Nasdaq-listed Grab Holdings Ltd on Thursday reported that its losses narrowed to $250 million for the first quarter of 2023, a 43% improvement year-on-year [YoY] from $435 million in the same period of 2022. The company attributed the performance to an improvement in group-adjusted EBITDA and a reduction in net interest expenses, it said in… Continue reading Grab losses shrink 43% in Q1, revenue surges 130%
Category: Tech News
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Abu Dhabi’s ADQ hires KPMG partner as portfolio investments director
Abu Dhabi state holding company ADQ has hired Jawad Shafique, formerly KPMG’s partner for deal advisory in the lower Gulf, as director for portfolio investments, two sources told Reuters on Thursday. ADQ, Abu Dhabi’s third biggest sovereign wealth fund, has been hiring more bankers in the last two years as it steps up dealmaking in… Continue reading Abu Dhabi’s ADQ hires KPMG partner as portfolio investments director
Alibaba Q4 revenue up 2%, board approves spinoff of cloud business
China’s Alibaba Group Holding Ltd, posted a 2% rise in quarterly revenue that missed expectations and said its board has approved a spinoff of its cloud-computing business. The company logged revenue of 208.20 billion yuan ($30.12 billion) for the three months ended in March, compared with a Refinitiv consensus estimate of 210.3 billion yuan drawn… Continue reading Alibaba Q4 revenue up 2%, board approves spinoff of cloud business
A history of metaphors for the internet
From a series of tubes to the information superhighway. By Josh Dzieza, an investigations editor covering tech, business, and climate change. Since joining The Verge in 2014, he’s won a Loeb Award for feature writing, among others. Share this story Illustration by Hugo Herrera for The Verge When I wrote about this web surfing competition, it… Continue reading A history of metaphors for the internet
What is bio-oil, and why does Big Tech think it can fight climate change?
/ Alphabet and Meta are just a couple of the big names paying a startup to produce bio-oil as a way to trap CO2. By Justine Calma, a science reporter covering the environment, climate, and energy with a decade of experience. She is also the host of the Hell or High Water podcast. Share this… Continue reading What is bio-oil, and why does Big Tech think it can fight climate change?
EQT buys CK Hutchison’s stake in Wind Tre’s telecom gridCK Hutchison, the owner of Wind Tre, will own the remaining 40% of the new firm.
Sweden’s EQT Infrastructure will take a majority stake in Wind Tre’s Italian telecoms network after agreeing a deal with Hong Kong’s CK Hutchison valuing the business at 3.4 billion euros ($3.74 billion), including debt, the groups said. CK Hutchison, the owner of Wind Tre, will own the remaining 40% of the new infrastructure company, which… Continue reading EQT buys CK Hutchison’s stake in Wind Tre’s telecom gridCK Hutchison, the owner of Wind Tre, will own the remaining 40% of the new firm.
Ripple buys Swiss crypto custody firm Metaco for $250m
U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday. Metaco makes technology that allows financial institutions to store and manage digital assets. Its clients include Citi, BNP Paribas, and Societe Generale’s digital asset arm. Investor interest in crypto assets has cooled following a drop in… Continue reading Ripple buys Swiss crypto custody firm Metaco for $250m
China’s JD Energy nabs almost $100m in its Series B round
Xi’an-headquartered JD Energy has raised 700 million yuan ($99.8 million) in a Series B round led by Goldstone Investment, a subsidiary of China’s largest brokerage Citic Securities. A slew of institutional investors including Jinyi Capital, GF Xinde Investment, GL Ventures, Huajin Capital, Ori-mind Capital, Shang Capital, as well as Hong Kong-listed Vongroup have participated in… Continue reading China’s JD Energy nabs almost $100m in its Series B round
Aston Martin stock soars after $295m investment by China’s Geely
Aston Martin’s stock popped nearly 22% on Thursday, after the luxury carmaker announced a 234 million pound investment by China’s Geely, that will see the automotive firm become its third-largest shareholder. Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll’s Yew Tree, which is currently the Aston Martin’s largest stakeholder, at 335… Continue reading Aston Martin stock soars after $295m investment by China’s Geely
Twitter faces lawsuit for allegedly getting a Saudi dissident imprisoned
The plaintiff accuses Twitter of giving Saudi access to user information. In December 2022, former Twitter employee Ahmad Abouammo was found guilty of taking bribes from Saudi Crown Prince Mohammed bin Salman in return for sensitive account information on dissidents using the website. Now, the sister of Abdulrahman al-Sadhan, who was allegedly kidnapped and tortured… Continue reading Twitter faces lawsuit for allegedly getting a Saudi dissident imprisoned