A Leonardo da Vinci painting which depicts Jesus Christ which had been long-lost was sold at an auction for over $450 million on November 15, 2017 and thereby created a world record for the most expensive work of art at auction, according to Christie’s Auction House. Christie’s –presented this painting depicting Jesus Christ holding up…
Economics for the Common Good is a response to the crisis of the economics profession, whose credibility was badly damaged by the financial crisis of 2008. Frenchman Jean Tirole, who in 2014 won the Nobel Memorial Prize in Economic Sciences, has spent years at the Massachusetts Institute of Technology before building a strong economics community…
The Chinese group behind messaging App WeChat has Chinese group per cent stake worth more than $2bn in Snap, the US parent of Snapchat. US teenagers continue to adore Snapchat, using the app more than 25 times a day, but much of rest of the world remains flummoxed and indifferent. Evan Spiegel, the Los…
Hock Tan, Broadcom’s master dealmaker, made an unsolicited $100bn bid for Qualcomm. If Broadcom is successful in convincing Qualcomm’s board, its shareholders and regulators of the merits of the merger, this will be a major deal for semiconductor industry especially Broadcom, which will create a company with a combined market capitalisation in excess of $200bn.…
Pure Gym, a low-cost fitness chain and UK largest Gym by the membership, whose shareholders include Chris Hoy, has been bought by Los Angeles-based Leonard Green & Partners a US Private equity firm for £600m. The sale comes after Pure Gym dropped plans for a London Initial Public offering citing “challenging market conditions”. Pure Gym who brought…
The FTSE 100 share index closed at a new high on Friday 3rd November 2017, up 5 points or 0.07% AT 7, 560.35. Share prices were boosted by Thursday’s fall in pound following the Bank Of England’s first interest rate rise in ten years, as investors digested the very gradual further rises in interest…
CA, a recoganised leader in the management of networks, systems and application performance and cloud computing, has agreed to acquire privately-held NetQos Inc. a leading provider of network performance management and service delivery solutions, for $200 million in cash. As digitisation is transforming businesses in every industry, opening up a $2.1 trillion global market opportunity…
The Bank of England raised interest benchmark rates today from 0.25 % to 0.5%, for the first time in a decade. The monetary policy suggested according to Bank of England, Mark Carney, two further 0.25% increases are needed over the next two years to combat growing inflation. As a result 4 million borrowers will feel…
The London Metal Exchange (LME) , which has kept with technology has lost volumes to over-the-counter trading, is looking at online platforms for industrial metals to recoup profits from, the growing OYC business according to its CEO. Several new electronic metals trading sites have emerged recently, while industry sources say established online venues Trayport and…
Smartphone shipments in India crossed over 40 million for the first time in Q3 2017, a 23 per cent annual growth, compared to China’s shipment of 110 million per quarter. India has overtaken US on sales with only China ahead of it. India’s population is 1.3 billion while the US is 320 million. Earlier this year,…