Category: Tech News

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Unionbank to buy Citi’s Philippine consumer banking biz

Unionbank of the Philippines said on Thursday it will acquire the consumer banking business of Citigroup Inc in the Southeast Asian nation, as part of a bid to boost growth in its retail banking sector. Unionbank will pay cash for the net assets of the Citi Philippines’ consumer banking business plus a premium of 45.3 billion pesos, or about $908 million, Citigroup said in a separate… Continue reading Unionbank to buy Citi’s Philippine consumer banking biz

China’s Tencent to give $16.4b JD.com stake to shareholders as dividend

Chinese gaming and social media company Tencent will hand a $16.4 billion JD.com stake as a dividend to its shareholders, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings. Tencent said on Thursday it will distribute HK$127.69 billion ($16.37 billion) worth of its JD.com stake to shareholders, slashing its holding in China’s second-biggest e-commerce company to 2.3% from around 17% now and losing its… Continue reading China’s Tencent to give $16.4b JD.com stake to shareholders as dividend

Chinese regulators suspend cyber security deal with Alibaba Cloud

Chinese regulators on Wednesday suspended an information-sharing partnership with Alibaba Cloud Computing, a subsidiary of e-commerce conglomerate Alibaba Group, over accusations it failed to promptly report and address a cybersecurity vulnerability, according to state-backed media reports. Alibaba Cloud did not immediately report vulnerabilities in the popular, open-source logging framework Apache Log4j2 to China‘s telecommunications regulator, according to 21st Century Business Herald, citing a recent notice… Continue reading Chinese regulators suspend cyber security deal with Alibaba Cloud

Renault’s China JV with Brilliance heading into restructuring

Renault on Wednesday confirmed a report that its joint venture with Chinese carmaker Brilliance Auto Group had run out of cash and is heading for a restructuring. “In light of (the JV‘s) inability to meet its current financial obligations, the company’s board of directors has resolved to initiate a restructuring process,” a spokesperson said. A source in September told Reuters Renault was in… Continue reading Renault’s China JV with Brilliance heading into restructuring

Data Vantage: Haulio, SDAX, Udaan headline funding, fundraising updates

Singapore-headquartered container haulage platform Haulio has raised $5.75 million in Series A funding, according to its regulatory filings. The round was led by Orchid 3 Investments, a vehicle of Temasek-backed Heliconia Capital Management. Existing backers ComfortDelGro Ventures and PSA unboXed, the venture capital arm of port operator PSA International, also participated. Haulio also issued about… Continue reading Data Vantage: Haulio, SDAX, Udaan headline funding, fundraising updates

Clean Technica: 2021–2022 Tesla Model Y Earns IIHS Top Safety Pick+ Award After Dropping Radar001580

The Insurance Institute for Highway Safety (IIHS) awarded the 2021–22 Tesla Model Y its top award, Top Safety Pick+, because it meets all the criteria for the “plus” designation. The IIHS noted that for a vehicle to qualify for either of its two awards, it must have earned good ratings in six IIHS crashworthiness evaluations.… Continue reading Clean Technica: 2021–2022 Tesla Model Y Earns IIHS Top Safety Pick+ Award After Dropping Radar001580

Clean Technica: Gotion Signs 200 GWh LFP Battery Deal With Major Publicly Traded US Automaker001579

Gotion High-Tech, based in Shenzhen, China, announced this week it has signed a supply and localization agreement with a major publicly traded US auto company to supply the latter with 200 GWh of lithium-iron-phosphate batteries between 2023 and 2028. Gotion is currently the fourth largest battery manufacturer in China, according to the China Automotive Battery… Continue reading Clean Technica: Gotion Signs 200 GWh LFP Battery Deal With Major Publicly Traded US Automaker001579

Clean Technica: Washington Post Piece On Tesla FSD Beta Is Superb, Responses Not So Much001578

Over the past decade of covering the electric vehicle industry, it’s unfortunately not hyperbole that I almost never see an electric vehicle (EV) story in a large mainstream media outlet that isn’t rife with problems. All kinds of errors and bias are abundant in such pieces. Frankly, CleanTechnica has been so successful in large part… Continue reading Clean Technica: Washington Post Piece On Tesla FSD Beta Is Superb, Responses Not So Much001578

Boomers Rejoice: RadioShack is Making Crypto for Old People

“The older generation simply doesn’t trust the new-fangled ideas of the Bitcoin youth.” Crypto for the Rest of Us After an extremely sad online-only relaunch, RadioShack is gasping for relevancy by launching a cryptocurrency exchange for customers who, in the company’s own words, are on average “age 68.” The husk of what was once known… Continue reading Boomers Rejoice: RadioShack is Making Crypto for Old People