Business

Kanye West agrees to buy social media app Parler

American rapper Kanye West, who now goes by Ye, has agreed in principle to buy Parler, the social media platform popular among U.S. conservatives, parent company Parlement Technologies said on Monday. Nashville-based Parler, which has raised about $56 million to date, said it expects the deal to close during the fourth quarter of 2022. It […]

Business

Publicis hikes 2022 guidance once again after Q3 beat

Publicis Groupe (PUBP.PA), the world’s third-biggest advertising group, on Tuesday raised its full-year guidance for the second time this year, after posting better-than-expected third-quarter organic revenue growth. The company forecasts organic growth at 8.5% compared with 6%-7% previously and an operating margin rate close to 18%, up from 17.5% to 18%. “For the third quarter […]

Business

Toyota-backed flying car firm Joby seeks Japan air certification

Joby Aviation Inc (JOBY.N), a U.S. air taxi startup backed by Japanese automaker Toyota Motor Corp (7203.T), said on Tuesday it has applied to Japan’s transport ministry for aircraft certification as it prepares to launch urban transportation services. Joby, in which Toyota has invested $394 million, designs and builds all-electric vertical take-off and landing (eVTOL) […]

Business

Shares in BTS’ management rise after band clears uncertainty over military service

The announcement by K-pop mega band BTS that members would serve mandatory military service in South Korea has removed a cloud of uncertainty that has hung over their plans. Investors in HYBE Co (352820.KS), BTS’ management group, responded to the news by driving its shares up as much as 7.8% on Tuesday. The relatively shorter […]

Business

Celestiq EV is GM’s most audacious Cadillac since Great Depression

General Motors Co’s (GM.N) Cadillac brand on Monday pulled the wraps off the Celestiq, a $300,000-plus flagship electric vehicle that is the brand’s most audacious new model since the 1930 Cadillac Sixteen. Unlike the 16-cylinder roadster that was launched just months after the 1929 crash, the 2024 Celestiq has no monster gasoline engine under its […]

Business

Credit Suisse places U.S. asset management arm for sale – source

Credit Suisse Group AG (CSGN.S) recently launched a process that could see its U.S. asset management arm sold, a source familiar with the matter said on Monday, as the troubled Swiss bank seeks to reshape its business after multiple scandals. Initial expressions of interest from potential buyers are due in at the end of this […]

Business

Goldman to merge investment banking, trading as Marcus takes backseat

Goldman Sachs Group Inc (GS.N) is expected to announce a major reorganization of its business lines on Tuesday, combining its trading and investment-banking divisions while likely sidelining its loss-making consumer unit. Observers are questioning the rationale of the expected move, but say it could streamline the storied Wall Street firm. Experts were also puzzled about […]