In today’s top news, Oracle is reportedly looking to acquire TikTok, and Citigroup filed suit to reclaim $176 million that it mistakenly sent to Brigade Capital. Plus, Robinhood raised $200 million, valuing the company at $11 billion.
Oracle is working with a group of venture capital firms that already own a stake in ByteDance to outbid Microsoft in an attempt to buy TikTok.
Citigroup Inc. has asked a federal judge to order Brigade Capital Management LP to return $176 million that was accidentally paid to the New York-based global investment firm. Citigroup intended to send Brigade $1.5 million to cover interest payments on behalf of Revlon, but mistakenly transferred more than 100 times that amount.
Robinhood Markets Inc., the commission-free online brokerage that offers a mobile app to invest in stocks, ETFs and options, announced a $200 million Series G funding, bringing its valuation to $11.2 billion.
Samsung has launched a new digital card, accessed through Samsung smartphones and watches, that combines a range of debit cards and credit cards from a range of banks onto a single platform, with the aim of helping users better manage their finances and credit.
Either as a floating home or as a full-ticket hedonistic getaway, yacht sales are booming despite a global pandemic and recession. Why? Alfred Law, director of the iconic yacht brand Sunseeker, says the industry is attracting millennials and other young customers, giving it surprising buoyancy.
Digital-first businesses that need capital as a cushion for lumpy cash flow are finding that tapping their banks for funds can be tedious and slow, says Abe Shak, CEO of accessories retailer The Time Store. In this month’s Payments Powering the Platform Economy Report, Shak explains how alternative lenders are stepping in.
The economy may be in stasis, but the real estate market is booming, pushed by younger first-time buyers looking to take on the joys of homeownership. How did real estate get to be recession-proof this time around, and what part will it play in the recovery effort?