Showing Category: Business

Kellogg to split into three companies – Snacks, cereals, and plant-based food

Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks, and plant-based foods. Kellogg’s, the company that owns MorningStar Farms, a plant-based food maker, announced on Tuesday 21st June that the spinoff of the yet-to-be-named cereal and plant-based food companies […]

Goldman Sachs forecasts 30 percent chance of US economy tipping into recession

Goldman Sachs said it now thinks that there is a 30% chance of the U.S. economy tipping into a recession over the next year. It is up from its previous forecast of 15%. Wall Street was set to open higher on Tuesday. Moreover, European shares were set for the second day of […]

Hong Kong’s Jumbo floating restaurant sinks in the South China Sea

Hong Kong’s iconic ‘Jumbo Floating’ restaurant has sunk in the South China Sea. Established in 1976 by the late Stanley Ho Hung-sun, a Macau casino entrepreneur, it became a tourist hotspot in the former British territory during the last four decades. “When passing Xisha Islands in the South China Sea, […]

Anonymous bidder pays record $19 million for a private lunch with Warren Buffett

An anonymous bidder went all out to pay a record amount of $19 million in a charity auction for lunch with business tycoon Warren Buffett. The charity lunch is organized to benefit the San-Francisco-based charity GLIDE. The NGO assists the homeless and poor people. The bidder paid a staggering amount […]

Cosmetics giant Revlon files for bankruptcy

Revlon, one of the world’s largest cosmetics companies, applied for Chapter 11 bankruptcy protection on Wednesday evening. It cites a large debt burden and a clogged supply chain as reasons. In what has been a years-long period of retail crisis, Revlon is the first large consumer-facing company to seek bankruptcy protection. Revlon President and […]

Dogecoin investor sues Elon Musk for $258 billion over alleged pyramid scheme

Keith Johnson, a Dogecoin investor, has filed a lawsuit against billionaire Elon Musk. Plaintiff Keith Johnson put forth a complaint in federal court in Manhattan accusing Musk of racketeering for promoting coin and pushing up its value. This comes after Elon Musk announced last year that he will take Dogecoin […]

Google agrees to pay $118 million to settle a class-action gender discrimination lawsuit

Google will pay USD 118 million to 15,500 female employees to settle a gender discrimination suit against them. In 2017, there was a class-action lawsuit registered for gender discrimination. In addition, Google must hire an expert labor economist to assess its recruiting procedures and wage equity studies. Over the next […]

IPL media rights bidding war crosses $5.3 billion mark

The e-auction for the Indian premier league broadcasting rights for the 2023-27 cycle began on 12 June. On the first day itself, the e-auction crossed the $5.3 billion mark. The amount is already doubled from approx $2.5 billion for the 2018 to 2022 broadcasting cycle. At the current e-auction, the […]

Nebati says rates to stay put ; Turkish lira falls again

Turkey’s lira slid to beyond 16.55 against the dollar on Monday, bringing its losses to more than 20 per cent this year, due to concerns about a surge in inflation to a 24-year high and the finance minister’s promise that rate would remain steady. The lira weakened as far as […]

What you need to know about Javier Olivan, the new COO of Meta?

Javier Olivan is taking over as the new Chief Operating Officer of Meta. Here’s everything you need to know about him. Who is Javier Olivan? Javier Olivan has worked at Meta for more than 14 years. He has a vast experience with leading teams and handling several projects such as Instagram, Facebook, […]


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