News

September 30, 2021 By Ayenat Mersie NAIROBI (Reuters) – Ethiopians in three regions where elections had been delayed head to the polls on Thursday to vote for their representatives and one area will also vote on whether to form its own regional state. Prime Minister Abiy Ahmed will form the next government regardless of the […]

September 30, 2021 By Shivani Singh and Gabriel Crossley SHENYANG, China (Reuters) – Small firms caught in China’s prolonged power and coal crunch are turning to diesel generators, or simply shutting shop, as coal officials voiced fears for stocks ahead of winter and manufacturing shrinks in the world’s no. 2 economy. Beijing is scrambling to […]

September 30, 2021 HONG KONG (Reuters) – Some of China Evergrande Group’s offshore bondholders have not received interest payment due by the end of Wednesday New York time, two people familiar with the matter told Reuters, with the company missing its second debt obligation this month. The cash-strapped company was due on Wednesday to make […]

September 30, 2021 By Simon Jessop LONDON (Reuters) – HSBC, BlackRock and Swiss Re are among the companies seeking to create a risk management and disclosure framework aimed at moving capital away from activities that damage nature. The Taskforce on Nature-related Financial Disclosures (TNFD) was launched in June to tackle nature loss, which it says […]

September 30, 2021 By Nick Carey and Yilei Sun MUNICH/BEIJING (Reuters) – China’s electric carmakers are darting into Europe, hoping to catch traditional auto giants cold and seize a slice of a market supercharged by the continent’s drive towards zero emissions. Nio Inc, among a small group of challengers, launches its ES8 electric SUV in […]

September 30, 2021 (Reuters) – U.S. private equity firm Apollo Global Management said funds managed by its affiliates entered a deal to buy the Thermal and Emission Control Materials business of Japan’s advanced materials producer Mitsubishi Chemical Corporation. The deal, which is expected to close by March 20222, marks Apollo’s second private equity fund investment […]

September 30, 2021 By Kane Wu and Scott Murdoch HONG KONG (Reuters) – Australia is set for its best year ever in M&A activity despite extended pandemic-induced lockdowns in its most populous states as cash-rich corporates and funds scoop up assets, with bankers seeing no sign of the momentum slowing. Deals involving Australian companies totalled […]

Incident.io has raised a $4.7 million funding round led by Index Ventures and Point Nine. When your company is facing an outage or a data breach, Incident.io provides the right framework to communicate about the issue — both internally and externally — and make sure it is resolved as quickly as possible. In addition to […]

September 30, 2021 By David Kirton ZHUHAI, China (Reuters) – China put on an extravagant display of once-secret high-end military technology at its largest air show this week, while broadcasting its growing ambitions in space exploration and for self-sufficiency in commercial aircraft. Pandemic-related travel restrictions meant Airshow China in the southern city of Zhuhai was […]

September 30, 2021 By Erwin Seba HOUSTON (Reuters) -Exxon Mobil Corp on Wednesday offered its first concession in a new contract proposal to locked-out workers at its Beaumont, Texas, refinery and lube oil plant to include some seniority protection. Exxon on May 1 locked some 650 workers out at the 369,000-barrel-per-day refinery, replacing them with […]

September 30, 2021 By Pamela Barbaglia and Anirban Sen LONDON (Reuters) – Global mergers and acquisitions hit new record highs in the third quarter as companies and investors shaped their post-COVID future through transformative deals while their advisers struggled to cope with transaction volumes never seen before. A frantic summer of merger activity produced deals […]

September 30, 2021 By Echo Wang and Abhinav Ramnarayan (Reuters) – Initial public offerings (IPO) globally slowed in the third quarter of 2021 from their previous frenetic pace, but the number of listings in the first nine months of the year still was the highest since the dotcom bubble of 2000, according to Refinitiv data. […]

September 30, 2021 By Chen Lin SINGAPORE (Reuters) – Singapore’s central bank is expected to leave monetary policy on hold at its October review, analysts say, as highly transmissible coronavirus variants spread locally and across the world, threatening the pace of economic recovery. All 11 economists in a Reuters poll this week expect the Monetary […]

September 30, 2021 (Reuters) – Fortescue Metals Group Ltd said on Thursday an employee had died after a ground collapse at its Solomon Hub site in the Pilbara region of Western Australia, forcing it to temporarily suspend mining operations at the project. The world’s no.4 iron ore miner announced the suspension earlier in the day, […]

September 30, 2021 By Sophie Yu and Brenda Goh BEIJING (Reuters) – China’s Golden Week holiday this year is unlikely to see domestic travel rebound to pre-COVID levels, industry estimates show, hurt by uncertainty over pandemic curbs and consumer fears about the health of the economy. The seven-day holiday from Oct. 1 to mark the […]

Heyflow, a Hamburg, Germany-based startup touting ‘no code’ tools for easily building interactive “clickflows” to boost customer conversions, has bagged a $6 million seed. The round was led by Project A Ventures, with participation from Atlantic Labs and several unnamed angel investors. Heyflow competes with a growing number of no code/low code tools which aim […]

A coalition of app-based delivery and ride-hail companies like Uber, Lyft and DoorDash recently filed a ballot proposition in Massachusetts to continue classifying gig economy workers as independent contractors, rather than employees. If the measure makes it to the November 2022 ballot and passes, drivers could end up earning as little as a quarter of […]

Meesho has more than doubled its valuation in less than six months, to $4.9 billion, as a growing number of high-profile investors back the Indian social commerce startup that is reporting strong growth despite the pandemic. The Bangalore-headquartered firm said on Thursday it has raised $570 million in its Series F financing round, following a […]

September 30, 2021 By Alun John HONG KONG (Reuters) – Asian shares found some calm on Thursday following this week’s heavy China-driven losses although the dollar sat at a more than one-year high against major peers, upheld by lingering safe-haven demand and expectations for tighter U.S. monetary policy. MSCI’s broadest index of Asia-Pacific shares outside […]

September 30, 2021 By Anne Marie Roantree and Andrew Galbraith HONG KONG/SHANGHAI (Reuters) – Shares of debt-laden China Evergrande Group swung wildly on Thursday as the company looked set to miss its second bond interest payment in a week, as an additional $180 million in coupon deadlines loom in the next month. The company’s shares […]