News

Fintech startups are having one hell of a week. On the heels of Boston-based software-and-payments company Toast’s strong IPO pricing, Remitly priced shares in its own debut above its proposed range yesterday evening. The Seattle-based fintech company sold 12,162,777 shares (7,000,000 primary) at $43 apiece. The company had previously targeted a $42 per-share max price […]

California Governor Gavin Newsom this week signed a bill aimed at protecting warehouse workers from unsafe quotas. The bill, which cites issues around bathroom breaks, rest periods and other safety laws, has been seen as a repudiation of longstanding complaints against workplace conditions at Amazon fulfillment centers. Introduced by Assembly Member Lorena Gonzalez in February, […]

A new forecast on the state of the app economy indicates the third quarter will see record-breaking revenues spent on apps and games. According to App Annie, consumers worldwide will spend $34 billion on apps and games in Q3, a 20% year-over-year increase on spending. The increase indicates that the Covid-19 pandemic’s impact on consumer […]

September 23, 2021 (Reuters) – Manchester United forward Cristiano Ronaldo has reclaimed top spot in the list of the world’s highest-paid soccer players from Lionel Messi, according to Forbes https://www.forbes.com/sites/christinasettimi/2021/09/21/the-worlds-highest-paid-soccer-players-2021–uniteds-cristiano-ronaldo-reclaims-top-spot-from-psgs–lionel-messi/?sh=2a9bd7013b7b. Ronaldo, 36, rejoined United from Juventus in August after 12 years away, while Messi has swapped boyhood club Barcelona to join Paris St Germain. Forbes […]

September 23, 2021 By Djaffar Al Katanty GOMA, Democratic Republic of Congo (Reuters) – When the Nyiragongo volcano erupted in May, Serge Makolo only had time to grab his roller skates and a fistful of medals before the magma swallowed his house on the outskirts of Goma in the eastern Democratic Republic of Congo. Everything […]

September 23, 2021 By Huw Jones LONDON (Reuters) – Scrapping a cap on bankers’ bonuses inherited from the European Union is not a top priority and other curbs on remuneration aimed at fostering financial stability should not be weakened, Bank of England Deputy Governor Sam Woods said on Thursday. Britain’s departure from the EU has […]

September 23, 2021 TURIN (Reuters) – Vietnamese carmaker VinFast could add other markets in 2023 to expand its European strategy beyond a planned debut in Germany, France and the Netherlands next year. The company, a unit of Vingroup JSC Vietnam’s largest conglomerate which some have called “Vietnam’s answer to Tesla”, will debut in Europe next […]

September 23, 2021 By Foo Yun Chee BRUSSELS (Reuters) -Alphabet unit Google is seeking to settle an EU antitrust investigation into its digital advertising business, a person familiar with the matter said, a move that could help it stave off a disruptive, lengthy probe and a possible hefty fine. EU antitrust cases have cost Google […]

September 23, 2021 By Aditi Shah NEW DELHI (Reuters) – India’s Ola Electric plans to produce kick scooters, e-bikes, drones and even flying cars under its future mobility scheme to help meet the country’s transport needs, the company’s founder Bhavish Agarwal said in a blogpost on Thursday. Ola Electric, backed by Japan’s Softbank Group, is […]

September 23, 2021 By Marc Jones LONDON (Reuters) – World markets rallied on Thursday after the U.S. Federal Reserve flagged plans to reel in stimulus this year, Norway became the first rich economy to raise interest rates since COVID-19 struck and China Evergrande leapt ahead of a crucial debt payment. Trading was lively to say […]

Autonomous vehicle company Motional is expanding its operations and employee headcount in Las Vegas, including tripling the size of its testing facility, in the run up to its planned 2023 commercial deployment of robotaxis. The company, the product of a $4 billion joint venture between Aptiv and Hyundai, has been in Las Vegas for nearly […]

General Motors has now joined a slew of other major automakers, including Toyota, Chinese state-backed SAIC Motor, and Mercedes-Benz AG in putting its chips behind Chinese autonomous driving startup Momenta. GM, the largest automaker in the U.S. in terms of vehicle sales, said Tuesday it will invest $300 million in Momenta to accelerate the development […]

September 23, 2021 BRUSSELS (Reuters) -Software Volkswagen AG used to alter pollutant emissions based on the temperature and altitude is illegal unless it prevents potentially dangerous sudden damage to the engine, an adviser to the EU’s top court said on Thursday. The finding, if confirmed by the Court of Justice of the European Union (CJEU), […]

September 23, 2021 BUDAPEST (Reuters) -Central European leaders signed a joint declaration on Thursday saying immigration should not be the answer to the European Union’s declining birth rate, while calling on the bloc to keep family policy under national jurisdiction. The strong anti-immigrant stances taken by governments in central European countries such as Hungary – […]

September 23, 2021 MEXICO CITY (Reuters) – The possible inclusion of the United Kingdom in the USMCA trade pact, also known as TMEC in Spanish, needs consultation with all countries, Mexican President Andres Manuel Lopez Obrador said on Thursday. There was information that the United Kingdom was seeking to join the treaty, which also includes […]

September 23, 2021 WASHINGTON (Reuters) – The head of the World Trade Organization on Thursday said she sees “some potential” to reach an agreement on fisheries at a ministerial meeting in late November, but said there were still significant differences to overcome among members. Okonjo-Iweala told reporters in Washington she saw more momentum on the […]

September 23, 2021 (Reuters) -IT consulting firm Accenture on Thursday forecast first-quarter revenue above analysts’ estimates, expecting strong demand for its cloud and security services as companies delay return to offices due to the Delta variant. Shares of the Dublin, Ireland-based company, which has benefited from pandemic-related restrictions as more enterprises took their businesses online, […]

September 23, 2021 (Reuters) – Target Corp said on Thursday it plans to hire 100,000 seasonal workers this year, fewer than last year, to prepare for the holiday season at a time when the industry grapples with tight labor supply. The company said it will offer more work hours for its existing employees during the […]

September 23, 2021 By Sophie Yu and Brenda Goh SHANGHAI (Reuters) – KFC operator Yum China Holdings is focusing its store expansion efforts in China on smaller cities, as demand there has recovered from the pandemic much quicker than that in the country’s major centres, its chief executive said on Thursday. The owner of the […]

September 23, 2021 (Reuters) – The United States Olympic & Paralympic Committee on Wednesday said all U.S. athletes hoping to compete at the 2022 Beijing Winter Olympics will need to be vaccinated against COVID-19. “Effective Nov. 1, 2021, the U.S. Olympic & Paralympic Committee will require all USOPC staff, athletes and those utilizing USOPC facilities – […]