Instacart, an American retail company that specializes in grocery delivery and pick-up services, has announced to pay USD 25 to around half a million gig employees if they take the time off to get COVID-19 vaccination. The company, which has been pushing several government agencies to acquire early access to the COVID-19 vaccine for its delivery workers, claimed that eligible part-time employees including contractors and in-store shippers will also be paid starting February 1st, 2021. For those unfamiliar, a gig worker is an independent c
American multinational technology giant Google LLC has reportedly finalized the acquisition of the leading consumer electronics and fitness company Fitbit Inc. amidst the investigation of this USD 2.1 billion transaction by the Australian and U.S. competition regulators. The U.S. Department of Justice had previously sued Google in late 2020 over its search and search advertising monopoly. However, the Justice Department is yet to reach a final decision whether to continue with an enforcement action regarding the Fitbit acquisition, cited sources with relevant information.
Multinational technology conglomerate, Cisco, and networking technology company, Acacia Communications, have reportedly announced amendment to their definitive merger agreement under which Cisco was set to acquire Acacia. According to the terms of amended agreement, Cisco would reportedly acquire Acacia for $115 per share in cash or for nearly $4.5 billion on completely diluted basis, net of both cash and marketable securities. As per sources knowledgeable of the mater, Cisco and Acacia are anticipated to complete the acquisition by the end of the first quarter of calendar y
Renowned French carmaker Renault’s new CEO, Luca de Meo, has reportedly unveiled a major turnaround plan for the French automotive giant to transform the company’s business model to that of a much leaner car manufacturer. Meo stated that this step is all about moving the entire firm from volumes to value. More than a shift, it is an insightful transformation of its business model. Meo further added that the firm would move from being a car firm working with tech to a tech firm working with cars, making nearly 20% of its revenu
Vancouver headquartered company SaNOtize is reportedly undergoing the first clinical trial in the UK this week for a proposed antiviral nasal spray against COVID-19. Trusted sources cited that the test was scheduled for Monday at Ashford and St Peter’s Hospitals NHS Foundation Trust, Surrey, and will be led by Rob Wilson, a former British government minister who acts as a representative for SaNOtize in the UK and EU. Sources knowledgeable with the matter stated that SaNOtize has developed a patented platform technology, nitric oxide
One of the leading mobile gaming platforms Zupee has reportedly secured USD 10 million in a funding round which was led by U.S.-based private equity firm WestCap Group as well as from its current investor Matrix Partners India. According to authentic sources, the newly secured funds have allowed Zupee to reach a valuation of USD 19 million, including the USD 8 million funding in April 2020. The gaming platform also counts Falcon Edge Capital, Orios Venture Partners, and Smile Group among its investors. The company intends to use the fresh
Leading multinational retailer Marks & Spencer has recently announced the acquisition of fashion brand, Jaeger, from administrators. Reportedly, this deal excludes the retailer’s remaining 63 stores. M&S in this regard has stated that it is looking forward to concluding the procurement of stocks and assets of Jaeger through the end of the month. Apparently, the deal was done in the low millions of pounds. As per the sources of knowledge, this acquisition is a part of M&S’s efforts of selling a wider range of brands online, a strategy that will place i
An investment fund which used to own London’s Gatwick Airport, has reportedly made a nearly $4.63 billion deal to purchase Signature Aviation, a private jet services company backed by Bill Gates, outbidding contending suitors, private equity giants, Carlyle and Blackstone. Shares in Signature Aviation, which operates bases utilized by private jets around the globe, rose to 9% to top the midcap index of UK on Monday, amidst rumor of a counter bid. As per an official statement by Signature’s spokesman, nothing stops Carlyle and
The U.K communications regulator has reportedly given licensing approval to the Starlink broadband system of SpaceX, the renowned California-based aerospace company founded by Elon Musk. The approval has paved the way for Musk’s venture to foray into another major market. Supposedly, according to an Ofcom spokesperson, the approval was granted to the company in November with countries including Australia, Germany, and Greece having also granted approvals to the innovative system. Elon Musk, who is currently the world’s richest