Favo, a Brazilian social commerce platform, closed on $26.5 million in Series A funding to continue developing its app that takes grocery orders through local social networks. Tiger Global Management led the round, with existing investors GFC, Elevar Equity, Kevin Efrusy, David Velez, FJ Labs and H2O participating. The latest round gives the company about […]
Google sets up $50M fund to invest in African startups
Google plans to invest up to $50 million in African early and growth-stage startups, ramping up efforts to support more businesses on the continent. Google made known its plans today in a virtual event where CEO Sundar Pichai announced the tech giant’s intention to commit $1 billion over the next five years in tech-led initiatives […]
Amazon opens its first 4-star store outside the US
Mariella Moon Contributor Mariella Moon is an associate editor at Engadget. More posts by this contributor FCC proposes new rules to combat SIM swapping scams ‘Pokémon Unite’ has arrived on Android and iOS Amazon has opened a 4-star store in Bluewater, a mall located just southeast of central London. And it’s not just the first […]
Futures slide 1% over inflation concerns
October 6, 2021 (Reuters) – U.S. stock index futures fell about 1% in early New York hours on Wednesday as soaring oil prices fed into fears of higher inflation, while a stalemate continued in the U.S. Congress over the government debt ceiling. Asian and European stocks fell earlier in the day as oil hit a […]
Samsung Electronics likely to report best quarterly profit in 3 years
October 6, 2021 By Joyce Lee SEOUL (Reuters) – Samsung Electronics Co Ltd is likely to turn in its best quarterly profit in three years and a record revenue, on rising memory chip prices and brisk sales of its new foldable smartphones, analysts’ estimates show. Operating profit for the world’s biggest memory chip and smartphone […]
Euro zone retail trade weaker than expected in Aug as food sales fall
October 6, 2021 BRUSSELS (Reuters) – Euro zone retail sales were weaker than expected in August, data showed on Wednesday, as consumers reined in spending on food, drinks and tobacco. Retail sales, a proxy for consumer demand, in the 19 countries sharing the euro rose 0.3% month-on-month in August and were unchanged from a year […]
Tesla faces investor test after big jury award over racism
October 6, 2021 By Hyunjoo Jin, Ross Kerber and Rick Linsk SAN FRANCISCO/BOSTON (Reuters) – A contract worker has won a $137 million jury award over workplace racism against Tesla Inc, raising pressure on the electric vehicle maker whose shareholders will vote on Thursday on a proposal to review how it addresses similar complaints for […]
Asian equities see massive outflows on inflation worries
October 6, 2021 By Gaurav Dogra (Reuters) – Asian equities have seen heavy foreign outflows since the start of this month on concerns about China’s property sector and on expectations that major central banks would raise interest rates soon amid concerns about rising inflationary pressures. Foreigners have sold a combined net total of $3.35 billion […]
Vatican trial prosecutors concede case gaps, willing to investigate more
October 6, 2021 By Philip Pullella VATICAN CITY (Reuters) -The prosecution at a Vatican trial of 10 people accused of financial crimes, including a cardinal, acknowledged on Tuesday weaknesses in its case and said it was willing to return to the investigative phase to fill in gaps contested by the defence. Deputy prosecutor Alessandro Diddi […]
Euro zone banks continue to reduce soured credit
October 6, 2021 FRANKFURT (Reuters) – Euro zone banks continued to record a decline in soured loans in the second quarter, data showed on Wednesday, even as the European Central Bank warned that lenders are being complacent in recognising bad debt. Non-performing loans (NPL) at the bloc’s 114 biggest banks dropped to 422 billion euros […]
Exclusive-Stranded at Tajik sanatorium, pregnant Afghan pilot fears for unborn baby
October 6, 2021 By Phil Stewart WASHINGTON (Reuters) – She didn’t forget the prenatal vitamins – that was one of the few things this U.S.-trained Afghan pilot could grab from her Kabul airport office before she left the country aboard an Air Force plane during the Taliban takeover. But after fleeing for her life and […]
We’re one millimetre from a corporate tax deal, France’s Le Maire says
October 6, 2021 LONDON (Reuters) – The world is one millimetre away from a deal on global corporate taxes and an agreement could be signed in Washington next week or at the G20, French Finance Minister Bruno Le Maire said on Wednesday. An updated draft of a global corporate tax overhaul has dropped “at least” […]
Scientists list and MacMillan win Nobel Chemistry Prize
October 6, 2021 STOCKHOLM (Reuters) -German Benjamin List and Scottish-born David MacMillan won the 2021 Nobel Prize in Chemistry for their development of asymmetric organocatalysis, a “new and ingenious tool for molecule building”. “Organic catalysts can be used to drive multitudes of chemical reactions,” the Royal Swedish Academy of Sciences said in a statement. “Using […]
Greece’s fire-ravaged island now racing to build flood defences
October 6, 2021 By Vassilis Triandafyllou and Angeliki Koutantou LIMNI, Greece (Reuters) – In a scorched landscape on the Greek island of Evia, crews of workers chop burnt pine trees, all that’s left from devastating summer wildfires, to set up wooden flood barriers. Walking on a thick carpet of ash and with the smell of […]
Factbox-Five facts about Philippines’ Ferdinand Marcos Jr
October 6, 2021 By Neil Jerome Morales MANILA (Reuters) – The only son and namesake of late Philippine dictator Ferdinand Marcos filed candidacy papers https://ift.tt/3a9fgVO for next year’s presidential election on Wednesday, offering to be a “unifying” leader to help tackle the pandemic and economic crises. Below are five things to know about Ferdinand Marcos […]
Ethiopian PM nominates incumbent finance minister for new cabinet
October 6, 2021 By Dawit Endeshaw ADDIS ABABA (Reuters) -Ethiopian Prime Minister Abiy Ahmed on Wednesday nominated incumbent Ahmed Shide to return as finance minister in his new cabinet, signalling a determination to stay with a course of reforms that includes privatising creaking state enterprises. He nominated Abraham Belay as minister of defence. Belay previously […]
Uber pilots new features to reserve rides at airports
Uber is piloting new app features aimed at making air travel more hassle-free, including the ability to reserve rides from airports, gain access to enhanced curbside pickup, request a ride once you land and order food in advance from airport restaurants for pickup. Uber Reserve at Airports will allow users at 20 major airports across […]
Databricks acquires 8080 Labs to extend its low-code/no-code capabilities
Databricks today announced that it has acquired German startup 8080 Labs, the company behind bamboolib, a popular GUI for the Python-based Pandas data analysis and manipulation tool. Bamboolib allows data scientists to quickly and easily explore their data and transform it without having to write any code. 8080 Labs offered both a free community edition […]
California lawmakers aim to ban offshore drilling after spill
October 6, 2021 By Jessica Resnick-Ault and Daniel Trotta (Reuters) – Democratic members of Congress from California seized on the oil spill off the state’s coast to promote federal legislation to ban all offshore oil drilling, as investigators searched for what caused the pipeline to burst. About 3,000 barrels (126,000 gallons) of crude oil spilled […]
Spanish ride-hailing app Cabify bets on grocery delivery amid e-commerce boom
October 6, 2021 By Clara-Laeila Laudette MADRID (Reuters) – Spanish ride-hailing app Cabify will allow users to order groceries direct to their homes in nine cities including Barcelona and Madrid via a partnership with online supermarket delivery firm Lola Market, the companies said on Wednesday. A new crop of startups across Europe seeks to consolidate […]
