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Business, Economy

“Lamborghini reports record profits in 2020, CEO teases electric future”

“Lamborghini reported record profits in 2020 as its wealthy customers — especially in China — rode the global bull market in style. Despite a mandatory factory shutdown of over two months during the Covid-19 pandemic, the “raging bull” of the… Continue Reading…

Business, Cryptocurrencies

“Square’s Bitcoin Revenue Rises 1100%…”

“Square Inc (NYSE: SQ) on Thursday said the Bitcoin revenue for its Cash App rose 1100% in the third quarter, compared to the same period a year earlier. What Happened: The company’s Cash App Bitcoin revenue touched $1.63 billion. The revenue from the… Continue Reading…

Business

“Cleveland-Cliffs to Buy ArcelorMittal USA for $1.4 Billion”

” Cleveland-Cliffs Inc. will buy the U.S. operations of ArcelorMittal SA for $1.4 billion in cash and shares to become the biggest flat-rolled steel producer in North America. Ohio-based Cleveland-Cliffs expects its second major deal in less than a year to… Continue Reading…

Business, Real Estate

“Michigan State Walk-On Becomes Billionaire by Making Mortgages”

“Mat Ishbia, a former college basketball player who’s now the chief executive officer of United Wholesale Mortgage, is set to become a billionaire after the lender his father founded said it would go public in a deal that values the… Continue Reading…

Business

“Apple has quietly dropped 22% from its peak, giving up $500 billion in market cap”

“It took just 12 trading sessions for Apple to plunge more than 20% from its all-time high, shedding more than half a trillion in market capitalization. The tech giant has plunged 22.6% from its intraday record high of $137.98 from Sept. 2,… Continue Reading…

Business

“Kraft Heinz looks to revamp Oscar Mayer brand, cut 20% of products, as it rethinks business”

“Shares of Kraft Heinz were up 1% in afternoon trading after the company presented its long-term turnaround plan to investors. As its blueprint is implemented, the company is projecting long-term organic sales growth of 1% to 2% and adjusted earnings per… Continue Reading…

Business

“Verizon to buy wireless services provider Tracfone in $6.25 billion deal”

“Verizon Communications said Monday it would buy wireless services provider Tracfone, a unit of Mexican telecom America Movil, in a $6.25 billion cash and stock deal. Several mergers in recent years have led to an increasingly concentrated wireless industry in the U.S.,… Continue Reading…

Business

“Nvidia to buy Arm Holdings from SoftBank for $40 billion”

“Chipmaker Nvidia has agreed to buy Arm Holdings, a designer of chips for mobile phones, from SoftBank in a deal worth $40 billion, the companies announced Sunday. The deal will include $21.5 billion in Nvidia stock and $12 billion in cash, including $2 billion payable at… Continue Reading…

Business

“Papa John’s agrees to open 49 new sites as sales surge…”

“The company announced Thursday a deal in which franchisee HB Restaurant Group will open 49 new locations in Philadelphia and southern New Jersey by 2028. It’s one of Papa John’s biggest such deals in two decades. HB Restaurant Group currently… Continue Reading…