Author: Deal Street Asia Online News

Google must sell Chrome, possibly Android to end search monopoly: DOJGoogle called the proposals staggering.

Alphabet’s Google must sell its Chrome browser, share data and search results with rivals and take other measures—including possibly selling Android—to end its monopoly on online search, prosecutors argued to a judge on Wednesday. The measures presented by the Department of Justice are part of a landmark case in Washington, which has the potential to… Continue reading Google must sell Chrome, possibly Android to end search monopoly: DOJGoogle called the proposals staggering.

US indictments wipe $27b off Adani Group market valueGautam Adani’s flagship Adani Enterprises closed down 23% in its worst one-day drop since Februar…

Adani Group companies lost about $27 billion in market value on Thursday after U.S. prosecutors charged the Indian conglomerate’s billionaire chairman in an alleged bribery and fraud scheme. Gautam Adani‘s flagship Adani Enterprises closed down 23% in its worst one-day drop since February last year. Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC, Ambuja Cements – also fell between 7% and 19%. NDTV shares closed up 0.2%. The sharp selloff had… Continue reading US indictments wipe $27b off Adani Group market valueGautam Adani’s flagship Adani Enterprises closed down 23% in its worst one-day drop since Februar…

Trustar raises $1b continuation vehicle to hold McDonald’s China stakeQatar Investment Authority has committed the biggest amount to become the anchor…

Trustar Capital has raised $1 billion for a continuation fund that will hold the Chinese private equity firm’s controlling stake in McDonald Corp’s operations in mainland China and Hong Kong, two sources with knowledge of the matter said. A continuation fund is a new vehicle created by a private equity (PE) firm to transfer holdings of existing investments. The concept has gained traction in Asia in… Continue reading Trustar raises $1b continuation vehicle to hold McDonald’s China stakeQatar Investment Authority has committed the biggest amount to become the anchor…

OneCell Diagnostics raises $16m led by Celesta Capital and other India dealsThe funding also saw participation from Tenacity Ventures, Cedars Sinai, E…

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SaaS startup Podium raises $15.2m in Series A-1 fundingThe round was anchored by design and software solutions firm Autodesk.

Podium, a Singapore-founded cloud-based digital platform for industrialised construction, has announced raising S$20.4 million (about $15.3 million) in its Series A-1 funding round anchored by design and software solutions firm Autodesk. Elevators and escalators provider Schindler and Australian real estate firm Lendlease backed the round. Podium said the fresh funds will help it expand in… Continue reading SaaS startup Podium raises $15.2m in Series A-1 fundingThe round was anchored by design and software solutions firm Autodesk.

US hedge funds pile into China’s JD.com, GDS: GoldmanTheir exposure to US-listed Chinese stocks rose to the highest level since late 2021.

U.S. hedge funds raised their investments in U.S.-listed Chinese firms in the third quarter, with e-commerce retailer JD.com and data centre operator GDS Holdings leading the purchases, a Goldman Sachs note reviewed by Reuters showed. U.S. hedge funds’ exposure to Chinese stocks traded in the world’s largest capital market, rose to the highest level since… Continue reading US hedge funds pile into China’s JD.com, GDS: GoldmanTheir exposure to US-listed Chinese stocks rose to the highest level since late 2021.

Bain-backed Japanese chipmaker Kioxia’s market value set at $5bThe chipmaker is set to receive listing approval from the Tokyo bourse on Friday

Bain-backed Kioxia will have a market value of about 750 billion yen ($4.84 billion) based on the indicative price for its initial public offering, with the chipmaker to receive listing approval from the Tokyo bourse on Friday, two sources said. The market value, which Reuters is reporting for the first time, could change depending on… Continue reading Bain-backed Japanese chipmaker Kioxia’s market value set at $5bThe chipmaker is set to receive listing approval from the Tokyo bourse on Friday