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(Bloomberg) -- Some of the biggest names in finance and business made a fortune on Zoom Video Communications Inc.: Hong Kong’s Li Ka-shing, Tiger Global Management’s Chase Coleman and, of course, founder Eric Yuan, whose net worth has surged to $10.7 billion.And then there’s Samuel Chen, a little-known Taiwanese investor who made his initial wealth through ink trading and started putting money in the video-conferencing juggernaut about a decade ago.His Digital Mobile Venture Ltd., which participated in Zoom’s early funding rounds, controls a $1.6 billion stake, assuming it hasn’t sold stock since the holding was last disclosed at the end of March. Shares of Zoom, which recently reported a 170% increase in first-quarter revenue, have more than quintupled since their initial public offering last year.Chen is also a board member of Taiwan circuit maker Sonix Technology Co., and Digital Mobile is the biggest shareholder of Santa Clara, California-based Telenav Inc., a...
Last week, you might have seen that PharmaCielo Ltd. (CVE:PCLO) released its quarterly result to the market. The early......
Stock futures rose Friday morning as investors awaited the Labor Department’s May jobs report and digested very early signs of recovery in the virus-stricken economy....
(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal.After almost a week of wrangling, the group’s leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Baghdad to stop shirking its share of cuts and to compensate for past failings.The Organization of Petroleum Exporting Countries will meet by video conference on Saturday at 1 p.m. London time, followed by a conference with their OPEC+ allies two hours later, delegates said. The agreement, once ratified, will extend the record OPEC+ production curbs for another month until the end of July, instead of easing them as previously planned.Brent crude advanced as traders anticipated a tighter market in the coming months. The international benchmark was poised for a sixth...
For all but a select few industries, the novel coronavirus represented the blackest of black swan events. This was especially the case for telecommunications equipment providers like Nokia (NYSE:NOK) and regional rival Ericsson (NASDAQ:ERIC). After trudging through some uncertain waters in 2019 due to the U.S.-China trade war, along with concerns about a global recession, 2020 offered hope. For instance, Nokia stock found itself up double-digit percentage points in early February.Source: RistoH / Shutterstock.com However, the Covid-19 pandemic immediately crushed that optimism. Although NOK has been through multiple health-related crises before - most notably SARS and the 2009 H1N1 outbreak - the coronavirus took such calamities to another dimension.To stem the tide against this rapidly proliferating virus, multiple countries, including the U.S., instituted broad lockdowns.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis was particularly harmful for Nokia stock as it meant that the underlying company would see progress in...
