Tag: Report

TikTok rival Triller exploring IPO through SPAC merger: Report

  • Video app Triller is exploring the possibility of an IPO, sources told Reuters.
  • The company is reportedly in talks to set up a public listing via a merger with a special purpose acquisition company (SPAC).
  • It is simultaneously pursuing a private funding round, and sources told Reuters it had raised $100 million at a valuation of $1.25 billion so far.
  • The sources said no deal is yet firm, and that Triller is still deciding which path to take.
  • Visit Business Insider’s homepage for more stories.

Short-form video app Triller, which bills itself as a rival to the wildly successful TikTok, is reportedly exploring an IPO.

Reuters reported Sunday that Triller was in talks with investment bank Farvahar Partners about a potential merger and IPO.

Sources told Reuters the merger, if successful, would be with a special purpose acquisition company (SPAC). 

SPACs are essentially shell companies that go public to raise

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70% of video game revenue in world’s top market comes from China’s smaller cities, report finds

  • Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.
  • The country is the world’s top game market and will generate an estimated $40.85 billion in revenue this year, according to Newzoo.



a statue of a person: People visit the stand of Tencent's mobile game 'Glory of Kings' during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.


© Provided by CNBC
People visit the stand of Tencent’s mobile game ‘Glory of Kings’ during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.

SINGAPORE — Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.

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“76% of gamers in China live in Tier 3-5 cities, accounting for 70% of game revenue,” Niko Partners said in a synopsis of its China Gamers Report.

Cities in China are classified

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China’s smaller cities spend the most on video games nationally: Report

People visit the stand of Tencent’s mobile game ‘Glory of Kings’ during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.

Zhou You | VCG via Getty Images

SINGAPORE — Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.

“76% of gamers in China live in Tier 3-5 cities, accounting for 70% of game revenue,” Niko Partners said in a synopsis of its China Gamers Report.

Cities in China are classified by tiers based loosely on population and economic size. For example, places such as capital Beijing and Shenzhen are generally considered tier-one cities, while lower-tier cities are smaller.

The country is the world’s top game market and will generate an estimated $40.85 billion in revenue this year, according

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10 Insights From Microsoft’s Latest IoT Signals Report

  • One in three enterprises is increasing their investments in IoT as a result of Covid-19.
  • 79% of enterprises adopting IoT see AI as either a core or a secondary component of their strategy.
  • 97% have security concerns when adopting IoT, with network-level security being most important (43%), followed by device track & management and endpoint security (both 38%).
  • Businesses adopting IoT believe they’ll see a 30% ROI on their IoT projects.

These and many other insights are from Microsoft’s IoT Signals Report, Edition 2, published on October 2nd. IoT Signals is published annually to provide Microsoft partners, customers and business leaders the insights and

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Sector Watch: Financials set to report after clearing major technical resistance (NYSEARCA:XLF)

Financial earnings will dominate the current week as the sector tries to break out of its malaise that made it an underperformer throughout the summer’s recovery rally.

JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) will report results ahead of the bell Tuesday. Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and U.S. Bancorp (NYSE:USB) will weigh in on Wednesday premarket. Morgan Stanley (NYSE:MS) and Charles Schwab (NYSE:SCHW) report earnings Thursday and BNY Mellon (NYSE:BK) and State Street (NYSE:STT) issue numbers Friday.

Trading revenue and credit loss estimates, which will give an indication of the pace of the economic recovery, will be in focus.

The SPDR Financial Sector ETF (NYSEARCA:XLF) had a comparatively good run last week amid all the volatility caused by stimulus optimism and pessimism, rising 3.8%. All but three components finished the week in the green, with SVB Financial (NASDAQ:SIVB), State Street and Invesco

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Report details causes of recent California rolling blackouts

August 14 and 15 saw a heatwave drive rolling blackouts. And then on August 16, a station in Death Valley hit 130°F...
Enlarge / August 14 and 15 saw a heatwave drive rolling blackouts. And then on August 16, a station in Death Valley hit 130°F…

In mid-August, just before dry lightning storms ignited a series of fires that would break records in California, an intense heatwave resulted in rolling blackouts on two consecutive days. The trouble came in the evening, when solar generation drops off, leading some to claim this was the consequence of relying on renewable electricity. But it’s not that simple, as the outages could have been avoided. A new “preliminary root cause analysis” report from two state commissions and the California Independent System Operator that runs the grid presents a clearer picture of what went wrong.

The rolling outages affected a few hundred thousand people starting around 6:30pm on both August 14 and 15. They were actually the result of the grid’s rules: once the remaining reserve generation

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Sam Howell Throws 3 TDs, Leads No. 8 UNC to 56-45 Win over No. 19 Virginia Tech | Bleacher Report

North Carolina quarterback Sam Howell (7) hands off to running back Michael Carter (8) during the first half of an NCAA college football game in Chapel Hill, N.C., Saturday, Oct. 10, 2020. (AP Photo/Gerry Broome)

Gerry Broome/Associated Press

After hanging on to win last week against Boston College, the eighth-ranked North Carolina Tar Heels earned their biggest victory of the season with a 56-45 triumph over No. 19 Virginia Tech. 

The Hokies were without 15 players, including freshman safety Keonta Jenkins. This was their first major test of the season, playing a Top 10 opponent on the road.

The Tar Heels came out of the gate Saturday at Kenan Memorial Stadium looking much more comfortable on both sides of the ball than they did against Boston College. They were up 21-0 after their first three drives, in which the offense racked up 224 total yards. 

By the time the game was over, North Carolina finished with 656 total yards and its highest point total against an FBS opponent since dropping 66 on Duke in November 2015. 

             

Notable Game Stats

  • Sam Howell, QB (UNC): 18-of-23,
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The case against Amazon: Key takeaways from the U.S. House antitrust report on digital markets

Amazon CEO Jeff Bezos, and the report this week from the U.S. House Judiciary Committee’s antitrust subcommittee. (GeekWire Photo Illustration)

Coming in at 451 pages, the U.S. House Judiciary Committee antitrust subcommittee’s report this week on competition in digital markets is a comprehensive summary of the ways in which Apple, Facebook, Google and Amazon capitalize on and allegedly abuse their market power to benefit themselves.

Amazon is mentioned by name 1,866 times in the report, almost twice as many times as Facebook, and second only to Google at 1,964 mentions.

The report dedicates an 83-page section to the Seattle-based e-commerce giant, informed by internal company emails, extensive market research, interviews with third-party retailers, submissions from industry groups, and testimony including the widely followed hearing this summer with Amazon CEO Jeff Bezos and others.

PREVIOUSLY: Antitrust report says Amazon has ‘monopoly power’ over sellers, company slams ‘fringe’ findings

But if you’re

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Newcore Gold Announces Filing of Technical Report for The Enchi Gold Project

VANCOUVER, British Columbia, Oct. 09, 2020 (GLOBE NEWSWIRE) — Newcore Gold Ltd. (“Newcore” or the “Company”) (TSX-V: NCAU) has filed an independent National Instrument 43-101 (“NI 43-101”) technical report for the updated 2020 mineral resource estimate relating to the Company’s 100% owned Enchi Gold Project in southwestern Ghana, the results of which were announced on September 14, 2020. The technical report, titled “Enchi Gold Project, Resource Update, Enchi, Ghana” has an effective date of September 11, 2020 and is available under Newcore’s profile on www.sedar.com.

Qualified Person

Mr. Gregory Smith, P.Geo, Vice President of Exploration of Newcore, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release.

About Newcore Gold Corp.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer 1. The Project currently hosts an Inferred Mineral

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House report is sharply critical of Treasury’s handling of payroll program

Ultimately, the subcommittee concluded that instead of preserving jobs, the Trump administration’s implementation of the Payroll Support Program “significantly weakened the Program’s impact on job preservation.”

The subcommittee’s assessment comes in stark contrast to how the program has played out for passenger airlines, which received the bulk of the more than $25 billion that was allocated to pay front-line workers. Airline and union leaders say the program saved tens of thousands of jobs until it expired Oct. 1 and have been aggressively pushing to extend it through the end of March.

“The Payroll Support Program has supported hundreds of thousands of aviation industry jobs, kept workers employed and connected to their healthcare, and played a critical role in preserving the U.S. airline industry,” the Treasury Department said in a statement. “Implementation focused first on the largest employers to help stabilize an industry in crisis and support as many jobs as

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