News

September 28, 2021 By Samuel Shen and Alun John SHANGHAI (Reuters) – China’s power supply crunch, that has shut factories across the country, may pose a much bigger threat to the economy than the debt crisis at Evergrande Group, prompting investors to shun industries vulnerable to power shortages such as steelmaking and construction. China is […]

Angle Labs, the company behind the Angle Protocol, has raised a $5 million funding round led by Andreessen Horowitz. The small team has been working on a euro stablecoin on the Ethereum blockchain. Other investors in the round include Fabric VC, Wintermute, Divergence Ventures, Global Founders Capital, Alven, Julien Bouteloup and Frédéric Montagnon. “I was […]

Rize, a fintech-as-a-service company that provides services to other firms, announced an $11.4 million Series A this morning. The funding event was led by Alpha Edison and Morpheus Ventures. A number of the startup’s prior backers also participated in the round. Rize is an interesting company in a competitive space; the market for building financial […]

RunX, an early stage startup that wants to make it easier for developers to deploy cloud infrastructure, announced a $4.1 million seed investment led by Unusual Ventures and a group of individual angel investors. Company co-founder and CEO Ankur Dahiya says that as organizations deploy modern applications built on microservices and Kubernetes, the complexity in […]

While the recent growth of e-commerce has left us browsing online more than ever, it doesn’t mean we’re actually buying as much as you’d expect. In fact, the Baymard Institute, as cited by Shopify, says that about 70% of shopping carts are abandoned on desktop, a number that only goes up on mobile and tablet. […]

September 28, 2021 GENEVA (Reuters) – The World Health Organization’s regional director for Africa said on Tuesday that the health agency was “humbled, horrified and heartbroken” by the findings of an independent commission on sex abuse claims in the Democratic Republic of Congo. “We in the WHO are indeed humbled, horrified and heartbroken by the […]

September 28, 2021 By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve should let its roughly $8 trillion balance sheet shrink next year as soon as it winds down a bond purchase program, St. Louis Federal Reserve president James Bullard said, cautioning high inflation may require more aggressive steps by the central bank including two […]

September 28, 2021 WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen told senators on Tuesday that the United States should return to full employment next year despite headwinds from the coronavirus Delta variant and again urged Congress to quickly lift the federal debt limit. In prepared remarks to a Senate Banking Committee hearing, Yellen said […]

September 28, 2021 WASHINGTON (Reuters) – The U.S. trade deficit in goods increased in August amid a rise in imports as businesses replenished depleted inventories, suggesting trade could again be a drag on economic growth in the third quarter. The goods trade deficit rose 0.9% to $87.6 billion last month, the Commerce Department said on […]

September 28, 2021 By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) – A group of U.S. Democratic lawmakers called on President Joe Biden to halt a plan to slash the amount of biofuels that oil refiners must blend into their fuel, according to a letter dated Monday. The move, which the lawmakers argue threatens […]

September 28, 2021 By Ben Klayman DETROIT (Reuters) – General Motors Co said on Tuesday its BrightDrop electric commercial vehicle business will add a second delivery van to its lineup in 2023 and has agreed to supply that vehicle to Verizon Communications Inc. GM said the medium-sized EV410, aimed at a segment that includes grocery, […]

September 28, 2021 By David Kirton GUANGZHOU, China (Reuters) – Guo Hui, whose cleaning business is owed 20 million yuan ($3.1 million) by embattled real estate giant China Evergrande, is counting on the government to fix a crisis that has left his own company on the brink of bankruptcy. In the meantime, the 50-year-old known […]

September 28, 2021 By Muvija M (Reuters) – Advance ticket sales for the latest James Bond movie at UK-based cinema chains Odeon and Cineworld were at levels last seen in 2019, setting it up to be the biggest opening since the pandemic gripped the industry. Odeon said on Monday it has sold more than 175,000 […]

The RPA market has been red hot over the last year, and today one of the market’s pioneers, Blue Prism was sold to Vista Equity Partners for £1.095 billion ($1.3701 billion USD), according to an official filing in Great Britain this morning. While we have seen a lot of RPA startups being acquired by larger […]

September 28, 2021 (Reuters) – American Airlines announced a code-sharing agreement with India’s largest airline IndiGo on Tuesday, with the U.S. airline gearing up to launch new flights between the two countries. The agreement, which is expected to begin in October, will see American’s “code” on 29 of IndiGo’s domestic routes in India. Code-sharing allows […]

September 28, 2021 (Reuters) – Retailers, restaurants and providers of delivery services are scrambling to hire and retain workers ahead of the all-important holiday season as they wrestle with a tight U.S. labor market. While some are offering more work hours to existing employees to ensure their stores are sufficiently staffed during the festive season, […]

September 28, 2021 ALMATY (Reuters) -A consortium led by Turkey’s TAV Airports has raised $450 million in loans to finance upgrades at the airport of Almaty, Kazakhstan’s biggest city, the European Bank for Reconstruction and Development (EBRD) said. The EBRD and the International Finance Corporation, an arm of the World Bank, have each contributed $150 […]

September 28, 2021 By Yew Lun Tian BEIJING (Reuters) – President Xi Jinping wants to increase the talent pool of scientists and intellectuals in China who have the “correct political inclination” and are imbued with patriotic feelings to serve their nation, state news agency Xinhua said on Tuesday. China, the world’s second biggest economy, aims […]

September 28, 2021 By David Milliken LONDON (Reuters) – More than a million British workers face an uncertain future this week as the UK becomes the world’s first big economy to wind up its COVID-19 jobs support scheme. The programme, which at its peak paid a third of employees to stay at home, cost more […]

September 28, 2021 LONDON (Reuters) -A river that runs through the Glastonbury Festival, the largest greenfield music festival in the world, is contaminated with illicit drugs such as cocaine and ecstasy because stoned revellers often urinate on the ground, scientists said. Researchers from Bangor University found that concentrations of MDMA, known as ecstasy, quadrupled downstream […]