Bloomberg

Peloton Interactive Inc (NASDAQ: PTON) lowered the FY21 revenue guidance from $4.075 billion to $4 billion to reflect the short-term impact of the treadmill recall, Bloomberg reports. The sales stoppage of the Tread+ and Tread and the recall costs is estimated to reduce revenue by...

Bank of England Governor Andrew Bailey is advising investors to only buy Bitcoin (CRYPTO: BTC) and other crypto assets if they are ready to lose everything. What Happened: According a Thursday Bloomberg report, Bailey warned investors about crypto assets and said to "buy them...

Members of the trading subreddit WallStreetBets fell victim to a targeted scam. What Happened: According to a Tuesday's Bloomberg report, a scam targeting WallStreetBets could have left its victims with at least $2 million in losses. A Telegram group named “WallStreetBets...

One of the most popular names in the SPAC world is Chamath Palihapitiya. After months of not announcing a deal or financing the PIPE on an announced deal, Palihapitiya’s name has popped up on a rumor Tuesday night. What Happened: Equinox, an owner of gyms and the majority owner of SoulCycle...

Uber Technologies Inc (NYSE: UBER) ride-hailing peer, Bolt Technology OU, will initially launch a car-sharing project, Bolt Drive, in the Estonian capital, Tallinn, at steeply lower prices compared to the competition, Bloomberg reports.  It will follow by subsequent expansion...

Canada’s Power Corporation Of Canada’s (OTC: PWCDF) online brokerage, Wealthsimple, has raised $610 million (C$750 million) at a $4 billion valuation, over three times its October valuation, Bloomberg reports. Existing investors Meritech Capital Partners and...

Intel Corp (NASDAQ: INTC) CEO Pat Gelsinger expects the pandemic-induced home gadget-led global semiconductor chip crisis for the different industries to extend for several years, Bloomberg reports. The company was reworking some of its factories to drive production and counter the...

The semiconductor chip crisis-fueled car production cuts have compelled the rental-car companies like Hertz Global Holdings Inc (OTC: HTZGQ) and Enterprise Holdings Inc to purchase used cars from auctions, Bloomberg reports. The rental car companies...

Emergent BioSolutions Inc (NYSE: EBS) has manufactured over 115 million doses of drug substance used in the Johnson & Johnson (NYSE: JNJ) COVID-19 vaccine, 60 million doses of which are in vials and ready to deploy at U.S. regulators’ discretion, reports...

Turkish retail delivery app, Getir is planning at least $500 million at a minimum valuation of $7 billion to fund its U.S. expansion, Bloomberg reports. Getir is aiming for a U.S. initial public offering after two years. Startups like Getir and Berlin’s grocery delivery app Gorillas...

Bausch Health Companies Inc (NYSE: BHC) said in August that it would spin off its eye-care unit and operate it as an independent, publicly traded company. As a standalone company, Bausch + Lomb could be valued at $20 billion to $30 billion, according to Bloomberg Intelligence. The...

Brooklyn’s $2,199 rowing machine start-up, Ergatta, has raised $30 million at a $200 million valuation, Bloomberg reports. Ergatta focuses on unique home workout trends with a sporty flavor, offering respite from instructor-led classes. Peloton Interactive Inc (NASDAQ: ...

A Dutch software company, MessageBird, is set to acquire email marketing firm SparkPost for $600 million in an all-cash deal to strengthen its North American focus and competition with Twilio Inc (NYSE: TWLO), Bloomberg reports. Twilio’s value has grown from $1.23 billion...

Sony Group Corp (NYSE: SONY) will repurchase up to $1.8 billion (200 billion yen) shares after posting quarterly profit below expectations, Bloomberg reports. Earnings: The March quarter operating profit of 66.5 billion yen missed the analyst estimate of 74 billion yen. Sony...

Spotify Technology SA (NYSE: SPOT) launched a feature enabling podcaster to mark subscriber-only episodes, following Apple Inc’s (NASDAQ: AAPL) similar talent-attracting move, Bloomberg reports. Users would be entitled to 100% revenue retention over the next two...