Tag: Hard Fork

Morgan Stanley’s $13B E-Trade buyout is the biggest bank deal since the financial crash

Morgan Stanley has just struck the largest deal made by a global bank since the 2008 financial crisis. Pending regulatory approval, the Wall Street veteran is to acquire trading platform E-Trade for $13 billion in a bid to capture the “everyday investor” market. The move will bring E-Trade’s 5.2 million clients onto Morgan Stanley‘s books, […]

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The US takes Facebook to court over $9 billion in (allegedly) unpaid taxes

Facebook is squaring off against the US over more than $9 billion in allegedly unpaid taxes, Financial Times reports. The US‘ Internal Revenue Service (IRS) says Facebook intentionally “downplayed” intellectual property (IP) it transferred to a subsidiary in Ireland in 2010. Facebook valued that IP, which reportedly includes software and trademarks, at $6.5 billion. The […]

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Buffett dumps $800M worth of Apple stock, invests in biotech and groceries

Famed investor Warren Buffett sold at least $800 million worth of Apple stock last quarter, BusinessInsider reports citing SEC filings published last Friday. The Buffett-led Berkshire Hathaway unloaded 3.7 million shares between October and December last year, when Apple‘s share price rose by more than 30% (from $219 to $294). Despite selling off 3.7 million […]

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T-Mobile’s merger with Sprint is now worth $40 billion, thanks to the bulls

The state of New York will not appeal the approval of a $40 billion merger between wireless carriers T-Mobile and Sprint, Reuters reports. Instead of fighting the deal, the state’s Attorney General Laetitia James told reporters her office is looking towards ensuring consumers receive better service and lower prices, highlighting that T-Mobile committed to creating […]

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Amazon stalls Microsoft’s $10B ‘war cloud’ contract with the US gov

A US federal judge sided with Amazon on Thursday to temporarily block a $10 billion government contract awarded to its rival Microsoft, Financial Times reports. The ecommerce giant requested the Court of Federal Claims to impose an injunction on the Joint Enterprise Defense Infrastructure (JEDI) contract, which would see Microsoft build an enormous cloud environment for […]

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15 hedge fund managers earned $12B last year — thanks to bullish tech stocks

Just 15 hedge fund managers collectively earned $12 billion last year, fueled by bullish tech stocks like Facebook and Microsoft. Even more impressive, Bloomberg reports that five of those managers reaped more than $1 billion all by themselves in 2019. While most of the profits go directly to their clients, these top funds generally take 20% […]

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Sprint stocks up 75% after judge approves $26.5 billion T-Mobile merger

An anticipated $26.5 billion merger between telecommunications powerhouse T-Mobile and the failing Sprint has triggered markets into overdrive, with Sprint’s stock price surging 75% as markets opened Tuesday. Both The Wall Street Journal and The New York Times reported that a federal judge was to rule in favor of the merger today, which would see T-Mobile‘s […]

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The US government lost $1.7 billion by selling Bitcoin too early

The United States is likely to have missed out on around $1.7 billion by auctioning off seized Bitcoin BTC way too soon. Using back-dated market rates, cryptocurrency enthusiast Jameson Lopp built a handy portal to estimate the amount of money those sales have generated since 2014. Introducing the US Marshals Bitcoin Auction realtime schadenfreude tracker. As of today, […]

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