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April 14, 2021

Corporate Events

Senate votes to confirm Mallory to lead White House environmental council

Reuters
WASHINGTON, April 14 (Reuters) – The U.S. Senate voted 53-45 to confirm Brenda Mallory as head of the White House Council on Environmental Quality (CEQ), a key role that is central to federal environmental reviews of major infrastructure projects and coordinating the administration’s environmental justice and climate change policies. Mallory......

Goldman Sachs profit soars on global deals frenzy, trading boom

Reuters
(Reuters) – Goldman Sachs Group Inc surged past Wall Street expectations for first-quarter profit on Wednesday, as the U.S. investment banking giant capitalized on record levels of global dealmaking and a coronavirus-driven boom in equity trading. An unprecedented boom in private firms merging with listed shell companies to go public......

Chinese Internet firms pledge to avoid anti-competitive behaviors

Reuters
FILE PHOTO: A Baidu sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song/File Photo BEIJING (Reuters) – A dozen Chinese Internet platform companies pledged to avoid anti-competitive behaviors such as forcing vendors to use their platform exclusively, according to a......

China’s Ant Group to become financial holding company: central bank

Reuters
FILE PHOTO: A thermal imaging camera is seen in front of a logo of Ant Group at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo BEIJING (Reuters) – Ant Financial, the fintech affiliate of Alibaba Group Holding Ltd,......

Qatar National Bank’s Q1 net profit falls 7% as provisions climb

Reuters
DUBAI, April 11 (Reuters) – Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell by 7% from a year earlier to 3.3 billion riyals ($906 million) as it booked 1.4 billion riyals in “precautionary” loan loss provisions. The bank’s......

EDF chief executive says restructuring talks “not at all bogged down”

Reuters
PARIS, April 10 (Reuters) – Negotiations over the restructuring of French state-run utility EDF are not stuck and near daily discussions between Paris and the European Commission continue, chief executive Jean-Bernard Levy said on Saturday. “(The negotiations) are not at all bogged down,” Levy told France Inter radio. The restructuring......

China’s Alibaba hit with record $2.75 billion antitrust fine

Reuters
(Reuters) – Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma’s company and other technology conglomerates. FILE PHOTO: Jack Ma, founder and executive chairman of China’s Alibaba Group, speaks in front......

China regulators fine Alibaba $2.75 billion for anti-monopoly violations

Reuters
FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter/File Photo/File Photo SHANGHAI (Reuters) -Chinese regulators have fined Alibaba 18 billion yuan ($2.75 billion) – around 4% of its revenues in 2019 – for violating anti-monopoly rules and abusing its......

Vaccitech, startup behind AstraZeneca-Oxford’s COVID-19 vaccine, files for U.S. IPO

Reuters
FILE PHOTO: Vials of Oxford/AstraZeneca’s COVID-19 vaccine are pictured at a vaccination centre in Bierset, Belgium March 17, 2021. REUTERS/Yves Herman/File Photo (Reuters) – Biotech startup Vaccitech Plc, which owns the technology behind the COVID-19 vaccine developed by Oxford University and AstraZeneca Plc, filed for a U.S. initial public offering......

ACS interested in buying “significant” stake in Atlantia’s motorway unit – source

Reuters
FILE PHOTO: A view of the Autostrade per l’Italia headquarters in Rome, Italy, July 21, 2020. REUTERS/Yara Nardi/File Photo MILAN (Reuters) -Spanish infrastructure group ACS has sent a letter to Atlantia expressing interest in buying a “significant stake” in the Italian group’s motorway unit, a source with knowledge of the......

Breakingviews – Path out of global tax combat is slowly emerging

Reuters
WhatsApp and Facebook messenger icons are seen on an iPhone in Manchester , Britain March 27, 2017. LONDON (Reuters Breakingviews) – A long slog to make international corporate tax rules fit for the digital age is nearing a breakthrough. Obstacles remain, but a path that gets around them is slowly......

Creators’ platform Patreon valued $4 billion in latest funding round

Reuters
(Reuters) – Patreon Inc, a platform that lets artists seek financial patronage from their fans, said it was valued at $4 billion in its latest funding round, more than tripling from September last year. The San Francisco, California-based company raised $155 million in the fresh round led by new investor......

Samsung Electronics says first-quarter profit likely rose 44%, matching expectations

Reuters
By Joyce Lee, Heekyong Yang SEOUL (Reuters) – Samsung Electronics Co Ltd on Wednesday said first-quarter profit likely rose 44%, with analysts attributing the surge to brisk sales of smartphones and TVs, albeit tempered by a likely fall in chip earnings after a storm halted U.S. output. FILE PHOTO: The......

Samsung Electronics says Q1 profit likely rose 44%, in line with analyst estimate

Reuters
SEOUL, April 7 (Reuters) – Samsung Electronics Co Ltd said on Wednesday first-quarter operating profit likely rose 44% on brisk sales of home appliances, smartphones and television sets, though chip earnings likely fell after a winter storm halted U.S. output. The South Korean technology giant forecast January-March profit of 9.3......

Software firm Canva valued at $15 billion after latest investment

Reuters
(Reuters) – Australian software firm Canva on Tuesday said the company’s valuation had more than doubled to $15 billion following an investment of $71 million. Sydney-based Canva, launched in 2013, offers an online design and publishing tool with templates for presentations, social media graphics and posters, among others. Canva, which......

More women in Italian boardrooms, but fewer female CEOs

Reuters
FILE PHOTO: Ferrari’s logo is seen on the facade of Milan’s stock exchange, downtown Milan, Italy January 4, 2016. REUTERS/Stefano Rellandini MILAN (Reuters) – Italian listed companies have increased the number of women serving on their boards but the number of female chief executive officers fell slightly last year, the......

More women in Italian boardrooms, but fewer female CEOs

Reuters
FILE PHOTO: Ferrari’s logo is seen on the facade of Milan’s stock exchange, downtown Milan, Italy January 4, 2016. REUTERS/Stefano Rellandini MILAN (Reuters) – Italian listed companies have increased the number of women serving on their boards but the number of female chief executive officers fell slightly last year, the......

Coinbase investigating transaction delays on its financial platform

Reuters
(Reuters) – Coinbase Global Inc, the largest U.S. cryptocurrency exchange, said on Tuesday it was investigating issues that are causing delays in deposits and withdrawals on its Stellar platform. Stellar is its secure platform that connects banks, payments systems and users in a network and has its own cryptocurrency called......

South Korea’s SK Group buys 16.3% stake in Vietnam’s VinCommerce for $410 million

Reuters
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – South Korea’s third-largest conglomerate, SK Group, said on Tuesday it has agreed to acquire a 16.3% stake in Vietnam’s VinCommerce, a retail affiliate......

Tesla files a petition against U.S. labor board order

Reuters
FILE PHOTO: A Tesla service center is shown in Costa Mesa, California, U.S., March 18, 2020. REUTERS/Mike Blake (Reuters) – Tesla Inc has filed an appeal on a U.S. National Labor Relations Board ruling that the electric-car maker had violated U.S. labor law, and on the agency’s order that Chief......

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