Category: Tech News

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Why COP27 matters for the climate, but maybe not as much as the hype suggests

/ The UN climate talks provoke frustration every year. Here’s what’s on the agenda this year. Egypt’s President Abdel Fattah al-Sisi speaks during the UN Climate Change Conference COP26 on November 1, 2021, in Glasgow, United Kingdom. Photo by Yves Herman – WPA Pool / Getty Images More than 30,000 people representing governments, businesses, and environmental… Continue reading Why COP27 matters for the climate, but maybe not as much as the hype suggests

Dataloop Raises $33M in Series B Funding

Dataloop, a Tel Aviv, Israel-based technology company that builds data infrastructure and a data operating system for AI companies, raised $33M in Series B funding. The round was led by NGP Capital and Alpha Wave Ventures, with participation from Amiti Ventures, F2 Venture Capital, and OurCrowd. The company intends to use the funds for global… Continue reading Dataloop Raises $33M in Series B Funding

The layoffs are starting at Elon Musk’s Twitter

Image: Getty/Anadolu Agency Twitter has warned staff around the world to expect an email at 9AM PST Friday regarding “Your Role at Twitter” amidst rumours of expected mass layoffs.  Washington Post reporter Will Oremus published the email sent to Twitter staff on Thursday after many reports that Twitter’s new owner Elon Musk planned to cull… Continue reading The layoffs are starting at Elon Musk’s Twitter

MoneySmart to enter reverse takeover merger with SGX-listed Asia Pacific Strategic InvestmentsMoneySmart will hold 75.8% of the combined entity upon c…

Singapore-based personal finance platform MoneySmart is entering into a reverse takeover merger with Singapore-listed hotel operator Asia Pacific Strategic Investments (APS), according to a stock exchange filing on Thursday. MoneySmart will hold 75.8% of the combined entity upon completion of the merger, while APS will relinquish and dispose of its real estate business, which was… Continue reading MoneySmart to enter reverse takeover merger with SGX-listed Asia Pacific Strategic InvestmentsMoneySmart will hold 75.8% of the combined entity upon c…

China’s Welion snags $206m in a Series D round to expand its production lineThe round was led by Mixed Ownership Reform Fund.

China’s solid-state lithium battery developer Welion has notched 1.5 billion yuan ($206.1 million) in a Series D round led by Mixed Ownership Reform Fund, a national fund that sets out to support mixed-ownership reforms of state-owned enterprises (SOEs).  The net proceeds will help the Beijing-headquartered company speed up its production line expansion, as well as… Continue reading China’s Welion snags $206m in a Series D round to expand its production lineThe round was led by Mixed Ownership Reform Fund.

HSBC’s shareholder Ping An seeks ‘aggressive’ cost cuts amid breakup push

HSBC Holdings Plc’s largest shareholder Ping An has called on the bank to be “much more aggressive” in reducing costs by cutting jobs and said the lender’s board lacks experience in Asia, the Financial Times reported on Friday. It was “urgent” that the bank should go further on cost cutting and bring down its expenses, which are far higher than… Continue reading HSBC’s shareholder Ping An seeks ‘aggressive’ cost cuts amid breakup push

MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm

Malaysian plantation giant Kuala Lumpur Kepong Bhd is considering raising its stake in British chemicals company Synthomer Plc as it looks to further expand its specialty chemicals business globally, two sources told Reuters. Kuala Lumpur Kepong is talking with at least one financial adviser to explore potentially boosting its 26.3% stake in Synthomer, said the sources with knowledge of the matter. The stake purchase could comprise primary and secondary shares, the sources added, asking not to be… Continue reading MY’s Kuala Lumpur Kepong eyes bigger stake in British chemicals firm

UK fund manager Man Group betting on China trading opportunities

UK fund manager Man Group Plc sees ample opportunities to generate strong returns from investments in China and plans to expand its presence in the world’s second-largest economy after the country eases its strict COVID-19 curbs, its CEO said. Those returns would come from “great trading opportunities“, including placing long and short bets on Chinese equities, said Man Group CEO Luke Ellis, without giving any details. The comments come as most… Continue reading UK fund manager Man Group betting on China trading opportunities