Apple’s newest services have yet to generate meaningful revenue, making it harder for the largest technology company to expand beyond the iPhone and other hardware.
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Tencent proposed on Monday to buy all of the shares it doesn’t already own in Chinese search engine Sogou, taking the company private and delisting its shares from the New York Stock Exchange.
The biggest US technology companies have gone on a buying spree this year, waving off intense scrutiny from competition watchdogs and critics who say they’ve bolstered their power by snatching up nascent rivals.
Shares of Intel slumped and its rivals surged on Friday after the US chip maker signalled it may give up manufacturing its own components after falling far behind schedule developing its newest technology.
The big deals that Prosus should be winning are slipping through its fingers. It’s not a great start for a company set up to be a deal machine.
South Africa’s benchmark equities index is set to erase its 2020 drop, staging a spectacular snap-back from its March trough following a surge in shares of market heavyweight Naspers.
eBay would prefer to keep a stake in the classified advertising business it’s selling, according to people familiar with the matter, lessening the chances Prosus will win the hotly-contested auction.
Prosus handed in the highest offer for eBay’s classifieds unit, putting the Naspers-owned business in pole position to win one of the largest auction processes this year.
Apple is getting close to overtaking Saudi Arabia’s state-owned oil company in market valuation, a milestone that would make the technology giant the world’s largest company by that measure.
India’s richest man surged past Silicon Valley tech titan Elon Musk as well as Google co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person.