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November 30, 2021

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India’s Paytm falls as net loss widens on higher expense

Reuters
The interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/Illustration//File Photo Register now for FREE unlimited access to reuters.com Register NEW DELHI, Nov 29 (Reuters) – Shares in India’s One 97 Communications Ltd (PAYT.NS), the......

China asks Didi to delist from U.S. on data security fears – Bloomberg News

Reuters
SHANGHAI, Nov 26 (Reuters) – Chinese regulators have asked top executives of ride hailing giant Didi Global Inc (DIDI.N) to devise a plan to delist from the New York Stock Exchange due to concerns about data security, Bloomberg News reported. China’s tech watchdog wants the management to take the company......

Italy could restrict participation in tenders for broadband rollout – sources

Reuters
Telecom Italia’s logo for the TIM brand is seen on a building in Rome, Italy, April 9, 2016. REUTERS/Alessandro Bianchi/File Photo – RC251R9BX6V5 Register now for FREE unlimited access to reuters.com Register EU putting pressure on Italy to set a 50% cap – source Cap aims at promoting competition in......

Consortium of Japanese firms to test digital currency in coming months, launch in FY2022

Reuters
A man walks past in front of a sign board of Mitsubishi UFJ Trust and Banking Corporation, the asset management unit of Japan’s Mitsubishi UFJ Financial Group Inc. (MUFG), in Tokyo, Japan July 31, 2017. REUTERS/Issei Kato/Files Register now for FREE unlimited access to reuters.com Register Consortium includes Japan’s three......

Tencent boosts Prosus profit, e-commerce trading loss widens

Reuters
A logo of Prosus is diplayed at Amsterdam’s stock exchange building as Prosus begins trading on the Euronext stock exchange in Amsterdam, Netherlands, September 11, 2019. REUTERS/Piroschka van de Wouw/File Photo Register now for FREE unlimited access to reuters.com Register AMSTERDAM/JOHANNESBURG, Nov 22 (Reuters) – Prosus, which owns a $175......

India’s Paytm falls for second day after debut debacle

Reuters
BENGALURU, Nov 22 (Reuters) – Digital payments firm Paytm (PAYT.NS) fell for a second session on Monday, shaving off $7.75 billion from its market value since its dismal debut in India’s biggest initial public offering last week. Shares fell 17.78% as of 0733 GMT to 1,271 rupees compared with the......

Israel’s Cellcom CEO to resign after nearly 2 years in post

Reuters
JERUSALEM, Nov 21 (Reuters) – Avi Gabay, the chief executive of Israeli telecom group Cellcom, announced his resignation, the company said on Sunday. No date for the end of his tenure was set. Gabay took over as CEO of Cellcom, Israel’s largest mobile phone operator in January of 2020. Since......

Telenor and CP Group discuss $7.5 bln Thailand telecom merger

Reuters
OSLO, Nov 19 (Reuters) – Norway’s Telenor (TEL.OL) and Thailand’s Charoen Pokphand Group (CP Group) are exploring a merger of their telecom units in Thailand, which could become the Norwegian firm’s second multi-billion dollar tie-up in Southeast Asia this year. A deal, if completed, would merge the telecom operations of......

India’s Paytm crashes in market debut, business model questioned

Reuters
MUMBAI, Nov 18 (Reuters) – Indian digital payments firm Paytm (PAYT.NS) tumbled 26% on its maiden day of trade, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever IPO. While there had been some expectations that Paytm’s market debut could underwhelm, the......

Analysis: Banks profit from building up and breaking up companies

Reuters
Nov 16 (Reuters) – It is a constant dilemma facing companies; do they acquire or shed businesses to boost shareholder returns? Investment bankers profit every time the answer involves a deal, even if it represents an about-face for the companies. Last week’s announcements by General Electric Co (GE.N), Toshiba Corp......

China Telecom U.S. unit asks court to block U.S. FCC action

Reuters
Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and......

Saudi PIF nearly triples U.S. stock holdings; adds Walmart, Pinterest

Reuters
DUBAI, Nov 15 (Reuters) – The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, nearly tripled its holdings of U.S.-listed stocks to $43.45 billion in the third quarter, adding shares of Alibaba Group , Walmart (WMT.N) and Pinterest (PINS.N). Its U.S.-listed stock holdings in the quarter ended Sept. 30......

Rogers Communications reinstates ousted chair after court backs his bid to shakeup board

Reuters
VANCOUVER, Nov 5 (Reuters) – Rogers Communications Inc (RCIb.TO) on Friday reinstated ousted Chairman Edward Rogers after a court backed his petition to constitute a new board, drawing curtains on a rare public battle for the control of a Canadian company even as the family feud showed no signs of......

America Movil, Telefonica, Telecom Italia win bids in Brazil’s 5G auction

Reuters
SAO PAULO, Nov 4 (Reuters) – Local units of America Movil, Telefonica and Telecom Italia won their bids for the 3.5 GHz spectrum band dedicated to fifth-generation (5G) wireless technology on Thursday in Brazil’s largest-ever cellular auction. Claro, owned by Mexican billionaire Carlos Slim’s America Movil SAB de CV (AMXL.MX),......

SoftBank-backed Indian logistics startup Delhivery files for $997 mln IPO

Reuters
BENGALURU, Nov 2 (Reuters) – SoftBank Group (9984.T)-backed Indian logistics firm Delhivery has filed for an initial public offering of up to 74.6 billion rupees ($997.33 million), joining a long list of startups that have tapped the capital market this year. The filing comes on the heels of several public......

How an accidental phone answer exposed Rogers Communications ‘coup plan’

Reuters
General view of the Rogers Building, quarters of Rogers Communications in Toronto, Ontario, Canada October 22, 2021. REUTERS/Carlos Osorio/File Photo Oct 30 (Reuters) – In mid September, Rogers Communications Inc CEO Joe Natale called his then finance chief Tony Staffieri, who was discussing a secret plan to shake up Canada’s......

FCC revokes authorization of China Telecom’s U.S. unit

Reuters
WASHINGTON, Oct 26 (Reuters) – The U.S. Federal Communications Commission (FCC) on Tuesday voted to revoke the authorization for China Telecom’s (0728.HK) U.S. subsidiary to operate in the United States, citing national security concerns. The decision means China Telecom Americas must now discontinue U.S. services within 60 days. China Telecom,......

EXCLUSIVE SoftBank in talks to sell French robotics business to Germany’s United Robotics

Reuters
TOKYO, Oct 22 (Reuters) – SoftBank Group Corp is in talks to sell the Paris-based robotics business behind its Pepper android to Germany’s United Robotics Group, according to sources and documents reviewed by Reuters, scaling back a business it once touted as a major growth driver. The talks are ongoing......

CNN denies Australians access to its Facebook pages, cites defamation risk

Reuters
SYDNEY, Sept 29 (Reuters) – CNN said it is preventing Australians from accessing its Facebook Inc (FB.O) pages after a court ruled that publishers can be liable for defamation in public comment sections and the social media firm refused to help it disable comments in the country. The move makes......

SoftBank backs Steven Mnuchin’s $2.5 bln private equity fund

Reuters
U.S. Treasury Secretary Steven Mnuchin speaks during a House Financial Services Committee hearing in Washington, December 2, 2020. Greg Nash/Pool via REUTERS/File Photo Sept 22 (Reuters) – SoftBank Group (9984.T) will invest in a $2.5 billion private equity fund set up by former U.S. Treasury secretary Steven Mnuchin, the Japanese......

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