Third Party Logistics (3PL) Market Report – DCC/FF Segment Corners to Reach $161 Billion by 2026

Global Market for Third Party Logistics (3PL) Dublin, Sept. 21, 2022 (GLOBE NEWSWIRE) — The report has been added to ResearchAndMarkets.com’s offering. The global market for Third Party Logistics (3PL) estimated at US$974.6 Billion in the year 2022, is projected to reach a revised size of US$1.3 Trillion by 2026, growing at a CAGR of … Read more

Sterility Indicators Market to hit USD 1.5 billion by 2030, says Global Market Insights Inc.

Sterility indicators industry is anticipated to register 9% CAGR between 2022 and 2030 owing to increasing number of drug launches. Selbyville, Delaware, Sept. 21, 2022 (GLOBE NEWSWIRE) — The sterility indicators is projected to exceed USD 1.5 billion by 2030, according to a new research report by Global Market Insights Inc. Increasing application of chemical … Read more