LATEST ARTICLES

E-commerce pioneer Wenzel launches ‘Amazon on steroids’

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April 15, 2021 By Douglas Busvine BERLIN (Reuters) -German entrepreneur Ralf Wenzel, formerly of Delivery Hero and Softbank, is launching a global rapid delivery retail platform, entering a field that is attracting huge investment and experiencing explosive growth. The startup, called Jokr, is backed by venture capitalists HV Capital, Tiger Global and Softbank, and will aim to deliver a wide range of...

EU antitrust regulators to decide on $9 billion SK Hynix, Intel deal by May 20

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April 15, 2021 BRUSSELS (Reuters) – EU antitrust enforcers will decide by May 20 whether to clear South Korean chipmaker SK Hynix Inc’s $9 billion buy of Intel Corp’s NAND memory chip business, according to a European Commission filing. The U.S. chip giant announced the sale last October, part of a move to divest non-core businesses to...

Tencent Music appoints new CEO, chairman

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April 15, 2021 (Reuters) -Tencent Music Entertainment Group said on Thursday it appointed Zhu Liang as the new chief executive officer and Cussion Kar Shun Pang as the new executive chairman of the board, with immediate effect. Cussion had held the CEO’s position from July 2016. Zhu has previously served as the vice president of Chinese technology giant Tencent Holdings Ltd, which...

As U.S. watchdog steps up scrutiny, Grab deal signals blank-check party peak

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April 15, 2021 (Corrects title of SEC official in paragraph 12) By Katanga Johnson and Joshua Franklin WASHINGTON/NEW YORK (Reuters) -While the blank-check deals market reached new heights this week with Grab Holdings’ record $40 billion merger, some lawyers and regulatory experts said the exuberance was unlikely to last as the U.S. securities watchdog steps up scrutiny of such deals. Southeast...

Japan state-backed funds consider offer for Toshiba: report

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April 15, 2021 TOKYO (Reuters) – Japan Investment Corp (JIC) and Norinchukin Bank are considering buying Toshiba Corp, the Nikkan Kogyo Shimbun reported on Thursday, a Japan-led bid which may be more palatable to regulators and management than rival offers by foreign funds. Private equity fund CVC Capital Partners, which has already made a preliminary offer for...

Dell spins off VMware stake, generating up to $9.7 billion to pay down debt

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April 15, 2021 (Reuters) -Dell Technologies Inc said on Wednesday it would spin off its 81% stake in cloud computing software maker VMware, in a move that will help the PC maker reduce its debt. VMware will distribute a special cash dividend of between $11.5 billion and $12 billion to all its shareholders, including Dell, which will receive between $9.3 billion...

U.S. hearing on China competition told research funding falling behind

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April 15, 2021 (Corrects lead paragraph to add missing word, fix language) By David Brunnstrom and Michael Martina WASHINGTON (Reuters) -U.S. investment in research and development has reached its lowest level in decades while soaring in the rest of the world, the head of a U.S. Senate committee warned at a hearing on proposed subsidies to the tech industry to help...

Coinbase valued at $86 billion in choppy Nasdaq debut

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April 15, 2021 By Echo Wang (Reuters) -Coinbase Global Inc was valued at $86 billion at the end of its Nasdaq debut on Wednesday, in a choppy day of trading when its valuation went as high as $112 billion. Coinbase’s stock market debut, done through a direct listing where no shares are sold ahead of the opening, marks another milestone in the...

Instagram launches test where users can choose to see likes

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April 15, 2021 By Elizabeth Culliford (Reuters) – Instagram is launching a small global test on Wednesday where users can choose whether to hide like counts on their own posts or other people’s posts, a Facebook spokeswoman said. The photo-sharing site, which is owned by Facebook Inc, said this latest test came after seeing mixed responses to its...

Apple backs far-reaching emissions disclosure rules

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April 15, 2021 (Corrects to “far-reaching” from “far-reading” in first paragraph) By Ross Kerber and Stephen Nellis (Reuters) – Apple Inc on Tuesday called for the U.S. Securities and Exchange Commission (SEC) to require companies to disclose far-reaching emissions information such as how customers use their products, according to a tweet from Apple Vice President Lisa Jackson. The...