Google-backed fusion energy development firm, TAE Technologies has reportedly raised USD 280 million from existing and new investors during its latest funding round. Although the company’s latest valuation is currently unknown, it was previously worth USD 2.6 billion in May 2019. According to reliable sources, TAE Technology intends to use fresh investments to expand its power management solutions, which is predominately utilized for speedy and efficient charging of electric vehicles as well as electronic grid applications. Moreover

Prosus NV, a leading Holland-based tech investor, has reportedly sold 2% stake in Chinese technology giant, Tencent Holdings Ltd., for approximately $14.7 billion. The deal was announced by the Chinese social media and gaming firm on Thursday, making it the biggest block trade in the world to date. According to reports, Tencent, through a filing in the Hong Kong Stock Exchange, stated that Prosus has sold approximately 191.89 million company shares for more than $14.67 billion, diluting down its existing stake in the company to 28.9%. Pro

Jeff Bezos, founder and CEO of the e-commerce giant Amazon has reportedly stated that he supports raising taxes on the US companies. The statement apparently comes as President Joe Biden is emphasizing on raising the corporate rate from 21% to 28%. The rise is expected to support the massive investment plan to upgrade the country’s roads, water pipes, ports and internet. Bezos stated that Amazon supports the president’s focus on infrastructure development and urged both Democrats and Republicans to work together to reach an ag

Life is expected to return to normalcy in England following Prime Minister Boris Johnson’s consent for reopening shops, pubs, hairdressers and gyms across the country effective from next Monday. However, Johnson has not commented on when the foreign holidays could resume expressing apprehension about the spread of coronavirus in the country. According to the Prime Minister, taking a step towards to the next stage of government’s roadmap out of the lockdown was completely justified by the successful rollout of the vaccine and decline in the COVID-19 cases and hosp

Amidst the continuous rise in the cases of COVID-19 infections across Europe, the region is facing a new challenge as highly contagious variants of the coronavirus are spreading rapidly among the population. According to genomic analysts, nearly 75 per cent of the cases of coronavirus infection in Europe are of the highly contagious variant of the virus, which originated in Kent, UK. Reportedly, about three per cent of the cases have been identified as the Brazilian and South African strains, which according to the scientists are likely t

China based smartphone and IoT major, Xiaomi, has officially announced that it is venturing into the electric vehicle segment and is going to establish a wholly owned subsidiary that will operate its new smart EV business. This new venture will reportedly be headed by the founder and CEO of Xiaomi, Lei Jun as its CEO. It has been reported that the company will initially invest $1.52 billion into the business with the total investment reaching to $10 billion over the span of ten years. At present it is unclear if Xiaomi will sell the cars

British industrial and metal company, Liberty Steel, along with its 3,000 employees, is reportedly seeing concerns about its future grow as the government has rejected its parent company’s plea for a rescue loan of £170 million. According to reports, the founder of the business empire, Sanjeev Gupta had been seeking additional funding for the company in the three weeks since the fall of its most important financing company, Greensill Capital. According to the sources of knowledge, Gupta’s prospect of finding new funding

American multinational technology firm Cognizant has announced to have acquired Germany’s ESG Mobility, a provider of digital automotive engineering solutions for connected, autonomous, and electric vehicles. Cognizant stated that with this acquisition, about 1000 engineering R&D experts will join the company in the automotive innovation hubs of China, Germany, and the US. For those unfamiliar, ESG Mobility offers services across the automotive software stack, with specialties in connected vehicle applications, electrical and el

Bloomsbury, the leading published behind the Harry Potter book series, has reportedly issued a second profit upgrade for 2021, crediting the COVID-19 lockdowns, which have given rise to a reading boom across the UK. The publisher, who had previously issued its first profit upgrade back in January 2021, claimed that February also proved to be an exceptional month for business as more readers searched for an entertainment source that sustained over longer periods to get them through UK’s third lockdown. According to reports, however,