GM’s goal to sell nothing but EVs by 2035 is well on its way with massive demand already for the GMC Hummer EV and the Chevy Silverado. The automaker took to social media on Thursday to unveil its third electrified offering and the burly-looking Sierra Denali EV that the company revealed does not disappoint. Officially,… Continue reading GM officially reveals its $107,000 electrified 2024 GMC Sierra Denali
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Google fined $161.9 million in India over ‘anti-competitive’ Android policies
Google is facing another fine for allegedly misusing its control of Android to suppress competition. CNET reports India’s Competition Commission has fined Google the equivalent of $161.9 million for supposedly giving its Android apps an edge using restrictive terms. The company imposes an “unfair condition” on phone makers by requiring that they preinstall Google apps… Continue reading Google fined $161.9 million in India over ‘anti-competitive’ Android policies
Amazon faces $1 billion lawsuit over claims it ‘tricks’ UK customers into paying more
Amazon could soon go to court over its use of the Buy Box that highlights shopping deals. The Guardian reports that lawyers are filing a class action lawsuit with the UK’s Competition Appeal Tribunal over claims the Buy Box “tricks” shoppers into paying more than they should. Consumer advocate Julie Hunter says the section favors… Continue reading Amazon faces $1 billion lawsuit over claims it ‘tricks’ UK customers into paying more
Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019
Early-stage investing platform Indian Angel Network (IAN) has launched its second fund, IAN Alpha Fund, with a target corpus of about $120 million (Rs 1000 crore), per an announcement on Thursday. The fund is aligned with IAN’s vision of investing in 500 startup, with Rs 5,000 crore, and creating 500,000 jobs, IAN said in a… Continue reading Indian Angel Network launches second fund with $120m corpusIAN’s first fund had raised Rs 375cr in 2019
Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space
Singapore-headquartered Dymon Asia Private Equity (DAPE) is looking at expanding its presence in Thailand, which the firm sees as one of the key focus markets in Southeast Asia. Having invested predominantly in Singapore and Malaysia-based companies, DAPE is seeking opportunities in the food-related sectors in Thailand due to the country’s access to a wide range… Continue reading Dymon Asia Private Equity to ramp up Thai presence, eyes deals in food space
Peter Lim-backed Singapore eyecare startup Plano sets sight on China market
Singapore-based eyecare firm Plano is hoping to make it big in China, where the annual optometry market is estimated to be over $13.9 billion. The company, backed by Singaporean business magnate Peter Lim, provides a parental control-enabled mobile app to help manage children’s device use and, consequently, eye health. Go to Source
Deal count soars in Q3, but fundraising falls YoY in Greater China
The dearth of growth- to late-stage megadeals continued to suppress fundraising in Greater China in the third quarter, despite the volume of PE-VC deals reaching a record high. The total value of venture investments in startups headquartered in mainland China, Hong Kong, Macau, and Taiwan stood at $15.1 billion in July-September 2022, down 34.7% from… Continue reading Deal count soars in Q3, but fundraising falls YoY in Greater China
SoftBank sets up executive committee to oversee Vision Fund 2
SoftBank Group Corp has created an executive committee to oversee its second Vision Fund, Latin America funds and any future funds, its founder and Chief Executive Masayoshi Son said in a memo to employees reviewed by Reuters. Alex Clavel will oversee investing teams in the United States and Latin America, Greg Moon will manage teams in Europe and Asia and Navneet Govil, Vision Fund‘s chief financial officer, will oversee other functional teams,… Continue reading SoftBank sets up executive committee to oversee Vision Fund 2
GM takes another full-size pickup electric with the 400-mile range GMC Sierra EV
General Motors unveiled Thursday an all-electric GMC Sierra Denali pickup truck, the latest model in the automaker’s march towards a global annual sales target of 1 million electric vehicles by 2025. The GMC Sierra Denali EV isn’t the first electric truck or SUV on GM’s new Ultium platform. It’s actually the brand’s third battery-electric truck,… Continue reading GM takes another full-size pickup electric with the 400-mile range GMC Sierra EV
Uils wants to lend LatAm’s rideshare drivers cash based on their driving record
When Uils launched in 2021, it was a car rental service for rideshare drivers. But after the founders realized that many rideshare drivers don’t have access to credit, particularly in Latin America, the Buenos Aires-based company pivoted to fintech, offering financial services to drivers through a behavioral scoring engine based entirely on a person’s driving… Continue reading Uils wants to lend LatAm’s rideshare drivers cash based on their driving record