Cao Cao Mobility, the ride-hailing unit of Chinese automaker Geely Automobile Holdings, has announced a $589 million (RMB 3.8 billion) Series B raise that the company says will help it upgrade its technology and expand its fleet, according to a statement released by the company (in Chinese). The raise, which Cao Cao announced on Monday, […]
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Indonesia-focused Intudo Ventures closes $115M third fund
Intudo Ventures, the “Indonesia-only” investment firm, announced today it has closed its third fund, totaling $115 million. Called Intudo Ventures Fund III, it was raised in less than three months and oversubscribed. Fund III’s limited partners include Black Kite Investments, the family office of Singaporean businessman Koh Bon Hwee; Wasson Enterprises, the family office of […]
E-commerce aggregator Rainforest raises $20M just months after its last funding
Four months after its last funding announcement, Singapore-based e-commerce aggregator Rainforest has closed a $20 million pre-Series A round led by Monk’s Hill Ventures. Other participants included January Capital, Crossbeam Venture Partners, Amasia and Lo & Behold Group, along with returning investors Nordstar and Insignia Venture Partners. Rainforest announced in May that it had raised […]
As its rivers shrink, Iraq thirsts for regional cooperation
September 8, 2021 By Charlotte Bruneau and Ahmed Rasheed HALABJA, Iraq (Reuters) – “Where we are standing right now, there should be a river,” says Nabil Musa, gesturing at a dried-up riverbed in northern Iraq. For the environmental activist, the reason the once swirling Sirwan river has dwindled to a trickle lies across the border […]
Japan upgrades Q2 GDP on stronger business spending
September 8, 2021 By Tetsushi Kajimoto and Kantaro Komiya TOKYO (Reuters) – Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in COVID-19 is undermining service-sector consumption and clouding the economy’s outlook. Revised gross domestic product (GDP) data by the Cabinet Office released on […]
Australia’s Victoria reports easing in COVID-19 cases
September 8, 2021 SYDNEY (Reuters) – Australia’s Victoria state reported on Wednesday 221 new locally acquired cases, down from the year’s record high of 246 a day earlier, as authorities try to ramp up vaccinations to begin easing some tough restrictions. About 62% of people above 16 in the state have had at least one […]
COVID-19 disruption causing many deaths from TB, AIDS in poorest countries, fund says
September 8, 2021 By Emma Farge GENEVA (Reuters) – Hundreds of thousands of people will die of tuberculosis left untreated because of disruption to healthcare systems in poor countries caused by the COVID-19 pandemic, a global aid fund said. In a few of the world’s poorest countries, excess deaths from AIDS and tuberculosis (TB) could […]
Britney Spears’ father asks court to end singer’s conservatorship – media reports
September 7, 2021 LOS ANGELES (Reuters) – Jamie Spears, the father of Britney Spears, has petitioned a Los Angeles court to end the pop singer’s 13-year conservatorship, NBCNews and CNN reported on Tuesday. (Reporting by Lisa Richwine; Editing by Sandra Maler) Source Link Britney Spears’ father asks court to end singer’s conservatorship – media reports […]
Biden says he is sure China will try to work out arrangement with Taliban
September 7, 2021 By Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden said on Tuesday he was certain China would try to work out an arrangement with the Taliban after the Islamic insurgents seized power in Afghanistan on Aug. 15. Asked if he was worried that China would fund the group, which is sanctioned under […]
Oxbotica to develop multi-purpose self-driving vehicle with AppliedEV
September 7, 2021 By Nick Carey LONDON (Reuters) – Self-driving software startup Oxbotica said on Wednesday it has teamed up AppliedEV to develop a fully autonomous multi-purpose vehicle that could be suitable for a variety of commercial uses. The first deployments of the self-driving electric vehicles (EVs) will be in industrial logistics and automated goods […]
Factbox-A glimpse under the hood of El Salvador’s bitcoin experiment
September 7, 2021 By Anthony Esposito and Nelson Renteria SAN SALVADOR (Reuters) – El Salvador on Tuesday rolled out cryptocurrency bitcoin as legal tender, an unprecedented move that faced some technical hiccups on its first day and left many wondering how it will work. President Nayib Bukele, who has championed the initiative, said the digital […]
Volkswagen to set up venture capital fund in decarbonization push
September 7, 2021 (Reuters) – Volkswagen AG said on Tuesday it planned to set up a venture capital fund, which would initially invest 300 million euros ($355.14 million) in decarbonization projects and start-ups. “Decarbonization will make many things more affordable, not more expensive,” Herbert Diess, chief executive officer of Volkswagen, said in a LinkedIn https://bit.ly/38NnhyZ […]
Motor insurer Marshmallow becomes first Black-founded UK unicorn
September 7, 2021 LONDON (Reuters) – Digital motor insurer Marshmallow has raised $85 million from investors, valuing it at more than $1.25 billion and making it the first British Black-founded unicorn, the company said on Wednesday. The early-stage funding round was backed by venture capital firm Passion Capital, Investec Bank and reinsurer SCOR, Marshmallow said […]
Investors call for private firms to disclose more environmental data
September 7, 2021 By Simon Jessop LONDON (Reuters) – Investors managing $2.3 trillion in assets on Wednesday called for more than 1,000 private companies to provide environmental data through non-profit disclosure platform CDP to address a gap in transparency with their listed peers. CDP said the group, including Neuberger Berman and Nuveen, had helped create […]
Biden tours flood-hit areas; calls climate change ‘existential threat’
September 7, 2021 By Nandita Bose NEW YORK (Reuters) -President Joe Biden on Tuesday toured sites of deadly floods in the Northeast and said Hurricane Ida demonstrated the ravages of climate change as he pressed for investments to boost infrastructure and fight global warming. “Climate change poses an existential threat to our lives, to our […]
U.S. House panel sets debate this week on its portion of $3.5 trillion bill
September 7, 2021 By Richard Cowan WASHINGTON (Reuters) -A U.S. House of Representatives committee this week will attempt to advance sweeping legislation to expand healthcare benefits for the elderly and other social services as part of Democrats’ $3.5 trillion domestic investment plan. The House Ways and Means Committee plans to debate its wide-ranging measure that […]
Security high in Paris as 2015 jihadist attacks trial begins
September 7, 2021 By Ingrid Melander PARIS (Reuters) – A trial of unprecedented scale starts under high security on Wednesday to judge 20 men suspected of involvement in a jihadist rampage across Paris on Nov. 13, 2015, the deadliest attack in peacetime France. Some 130 people were killed and hundreds wounded when gunmen with suicide […]
Factbox-Paris Nov. 2015 attacks: key facts about the trial
September 7, 2021 PARIS (Reuters) – Twenty people go on trial in Paris on Wednesday suspected of involvement in a jihadist assault on Nov. 13, 2015, the most deadly attack ever seen in peacetime France, in which 130 were killed and hundreds injured. A specially-built courtroom and additional rooms where the hearings will be broadcast […]
Schumer Falsely Claims ‘All’ Americans Got Out of Afghanistan
A spokesperson for Senate Majority Leader Chuck Schumer has conceded that the New York Democrat falsely claimed that “all” Americans who wanted to leave Afghanistan “have come out.” Government officials say that fewer than 100 U.S. citizens, and an unknown number of U.S. legal permanent residents, who want to leave Afghanistan are still in the […]
UK’s Marshmallow raises $85M on a $1.25B valuation for its more inclusive, big-data take on car insurance
Marshmallow — a U.K.-based car insurance provider that has made a name for itself in the market by providing a new approach to car insurance aimed at using a wider set of data points and clever algorithms to net a more diverse set of customers and provide more competitive rates — is announcing a milestone […]
