Deal

    • Facebook agrees to pay to 170 Australian newspapers

      Facebook agrees to pay to 170 Australian newspapers

      The social network conglomerate agreed to provide financing for setting an innovation fund in Australia as part of a licensing deal with local media, Reuters reported. Under the agreement some 170 local Australian newspapers are set to receive cash from the giant. That brings closer series of agreements announced by Facebook in Australia since the country legislated to make it and Google negotiate content payments to media outlets amid clearb threats of government arbitration.

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    • Panasonic cashes huge profit on Tesla stake sale

      Panasonic cashes huge profit on Tesla stake sale

      Japanese conglomerate Panasonic announced it had managed to sell its stake in the electric cars producer Tesla, Reuters reported. The sale brought enormous profit equaling about seven times the initial invested sum. Panasonic received $3.61 billion for its stake in Tesla. The sale comes as Panasonic tries to reduce its dependence on Tesla and channel the profit to new investments.

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    • Visa buys European Tink platform for €1.8bn

      Visa buys European Tink platform for €1.8bn

      The international card operator Visa announced it had agreed terms to acquire European open banking platform Tink for a total of 1.8 billion euros, Reuters reported. The deal comes in effect a few months after Visa dumped plans to acquire US rival Plaid. Tink was established in Sweden in 2012 and enables banks and other financial firms to access consumer financial data more easily. It is used by more than 3,400 banks and other institutions, as well as over 250 million customers across Europe.

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    • Ackman buys 10% of Universal Music for 3.5bn euro

      Ackman buys 10% of Universal Music for 3.5bn euro

      The company of the billionaire investor William Ackman Pershing Square Tontine announced it had sealed a deal to acquire 10% of Universal Music for 3.5 billion euros, Reuters reported. UMG, which is being spun-off by France's Vivendi, will complete its planned Euronext Amsterdam listing in late September.

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    • US urges G20 to back minimum tax deal

      US urges G20 to back minimum tax deal

      US Treasury Secretary Janet Yellen is focusing efforts to gather support to back the minimum corporate tax deal after the agreement was approved at last week's G7 summit in Britain, Reuters reported. In her latest move Yellen debated on the tax deal with the Finance Minister of Mexico Arturo Herrera.

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    • eBay sells its South Korean business for $3.6bn

      eBay sells its South Korean business for $3.6bn

      The e-commerce giant eBay has decided to sell its business in South Korea for a total of 3.6 billion dollars, Reuters reported. Buyers are two companies – the retailer Shinsegae Group's E-Mart and the web portal operator Naver. eBay is Korea's third-largest e-commerce firm with market share of about 12.8% based on estimates related to 2020 by Euromonitor. It operates the platforms Gmarket, Auction and G9.

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    • GSK pays $2bn for cancer drug tie-up

      GSK pays $2bn for cancer drug tie-up

      UK leading pharmaceutical producer GlaxoSmithKline announced it had reached an agreement to pay two billion dollars to US iTeos Therapeutics, Reuters reported. The payment is aimed to facilitate a tie-up to develop and sell a potential cancer treatment together. The US firm will receive a $625 million upfront payment and is eligible to get up to $1.45 billion more if the programme meets certain development and commercial milestones.

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    • Vertical aims $2.2bn SPAC IPO deal

      Vertical aims $2.2bn SPAC IPO deal

      US electric vertical takeoff and landing firm Vertical Aerospace, announced plans to go public through a SPAC deal in a bid to raise as much as 2.2 billion dollars, Reuters reported. The production of the eVTOL aircraft has gained backing by key investors like American Airlines. Vertical Aerospace said it has pre-orders for up to 1,000 eVTOL aircraft with launch customers that also include Avolon, along with a pre-order option from Virgin Atlantic, all valued at up to $4 billion.

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    • G7 debates on global tax deals

      G7 debates on global tax deals

      The finance ministers o the world wealthiest countries are set to agree on taxation of technological conglomerates and at the same time mull a global minimum corporate tax at a two-day meeting in London, BBC reported. UK financial minister Rishi Sunak expressed optimism over the on-going talks related to the global digital taxation. The positive outlook comes after US earmarked puntitive tariffs on EU goods but soon later suspended them to allow the talks to continue.

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    • EU rules on AstraZeneca-Alexion $39bn merger

      EU rules on AstraZeneca-Alexion $39bn merger

      EU antitrust regulators are expected to rule by the beginning of July if they allow a merger between the pharmaceutical conglomerates AstraZeneca and the US Alexion, Reuters reported. The value of the expected deal is estimated at some 39 billion dollars. AstraZeneca is a producer of one of the approved vaccines against Covid-19.

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