The company of the former President of the United States of America, Donald Trump, in a very uncomfortable situation with the law.

Chief Financial Officer of Trump Organization, Allen Weisselberg

Trump Organization, the namesake company belonging to Donald Trump, is being probed and charged to court alongside it’s Chief Financial Officer, Allen Weisselberg.

Trump Organization has been accused of tax evasion and fraud. This makes Allen Weisselberg an accomplice because of his role as the company’s CFO. Weisselberg surrendered to detainment by the Manhattan district attorney’s office in New York, USA.

Despite this, Allen Weisselberg claims to not be guilty and will be combating against the charges in the court of law. However, Donald Trump hasn’t been charged for any crime.

The Trump Organization addressed the situation through an official…

Drone delivery is about to be a thing in more parts of the world, thanks to Zipline’s funding round.

A photo of Zipline’s warehouse
A photo of Zipline’s warehouse
Zipline warehouse

American drone delivery startup company, Zipline Inc, made $250 million from its funding round that involved Fidelity investments, Temasek, and Baillie Gifford.

Zipline stated the demand for its services had surged in countries within Africa and states within the U.S because of its medical supplies delivery to local hospitals.

The COVID-19 pandemic and lockdown prevented the operation of regular delivery, forcing healthcare providers to tilt towards Zipline’s services.

Zipline is currently based in San Francisco, US, but is working towards building warehouses in Nigeria, Africa, and inroads within other states in the U.S.

Zipline currently has a fleet of drones that make deliveries to over 2,500 locations. The company’s goal is to make deliveries to 6,000 locations by the end of 2021.

Twitter is going to be experiencing some leadership changes after nine years.

Twitter announced that its Customers Lead executive, Matthew Derella, is resigning from his role after serving for nearly a decade. He is going to be replaced by Sarah Personette who serves as Twitter’s VP of Global Client Solutions currently. The reason for Matthew Derella’s exit from Twitter is said to personal and family-related.

Matt Derella is credited for leading the blue-chip social media company into sealing multiple deals and partnerships with different media companies globally.

Matthew Derella stated that he is confident in Sarah Personette’s ability to excel in her new role and move Twitter up the ladder.

Derella’s resignation…

Turntide is making big purchases from the proceeds of its recent funding round.

A photo of Turntide’s logo
A photo of Turntide’s logo
Turntide’s logo

American electric vehicle company, Turntide Technologies, garnered $225 million from its funding round. Some of the investors who were a part of the funding round include Breakthrough Energy Ventures, Jones Lang LaSalle Inc, and others.

Turntide Technologies channeled the funds that were derived from the funding round into the purchase of three companies: AVID Technology, BorgWarner Gateshead Ltf, and Hyperdrive Innovation’s transport arm.

The CEO of Turntide Technologies, Ryan Morris, explained that the decision to purchase all three companies is aimed towards enhancing the company’s position in the new electric vehicle markets.

Turntide’s technology is to be used in electric cars starting from 2024.

A new cryptocurrency company wants to give every person on earth a piece of its special cryptocurrency but there is a condition.

A photo of Sam Altman, CEO of Worldcoin
A photo of Sam Altman, CEO of Worldcoin
Sam Altman, CEO of Worldcoin

Worldcoin is a cryptocurrency startup company under the leadership of the former CEO of Y Combinator, Sam Altman, Alexander Blania and Max Novendstern. Worldcoin announced its intention to give every person in the world its cryptocurrency on the condition that they get their eyes examined.

Worldcoin is said to have created an orb-shaped device that is capable of scanning an individual’s iris to create a person identifier that is peculiar to that person alone. The aim of this is to prevent fraudulent activities.

The company has began testing this device in different cities around the world. …

Two of Nigeria’s most popular digital market spaces are coming together as one.

The Co-Founder of, Vladimir Mnogoletniy, announced that the company has acquired well known Nigerian automobile trading platform, Cars45.

He revealed that the reason behind Jiji’s purchase of Cars45 is to expand further into the automobile trading industry.

Jiji is also said to be leveraging on Car45’s goodwill to gain the confidence of users in its automobile category as well as its inspection centers to aid the thorough inspection of vehicles.

The two most popular shopping categories on Jiji are real estate and vehicles. A combination of all of Jiji’s entire listing is worth $10 billion.

Cars45 and Jiji are going to be combining their operations in Nigeria, Ghana, and Kenya to foster the smooth transition of the acquisition.

Uganda is receiving a helping hand towards the recuperation of its economy.

A photo of the International Monetary Fund Office, Washington D.C, USA
A photo of the International Monetary Fund Office, Washington D.C, USA
International Monetary Fund Office, Washington D.C, USA

The International Monetary Fund announced via an official statement that the organization giving $1 billion to Uganda. The aim of this fund is to help the country’s economy recuperate from the effect of the COVID-19 pandemic.

The loan was disbursed under the IMF’s Extended Credit Facility and will span over the course of three years. The sum of $258 million will be made available to the Ugandan government immediately to augment the country’s budget.

The International Monetary Fund is predicting that a 4.3% growth in Uganda’s economy will occur towards the end of 2021 and throughout 2022. …

The world’s largest social media company is now worth $1 trillion.

A photo of the CEO of Facebook, Mark Zuckerberg
A photo of the CEO of Facebook, Mark Zuckerberg
CEO of Facebook, Mark Zuckerberg

American social media company, Facebook, hit the $1 trillion market capitalization. This makes Facebook the fifth American company to do this. This was due to the company’s shares trading at $355.64 and recording a 61.2% in profit increment.

Mark Zuckerberg’s net worth has increased to $132 billion following this new development. The founder of Facebook is currently the fifth richest person in the world. He is also the youngest person to be worth over $100 billion.

Facebook was probed by the Federal Trade Commission on the ground of antitrust. Yet, the final verdict was in the company’s favour.

Financial analysts have predicted that Facebook’s shares will surge by more than 20%. This is due to an increase in the number of investors who will be buying its shares.

South Korea’s Kakao is aiming for something huge with its IPO.

A photo of Kakao’s app on a mobile phone
A photo of Kakao’s app on a mobile phone
Kakao’s app on a mobile phone

Kakao Bank is a South Korean money lending company that was founded in 2016 as a subsidiary of Kakao Talk, South Korea’s largest mobile messenger service which had over 46 million users at the time.

Kakao Bank has decided to sell 65.45 million shares at 33,000 to 39,000 won per unit with the sole aim of generating $2.3 billion from its initial public offering (IPO).

This could result in the company’s market capitalization surging by over $16 billion as well as the third most valuable money lending company in Korea.

Financial analysts have predicted that if Kakao is able to hit its IPO goal, its shares will surge by more than 20% due to foreign investments.

Cryptocurrency traders in the United Kingdom have to bid one of their favorite crypto trading platforms goodbye.

A photo of the CEO of Binance, Changpeng Zhao
A photo of the CEO of Binance, Changpeng Zhao
CEO of Binance, Changpeng Zhao

Britain’s Financial Conduct Authority, the United Kingdom’s markets regulator, put out a statement that announced that Binance had been banned from operating in the United Kingdom.

Binance is mandated to add a disclaimer to this effect on its website for its users who are residents of the United Kingdom stating that:

BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE U.K. Due to the imposition of requirements by Binancion of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA. (No other…

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Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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