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June 6, 2021

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Ping An finds suitable rebound deal

Reuters
HONG KONG (Reuters Breakingviews) – Ping An Insurance may indemnify one costly deal with a better one. Not long after losing $1.5 billion in a failed property investment, the Chinese conglomerate plans to spend up to $7.9 billion to buy control of Founder Group, Peking University’s bankrupt corporate empire. A......

Breakingviews – China’s antitrust push forces digital reinvention

Reuters
FILE PHOTO: Jack Ma, founder and executive chairman of China’s Alibaba Group, speaks in front of a picture of SoftBank’s human-like robot named ‘pepper’ during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/File Photo HONG KONG (Reuters Breakingviews) – What’s left for Chinese internet companies deprived of......

Amazon aims to double U.S. Black employees in leadership this year

Reuters
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo (Reuters) – Amazon.com said on Wednesday it was aiming to double the number of Black employees in senior leadership roles and hire 30% more Black people as corporate......

Samsung SDI to supply battery cells to EV startup Rivian

Reuters
FILE PHOTO: The logo for electric vehicle startup Rivian is seen on the hood of its new R1T all-electric truck in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino (Reuters) – Electric vehicle startup Rivian, backed by Amazon.com Inc and Ford Motor Co, said on Monday that South Korean......

Breakingviews – Fine leaves sharp sword hanging over Alibaba

Reuters
FILE PHOTO: FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter HONG KONG (Reuters Breakingviews) – Alibaba is entering a long probation. A $2.8 billion fine for preventing sellers from using rival sites is a light penalty for the......

Failed Amazon union effort renews call for updated U.S. labor laws

Reuters
FILE PHOTO: Danny Gonzalez makes deliveries for Amazon during the outbreak of the coronavirus disease (COVID-19) in Anaheim, California, U.S., March 23, 2020. REUTERS/Alex Gallardo/File Photo WASHINGTON (Reuters) – A failed attempt to unionize Amazon.com warehouse workers shows why Congress needs to pass proposed legislation to protect labor unions against......

Amazon union election in Alabama has 55% voter turnout

Reuters
(Reuters) -Amazon.com Inc’s closely watched union election in Alabama had voter turnout of about 55%, and the public vote tally is expected to begin as early as Thursday afternoon, the Retail, Wholesale and Department Store Union (RWDSU) said in a statement. More than 3,200 mail ballots were received by the......

Amazon acknowledges issue of drivers urinating in bottles in apology to Rep. Pocan

Reuters
FILE PHOTO: The logo of Amazon in Lauwin-Planque, northern France, February 20, 2017. REUTERS/Pascal Rossignol/File Photo (Reuters) – Amazon.com Inc has apologized to U.S. Representative Mark Pocan, admitting to scoring an “own goal” in its initial denial of his suggestion that its drivers were sometimes forced to urinate in bottles......

Ballot review in watershed Amazon union election to stretch into Wednesday

Reuters
By Mike Spector, Jeffrey Dastin (Reuters) – The National Labor Relations Board’s review of ballots from Amazon.com Inc’s landmark union election in Alabama will continue on Wednesday, with momentum for future labor organizing at America’s second-largest private employer hanging in the balance. Labor board staff have begun sifting through ballots......

Factbox: The protagonists in the Grindr story

Reuters
(Reuters) – The parties involved in the $620 million sale last year of dating app Grindr Inc gave information to a U.S. national security panel that contradicted disclosures to potential investors and Chinese regulators, Reuters reported on Monday. Many of these discrepancies center on ties between the acquirer, Chinese-American businessman......

Amazon starts on-site COVID-19 vaccination for U.S. employees

Reuters
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo (Reuters) – Amazon.com Inc is rolling out on-site COVID-19 vaccination for its U.S. front-line employees, it said on Thursday, as companies step up efforts to get their workers......

SoftBank-backed Zymergen files for $100 million U.S. IPO

Reuters
(Reuters) – Zymergen Inc, backed by SoftBank Group Corp Inc’s Vision Fund, is looking to raise around $100 million through an initial public offering in the United States, according to a regulatory filing on Tuesday. The company did not reveal the number of shares it plans to offer for sale......

China’s JD.com to invest $800 million in Dada Group

Reuters
FILE PHOTO: A sign of China’s e-commerce company JD.com is seen at its shop at a mall in Shanghai, China October 26, 2018. REUTERS/Aly Song (Reuters) – Chinese e-commerce firm JD.Com said on Monday it will invest $800 million in Dada Group, giving it a 51% stake in the Chinese......

‘Human error’ by Australia’s stock exchange delays Airtasker market debut

Reuters
FILE PHOTO: The Australian Securities Exchange ASX logo is seen in Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz (Reuters) – The Australian stock exchange said the listing of online labour-for-hire marketplace Airtasker was delayed by a day due to “human error” on its part, in another setback for ASX Ltd......

China’s Pinduoduo quarterly revenue more than doubles

Reuters
(Reuters) – Chinese e-commerce firm Pinduoduo Inc reported a 146% surge in quarterly revenue on Wednesday, thanks to online shoppers buying everything from groceries to luxury products from online in a pandemic-hit year. FILE PHOTO: The logo of Chinese online group discounter Pinduoduo is seen next to its mobile phone......

Billionaire Ackman donates millions of Coupang shares to foundation, others

Reuters
FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian (Reuters) – Billionaire hedge fund investor William Ackman said on Monday he donated 26.5 million shares in newly public South......

Amazon Canada asked to shut Brampton facility, workers to self isolate for 14 days

Reuters
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol (Reuters) – Amazon.com Inc’s Canada division has been ordered to close its Brampton facility in South Ontario, with workers being asked to self-isolate for 14 days, according to a......

U.S. Justice Department nominee Gupta vows strong antitrust enforcement

Reuters
Nominee to be Associate Attorney General Vanita Gupta testifies before the Senate Judiciary Committee during her confirmation hearing on Capitol Hill in Washington, U.S., March 9, 2021. REUTERS/Joshua Roberts WASHINGTON (Reuters) – Vanita Gupta, President Joe Biden’s nominee for the Justice Department’s No. 3 post, said on Tuesday that she......

‘A side of shares’: Deliveroo to offer 50 million pounds of stock to customers

Reuters
LONDON, March 7 (Reuters) – Deliveroo said shares worth 50 million pounds ($69 million) would be earmarked for customers in its upcoming flotation, with the offer branded “Great food with a side of shares”. The Amazon-backed food delivery firm announced plans on Thursday to list in London, with a potential......

Goldman-backed secondhand clothing retailer ThredUp files for IPO

Reuters
(Reuters) – Goldman Sachs-backed secondhand clothing retailer ThredUp Inc made its IPO filing public on Wednesday, disclosing a bigger full-year loss ahead of a market debut. The company, founded in 2009, has processed over 100 million unique secondhand items from 35,000 brands, according to its filing. (bit.ly/2NRElgE) Users download the......

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