Malaysia’s anti-corruption agency on Monday questioned former economy minister Rafizi Ramli over a billion-ringgit semiconductor deal with British chip designer Arm Holdings, escalating a politically sensitive inquiry that has swept up ministers, senior officials and one of Prime Minister Anwar Ibrahim’s most outspoken former allies. Rafizi, the Pandan MP and a former senior figure in Anwar’s refo...
Malaysia’s anti-corruption agency on Monday questioned former economy minister Rafizi Ramli over a billion-ringgit semiconductor deal with British chip designer Arm Holdings, escalating a politically sensitive inquiry that has swept up ministers, senior officials and one of Prime Minister Anwar Ibrahim’s most outspoken former allies. Rafizi, the Pandan MP and a former senior figure in Anwar’s reformist People’s Justice Party, arrived at the Malaysian Anti-Corruption Commission’s (MACC)...
In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNT A sign is posted in front of the eBay headquarters in San Jose, California. Justin Sullivan | Getty Images U.S. video game retailer GameStop announced Sunday it has made an unsolicited, non-binding offer to acquire eBay for $125 per share in a cash-and-stock deal, valuing the e-commerce platform at roughly $55.5 billion . The off...
In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNT A sign is posted in front of the eBay headquarters in San Jose, California. Justin Sullivan | Getty Images U.S. video game retailer GameStop announced Sunday it has made an unsolicited, non-binding offer to acquire eBay for $125 per share in a cash-and-stock deal, valuing the e-commerce platform at roughly $55.5 billion . The offer, split evenly between cash and GameStop common stock, represents a 20% premium to eBay's Friday close of $104.07, and a 46% premium to its closing price on Feb . 4 — when the gaming retail giant started building a stake in the company, GameStop said in its statement. Shares of eBay surged as much as 13.4% in after-hours trading to around $118. GameStop, which became a so-called "meme stock" during a 2021 retail frenzy that drove sharp gains in its shares, jumped around 4% to $27.6 per share. The announcement came as GameStop Chief Executive Ryan Cohen told the Wall Street Journal that he saw a path to make the e-commerce company a much bigger competitor to Amazon.com . Stock Chart Icon Stock chart icon eBay "EBay should be worth — and will be worth — a lot more money," Cohen said. "I'm thinking about turning eBay into something worth hundreds of billions of dollars." GameStop has built a roughly 5% stake in eBay and secured a commitment letter from TD Bank for up to $20 billion in debt financing to make the deal possible, according to its statement . The remainder of the deal would be funded from its approximately $9.4 billion cash pile. The proposal is subject to approval from eBay's board of directors, regulators, and shareholders from both companies. EBay did not immediately respond to a CNBC request for comment. Both companies have struggled to adapt to shifting consumer preferences, and it remains unclear whether eBay's board will view GameStop — whose own market capitalization stood at roughly $11 billion before the news broke — as a credible acquirer for a company...
Tech firms led a rally across most Asian markets Monday following another healthy day on Wall Street fuelled by more strong earnings, while investors were also cheered by news that Iran had submitted fresh proposals to end its war with the United States.Iran's foreign ministry said Tehran had submitted a 14-point plan "focused on ending the war" and that Washington had already responded to it in a...
Tech firms led a rally across most Asian markets Monday following another healthy day on Wall Street fuelled by more strong earnings, while investors were also cheered by news that Iran had submitted fresh proposals to end its war with the United States.Iran's foreign ministry said Tehran had submitted a 14-point plan "focused on ending the war" and that Washington had already responded to it in a message to Pakistani mediators, which Iran was reviewing.
(RTTNews) - The Australian stock market is extending its early losses in mid-market trading on Monday, but reversing some of the gains in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,700.00 lev
(RTTNews) - The Australian stock market is extending its early losses in mid-market trading on Monday, but reversing some of the gains in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,700.00 lev
Japan's prime minister, Sanae Takaichi, is visiting Australia to strengthen ties with one of her country's strongest allies and build on an updated regional strategy. Bloomberg's Paul Allen has the latest. (Source: Bloomberg)
Japan's prime minister, Sanae Takaichi, is visiting Australia to strengthen ties with one of her country's strongest allies and build on an updated regional strategy. Bloomberg's Paul Allen has the latest. (Source: Bloomberg)
(RTTNews) - Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, with markets in China and Japan closed, as traders remain cautious amid the uncertainty prevailing around the peace proposal to end the Middle East war. Crude
(RTTNews) - Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, with markets in China and Japan closed, as traders remain cautious amid the uncertainty prevailing around the peace proposal to end the Middle East war. Crude