Category: Tech News

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Tencent Music’s plans for a $5b Hong Kong listing in 2021 stalls amid market volatility

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Tencent Music’s plans for a $5b Hong Kong listing in 2021 stalls amid market volatility

Baring PE Asia nears $1b deal to acquire Philippines-based outsourcing firm Straive

Alternative investment major Baring Private Equity Asia is said to be edging closer to acquire Philippine-based content technology outsourcing firm Straive (formerly known as SPi Global) from Swiss fund manager Partners Group for $1 billion, according to a Bloomberg report. The report said Baring PE Asia and Partners Group are already finalising the details of the… Continue reading Baring PE Asia nears $1b deal to acquire Philippines-based outsourcing firm Straive

‘Big Short’ investor Michael Burry ramps up his bet against Tesla — and reveals a new wager against Cathie Wood’s Ark Invest

Michael Burry. Jim Spellman/Getty Images Michael Burry raised his bet against Tesla and revealed a new wager against Cathie Wood’s Ark. The “Big Short” investor disclosed puts on about 1.1 million Tesla shares, up from 800,000. Burry’s Scion Asset Management also bought puts on 235,500 shares of Wood’s Ark Innovation ETF. See more stories on… Continue reading ‘Big Short’ investor Michael Burry ramps up his bet against Tesla — and reveals a new wager against Cathie Wood’s Ark Invest

Nio tumbles 7% on reports of a fatal accident involving one of its self-driving SUVs

STR/AFP via Getty Images Electric-vehicle maker Nio tumbled as much as 7% on Monday on news that its autopilot system was involved in a fatal crash in China. A Chinese businessman named Lin Wenqin reportedly died last week while driving a Nio SUV called the ES8 after activating the autopilot system. The ES8 is equipped… Continue reading Nio tumbles 7% on reports of a fatal accident involving one of its self-driving SUVs

The Mormon Church’s secretive $100 billion fund cashed out its GameStop profits — and trimmed its Tesla bet by 13%

A LDS church. Shutterstock The Mormon Church exited its GameStop position and cut its Tesla holdings last quarter. Ensign Peak Advisors disposed of its 46,000 GameStop shares, pocketing as much as $14 million. The church fund sold 13% of its Tesla shares, leaving a stake worth $382 million on June 30. See more stories on… Continue reading The Mormon Church’s secretive $100 billion fund cashed out its GameStop profits — and trimmed its Tesla bet by 13%

Temasek-backed Indian online drugstore PharmEasy targets $9b IPO valuation …

Prosus Ventures, TPG Growth, CDPQ and Temasek are among PharmEasy’s top investors. The decision not to cash out their stakes during the IPO indicates confidence among PharmEasy’s investors about the growth potential of the company and the online pharmacy market. The growth potential has already drawn India’s largest conglomerates, including the Tata group and Reliance… Continue reading Temasek-backed Indian online drugstore PharmEasy targets $9b IPO valuation …

LG Energy Solution inks deal with Australian mining company for nickel and cobalt

South Korea’s LG Energy Solution has entered into a six-year agreement with an Australian mining company for cobalt and nickel, securing a stable supply of key minerals to make electric vehicle batteries. LG Energy, a subsidiary of LG Chem, will purchase 71,000 dry metric tons of nickel and 7,000 dry metric tons of cobalt from… Continue reading LG Energy Solution inks deal with Australian mining company for nickel and cobalt

Tesla Model Y to be cheaper police patrol car in just 6-18 months, says Boulder Sheriff

The Boulder County Sheriff’s Office announced that it acquired a Tesla Model Y to test as a police patrol vehicle. It justified that higher sticker price with gas savings resulting in a cheaper total cost of ownership in just 6 to 18 months. Like many other law enforcement agencies, the Boulder County Sheriff’s Office is… Continue reading Tesla Model Y to be cheaper police patrol car in just 6-18 months, says Boulder Sheriff