The auto industry is still processing the new and confusing electric vehicle credits signed into law by President Joe Biden as part of the Inflation Reduction Act of 2022. Foreign automakers, in particular, are scrambling to find some loophole through the new rules that would seem to disqualify the vast majority of their EV fleets,… Continue reading Foreign automakers are big mad about the new EV tax credit
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Grab banks on cost curbs as it accelerates breakeven timeline for deliveries bizTo cut costs, Grab will roll back incentives and promotions and slow h…
The immense pressure to accelerate the path to profitability has pushed Singapore-headquartered Grab to advance the breakeven timeline for its delivery businesses – which comprise food, groceries and logistics. The new timeline, which is a shift of one quarter for food deliveries and two for the entire segment, follows lower fixed costs and a tapering… Continue reading Grab banks on cost curbs as it accelerates breakeven timeline for deliveries bizTo cut costs, Grab will roll back incentives and promotions and slow h…
India Digest: ADB puts $60m in Orbimed fund; KKR to invest $400m in Hero Future Energies
The Asian Development Bank (ADB) is investing in OrbiMed Asia Partners V, a private equity fund managed by OrbiMed Advisors LLC while KKR is reportedly in advanced negotiations to invest in Hero Future Energies. ADB invests $60m in Orbimed Asia Partners V The Asian Development Bank (ADB) has signed a $60- million equity investment in… Continue reading India Digest: ADB puts $60m in Orbimed fund; KKR to invest $400m in Hero Future Energies
China asks companies, auditors to prepare for US checks in Hong Kong
Beijing has asked some US-listed Chinese companies and their audit firms to prepare for American inspections in Hong Kong, three sources familiar with the matter told Reuters, as part of efforts to end a more than decade-old audit dispute. The China Securities Regulatory Commission (CSRC) recently gave verbal notices to some audit firms, advising them to start preparing paperwork to move staff and documents to Hong Kong, one… Continue reading China asks companies, auditors to prepare for US checks in Hong Kong
Tesla battery supplier Panasonic is considering another large-scale US battery cell factory
Panasonic just announced that it is building a $4 billion battery cell factory in Kansas to supply Tesla, but we now learn that the Japanese company is considering greenlighting another large-scale US battery cell factory to build simultaneously. Before choosing Kansas for its new battery cell factory in the US last month, Panasonic was choosing… Continue reading Tesla battery supplier Panasonic is considering another large-scale US battery cell factory
Google invites applications for SEA, Pak accelerator programmeIt is looking for 10-15 startups based in SE Asia that are in the seed or Series A stage
Google has opened applications for its accelerator programme for startups in Southeast Asia and Pakistan, according to an announcement. The three-month virtual programme, called the Google for Startups Accelerator, is designed for high-potential seed to Series A tech startups that could help solve the region’s tech challenges. Google is looking for 10-15 startups based in… Continue reading Google invites applications for SEA, Pak accelerator programmeIt is looking for 10-15 startups based in SE Asia that are in the seed or Series A stage
Panasonic plans to set up another $4b EV battery plant in US
Panasonic Holdings Corp, a supplier to electric-car maker Tesla Inc, is in talks to build an additional electric vehicle (EV) battery plant in the United States at a cost of around $4 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. Panasonic is looking at Oklahoma as the location for its new plant, the newspaper said. In July, Panasonic selected… Continue reading Panasonic plans to set up another $4b EV battery plant in US
Animoca Brands Japan raises $45m to grow Web 3.0 business
Animoca Brands, the Hong Kong-based crypto games and Web 3.0 investment company, is raising its stakes in Japan, with its local subsidiary raising $45 million in new financing at a pre-money valuation of about $500 million, the firm announced on Friday. Animoca Brands Japan, which focuses on local partnerships for non-fungible token (NFT)-related business opportunities,… Continue reading Animoca Brands Japan raises $45m to grow Web 3.0 business
Duolingo is expanding into math lessons and brain training
Duolingo is holding its annual Duocon event today to show off some of what it’s working on. One of the big things the company has in the pipeline is an app called Duolingo Math, which marks its first move outside of language learning. The app has two main elements. The first is a math course… Continue reading Duolingo is expanding into math lessons and brain training
LG unveils its first curved OLED display with a 240Hz refresh rate at IFA
LG has presented its upcoming premium monitors at IFA Berlin this year, and one of the models it unveiled is a 45-inch curved display that was specifically design for more immersive gaming experiences. The company says the model (45GR95QE) is its first curved display under the UltraGear brand of gaming monitors and is also its… Continue reading LG unveils its first curved OLED display with a 240Hz refresh rate at IFA