Francis Dufay told Bloomberg TV the African e-commerce company is implementing AI across operations, logistics, finance, and marketing, and intends to be profitable by the end of the year. The 200 jobs disappearing now sit on top of a workforce that has already shrunk by more than half since 2022. Jumia Technologies is preparing to […]
Two AI memory rallies, one country, and a market cap chart that has gone up 9x in two years. If SK Hynix crosses the threshold, South Korea becomes the first country outside the US to host two trillion-dollar companies at the same time. SK Hynix is roughly $50bn away from a trillion-dollar market capitalisation. Its […]
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Ryan Cohen offered $125 a share, partly to be funded by a $20bn TD Securities commitment letter and, briefly, by selling old store signs on eBay itself. The eBay board, which had to ban and then unban him during the process, says no. eBay has formally rejected GameStop’s $56bn takeover bid, telling the video-game retailer’s […]
ServiceNow is looking to raise approximately $4bn in a US high-grade bond sale to refinance debt taken on to fund its acquisition of cybersecurity firm Armis Security, Bloomberg reported on Monday. JPMorgan Chase, Wells Fargo, Barclays and Citigroup organised investor calls on Monday ahead of the issuance. The trade will replace a $4bn unsecured term […]
Prosus is targeting $3.6bn in annual revenue from Just Eat Takeaway, the European food-delivery business it bought for €4.1bn last year, the Napers-controlled investor said in a strategy update on Tuesday. The figure sets a near-term commercial target for the asset that Prosus has spent the past nine months integrating. The company said it plans […]
The two-week trial opened Monday. Shein’s complaint covers around 2,300 product images; Temu has abandoned its defence of those images and is countering with anti-competition claims. Shein accused Temu of copyright infringement “on an industrial scale” as a two-week trial opened at London’s High Court on Monday. Shein’s barrister, Benet Brandreth, told the court Temu […]
