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Target envisions an upbeat 2022 as supply chain disruptions resolve
Target Corporation reportedly disclosed sizable quarterly earnings on Tuesday (1st March) and anticipates a big improvement in its 2022 figures, exceeding expectations. With supply chain pressures slated to be relaxed in the coming months, shares of the big-box department store chain elevated 14%. ... Read More
Moderna faces lawsuit for patent infringement related to COVID shot
Clinical stage biopharma company Arbutus has finally put an end to the question of whether it would sue Moderna for patent infringement after the latter lost a legal bid to invalidate the two patents of the former in its COVID-19 vaccine in December 2021. Arbutus Biopharma Corp and Roivant’... Read More
Ukraine invasion compelled Norway wealth fund to dump Russian assets
Following Russia’s invasion of Ukraine, the former must brace for economic impact as it sees more and more sanctions against it. Norwegian prime minister Jonas Gahr Stoere recently announced that the country’s USD 1.3 trillion sovereign wealth fund will divest its assets in Russia. Th... Read More
Damensch bags USD 16.4 million in Series B funding led by A91 Partners
Damensch, a D2C lifestyle brand, has reportedly secured USD 16.4 million during a Series B funding that was spearheaded by A91 Partners. The fundraising also saw participation from existing investors including Matrix Partners, Alteria Capital, Saama Capital, as well as Whiteboard Capital. For tho... Read More
PDLT looking to build a new Hyperscale data center in the Philippines
PLDT Inc. is reportedly planning to develop an additional 100MW of data center capacity through its industry-leading ICT arm ePLDT, starting with a new hyperscale and a purpose-built facility in Sta. Rosa, Laguna, the Philippines. VITRO Sta. Rosa, ePLDT VITRO's 11th data center, will be built... Read More
Redpanda secures USD 50 Million in Series B funding round led by GV
Redpanda Data has reportedly raised USD 50 million in a Series B fundraising, led by GV, with participation from Lightspeed Venture Partners (LSVP) and Haystack Venture Capital. For those unaware, Redpanda is a modern streaming platform that provides developers with a simple, quick, reliable, and... Read More
Russia-Ukraine conflict escalation signals heavy dips in stock markets
Rising tension between Russia and Ukraine in what the West fears could lead to a big war is signaling investors across Russian, Ukrainian, and broader global markets to brace for impact. The looming threat of war has already led to the depreciation of the countries’ assets by billions, but the... Read More
Chinese authorities impose new regulations on food delivery platforms
Chinese authorities have recently ordered food delivery platforms to reduce service fees levied on restaurants to lower the operational expenses of food & beverage companies. This news sent dining and delivery giant, Meituan’s stock spiraling down by 15% on Friday, wiping out nearly USD... Read More
NxtGen eyes data center expansion in India with USD 174 Mn investment
NxtGen Datacenter and Cloud Technologies is reportedly planning to invest around USD 174 million to establish 236 edge centers and 10 additional data centers in India. The company is currently in the process of securing USD 100 million in funding by the end of the first quarter. The cloud storage... Read More
Byju’s to invest USD 200 Mn in offline tuition centers over 18 months
India’s Ed-tech unicorn Byju’s is reportedly planning to invest approximately USD 200 million towards establishing offline tuition centers which will provide education to students from grades 4 to 10 over the next 18 months. Byju’s has been eyeing the offline space for a while, ... Read More